This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Pennsylvania DCED Announces Next Phase Of Innovate In PA Tax Credit Program

HARRISBURG, Pa., Nov. 12, 2013 /PRNewswire-USNewswire/ -- Department of Community and Economic Development Secretary C. Alan Walker today announced the Innovate in PA program has moved forward with solicitation of proposals from financial services companies to sell tax credits; raising funds to support entrepreneurs and start-up businesses.

"The Corbett Administration continues to press forward to implement the Innovate in PA program to help launch new, innovative companies and accelerate high-wage job growth," said Walker. "The open process of obtaining proposals to secure funds will ensure quality implementation and maximum effectiveness while providing a solid foundation for the program to grow and thrive."

The Department of Community and Economic Development (DCED) has begun soliciting proposals from financial services companies to sell up to $100 million of deferred insurance premium tax credits, offered to insurance companies in the state to raise funds over multiple years. The funds raised will be directed to the highly successful Ben Franklin Technology Partners, three Life Sciences Greenhouses and the Venture Capital investment program.

Vendors who intend to submit proposals will need to prequalify through the Department of General Services' Invitation to Qualify (ITQ) under the category Financial Services – Tax Credit Brokering & Sales. Qualified vendors will be professional financial consultants with a minimum of three years of experience brokering, auctioning or selling tax credits, or other related public financial products.

Signed into law by the governor earlier this year, Innovate in PA is projected to support more than 5,000 direct and indirect jobs in the technology industry and more than double the return-on-investment back to the state. For every dollar invested in early-stage businesses through Innovate in PA, it is projected that $2.37 will be returned to the state in additional tax revenue.

To begin the prequalification process visit: www.portal.state.pa.us/portal/server.pt/community/supplier_service_center/5104.

Media contact: Lyndsay Frank, DCED; 717-783-1132

SOURCE Pennsylvania Department of Community & Economic Development

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs