Economic Development

The Office of Economic Development is instrumental in ongoing revitalization of the entire City of Scranton.  Our office provides resources and possible funding opportunities for public and private development. Thriving communities are good for both business and residents. We continue to strive to make Scranton a great place to live and work, and have have made great efforts to support relocation of both residents and businesses during these unprecedented times through our Work From Here initiative.

As the City of Scranton welcomes the millions of dollars invested in renovation of historical buildings we see our downtown district growing each day with residential living, restaurants and cultural events.  Our office fully supports the public and private investments taking place in West Side, the Iron District and Pine Brook sections of town. 

Visit ScrantonWorks.org to learn more about all economic development activities, many with our partners.

Revolving Loan Fund (EDA-RLF)

Revolving loan funds (RLFs) make loans to businesses that cannot otherwise obtain traditional bank financing. Applicants must be private, for profit businesses.  Borrowers must demonstrate that credit is not otherwise available on terms and conditions that permit the completion or successful operation of the activity to be financed. The maximum EDA loan amount will be $250,000 however loan can be no more than 30% of the total project costs.

Loan to Grant Program (HUD)

This federally funded gap loan program was developed to enhance job creation by providing assistance to existing businesses looking to expand, for starting up a new business, or for businesses looking to relocate to Scranton.  As per the U.S. Department of Housing and Urban Development (HUD) guidelines, borrowers must create one full time equivalent job for every $35,000 borrowed.  If job creation and guidelines are met, the loan can transfer to a grant, with no repayment necessary.

Visit www.scrantonworks.org for more information Loan to Grant Program (HUD)

This federally funded gap loan program was developed to enhance job creation by providing assistance to existing businesses looking to expand, for starting up a new business, or for businesses looking to relocate to Scranton.  As per the U.S. Department of Housing and Urban Development (HUD) guidelines, borrowers must create one full time equivalent job for every $35,000 borrowed.  If job creation and guidelines are met, the loan can transfer to a grant, with no repayment necessary.

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