Pennsylvania Department of Community and Economic Development Highlights 2015 Accomplishments

News provided by

Pennsylvania Department of Community & Economic Development

Jan 07, 2016, 10:52 ET

HARRISBURG, Pa., Jan. 7, 2016 /PRNewswire-USNewswire/ -- Department of Community and Economic Development Secretary Dennis Davin today provided a year-end wrap-up highlighting department accomplishments focused on key initiatives aimed at creating jobs that pay through collaborative efforts statewide. In 2015, DCED approved more than $1.3 billion in funding and secured private sector commitments to the creation and retention of more than 135,000 full-time jobs.

"It has been a very busy year for our department under the leadership of Governor Tom Wolf. The governor has tasked our agency with taking the lead on his 'Jobs that Pay' initiative and we have vowed to make critical improvements to bolster the economic development efforts all throughout Pennsylvania," said Sec. Davin. "This past year has brought about a tremendous amount of success for the state and puts us in a position to continue our momentum in 2016."

In 2015, DCED approved more than $1.3 billion in low-interest loans, tax credits, and grants for projects all across the commonwealth generating a commitment of more than $1.3 billion in private investments and the creation and retention of more than 135,000 full-time jobs. This year the department also experienced success on the international front and assisted more 325 Pennsylvania companies in securing more than $748 million in export sales.

Additionally, DCED celebrated with two municipalities, Nanticoke, Luzerne County and Clairton, Allegheny County, as both cities' statuses as distressed municipalities under Act 47 were terminated in 2015. These achievements mark the first and second cities ever to exit the program.

This year the department has also placed a focus on preparing the commonwealth for further growth by making investments to assist in the deployment and implementation of broadband solutions to overcome the challenges that may exist in securing broadband access.

"Sufficient access to broadband service has become increasingly important for the growth of Pennsylvania communities and businesses," said Sec. Davin. "This year, our department has supported 62 projects in 31 counties helping communities to overcome the challenges that may exist in securing broadband access."

DCED was also the recipient of numerous awards in 2015. Most recently, the Pennsylvania Economic Development Financing Authority (PEDFA) received recognition as the Northeast Region's 2015 Deal of the Year by The Bond Buyer for the largest private activity bond financing of a public-private partnership in U.S. history and the largest road project in Pennsylvania's history.

Additional accolades in 2015 include: