Function:

The Industrial Parks, Sites, and Speculative Buildings Program invests money in each of the five PACRO counties in order to assist in the development of a product marketable to industry. Funds can be used to acquire land, develop infrastructure, or construct speculative buildings. Related to this, PACRO is investing funds in the initial tasks necessary for the creation of a regional industrial park.

Additionally, PACRO is providing matching funds to the Regional Industrial Park Marketing Committee in order to assist them in marketing the region to industrial clients.

Use of Proceeds:

Funds can be used to acquire land, develop infrastructure, or construct speculative buildings

Payback Period:

Up to 10 years term or due upon sale or lease

Max. Loan Amt.:

$750,000.00

Interest Rate:

0% for implementation phase and first 6 months after completion; converted to below market rate after 6 months

Eligible Companies:

Economic Development Organizations, Municipal Entitites

Other Relevant Services: