Small Businesses Tied to Marcellus Shale to Get Federal Aid
The money will flow through an alphabet soup of federal and state agencies before it gets into the hands of shale entrepreneurs in northeast and north central Pennsylvania. But state officials say the $1 million dollars of federal aid will help create 150 jobs in Bradford, Susquehanna, Sullivan and Wyoming counties.
The Treasury Department’s program, State Small Business Credit Initiative, or SSBCI, gave the Pennsylvania Department of Community and Economic Development, or DCED, more than $29 million dollars to distribute throughout the state.
DCED announced Wednesday that the Central Bradford Progress Authority, or CBPA, will get $1 million dollars from that pot. The Progress Authority plans to use the money to provide capitol to small businesses tied to the Marcellus Shale drilling boom.