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Programs & Incentives
Businesses locating in downtown Norristown may be eligible for programs and incentives.
Local Economic Revitalization Tax Assistance (LERTA)
The Local Economic Revitalization Tax Assistance (LERTA) program is a tax abatement program designed to encourage owner-driven revitalization and new construction in the Municipality's Redevelopment Area. Properties that qualify for LERTA receive a graduated property tax abatement for a term of ten years. The abatement is for increased property taxes due to a reassessment based on improvements to a property. The abatement allows property owners the opportunity to offset some of costs of redevelopment, and possible invest in future improvements.
Keystone Enterprize Zone
Tax credit based program for eligible entities (see program guidelines below), in addition to Enterprise Zone Revolving Loan funds. Download the Keystone Enterprise Zone Guidelines (PDF).
Redevelopment Authority of Montgomery County (RDA) - Revolving Loans
The RDA provides redevelopment support to Norristown in a variety of areas, among other programs, it administers Norristown's PA Enterprise Zone program which provides tax credits to eligible entities (above). Other areas of redevelopment support include the disposition of properties certified as blighted, and the implementation of the Economic Redevelopment Initiative component of Norristown current Capital Improvement Plan. Find more information on the RDA's services.
Historic Facade Grant Program
Building facades are a critical part of any redevelopment and revitalization effort. Norristown's Historic Facade Program affords owners of commercial and multi-family residential properties the opportunity to enhance their building's historic facade. The Department of Planning and Municipal Development provides dollar for dollar matching funds up to $7,500 for each eligible property. Funding sources have included Community Development Block Grants (CDBG) and County Revitalization Funds may qualify for funds to upgrade their facades or storefronts under the Historic Facade Program.
Norristown Small Business Assistance Center (NSBAC)
A partnership of the Municipality of Norristown and The Enterprise Center of Philadelphia, the NSBAC provides technical support to qualifying individuals and entities. Support ranges from business finances, business marketing - to business meetups and educational programs. Additionally, on behalf of Norristown, the NSBAC also serves as the initial point of contact for the Enterprise Center's loan program. For more information contact:
Bryan Smith, Business Consultant
Small Business Assistance Center
266 E Main Street
Norristown, PA 19401
Main Street Economic Initiative
Funded through the U.S. Department of Housing and Urban Development Community Development Block Grant Program, the Main Street Economic Development Initiative (MIEDI) is designed to help in job creation and retention in the Norristown Downtown Business District. Financial assistance up to $35,000 per job (in incremental disbursements) is available to qualifying business operations to create and/or retain jobs within the Municipality.