Promoting Employment Across Pennsylvania Program (PEP)
House Bill 2626 will create the Promoting Employment across Pennsylvania (PEP) program. The program allows qualified companies to keep 95 percent of the state Personal Income Tax (PIT) revenue they withhold on behalf of their employees. The remaining 5 percent will be remitted to the Commonwealth.
The legislation defines a “qualified company” as a for-profit entity that agrees to create at least 250 new jobs within 5 years, and makes available to its full-time employees health insurance coverage and pays at least 50% of the premium for the health insurance. At least 100 jobs must be created within the first two years of the date of the agreement.
There are a lot of terms and conditions that are applicable. Also, there is a local Tax Incentive program exclusively in Pike County. If you contact the Pike County Chamber of Commerce we will keep you informed as these bills move through the approval process.