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Are you a business owner interested in receiving tax credits and willing to invest in your community's health and wellness?
Loyalsock Foundation will once again be reaching out to local businesses to participate in the state Department of Community and Economic Development Neighborhood Assistance Tax Credit Program.
According to a news release, the goal of this program is to bring together businesses and non-profit organizations to benefit local communities. Participating businesses may receive a 75% tax credit against PA state taxes by making a contribution to Loyalsock Foundation in 2023.
Last year, Loyalsock Foundation received $220,000 in corporate donations for the engineering design and development of a .516-mile gravel access road/driveway to its proposed community wellness center, The Summit: Center for Wellness, located in Laporte Township, Sullivan County. Contributing businesses included Cargill, Inc., New Legacy Ford, Fish Real Estate and Coterra, the news release said.
This year's funding request is designated for the physical construction of the permanent driveway, tentatively scheduled for 2024. This project will cost about $1 million and is critical to advancing Loyalsock Foundation's vision of building an indoor wellness facility and providing outdoor recreation opportunities for Sullivan County's residents, both permanent and seasonal and visitors to the area.
Loyalsock Foundation volunteers will be contacting businesses throughout the area beginning in February to provide information and answer questions about this program, the news release said.
If you are interested in learning about this Pennsylvania tax credit program that gives businesses the ability to direct tax dollars to benefit their local community, please contact Loyalsock Foundation at info@loyalsockfoundation.org or 570-212-9012.