4 Pa. Code § 5.1042

Current through Register Vol. 54, No. 44, November 2, 2024

Section 5.1042 - Pennsylvania Office of Transformation and Opportunity responsibilities

The Pennsylvania Office of Transformation and Opportunity shall do all of the following:

(1) Create a systematic process for managing economic development projects involving the resources of multiple Commonwealth agencies to facilitate project management.

(2) Establish and monitor the progress of additional areas of economic development project support including serving as a one-stop-shop for coordination of Commonwealth agencies; expediting Commonwealth agency permit and license reviews; and ensuring speed of business review and approval of Commonwealth economic incentive programs.

(3) Work in partnership with the Department of Community and Economic Development (DCED) and all relevant State agencies in reviewing Pennsylvania and Federal funding applications to ensure they maximize the opportunity to attract transformational economic development projects.

(4) Establish objectives and targets for the implementation of transformative economic development projects prioritized by the Governor for the Commonwealth.

(5) Establish and monitor time-based standards for completion of each phase of a transformative economic development project.

(6) Work in partnership with DCED and all relevant State agencies and coordinate with the Governor's Action Team to ensure that thorough due diligence is performed for prioritized projects, which shall include overall economic impact of the project; the validity of its business model and likelihood of positive impact on an identified priority industry or sector; the impact on communities that have been disadvantaged and underserved; and the strength of commitments for private financing of the project.

(7) Work in partnership with DCED, all relevant State agencies, and the Governor to develop an overall economic development blueprint and strategy for the Commonwealth in identifying key industry and sectors where the Commonwealth has competitive advantages.

4 Pa. Code § 5.1042

Adopted by Pennsylvania Bulletin, Vol 53, No. 04. January 28, 2023, effective 1/28/2023

Amended by Pennsylvania Bulletin, Vol 53, No. 07. February 18, 2023, effective 2/18/2023