ERIE, PA (May 14, 2020) – Our last LERTA (Local Economic Revitalization Tax Assistance) Report was during the March 12th Press Conference. That was 8 weeks ago. Mid-March was followed by 7 very slow LERTA weeks with only 1.5 new permits for a total of $33,000 per week. That slow time was probably due to the COVID-19 Pandemic.
That changed dramatically during the last LERTA week that ended May 13th, when we had 5 permits issued for a total investment of $2,474,000. This is great news for Erie’s economy. There is much more detail in Mayor Schember’s Daily Message for today, which is attached. Feel free to use excerpts quotes from today’s Daily message, if you would like.
Mayor Schember is also willing to do interviews about this.
We are moving into the building season and last week’s LERTA is a sign that we are starting to come out of the economic slump caused by COVID-19. Our goal with LERTA remains that we will fuel Erie’s transformation with at least $ 50 million in LERTA applications by 7/3/20.
This press release will be available on the City of Erie’s website at cityof.erie.pa.us.