Falls Company Gets $500K Tax Credit To Create Jobs

FALLS TOWNSHIP, PA — A Falls Township company is receiving a half-million dollar tax credit from the state designed to help it expand and create jobs in the area.

The $500,000 credit for LTL Color Compounders was part of $4.75 million in funding announced by Pennsylvania Gov. Tom Wolf on Wednesday through the state's Neighborhood Assistance Program.

Located at 20 Progress Dr. in the Morrisville section, LTL Color Compounders makes thermoplastic compounds for industries including healthcare, automotive, electronics and building and construction.

Created in 1991, the company currently employs about 60 people. It's planning an $8.4 million project that would nearly double the size of its current 62,000 square foot building in Falls.

State officials say the expansion will create 23 new jobs by 2022, with hiring expected to start in mid-2020.

On Wednesday, Gov. Tom Wolf announced $4.75 million in funding through Pennsylvania's Neighborhood Assistance Program. The program is designed to promote community participation and collaborations between nonprofits, businesses and residents.

Specifically, the collaborations are to help out distressed or low-income areas. In all, 17 projects were awarded funds.

"The Neighborhood Assistance Program demonstrates the value of public-private cooperation in ensuring the health of our communities, and the benefits that Pennsylvanians see through these partnerships," Wolf said in a news release. "The continually strong applicant pool and participation levels of this program demonstrate both its demand and the importance of the positive impacts it creates across the commonwealth."

The program can be used for projects in categories including affordable housing, community services, crime prevention, education, job training, charitable food, blight, special population issues, veteran’s initiatives and long-term community revitalization.

The Bucks County Opportunity Council, in Bristol Township, also received $18,000 through the program, Wolf announced Wednesday.

The money will help fund the group's program geared toward helping low-income families achieve economic self-sufficiency.