Infrastructure Investment Authority

Governor's Executive Budget Program Measures

Grant equivalent subsidy per household served
The calculation to get this dollar value looks at the difference between the current market interest rate at the time of the project approval and the actual PENNVEST interest rate for the project. From that we calculate a $ savings per household. If there is grant money included in the project, that amount is added to the $ savings against a market rate loan. This provides a total dollar savings per household vs. a loan through another institution at the current market interest rate. This measure can fluctuate from year-to-year based on grant availability and current interest rates but overall, this measure shows that financing through PENNVEST provides a significant savings, per household, to utility customers vs. financing their project through another institution.
Percentage of total project funding allocated to projects that would otherwise have higher financing rates
Similar to the program measure listed above, the dollar value savings is calculated on PENNVEST financing vs. financing a project through another institution. This dollar savings is divided by the amount of the project to determine the "percentage of total funding allocated to projects that would otherwise have higher financing rates". This percentage can fluctuate from year to year but consistently, PENNVEST offers better financing than current market alternatives. This provides savings to the customers that are served by the utility.
Population affected by drinking water projects funded in each year
This measure represents the number of people (drinking water utility customers) whose water quality improved as a result of PENNVEST financed projects that year. Based on the number of drinking water projects approved each year and population size of the projects financed, this number fluctuates year-to-year but every year Commonwealth citizens benefit as a result of PENNVEST funded drinking water projects.
Drinking water projects approved that will maintain or bring customers' water into compliance with commonwealth drinking water standards
This measure represents the number of drinking water facilities that are brought into compliance or maintain water quality compliance as a result of PENNVEST funded projects. This number has trended up in recent years as regulations on drinking water standards tighten and as move funding is being targeted towards improvements to drinking water quality standards.
Sustainable jobs created by PENNVEST-funded projects
This measure shows the number of sustainable jobs that are created each year as a result of PENNVEST funded projects. This measure can vary based on the type of projects that are funded each year and whether those projects create new, sustainable jobs. The sustainable jobs created by a project are identified by DCED in their analysis that is performed on each project.