Gov. Tom Corbett today awarded a City Revitalization and Improvement Zone program Pilot Zone designation to the borough of Tamaqua.

Through innovative financing that will not place undue strain on the General Fund, the CRIZ program provides designated municipalities an opportunity to leverage state tax dollars to spur private investment in under-utilized properties. State and local taxes collected within the CRIZ will be used to repay debt service to spur economic development projects within the zone.

"Our local communities are critical to Pennsylvania's economy," said Gov. Corbett. "By creating a CRIZ Pilot Zone in Tamaqua, we are helping the borough attract new private investment to spur job growth."

The borough will work closely with the Department of Community and Economic Development and the Department of Revenue to identify priority projects within their applications.