NEPA Alliance holds media event with The Ritz Theater in Scranton.

Northeastern Pennsylvania Alliance (NEPA) held a media event with The Ritz Theater in Scranton.

Pictured from left: James Hazen, Lackawanna County; James Olecki, The Ritz Theater; Jack McNulty, NEPA Board; Patti Monahan, Senator Bob Casey’s Office; Jeffrey Box, NEPA Alliance and Phil Condron, NEPA Board.

The Ritz Theater is an event space in downtown Scranton, PA. They host numerous events (i.e. concerts, parties and theme nights) and serve food and drink on site through “Noir Dark Spirits”, the bar/restaurant inside the theater. The Ritz’s mission is to drive economic vitality in downtown Scranton while resurrecting the historic Ritz Theater and Performing Arts Center.

NEPA provided The Ritz with two loans – one through the SBA 504 program and one through an EDA Cares Act Revolving Loan fund. The loans provided funding to the borrowers to help purchase the building and complete necessary renovations to make the space operational. NEPA partnered with First Keystone Community Bank on this project.

“As we evaluated financing for The Ritz project, NEPA Alliance was the perfect partner because of our shared goal of revitalizing downtown Scranton,” said James J. Olecki, co-owner and Chief Executive Officer. “Our vision from the onset was to create a premier arts and entertainment venue that brings the community together and serves as an inspiration to the region.  I’m proud to say that with the help of the NEPA Alliance team, the Ritz is alive once again.  Millions of dollars have been invested, five new businesses have come to Lackawanna County, and over 50 new jobs have been created within the theater.  Never doubt what collaboration and commitment can do to change the world.”

“NEPA Alliance is proud to have assisted The Ritz Theater in the growth of their business”, said Jeffrey Box, President & CEO of NEPA Alliance.