State Sens. Jim Brewster (D-Allegheny/Westmoreland), Vincent J. Hughes (D-Philadelphia/Montgomery), and John Yudichak (D-Luzerne/Carbon) recently announced a legislative package that focuses state efforts to develop manufacturing opportunities and create jobs.
“We need to focus our efforts and address all aspects of economic development, including manufacturing,” Hughes said. “We have to do better coordinating our efforts, funding job training, purchasing new equipment and investing in communities in need.”
Yudichak’s legislation would create a Chief Manufacturing Officer position within the governor’s office as well as a Manufacturing Competitiveness Board, which would help to create an overall manufacturing strategy.
Brewster’s legislation would channel up to $5 million in state grants from the state’s Machinery and Equipment Loan Fund for vocational-technical schools, vocational programs, and equipment purchases. It would increase the maximum loan amount from $5 million to $7.5 million and authorize loans to retrofit equipment.
Hughes’ legislation would increase the credit cap on the Manufacturing Tax Credit from $4 million to $12.5 million. A portion of the tax credit, up to $2.5 million, would also go to businesses in distressed communities. It would also be used for disadvantaged, minority, women and veteran-owned businesses.
According to the Center for Manufacturing Research, 12 percent of Pennsylvania’s gross state product is directly related to manufacturing, and the state has more than 550,000 workers engaged in manufacturing. Manufactured products account for $33 billion annually in exports.