On Tuesday, Pennsylvania Gov. Josh Shapiro joined Rick Siger, Secretary of the Department of Community and Economic Development in announcing the first comprehensive economic development plan for the state in nearly 20 years.
Shapiro said the 10-year strategy will capitalize on Pennsylvania’s strengths and boost the state’s economy.
“For too long, Pennsylvania’s neighboring states have invested and focused on economic development while our Commonwealth has lacked a targeted game plan and serious investment,” Shapiro said. “With this plan, for the first time in nearly two decades, Pennsylvania has a serious economic development strategy that brings together our private and public sectors, our highly skilled workers, and our world-class universities.”
While the state faces numerous obstacles, like workforce challenges and a complex and underfunded set of economic development incentives, the economic development plan would capitalize on existing strides, the governor’s office said. Since taking office, Shapiro has secured $1.2 billion in private sector investment, cut business licensing time, added more than 100,000 new jobs and increased the state’s economic output.
The plans focuses on five goals – investing in economic growth to compete, continuing to make government work, opening door of opportunity for all Pennsylvanians, innovation, and building resilient regions that can provide for residents’ needs.
The plan, unveiled during a visit to manufacturing company OraSure Technologies, was well-received by business organizations.
“On behalf of the PA Chamber, the state’s largest broad-based business advocacy organization, the business community stands ready to work with the Governor, his Administration, and the legislature towards the shared goal of making Pennsylvania the most competitive state in the country to do business,” Luke Bernstein, President and CEO of the Pennsylvania Chamber of Business and Industry, said. .
Local business leaders agreed.
“Governor Shapiro’s new economic strategy for Pennsylvania is a smart and practical approach to economic growth that is focused on helping to create jobs and opportunity in the 21st Century,” Don Cunningham, President & CEO of the Lehigh Valley Economic Development Corp., said. “It’s long overdue for the state to have a comprehensive and strategic approach that will help all the regions of Pennsylvania thrive and prosper in a competitive world. It’s clear that a lot of thought and work was put into this plan.”