GOVERNOR RENDELL SAYS INVESTMENTS CREATING JOBS, PRODUCING RESULTS IN MIDSTATE
Speaking to members of the Harrisburg Regional Chamber of Commerce, Governor Edward G. Rendell today said Pennsylvania's business climate has improved in the last three years thanks to strategic investments in business and communities.
"We have made investments that are supporting business growth and job creation all across the commonwealth," Governor Rendell said. "This investment in our communities, our businesses and our people, combined with significant reductions in business taxes and an innovative $2.8 billion economic stimulus package, have helped our economy make a significant around.
"Pennsylvania is enjoying a strong competitive position among states and in global markets. My proposed budget for 2006-07 includes more than $221 million in new business tax reductions for a cumulative total of nearly $1 billion.
"It is this type of bold action that has pushed Pennsylvania up the ladder to 15th nationally in employment growth. That's up from 46th in 2004. That's tremendous progress and a testament to our workforce. Businesses are noticing and they are choosing to re-locate or expand here."
Governor Rendell said Dauphin, Cumberland and Perry counties are proof of the impact of the state's investments. He said the commonwealth invested more than $5 million in grants and loans last month to support the building of the Hershey Center for Applied Research, which will create at least 720 new jobs. This one-of-a-kind facility will showcase the area's research capacity and encourage additional bioscience investors to take a look at the exciting medical research that is happening in central Pennsylvania
In all, almost $400 million has been invested in the three counties since Governor Rendell took office. This has helped to create 6,900 new jobs in the three-county region.
"My goal since day one has been to rebuild our economy, create new jobs and revitalize our communities and, while we have more work to do to ensure that all Pennsylvanians can enjoy our turnaround, we're well on our way."
The Governor's stimulus package targets $2.8 billion in public investments to leverage at least $5 billion worth of private sector investments in economic- and community-development projects. All 19 programs in the stimulus package have now been approved with commitments for nearly 1,400 projects statewide that are worth approximately $1.3 billion. The investments will eventually bring more than 125,000 jobs to the commonwealth. They have already leveraged more than $2 billion in additional private and local funds.
"My plan to make proactive, strategic investments to rebuild our economy and revitalize our communities is paying off," Governor Rendell said. "Pennsylvania has gained 119,000 jobs since January 2003 and that is great news for our economy."
The Pennsylvania Chamber of Business and Industry agrees. The Chamber's 2005 economic survey of its members revealed that about 80 percent of those polled said they expect to increase their investments in their companies in the next 12 months.
Founded in 1912, the Harrisburg Regional Chamber represents 1,660 businesses in Cumberland, Dauphin and Perry counties and leads the economic development efforts through its Capital Region Economic Development Corporation, or CREDC.
The Governor's Luncheon is one of the largest events presented by the Harrisburg Regional Chamber and gives the Governor an opportunity to talk with business leaders about governmental goals and initiatives that will affect the local economy.
For more information on Governor Rendell's economic stimulus package and DCED's innovative programs, visit www.newPA.com, or call 1-866-GO-NEWPA (1-866-466-3972).
http://www.state.pa.us/papower/cwp/view.asp?A=11&Q=452812