So far in 2024, PA's Governor Josh Shapiro has been a busy boy! 🌟 He's got plans to use millions of dollars to create a ten year plan for the economy. 🤑
Plans include breathing new life into an aging workforce, competing with neighboring states to bring big corporations to the Keystone State, and beefing up commercial and industrial sites. 🏭 Very busy indeed.
Here’s Five Fast Facts on Shapiro's economic plans:
- 🙋🏻♀️ Hi, Neighbor - Shapiro's big announcement comes on the heels of PA's neighbors attracting multibillion-dollar microchip, electric vehicle and battery factories. Take Ohio for example: in 2022, chipmaker giant Intel invested $20 billion to create a brand new technology hub.
- 📋 Budget Breakdown - Shapiro is proposing $25 million go towards small businesses and commercial corridors. An additional $3.5 million will go towards creating the brand new Pennsylvania Regional Challenge, a program that incentivizes regional economic growth. Shapiro is also asking for $2 million to develop PA's workforce and create more internships, hoping to keep folks in the state after graduating college.
- 👷 Interesting Industries - The Shapiro administration plans on focusing on five key industries: agriculture, energy, life sciences, manufacturing and robotics, and technology. Money will also be set aside to help entrepreneurs and start-ups.
- 🎖️ Gold Star - So far in his position as governor, Shapiro has worked to shorten the wait time for state-issued licenses and permits. He also helped PA secure federal funding to establish two hydrogen hubs in the state.
- 🫤 The Physical Challenge - PA's payroll numbers hit a record high in December, but the state's labor force still hasn't recovered from the pandemic. Compared to other states, Pennsylvania has a relatively older, slower-growing workforce.
🔥Bottom line: Some folks are skeptical of Shapiro's plans. Officials in the business world aren't sure PA has enough available land to attract big projects like Ohio. We'll see how it all pans out! Curious about your neighbors in the Buckeye State? Here's a recap of all the bills and budgets passed in 2023.
What do you think of PA's ten year plan?
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