People Are Leaving PA…and Taking Their Money with Them

Why would anyone want to leave good ol' PA? 😪 Even if you love the Keystone State, apparently a lot of people don't. 👎 

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In fact, Pennsylvania's been experiencing a bit of an exodus over the last several years. Maybe they'd stay if they had some authentic South Philly Italian food from someone's cute little nonna?! 👵🏼🍝

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PA's just one of several states caught up in the country's overall migration and population redistribution. 🧳 The Southeast added roughly $100 billion in new income between 2020 and 2021 alone while Northeast neighbors lost $60 billion. 💸

Here’s Five Fast Facts on the impact of people leaving Pennsylvania:

1. 🔄 The Ol' Switcheroo - Experts are calling the phenomenon the "$100 billion wealth migration". Today, six Southern states (North and South Carolina, Florida, Texas, Georgia, and Tennessee) add more to the national GDP than the Northeast states.

2. 🛝 Sugar, We're Goin' Down - PA's share of the national GDP went from 4.02% in 2010 to 3.63% last year.

3. 🙋🏼‍♂️ Bye, Bye, Bye - According to US Census Bureau data, between July 2021 and July 2022, Pennsylvania's population dropped by over 40,000. That makes the state fourth out of all states experiencing population loss. 

4. 🏛️ Bounce House - Not to get all political, but PA's decline in population had a negative impact. In the latest round of redistricting, the state lost a seat in the US House of Representatives.
   
   
5. 🥨 Where's the Brotherly Love? - Zooming in a bit more, people are leaving Philly in big numbers, too. Over 22,200 moved out between July 2021 and July 2022, ranking Philadelphia number three among big US cities with a population decrease.

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🔥Bottom line: Across the USA, people are spreading out. Many are leaving certain states and big cities in search of a lower cost of living, more space, and better weather. Pennsylvania winters aren't for the faint of heart! Did you hear about PA's plans to boost the state's internet? Check out the details here. 

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Are you thinking about leaving PA?

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