State College, PA – Today, Governor Tom Wolf was joined by Penn State President Eric Barron and state and local leaders at Happy Valley LaunchBox in State College to discuss the importance of entrepreneurship and outline initiatives in his 2017-2018 budget proposal that encourage job creation and improve university partnerships and workforce training.
“Over the last two years I have worked to increase the number of residents with college degrees and high-value industry-recognized credentials while expanding economic opportunities for residents and businesses,” said Governor Wolf. “This budget is a new way forward for Pennsylvania and today, I am happy to highlight how government is working smarter to support our research institutions and entrepreneurs.”
The governor’s budget includes an initiative that partners the commonwealth’s research universities and Industrial Resource Centers to accelerate manufacturing technology advancement and adoption, foster manufacturing innovation and commercialization, and build a 21st century workforce.
“Governor Wolf and I share a strong commitment to promoting economic development and student career success, and I’m very pleased he could be with us to see first-hand some of the exciting developments at Penn State,” said Penn State President Eric Barron. “Invent Penn State is driving innovation and entrepreneurship across the commonwealth, and I look forward to partnering with the governor and our legislators to further its impact.”
The 2017-18 budget continues to invest in 21st century manufacturing, workforce development and training programs while also implementing new safeguards to ensure taxpayer dollars for economic development projects are spent appropriately and intended outcomes are met.
Along with connecting the commonwealth’s research institutions to the business community, Governor Wolf plans on investing in job creation by:
- Creating a new apprenticeship grant program to ensure workers can receive training aligned to business workforce needs, funded with revenue recovered from companies that fail to live up to previous commitments made when they received state assistance.
- Investing $5 million in a manufacturing training-to-career grant program to partner with technical programs and community colleges to develop new training programs that align with their workforce needs.
- Cutting through red tape by establishing a one-stop shop at the Department of Community and Economic Development for the business community to interact with for centralized licensing processes and information on services the commonwealth provides to help them grow.
- Expanding proactive business outreach efforts through the Partnerships for Regional Economic Performance (PREP) program by investing $2.5 million to support businesses that already have roots in Pennsylvania.
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