BLOG: Building Pennsylvania’s Economy in 2015
By: Dennis Davin, Secretary of Community and Economic Development
January 13, 2016
This year has brought about a tremendous amount of success for Pennsylvania’s economy. We are fortunate to have a governor that is dedicated to supporting economic development initiatives. Governor Wolf is focused on real opportunities for the Pennsylvania’s future, not just for today. Our plan for the commonwealth is tangible and more importantly achievable, with no incentives based on gimmicks, but real plans for a Pennsylvania that boasts jobs that pay, schools that teach, and a government that works.
In 2015, the Department of Community and Economic Development (DCED) approved more than $1.3 billion in low-interest loans, tax credits, and grants for projects across the commonwealth and secured private sector commitments for the creation and retention of more than 135,000 full-time jobs.
Watch Secretary Davin talk about how DCED has been delivering positive economic results by supporting Governor Wolf’s Jobs That Pay initiative.
This year DCED also experienced success on the international front and assisted over 325 Pennsylvania companies in securing more than $748 million in export sales.
Sufficient access to broadband service has become increasingly important for the growth of Pennsylvania communities and businesses. This year, our department supported 62 projects in 31 counties that will help communities overcome the challenges that may exist in securing broadband access.
In 2015, DCED also celebrated the termination of Act 47 status in two municipalities: Nanticoke, Luzerne County and Clairton, Allegheny County. These achievements mark the first and second cities ever to exit the program.
DCED was the proud recipient of numerous awards in 2015. Most recently, the Pennsylvania Economic Development Financing Authority (PEDFA) received recognition as the Northeast Region’s 2015 Deal of the Year by The Bond Buyer for the largest private activity bond financing of a public-private partnership in U.S. history and the largest road project in Pennsylvania’s history.
In the field of economic development it can be difficult at times, but at the end of the day we must continue to find inspiration in our successes. The success stories of the past define the successes of today which lead to the motivation for the future. We are looking forward to continuing our efforts in advancing Governor Wolf’s vision in 2016 and showcasing why Pennsylvania is truly the best place to do business.
Read more agency year in review blog posts.
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