Governor Wolf Talks Jobs, Workforce Development at Johnstown ‘Jobs that Pay Tour’ Stop

April 22, 2015

Johnstown, PA – Today, Governor Tom Wolf discussed job creation and workforce development on his “Jobs that Pay” tour at Johnstown Wire Technologies.

Governor Wolf’s budget makes significant new investments in manufacturing, economic development and workforce training aimed at rebuilding Pennsylvania’s middle class while reducing the corporate net income tax by 40 percent immediately and finally eliminating the Capital Stock and Franchise Tax. In order to revitalize our manufacturing sector, Governor Wolf’s budget will create a ‘Made In Pennsylvania Job Creation Program’ through a $5 million tax credit to be distributed to manufacturing companies that are creating good paying, middle class jobs and the IRC Manufacturing Initiative will mobilize the talents of Pennsylvania’s research universities to advance manufacturing technology and commercialization

“When I ran a business, finding talented people with the right skills was my highest priority. It’s what made us competitive in the marketplace,” Governor Wolf said. “My budget proposal recognizes that our responsibility to provide a great education does not end with high school. Reinvesting in higher education and community colleges will help prepare people for jobs that pay. Rebuilding the middle class and creating a better future for all Pennsylvanians depends on a skilled workforce and a pro-job creation business climate.”

In addition to increased funding for high school career and technical education programs and the reinstatement of the dual enrollment program, the Governor’s budget proposal encourages school districts, employers and postsecondary institutions to work together to create a seamless bridge for students transitioning from high school to college or a career.

Here’s how Governor Tom Wolf’s 2015-2016 budget brings jobs that pay back to Pennsylvania:

Cuts Corporate Net Income Tax in Half: Pennsylvania’s Corporate Net Income (CNI) Tax is driving companies and jobs out of our state. Governor Wolf’s budget incentivizes companies to come to Pennsylvania by reducing the Corporate Net Income Tax by 50 percent by 2018, flipping Pennsylvania’s ranking from the second highest rate nationwide (9.99%) to the fourth lowest rate (4.99%).

Eliminates the Capital Stock and Franchise Tax: Many years ago, Governor Ridge proposed the gradual phase-out of the Capital Stock and Franchise Tax—but the tax’s elimination has been delayed time and again. Governor Wolf’s budget will finally eliminate the Capital Stock and Franchise Tax.

Closes the Delaware Loophole: The corporate net income tax rate isn’t our only outdated tax structure. Existing loopholes in the tax code allow many companies to avoid paying state income taxes altogether – more than 70 percent of companies that do business in Pennsylvania don’t pay corporate net income taxes at all. Governor Wolf’s budget will close the Delaware loophole and level the playing field for Pennsylvania businesses.

Launches a “Made in Pennsylvania” Job Creation Program: Governor Wolf’s budget brings manufacturing jobs back to our state with the “Made in Pennsylvania” cash-back jobs program that rewards manufacturing companies that create good-paying, middle class jobs in Pennsylvania. Manufacturing jobs are good, family-sustaining jobs, and here in Pennsylvania we can make things again.

Invests in Workforce Development Through Industry Partnerships: Governor Wolf’s budget eliminates the disconnect between our education systems and the state’s economy by increasing funding for programs that provide Pennsylvania citizens with the technical training necessary to succeed in the 21st century.

MEDIA CONTACT: Jeff Sheridan – 717.783.1116

# # #

SHARE Email Facebook Twitter