Pennsylvania is Open for Business: Bipartisan Budget Includes Governor Shapiro’s Proposed Funding to Spur Job Creation, Foster Innovation, and Make Pennsylvania more Economically Competitive
August 16, 2023
“The 2023-24 budget provides increased funding for key programs at the Department of Community and Economic Development, which marks an important step towards scaling our assets in innovation, investing in diverse businesses, and spurring job creation”
“Investments in such programs as the Manufacturing PA Innovation and Historically Disadvantaged Business Programs will spark the innovative spirit and enhance economic growth opportunities…”
Harrisburg, PA – Governor Josh Shapiro and the Department of Community and Economic Development (DCED), under the leadership of Secretary Rick Siger, have led a renewed focus on economic development to send the clear message that Pennsylvania is open for business to attract and retain businesses to Pennsylvania and bring transformational good-paying jobs to the Commonwealth.
Since taking office, the Shapiro Administration has secured over $700 million in transformational investments for Pennsylvania communities, positioning the Commonwealth to be a leader in innovation and economic development. Building on these investments, the 2023-24 bipartisan, commonsense budget makes significant investments to make Pennsylvania a leader in economic development, innovation, and job creation.
As Governor Shapiro said in his budget address, “we also need more funding to attract and retain businesses here in the Commonwealth. We’ve seen what other states are doing, and we need to get in the game. […] It takes money to be competitive.
I’m asking you to believe in us and our businesses, workers and students and make these investments so we can bring more innovative businesses to Pennsylvania and create thousands of new good-paying jobs.”
This budget delivers some of those resources. To create a Pennsylvania economy that works for all and make Pennsylvania a leader in innovation and economic development, the 2023-24 budget includes Governor Shapiro’s proposed additional investments at DCED, including:
- $13 million increase for the Pennsylvania First Program to make the Commonwealth more competitive on a national scale by increasing our incentive leverage to attract and retain businesses and train our workers.
- $1 million increase for the Manufacturing PA Innovation Program, which connects Pennsylvania’s universities with businesses to spur innovation and job creation here in the Commonwealth.
- $1.25 million increase for the Strategic Management Planning Program to equip communities with successful long-term financial management strategies and avoid financial distress.
- $1.45 million increase for the Municipal Assistance Program to help communities with the costs of municipal services, planning, and land use strategies.
- $3 million to the Foundations in Industry Program for pre-apprenticeships and apprenticeships.
Read what Pennsylvania economic development industry leaders are saying about Governor Shapiro’s investments in Pennsylvania:
President and Chief Executive Officer of the Chamber of Commerce for Greater Philadelphia Chellie Cameron: “To remain competitive on a global stage, Pennsylvania has to invest in its economic strengths and support the growth of small and diverse businesses across the state. The 2023-24 budget provides increased funding for key programs at the Department of Community and Economic Development, which marks an important step towards scaling our assets in innovation, investing in diverse businesses, and spurring job creation. We hope to build on this momentum through subsequent state budgets to firmly establish Pennsylvania as an inclusive economic leader.”
President & CEO of the Greater Wyoming Valley Chamber of Commerce and Greater Wilkes-Barre Chamber of Business and Industry Lindsay Griffin-Boylan: “Strong investment in community and economic development is critical to ensure that regions such as Northeastern Pennsylvania are equipped to compete on the national stage. Investments in such programs as the Manufacturing PA Innovation and Historically Disadvantaged Business Programs will spark the innovative spirit and enhance economic growth opportunities, while investments in Apprenticeships, Workforce Training, and Vocational and Technical Education will help align the current and future workforce to meet the needs of our businesses across the Commonwealth and here in Northeast PA.”