In a newly released video, Gov. Josh Shapiro details how his administration has worked to make Pennsylvania more economically competitive by attracting more businesses and creating good-paying jobs.
Shapiro has helped to secure more than $3 billion in private sector investments to drive growth in key industries like agriculture, energy, life sciences, manufacturing, and technology. In January 2024, he launched the Commonwealth’s first Economic Development Strategy in nearly two decades, establishing a bold 10-year plan with goals to spur innovation, invest in growth, and open doors of opportunity for all Pennsylvanians.
“Pennsylvania wasn’t losing the game when it came to economic development — we never made it out on the field,” Shapiro said. “Part of the reason for that is we weren’t competing with our neighbors — New York, New Jersey, and Ohio — and we saw that there were some critical areas where we needed to invest.”
His economic development plan involves a historic injection of funds totaling $550 million into the state’s budget, specifically earmarked for enhancing various sectors critical to Pennsylvania’s growth.
The funding allocation includes $500 million dedicated to site development projects and an additional $20 million to rejuvenate Main Streets and bolster small businesses, vital components of local economies throughout the state. The budget also includes funds designed to support minority-owned businesses and to boost the state’s tourism sector, recognizing their significant roles in economic revitalization.
“We needed to invest in our Main Streets,” Shapiro said. “We needed to make sure that we turned these historical sites into new opportunities for vibrance. We knew we needed to invest in site development, because, after all, we didn’t have places across Pennsylvania we could bring would-be employers to and say, ‘Here’s where you should locate.’”
His administration’s streamlined approach to business development has also cut permitting and licensing times thanks to the launch of the PA Permit Fast Track Program and supported more than 400 transformative projects across the Commonwealth with $600 million in funding through the Redevelopment Assistance Capital Program. These efforts have revitalized rural, urban, and suburban communities alike, ensuring broad economic benefits for all Pennsylvanians.
“I get the privilege of traveling all across Pennsylvania, and no matter where you go — rural, urban, or suburban communities — the terrain may look really different, but folks kind of basically want the same four things,” Shapiro said. “They want really good schools for their kids and grandkids. They want to make sure that they’ve got safe communities to live in. They want economic opportunity. They want the freedom to chart their own course and the opportunity to succeed no matter where they are.”
Learn more about the Department of Community and Economic Development and its mission to encourage the shared prosperity of all Pennsylvanians by supporting good stewardship and sustainable development initiatives across the state.
Watch Gov. Josh Shapiro’s video on how his administration has positioned Pennsylvania as a national leader in economic growth.
