GOP-Led Economic Stimulus Program Leads to Increased Survey of State Enterprises | News, Sports, Jobs
In January 2021, we stood at the Pennsylvania Capitol to announce the formation of an Economic Recovery Task Force that would inform the Commonwealth’s economic recovery from the COVID-19 pandemic.
While the Pennsylvania of nearly 20 months ago was very different — we were all in masks, socially distanced, and still didn’t have access to today’s vaccines and treatments — we knew we would need a serious effort to correct our economic trajectory and meet the challenges ahead of us.
We knew then that we had to start pulling together Pennsylvania’s legislative resources to craft an agenda for economic recovery and growth that will lift Pennsylvania out of the pandemic and into a brighter future.
Fast forward to July 2022, and as the country slipped into a recession with two quarters of negative growth, we have some positive news to report closer to home.
Pennsylvania was just named one of America’s Best States for Business in 2022 by CNBC.
The state fell from 23rd place to 17th.
This is clear evidence that Pennsylvania is rebounding strongly from restrictions caused by the COVID-19 pandemic, which is due in large part to recommendations from the House Economic Recovery Task Force formed last year to find ways to fuel our recovery from the economic downturn.
Consider the biggest improvement from the 2021 CNBC rankings: Pennsylvania jumped from 14th to 7th place in technology and innovation.
It confirms that Pennsylvania is a leader in STEM research and medicine and shows the way forward. Our job is to continue to attract the brightest minds to the state through economic incentives and the attraction of a first-class workforce.
Among other improvements cited: Pennsylvania moved from 28th to 22nd place in the cost of doing business category.
That is why it was so important to include in the budget a reduction in net corporate income tax for the state. The more we can reduce the costs of doing business in the Commonwealth, the greater the job growth.
Our task force and the work of its members have laid the foundation for this recovery. He endorsed the removal of disincentives the pandemic has caused to state-owned enterprises, especially those in the service sector, and developed solutions that have enabled our businesses to thrive and hire more employees.
We have worked to get government out of the way and continue significant and truly unprecedented reform and relief efforts while amending our constitution to provide certainty to Pennsylvanians and Pennsylvania businesses that they cannot be unilaterally shut down indefinitely.
We have also worked collectively as a caucus to provide tax relief and simplification for small businesses, help struggling families, and provide resources to our family farms and family businesses.
Above all, we have reduced the temptation to engage in Washington’s inflationary policies by keeping spending low, adding additional resources to our Rainy Day Fund, and maintaining a surplus heading into the next fiscal year so that we may continue to be well positioned to weather the headwinds of today’s economy without raising taxes or cutting government services.
The uptick noted in the Pennsylvania Business Outlook report is confirmation that our policies are lifting our state’s economy at a time when the national economy is struggling.
When CNBC designed its study, it scored all 50 states on 88 metrics in 10 broad competitiveness categories, including infrastructure, in which Pennsylvania ranks 12th; business friendliness, in which the state fell from 39th to 26th place; access to capital, where Pennsylvania fell from 12th to 9th place; and education, where the state has maintained its 5th rank in the nation.
While much more needs to be done, this report is proof that Pennsylvania has pulled itself together with policies that are supportive of businesses and the jobs they create.
Kerry Benninghoff represents the 171st district in the Pennsylvania General Assembly in Central and Mifflin counties. Wendi Thomas represents Bucks County’s 178th District. Aaron Kaufer represents Luzerne County’s 120th District.