As Pennsylvania moves toward a 21st-century economy, leaders at the state and local level continue to make efforts to draw new businesses to the Commonwealth by offering a strong and well-trained work force as well as tax and economic developments incentives. This year, both the legislature and the Governor’s office rolled out policies aimed at bolstering Pennsylvania’s economy now and for continued success in the future.

Legislation

This year, the legislature enacted several bills with an eye toward making Pennsylvania more business-friendly.

  • Act 32/H.B. 653 (Masser, R-Northumberland) limits the use of the expedited foreclosure process for vacant and abandoned properties in order to assist local governments to rebuild their communities.
  • Act 72/S.B. 1056 (Brooks, R-Erie) clarified business bonus depreciation rules in response to the Federal Tax Cuts and Jobs Act.
  • Act 100/H.B. 645 (O’Neill, R-Bucks) doubled the amount of funding available for the Neighborhood Assistance Tax Credit Program (NAP).
  • Act 107/H.B. 1285 (Maloney, R-Berks) directed the Department of Community and Economic Development to develop a one-stop-shop for permitting businesses in Pennsylvania.
  • Act 111/H.B. 1840 (Kauffman, R-Franklin) clarified guidelines to be used in the calculation of workers’ compensation.

RACP

This year, Buchanan helped to obtain $21,750,000 for clients through the popular Redevelopment Assistance Capital Program. RACP funds go toward the development of economic, cultural, civic, recreational and historical improvement projects in the community.

From the Governor

In the beginning of the year, the administration announced the termination of the city of Pittsburgh’s status as a distressed municipality under Act 47. Pittsburgh operated under Act 47 status for 14 years, entering on December 29, 2003. Department of Community and Economic Development (DCED) Secretary Dennis Davin found that “careful budget governance and a recent surge in the city’s technology and medical sectors, the city has stabilized its finances, and now operates with healthy surpluses that are projected to continue.”

Neither Philadelphia nor Pittsburgh were chosen as the site of Amazon’s new headquarters; nevertheless, DCED offered a list of reasons for businesses to come to Pennsylvania. On that list, the PA Smart Initiative, which will provide $30 million to invest in K-12 computer science and STEM education, expand apprenticeships and support job training in the Commonwealth. The Governor also announced expanded opportunities for small and diverse businesses and public-private partnerships.