Shapiro Administration Highlights Importance of Investing in New Economic Development Strategy During Visit to Endless Energy in Luzerne County

The ten-year strategy guides our path forward to strong economic growth, jobs, and innovation.

Governor Josh Shapiro’s 2024-25 budget includes major investments in business, industry, workforce, and communities, as called for in the economic development strategy.

Wilkes-Barre, PA – Today, Department of Community and Economic Development (DCED) Secretary Rick Siger visited family-owned renewable energy company Endless Energy in Wilkes-Barre to highlight the importance of investing in the new Pennsylvania Economic Development Strategy — the first plan of its kind to guide the Commonwealth in almost 20 years.

Since he took office last year, Governor Josh Shapiro and his Administration have worked aggressively to make meaningful investments to position Pennsylvania as a leader in innovation and economic development. Governor Shapiro and Secretary Siger recently unveiled the strategy which will capitalize on the Commonwealth’s strengths and reignite our economy by focusing on the Agriculture, Energy, Life Sciences, Manufacturing, and Robotics and Technology sectors.

Yesterday, Governor Shapiro outlined his 2024-25 budget for the Commonwealth which includes major investments in business, industry, workforce, and communities as called for in the economic development strategy.

“For the first time in nearly two decades, we have a plan to grow our economy, compete in today’s global marketplace, make our communities vibrant, and give every Pennsylvanian a real opportunity for a good paying, family sustaining career,” said Secretary Siger. “Governor Shapiro knows that growing and strengthening our economy is the key to creating a better future for Pennsylvania ― and that’s exactly what his proposed budget will do.”

In Governor Shapiro’s first year, this Administration worked aggressively to grow our economy – securing over $1.2 billion in private sector investments, significantly cutting down business licensing time, and rethinking the way government works to operate at the speed of business.

Building on that progress and to take our economy to the next level, Governor Shapiro and DCED created Pennsylvania’s first comprehensive economic development strategy in nearly two decades. The Governor’s 2024-2025 budget calls for $600 million in total new and expanded investments to implement this strategy, increase Pennsylvania’s competitiveness, and deliver real economic growth. The investments include:

• $500 million in PA SITES funding to bring more commercial and industrial sites online and ensure companies have options for attractive business environments where they can move quickly and thrive in Pennsylvania.
• $25 million for the Main Street Matters program, to support small businesses and commercial corridors that are the backbone of communities across our Commonwealth.
• $20 million to support large-scale innovation and leverage Pennsylvania’s best-in-class research and development assets.
• $3.5 million to create and launch the Pennsylvania Regional Economic Competitiveness Challenge, which will incentivize regional growth, build vibrant and resilient regions, and support communities by investing in the development of comprehensive strategies to propel entire regions forward.

“Governor Shapiro and his team are working tirelessly to strengthen Pennsylvania’s economy,” said Senator Marty Flynn. “Their Economic Development Strategy isn’t just talk; it’s about taking action and getting things done. They’re confronting our challenges head-on and making the most of every opportunity to propel our state forward.”

“Governor Shapiro’s budget initiatives will make an incredible difference in terms of economic growth and revitalization across the Commonwealth, especially in communities like Wilkes-Barre and others across the northeast, which are working hard to attract business and become more vibrant,” said Representative Eddie Day Pashinski. “The Shapiro Administration has developed a plan that will advance Pennsylvania as a leader in business and innovation and improve the quality of life for everyone who lives and works here, and he is determined to make it happen. And I certainly support his efforts.”

“As a growing renewable energy company, we applaud Governor Shapiro’s leadership and support the Pennsylvania Economic Development Strategy and his plans for investing in it,” said Michael Pitcavage, Endless Energy CEO. “The resources outlined in the plan will help family-owned businesses like ours, and we are excited about Pennsylvania’s economic future and the future of renewable energy.”

Pennsylvania has a strong foundation for the new economic development strategy, including: our proximity to major U.S. markets and relative low cost of doing business; the more than 23 Fortune 500 companies and over 1 million small businesses in the Commonwealth; 190,000 skilled graduates produced by our colleges and universities every year; a diverse, talented workforce, and much more.

The Shapiro Administration’s ten-year economic development strategy centers upon five goals:

• Invest in our economic growth to compete and prioritize economic development investments that result in real opportunities for our businesses, communities, and residents.
• Continue to make government work at the speed of business, and ensure all companies find an attractive business environment where they can innovate and thrive.
• Open doors of opportunity for all Pennsylvanians and enable every Pennsylvanian to secure a family-sustaining job and have a meaningful career.
• Innovate to win, because innovators become entrepreneurs and new discoveries enable our people and companies to succeed.
• Build vibrant and resilient regions, where every community flourishes and provides for the needs of all residents and businesses

The comprehensive strategy was developed with extensive input from partners in local government, the private sector, the economic development community, labor, higher education, and the nonprofit sector.

For more information on the investments proposed in Governor Shapiro’s Bold Vision and Balanced Budget visit Governor Josh Shapiro’s Budget website.

The full Economic Development Strategy is available at Pennsylvania Gets It Done website.

For more information about the Department of Community and Economic Development, visit DCED website, and be sure to stay up-to-date with all of our agency news on Facebook, X, and LinkedIn.

MEDIA CONTACT:
Penny Ickes, dcedpress@pa.gov