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ARTICLE · 22 FEBRUARY 2024

Governor Josh Shapiro Launches First Statewide Economic Development Strategy In Nearly Two Decades

K&L Gates
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From 2018 to 2022, Pennsylvania was outspent on economic development incentives by neighboring states in both total incentive spending and average deal size. Over the same period...

United StatesStrategy
K&L Gates
K&L Gates
Michael F. Doyle
Michael F. Doyle
Tracy L. Lawless
Tracy L. Lawless

From 2018 to 2022, Pennsylvania was outspent on economic development incentives by neighboring states in both total incentive spending and average deal size. Over the same period, neighboring states also outspent Pennsylvania on discretionary economic development funding and on site development funding. This resulted in our neighboring states winning more deals, attracting more private capital investment, and successfully bringing online more commercial and industrial sites than Pennsylvania.

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Image Source: US Dept of Commerce, International Trade Administration (2021)

To address this issue, Governor Josh Shapiro and Department of Community and Economic Development (DCED) Secretary Rick Siger have announced Pennsylvania's Economic Development Strategy ― the first comprehensive plan of its kind to guide the Commonwealth's economic growth in almost 20 years.

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