NEW REPORT: Under Gov Shapiro PA Remains Only State Northeast Growing Economy | Commonwealth of Pennsylvania

Harrisburg, PA - New analysis out today from Moody's Analytics Chief Economist Mark Zandi confirms that Pennsylvania remains the only state in the Northeast with a growing economy, continuing a trend of economic leadership under Governor Josh Shapiro's leadership.

Moody's new report found that Pennsylvania is among just 16 states nationwide where the economy continues to expand, based on state-level jobs data, industrial production, personal income, and housing starts.

Since taking office, Governor Shapiro has made Pennsylvania more competitive - cutting permit and licensing backlogs, streamlining approvals, and launching the Commonwealth's first economic development strategy in nearly two decades. These reforms have helped attract nearly $26 billion in private-sector investment and create more than 13,200 new jobs across the Commonwealth.

In October alone, the Governor and his Administration announced new investments that build on that growth:

• Eos Energy Enterprises is investing $352.9 million to relocate its headquarters from New Jersey to Pittsburgh, creating and retaining 1,000 jobs.
• Mint-X is investing $10.5 million to relocate manufacturing operations from New York to Luzerne County, creating over 100 jobs.
• Imperial Systems, Inc. is investing $8 million to expand its air filtration equipment manufacturing operation in Mercer County - creating 47 new, full-time jobs and retaining 145 current positions.
• Nichols Portland, Inc. is investing $4.7 million to expand its metal forming operations in Elk County - creating 42 new jobs and retaining 285 existing positions.
• In Erie, the Commonwealth is investing $9.5 million through the Redevelopment Assistance Capital Program (RACP) to support the Market House, a new 27,000-square-foot marketplace for local businesses and artisans.

This year alone, through the PA SITES program, the Administration has invested $113.6 million to prepare 29 shovel-ready sites for business growth statewide. Earlier this month, Area Development ranked Pennsylvania among the Top 20 Best States for Business - and the only Northeastern state to make the list - citing its #1 ranking in Regional Economic Competitiveness by Site Selection Magazine.

From cutting red tape to securing record-breaking investments like Amazon's initial $20 billion AI and cloud computing campuses, Governor Shapiro's focus on competitiveness and results is delivering real growth and opportunity for Pennsylvania.

Learn more about the Shapiro Administration's efforts to support Pennsylvania's workers and businesses and spur the economy in the Governor's 2025-26 budget proposal at shapirobudget.pa.gov and discover how the Administration is creating economic opportunity to build a stronger, more competitive economy for all Pennsylvanians.

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