Governor Shapiro’s Economic Development Strategy is Delivering Results: More Than $25 Billion in Private Investment, Thousands of Good-Paying Jobs, and the Largest Private[...]

Since taking office, Governor Shapiro and his Administration has made Pennsylvania more competitive, cut red tape, and attracted over $25.6 billion in private sector investment - creating more than 12,400 good-paying jobs across key industries.

Governor Shapiro's Administration is setting records, creating more opportunity for Pennsylvanians across the Commonwealth.

Harrisburg, PA - Under Governor Josh Shapiro's leadership, Pennsylvania is emerging as a national model for economic development - delivering real results that position the Commonwealth to compete and win, attract investment, and create opportunity in communities across the state. As the Governor speaks to the PA Chamber of Commerce & Industry's Annual Dinner this evening, Pennsylvania is winning major economic deals.

From day one, Governor Shapiro has prioritized making Pennsylvania more competitive - launching the Commonwealth's first economic development strategy in nearly two decades, securing $550 million for site development, Main Streets, workforce training, innovation and small businesses, and streamlining permitting, licensing, and certification processes to help projects get built faster.

"Pennsylvania is competing again - and we're winning," said Governor Shapiro. "We're building new industrial sites, revitalizing our Main Streets, and supporting small businesses across the Commonwealth. We've cut permitting times and taxes, reduced backlogs and waitlists, and made government move at the speed of business. As a result, we're winning historic deals including the largest private sector investment in our history and we're attracting more companies to grow here and create good-paying jobs for Pennsylvanians. The Commonwealth is open for business - and we're just getting started."

The Shapiro Administration has secured a record $25.6 billion in private-sector investment and created nearly 12,400 new jobs since taking office - transforming communities and positioning Pennsylvania for sustained, long-term growth.

Governor Shapiro has also cut taxes, modernized government, and expanded funding to prepare more sites for business expansion - helping Pennsylvania earn the title of #1 State in the Northeast for Regional Economic Competitiveness from Site Selection Magazine. These reforms have also helped attract the largest private-sector investment in Pennsylvania's history: a $20 billion initial investment from Amazon to build new AI and cloud computing campuses across the Commonwealth, creating thousands of high-tech and construction jobs.

Cutting Red Tape and Moving at the Speed of Business

Under Governor Shapiro's leadership, Pennsylvania is reforming government and delivering faster, more predictable permitting and licensing processes that give businesses the certainty they need to invest and grow.

When the Governor took office, business filings could take up to eight weeks to process. Now, entrepreneurs can receive approvals in as little as one day. The Department of Environmental Protection has eliminated 98 percent of its permit backlog and processed over 20,000 labor-intensive permits this year.

Governor Shapiro has transformed how Pennsylvania does business by making government more efficient and responsive:

• Launched the Office of Transformation and Opportunity (OTO) to coordinate permitting and business support, assisting over 200 companies in 2024.
• Created the PA Permit Fast Track Program, the first in the nation for multi-agency coordination to expedite major projects - now supporting 7 public-facing projects.
• Introduced PAyback, a money-back guarantee for timely permit and license processing - with over 40 million applications processed and only five refunds issued to date.

Securing Historic Investment and Growing Pennsylvania's Economy

Governor Shapiro's focus on competitiveness and reform has led to record-breaking private investment across Pennsylvania.

In June, the Governor announced Amazon's $20 billion investment to establish high-tech cloud computing and AI innovation campuses - the largest private sector investment in Pennsylvania history - creating at least 1,250 high-paying, high-tech jobs in Westmoreland and Bucks Counties. The Shapiro Administration also committed $10 million for workforce development to expand vo-tech programs, add new CTE classes, and build training centers that prepare Pennsylvanians for these jobs of the future.

Companies like Excelitas Technologies, which moved its headquarters from Massachusetts to Pittsburgh, and Adare Pharma, which relocated its headquarters to Northeast Philadelphia, are choosing Pennsylvania as their home for growth.

Across the Commonwealth, manufacturers like B. Braun in the Lehigh Valley and Joseph Machine Company in York County are expanding their facilities, creating hundreds of new jobs, and strengthening Pennsylvania's industrial backbone.

These efforts are driving new investments across the Commonwealth - from revitalizing Downtown Pittsburgh with $60 million in state capital that's leveraging $600 million in private investment, to strengthening the Commonwealth's main streets and small businesses that anchor local economies through the Main Streets Matters program.

Building the Energy Economy of the Future

Governor Shapiro reaffirmed his commitment to an "all-of-the-above" energy strategy that keeps costs low, supports Pennsylvania jobs, and ensures reliable power for businesses and families.

Under his leadership, Pennsylvania is producing more energy than ever before - including restarting operations at Three Mile Island and converting former coal-fired power plants into natural gas facilities that will generate an additional 5 gigawatts of power for the regional grid.

Governor Shapiro's Lightning Plan - supported by a bipartisan coalition of industry and environmental leaders - will create jobs, lower energy costs, speed up permitting, and expand energy generation right here in Pennsylvania.

Last month, the Governor convened the first-ever state-led PJM Governors Collaborative, bringing together representatives from 13 states to push for regional action to improve grid reliability, reduce costs, and accelerate clean energy deployment for 67 million customers.

Investing in Infrastructure, Innovation, and the Workforce

Through Governor Shapiro's 2024-25 bipartisan budget, the Shapiro Administration invested $500 million in site development, including $400 million for the PA SITES Program to make more locations shovel-ready for business investment.

To date, 18 projects have been awarded $74.6 million, helping communities across Pennsylvania compete for new job-creating opportunities.

The Governor's 2025-26 budget proposal builds on this momentum with major investments in innovation, workforce, and tax reform:

• $50 million for scientific and technological innovation - including $30 million for life sciences and $20 million for large-scale research and development.
• $10 million for the new AdvancePA Tax Credit to attract and retain high-quality jobs.
• $12.5 million for WEDnetPA to close workforce gaps.
• Accelerated Corporate Net Income Tax cuts to reach 4.99 percent by 2029, and streamlined and modernized tax credits to focus on high-impact growth industries.

Governor Shapiro's leadership is delivering results: faster government, stronger communities, and an economy built for the future. The Shapiro Administration continues to move quickly and efficiently to process permit applications, get businesses answers, and land major deals that benefit the people of 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.

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

• MEDIA CONTACT:
• Governor's Office, [email protected], 717.783.1116
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