Pennsylvania Leads Northeast with a Growing Economy under Shapiro's Rule

Pennsylvania is making waves in the Northeast as the only state with an economy on the upswing. This comes as a notable achievement highlighted by a new report from Axios.

The state recently made headlines for securing a position among the top 20 "Best States for Business" in the Northeast, according to Area Development. It was also ranked #9 for "Site Readiness Programs," underscoring its growing economic appeal.

Since Governor Josh Shapiro took office, Pennsylvania has benefited from strategic reforms that have cut bureaucracy and boosted investments, drawing over $25.6 billion in private capital and creating more than 12,500 jobs.

Economic Growth Under Governor Shapiro

Harrisburg, PA – Pennsylvania stands out in the Northeast as the sole state with a growing economy, as per a new report by Axios, utilizing Moody’s Analytics data. The study highlighted Pennsylvania as one of the 16 states nationwide where economic expansion persists despite broader challenges.

The state's recognition as a thriving economic hub is bolstered by its recent inclusion in the top 20 "Best States for Business" by Area Development. Pennsylvania was also distinguished for its effective "Site Readiness Programs," ranking in the top 10.

Strategic Initiatives and Investments

Governor Shapiro has spearheaded efforts to enhance Pennsylvania's competitiveness by launching the first economic development strategy in nearly 20 years. The initiatives have streamlined processes and attracted substantial private sector investments, including Amazon's historic $20 billion commitment to build AI and cloud computing campuses.

Moreover, the administration secured $500 million for various developmental programs, modernized government operations, and expanded funding for business expansion. These moves led Site Selection Magazine to name Pennsylvania the "#1 State in the Northeast for Regional Economic Competitiveness."

Reforming Government and Enhancing Business Environment

Under Shapiro's administration, Pennsylvania has undertaken significant reforms to boost business growth:

• Launched the Office of Transformation and Opportunity (OTO) to streamline business processes, aiding over 200 companies in 2024.
• Developed the PA Permit Fast Track Program for expedited project approvals, currently assisting seven major projects.
• Introduced PAyback, ensuring timely permit processing with minimal refunds issued.

Businesses such as Excelitas Technologies and Adare Pharma have chosen Pennsylvania for relocation due to its favorable business climate.

Investments in Infrastructure and Workforce

Through the bipartisan 2024–25 budget, Pennsylvania is allocating $500 million for site development, including $400 million for the PA SITES Program. To date, 29 projects have been awarded $113.6 million to enhance site readiness for business investments.

These investments are revitalizing local economies, from substantial funding in Downtown Pittsburgh to targeted support for small businesses through the Main Streets Matter program.

Driving Economic Opportunities

Governor Shapiro's leadership is yielding tangible results: streamlined governance, empowered communities, and a future-ready economy. The administration is committed to efficient permit processing, providing businesses with timely responses, and closing significant deals that advance Pennsylvania's growth.

Discover more about the Shapiro Administration's efforts to empower Pennsylvania's workforce and businesses in the Governor’s 2025-26 budget proposal at shapirobudget.pa.gov and learn how the administration is creating economic opportunity to build a stronger, more competitive economy for all Pennsylvanians.

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