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Today's competitive, global marketplace offers tremendous opportunities – and challenges – to businesses. These opportunities can be significantly enhanced by factors as simple as the right location and a business-friendly partner.
Great companies are built in Pennsylvania – including international ones. Domestic and foreign companies alike have reaped the benefits of Pennsylvania's integration into the global economy. A leader in cross-border projects, with the largest network of overseas offices of any US state, Pennsylvania is committed to breaking down the barriers to entry for businesses looking to locate in the state. Not only is Pennsylvania home to almost 6,000-foreign owned businesses employing nearly 250,000 people, we are also one of the nation's fastest growing exporters. Major international companies including Shire Pharmaceuticals, Gamesa, Sanofi-Aventis, Almac, Carel, Pharmaxis and others have all found a place in Pennsylvania's vibrant business community.
Our advanced infrastructure, educated and reliable workforce, wide-ranging initiatives, and critical mass of academic and research institutions make Pennsylvania not only a desirable business location, but also the State of Innovation.
For additional information, go to www.newPA.com.
Why Invest in Pennsylvania
World Class Economy and Prime Location
Pennsylvania's ideal location gives global companies access to many North American markets – especially the U.S. East Coast and the Midwest. Four of the top 10 logistics metros in the U.S. Northeast are located in Pennsylvania.
Six out of 10 major U.S. market areas lie within a 500-mile radius of Pennsylvania's capital. Within this radius lies access to vital markets that encompass:
- 40% of the U.S. population and purchasing power
- More than 60% of Canada's population
- 45% of U.S. manufacturers
- 41% of the nation's domestic trade and service industries
Transportation and Infrastructure
Pennsylvania offers every means to move your products, making it easy and convenient to reach your customers and markets. Pennsylvania's comprehensive transportation network includes:
3 Major Ports
- Access to the Atlantic via the Port of Philadelphia and the Great Lakes via the Port of Erie
- Port of Pittsburgh is the 2nd largest inland port in the U.S., with access to the Gulf of Mexico and Atlantic, as well as the Pacific through the Panama Canal
Modern Freight Railroad System
- Pennsylvania leads the U.S. with 69 operating railroads and ranks 5th in the nation in total track mileage at 5,145 miles
- Pennsylvania rail freight employment ranks 7th in the nation with 6,856 jobs and ranks 8th in the wage rates paid for these jobs
- 3 Class 1 railroads serve the Port of Philadelphia
- 6 international airports and 16 scheduled service airports, boarding over 24 million passengers annually and moving nearly 800,000 metric tons of cargo
Extensive Highway System
- Pennsylvania has over 120,000 miles of highways and invests nearly $3.5 billion annually on road and bridge construction and maintenance
We have a high-quality, educated workforce of over 6 million, and a total population of over 12 million. Pennsylvania knows a quality workforce is a critical component of business competitiveness. Those companies with a presence in Pennsylvania acknowledge our workforce as one of the best.
- 86% of Pennsylvania adults have earned at least a high school degree and more than 26% have a Bachelor's Degree or higher.
- Extensive, customized job training programs and grants are available to businesses
Pennsylvania also recognizes the key to a quality workforce is a quality education. Each year, our world-class colleges and universities attract over 100,000 students from across the United States and around the world. Pennsylvania is home to:
- 4 of the nation's top 50 universities – University of Pennsylvania, Carnegie Mellon University, Lehigh University, and Pennsylvania State University
- 8 of the top 50 liberal arts colleges; 3 of the top business schools and two of the top 50 law schools
- The Wharton School is one of the nation's top undergraduate and graduate business schools
- One of the nation's top graduate computer engineering schools – Carnegie Mellon University
- The world's best Materials Science Program, which is located at Pennsylvania State University
Special Economic Zones
- Pennsylvania provides 6 approved general-purpose foreign trade zones. Individual manufacturers also hold sub zones, which are special-purpose zones, usually located at manufacturing facilities. Product and materials stored, manufactured, repackaged, or exhibited in a U.S. Customs Bonded Warehouse qualify for a lower duty or, upon re-export, the duty can be eliminated.
- Keystone Opportunity Zones (KOZs) represent one of the boldest, most forward-thinking economic development programs in the United States. Through credits, waivers, and comprehensive deductions, state and local taxes on economic activities in KOZs are reduced to almost zero. These tax abatements remain in effect through 2013, and in some zones, until 2018.
For more information about Pennsylvania please visit www.newPA.com.
State Governor: Governor Tom Corbett