Governor Rendell: Pennsylvania Attracts International Investment

[Penndems]

The Guv's weekly E-mail:

There are many solid reasons why businesses invest in Pennsylvania. From our supportive regulatory climate to our convenient location and our great quality of life, our state is a prime location for international firms to set up or expand their operations.

That's why I am leading a trade mission to Spain and the United Kingdom as part of my strategic and ongoing efforts to strengthen Pennsylvania's economy. We must act aggressively to ensure that international business leaders understand Pennsylvania's strengths as a location for investment. Increasing our share of trade in global markets will result in the creation of new jobs and new opportunities for our businesses to compete and expand.

Pennsylvania has the ninth-largest economy in the world and is home to approximately 5,860 foreign-owned companies. IBM Business Consulting Services - Plant Location International has ranked Pennsylvania as the number one destination for new projects and the top location for manufacturing projects in the United States and Canada. But we can't rest on our laurels. I believe there is a tremendous potential to further increase trade and investment relations between Pennsylvania and the European Union.

Our trade mission already has produced results: Integronomics, a Madrid-based company specializing in IT/software solutions for the life sciences sector, will establish a commercial office at the University Science Center Port of Technology in Philadelphia.

I will have more good news to announce after my visit to the U. K. early next week.

To continue and build upon our successes abroad, we created the $15 million World Trade PA program last year. This initiative will help to increase Pennsylvania's share of trade in global markets; attract new investment to secure jobs and capital; and leverage Pennsylvania's extensive network of overseas university graduates to promote new business opportunities for the state.

Find out for why Pennsylvania is a great place to invest and do business. For information on World Trade PA and other economic development programs, visit www.newPA.com or call 1-866-GoNewPA (1-866-466-3972).

Sincerely,


Edward G. Rendell

[Robson]

1. Its BS

If a business can't start up and make it on their own why should struggling taxpayers have to pony up?

The economic redevelopment dollars that are spread around to the connected elite like beer and corruption at a political caucus picnic go only to those that are connected.

[PhishWithLemon99]

2. you have no clue what youre talking about

When Pennsylvania is competing with Mexico, Asia, and right-to-work states for jobs, there have to be incentives to attract investment...it's a necessary evil because if we don't do it, someone else will...and doing business here isn't that cheap because of our workforce costs. Do you want jobs, or don't you? Carefully investing the $2 billion economic stimulus package enacted by the Governor in 2004 has resulted in a record number of jobs in PA and budget surpluses for the last 4 years.

Like it or not, there are incentives for everything. Why should I pay taxes to fund education, or subsidize people's student loans, or build highways, or job training programs, or insure your mortgage on your single-family home in the sprawling suburbs? If there weren't incentives to create jobs, I suspect you'd be bitching about why the government isn't doing anything to help the economy. You can't just slash taxes because we need a balanced budget, and the less businesses pay in taxes, the more individuals pay. Your ideological objections don't jive with reality.

The economic development dollars also aren't spread to the elite...theyre distributed through a nonpartisan Commonwealth Financing Authority based on standard grant applications.