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Economic growth

Pennsylvania Continues to Lead the Northeast in Economic Growth

Strategic Insights

— 2 min read

Under the leadership of Governor Josh Shapiro, Pennsylvania remains the only state in the Northeast with an economy that's growing. Since taking office, Governor Shapiro has implemented transformative changes to permitting and licensing, cut red tape, and made strategic investments to attract nearly $26 billion in private sector investment, create over 13,200 good-paying jobs, and expand opportunity across the Commonwealth.

Key Takeaways:

  • Pennsylvania is the only state in the Northeast with a growing economy, according to analysis from Moody's Analytics, confirming the state's economic leadership under Governor Josh Shapiro's leadership.
  • Since taking office, Governor Shapiro has made Pennsylvania more competitive by 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, including Eos Energy Enterprises' $352.9 million investment to relocate its headquarters from New Jersey to Pittsburgh, creating and retaining 1,000 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.
  • The Commonwealth is investing $9.5 million through the Redevelopment Assistance Capital Program (RACP) to support the Market House in Erie, 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.
  • Area Development ranked Pennsylvania among the Top 20 Best States for Business, citing its #1 ranking in Regional Economic Competitiveness by Site Selection Magazine.
  • Governor Shapiro's focus on competitiveness and results is delivering real growth and opportunity for Pennsylvania, with the state being the only Northeastern state to make the Top 20 list.

Statistics:

  • Pennsylvania has attracted nearly $26 billion in private sector investment since Governor Shapiro took office.
  • Over 13,200 good-paying jobs have been created across the Commonwealth since Governor Shapiro took office.
  • The Commonwealth has invested $113.6 million in the PA SITES program to prepare 29 shovel-ready sites for business growth statewide.
  • Area Development ranked Pennsylvania among the Top 20 Best States for Business, with the state being the only Northeastern state to make the list.
  • 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.

Sources:

  • Pennsylvania Department of Community and Economic Development
  • Moody's Analytics
  • Governor Josh Shapiro's 2025-26 budget proposal
  • Area Development
  • Site Selection Magazine

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