Pennsylvania needs investment to grow its economy

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Pennsylvania is one of the top states in the nation in receiving research funding, but 48th Convert those funds into new business.

“Per capita, the Dakotas are outpacing us,” Jen Gilberg, deputy secretary of technology and entrepreneurship for the state Department of Community and Economic Development, told Lancaster Chamber of Commerce members Thursday morning.

“The only ones that haven’t beaten us are West Virginia and Arkansas,” she quipped.

To do a better job, Gillberg suggested that higher education institutions need to move from publishing papers to founding companies.

“We need leaders who take ideas and raise capital to build great companies,” she said.

Gillberg said it’s been 20 years since the state developed a formal economic development plan, and told the group of about 60 local business owners and community leaders that the economic numbers are “overwhelming.” Told.

“We need to do better,” she said.

Gillberg, who works for DCED Secretary Rick Siger, said the goals of the Pennsylvania Economic Development Strategy are to invest in economic growth, innovate to win, and make government work at the speed of business to unlock more opportunity. He said that it is to open.

“For us to grow, we have to invest,” she said, adding that industries such as life sciences, renewable energy and AI need the country’s focus to attract and retain young workers. He added that there is.

Gillberg said Chief Transformation and Opportunity Officer Ben Kirshner has already reduced the time it takes to obtain new business permits from seven weeks to about three days to support growth in sectors identified by the Shapiro administration. said.

“And he’s working to get it done one day,” she said. “He is committed to making things run smoother and working at the speed of business.”

Like Lancaster County, Gillberg said the state’s 10-year economic plan identifies five areas as real opportunities for growth. They are agriculture, energy, life sciences, manufacturing, robotics and technology.

“Governor Josh Shapiro proposed $600 million in new investments in his budget,” she said. “These are important investments.”

Investments include education upgrades and 500 million brownfield facilities across the state.

EDC Lancaster County Director Ezra Rothman said he was excited about the governor’s new plan, adding that Lancaster County has very little available industrial land, much of which has “significant” problems. Stated.

Companies looking to grow or locate in the region face increased costs when faced with contaminated land, he said.

“Lancaster County experienced 36.4% economic growth in 2022,” he said, noting that manufacturing, professional and business services, and health and social assistance had the highest growth.

Rothman said health care and social assistance employed the most people in the county in 2022 at 17.3%, but manufacturing was a close second at 16.7% and is growing.

With that growth comes the need for land, he said. Lancaster County is 70% agricultural and 3% industrial, so repairs are needed to prepare the site to continue attracting businesses.

According to him, manufacturing GDP will account for 17% in 2022, and medical and social assistance will account for 9.9%.

In addition to land needs, Rothman said the county needs to attract and retain younger workers as the population ages, especially in the manufacturing sector.

“The proportion of Lancaster’s population aged 55 and over increased by 9.7% from 2000 to 2020,” he said.

In fact, 26% of full-time workers are aged 55 and older.

“A lot of the experience is going to be stale, especially in manufacturing,” he says. “For us to grow, we need new tech jobs that will make people want to come here.”