Business Facilities - March 2009 - (Page 30)

BUSINESS REPORT Pennsylvania “Even in this national economy, it is vital to protect the $1.6 billion in business tax cuts that we have enacted since 2003,” says Governor Rendell. The spending plan includes $60 million to reinvigorate the Business in Our Sites Program (BOS) so more shovelready sites can be developed across the state that attract new businesses. BOS funds can be utilized for land acquisition, environmental assessment and remediation, demolition, installation of infrastructure, both on-site and as needed to bring service to the site, and access roads or other necessary on-site and off-site transportation improvements. Forty million dollars have been proposed for water and wastewater infrastructure projects related to economic development, with an additional $10 million to build upon the Infrastructure Facilities Improvement Wyomissing Square Grant Program (IFIP). IFIP provides multi-year grants to certain issuers of debt in order to assist with the payment of debt service. The program provides financing for hospitals, convention centers, hotels associated with convention centers, manufacturers, and retail establishments (if those establishments will create at least 200 full-time jobs and occupy more than 200,000 square feet). Every $1 million of funding for this program creates approximately 2,000 new jobs. GROWING PENNSYLVANIA’S GREEN MANUFACTURING In January 2009, the state announced new investments in innovative energy and bio-fuels projects that will help the Keystone State continue to develop clean energy resources and grow its green energy manufacturing industry. The grants, which include $7.2 million through the Energy Harvest program and $6.5 million through the Alternative Fuels Incentive Grant (AFIG) program, will support projects in at least 25 counties, leverage more than $53.1 million in private investments, and create at least 77 jobs. AFIG grants are available to companies that produce homegrown alternative fuels and biofuels, related infrastructure, as well as assisting consumers that purchase hybrid vehicles. Since the program was expanded in 2004, it has awarded almost $24.3 million to 78 projects and leveraged $173.3 million in investment commitments by public and private fleet Pennsylvania: Then and Now Then Employment Unemployment Exports Venture Capital Investments Venture Capital Deals Personal Income (Per Capita) PA Gross State Product) (GSP/GDP) 5,625,700 (January 2003) 5.7% (January 2003) $15.77 Billion (2002) $455 Million (2002) 88 (2002) $31,023 (2002) $423 Billion (2002) Now 5,732,100 (Dec. 2008) 6.7% (Dec. 2008) $34.45 Billion (2008) $693 Million (2008) 171 (2008) $38,740 (2007) $531 Billion (2007) Change 106,400 -1.00 $18.7B $238B 83 $7,117 $87B % 1.89% -17.54% 118.00% 52.30% 93.00% 25.00% 20.56% SOURCE: PA DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT 30 MARCH 2009 PHOTO CREDIT: DESIGN COLLECTIVE, INC.

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Business Facilities - March 2009 Contents First Word Snapshots Corporate Moves: Tennessee Deciphering High-Tech Hubs Industry Focus: Biotech/Pharmaceuticals The Lone Star State Continues to Burn Brightly Pennsylvania is Holding Its Own Corporate Moves: Florida Metro Spotlight: Findlay, OH Advertiser Index Ask the Expert

Business Facilities - March 2009

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