PA Chamber urges action to boost business investment

Listen to this article

• Over $30 billion in new private investment announced in PA

• PA Chamber CEO calls for policies to boost economic growth

• Keystone Initiative outlines tax, permitting, energy, and workforce goals

With $30B in new private investment, the Pennsylvania Chamber of Business and Industry is calling for tax reform, permitting improvements, and workforce development to grow the commonwealth’s economy. 

Serving as the Pennsylvania Press Club’s June keynote speaker, PA Chamber president and CEO Luke Bernstein said that as more than $30 billion in new private-sector investment is coming into Pennsylvania, including major new data center and innovation projects, state lawmakers must enact policies to improve economic competitiveness. 

“These are the kinds of projects that can change the trajectory of entire communities,” Bernstein said. “The single most important thing we can do to set our state up for long-term success is to create an environment that attracts business investment.” 

Bernstein cited recent announcements of a $10 billion redevelopment project in Homer City and Amazon’s $20 billion data center investment as proof that bipartisan, pro-growth policy changes in Harrisburg are paying off. 

“We’ve started to make progress,” said Bernstein. “We’re gradually lowering our corporate tax rate. We’ve improved the treatment of net operating losses. We’re making strides on permitting and workforce development. We’ve only just started to turn the dial up a little bit on our competitiveness, and already the response from private industry has been enormous. 

“We have to keep our foot on the gas. While other states are rolling out the red carpet, companies look at Pennsylvania and see us rolling out the red tape,” added Bernstein. 

Bernstein’s address focused on the PA Chamber’s recent Keystone Initiative, a long-term strategy to make Pennsylvania the most competitive state in the country for business. Bernstein noted four key areas for continued focus: 

• Tax Reform – Continue the phase-down of the Corporate Net Income Tax, raise the deduction cap on Net Operating Losses, and eliminate disincentives for investment. 

• Permitting – Build on recent bipartisan momentum and make fast, predictable permitting the statewide norm, not the exception. 

• Energy Leadership – Use Pennsylvania’s unmatched natural gas reserves to power 21st-century industry, from AI to cloud computing.  

• Workforce Development – Expand access to talent pipelines and training, addressing the mismatch between job openings and available skilled workers. 

Bernstein spoke of Pennsylvania’s decline in population over the past century. 

“We have lost businesses and people because other states have made it easier to invest, build, and grow there, while we have failed to do the same,” he said. 

Bernstein called on Pennsylvania to build a future that keeps workers, families, and entrepreneurs in the commonwealth. 

“The future will arrive no matter what,” he said. “But a future we believe in — a future worth fighting for — is ours to build. If we choose to compete.”