Thursday, November 02, 2006

Pennsylvania

From today's Pittsburgh Tribune-Review:

The state is about to enact an incentive package that officials hope will provide the tax breaks needed to put Western Pennsylvania over the top in its bid to convince Westinghouse Electric Co. to select the area for a major expansion.

Legislation awaiting Gov. Ed Rendell's signature would create a maximum of four Strategic Development Areas offering tax breaks and incentives in four key geographic areas of the state targeted for economic development projects that would create or maintain a minimum of 500 jobs and involve capital investment of at least $45 million. . .

"With the acquisition of Westinghouse by Toshiba earlier this year, many other states across the country are trying to lure this expansion away from Pennsylvania," said state Rep. Joseph Markosek, D-Monroeville, one of the backers.

"We needed to offer a competitive economic development package so that the company will stay in our region and expand its operations here."

What does that say about your state's economic policies when you need to offer a discretionary package in order for a business to stay in a location?

No indication of skepticism towards the plan is given in the article.

0 Comments:

Post a Comment

<< Home