PENNSYLVANIA QUICK FACTS
1. World Class Economy
2. Location / Access to Markets 3. Transportation / Infrastructure 4. Workforce
5. Research & Development Center
1. WORLD-CLASS ECONOMY
Fact: Pennsylvania stands as an important player in the world economy.
United States: $14.53 trillion gross domestic product – World’s largest economy
Indonesia: $706 billion – 18th largest economy Pennsylvania: $569.68 billion – 19th largest economy Switzerland: $528 billion – 20th largest economy
Pennsylvania ranks 1st in the U.S. for biotechnology strength and 3rd in medical equipment and supplies manufacturing. It also ranks 1st in private sector life sciences facilities and 3rd in life sciences by investment of dollars and jobs.
2. LOCATION / ACCESS TO MARKETS
Fact: Pennsylvania offers access to vital markets.
Pennsylvania’s ideal location gives global companies access to many North American mar-kets – especially the U.S. East Coast and the Midwest. Four of the top 10 logistics metros in the U.S. Northeast are located in Pennsylvania.
Six out of 10 major U.S. market areas lie within a 500-mile radius of Pennsylvania’s capital. Within this radius lies access to vital markets that encompass:
3. TRANSPORTATION / INFRASTRUCTURE
Fact: Pennsylvania offers every means to move your products.
Reaching customers and markets is easy and convenient. Pennsylvania’s comprehensive transportation network includes:
3 Major Ports
o Access to the Atlantic via the Port of Philadelphia
o Access to the Great Lakes and the Atlantic Ocean via the Port of Erie. o Port of Pittsburgh is the 2nd largest inland port in the U.S., with access to the
Gulf of Mexico and Atlantic, as well as the Pacific through the Panama Canal Modern Freight Railroad System
o Pennsylvania leads the U.S. with more than 65 operating railroads and ranks 5th in the nation in total track mileage at approximately 5,600 miles
o Pennsylvania rail freight employment ranks 8th in the nation with 6,490 jobs o 3 Class 1 railroads serve the Port of Philadelphia
Airports
o 6 international airports and 15 scheduled service airports, boarding over 20 million passengers and moving nearly 1.2 million metric tons of cargo annual-ly
Extensive Highway System
o Pennsylvania has over 120,000 miles of highways and invests nearly $3.2 bil-lion annually on road and bridge construction and maintenance
Pennsylvania provides 7 approved general-purpose foreign trade zones. Individual manufac-turers also hold sub zones, which are special-purpose zones, usually located at manufactur-ing facilities. Product and materials stored, manufactured, repackaged, or exhibited in a U.S. Customs Bonded Warehouse qualify for a lower duty or, upon re-export, the duty can be eliminated.
4. WORKFORCE
Fact: Pennsylvania boasts a high-quality, educated workforce.
Pennsylvania’s workforce: over 6 million Total population: over 12 million
Pennsylvania recognizes a quality workforce is a critical component of business competi-tiveness. Those companies with a presence in Pennsylvania acknowledge our workforce as
one of the best.
87% of Pennsylvania adults have earned at least a high school degree and more than 26% have a Bachelor’s Degree or higher.
Extensive, customized job training programs and grants are available to businesses
Pennsylvania also recognizes the key to a quality workforce is a quality education. Each
year, our world-class colleges and universities attract over 100,000 students from across the United States and around the world. Pennsylvania is home to:
4 of the nation’s top 50 universities – University of Pennsylvania, Carnegie Mellon University, Lehigh University and Pennsylvania State University
8 of the top 50 liberal arts colleges; 3 of the top business schools and 1 of the top 50 law schools
One of the nation’s top undergraduate and graduate business schools – Wharton School
One of the nation’s top graduate computer engineering schools – Carnegie Mellon University
One of the nation’s top biomedical / bioengineering universities – University of Penn-sylvania
5. RESEARCH & DEVELOPMENT CENTER Fact: Pennsylvania ranks 3rd in R&D spending.
Pennsylvania industries invest more than $9.8 billion annually in R&D Pennsylvania academics invest more than $2.4 billion annually in R&D. The University of Pennsylvania ranks 2nd
in the top medical research universities Pennsylvania supports businesses’ R&D efforts with the $55 million R&D Tax Credit program, which provides a tax credit of up to 20% for qualifying employers’ increased research and development expenses over a base period.
INTERNATIONAL BUSINESS DEVELOPMENT
Great companies are built in Pennsylvania – including international ones. Not only is Penn-sylvania home to over 6,600 foreign-owned businesses employing more than 255,000 people, we are also one of the nation’s fastest growing exporters.
Domestic and foreign companies alike have reaped the benefits of Pennsylvania’s integration into the global economy. A leader in cross-border projects, with the largest network of over-seas offices of any U.S. state, Pennsylvania is committed to helping businesses succeed.
Foreign Direct Investment
Are you located outside of the U.S. and interested in establishing a U.S. presence?
Pennsylvania’s international foreign direct investment representatives can assist you in lo-cating investment opportunities, such as:
establishment of a new facility
joint ventures
licensing opportunities
We as Representative for Germany, Austria and Switzerland are committed to eliminating the barriers that foreign companies might encounter in investing, expanding and operating a business in Pennsylvania.
Visit our website www.newpa.de or contact us directly for further information. All services are of course free of charge for interested companies.
Contact data
Stefan Peikert
Director Investment Germany Austria & Switzerland Commonwealth of Pennsylvania
Office of International Business Development
Department of Community & Economic Development
Authorized Trade & Investment Representative
AHP Group Berlin - Münster - Heidelberg – Leipzig - Munich Berlin +49 (0)30 7568754-12 Münster +49 (0)251 530399-11 Mobile +49 (0)171 3032576 Fax +49 (0)30 7568754-44 [email protected] www.newpa.de / www.newpa.com .
