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Dear <<First Name>>,
We were pleased to see a recent report from the Tax Foundation that ranks states according to their overall business tax climate. While there is much more work to be done, Pennsylvania improved its ranking from 28th to 24th, tying the Commonwealth with Hawaii for the largest leap in the rankings from last year to this year. The non-partisan Tax Foundation credited the improvement to the elimination of the Capital Stock and Franchise Tax at the end of last year.
As you may recall, the Allegheny Conference and our Greater Pittsburgh Chamber of Commerce affiliate had worked with numerous partners across the Commonwealth for more than 15-years to eliminate this tax. The reason was simple – very few states tax both the net income and the assets of employers. It was a job-killing tax that discouraged employers from expanding and investing here. The Tax Foundation report demonstrates the significance of the phase out.
We applaud the bipartisan work of Governor Wolf and legislative leadership on both sides of the aisle to accomplish this key policy objective.
Of course, a little bit above average is helpful, but it’s not where Pennsylvania needs to be. Through our research and analysis arm, the Pennsylvania Economy League of Greater Pittsburgh, ongoing advocacy by the Chamber and our participation in the CompetePA Coalition we are continuing to identify business taxes that reduce competitiveness. Topping the list right now are the Corporate Net Income Tax rate, the second-highest in the country, and the cap on the Net Operating Loss Carryforward, which affects both cyclical and startup businesses. We will continue to make the case in Harrisburg for tax policy that rewards investment and job creation and spurs innovation.
Connecting People to Opportunity – Dealing with Economic Disparity
In recent years the Allegheny Conference has been digging deeper into the structural issues that have produced economic disparity in our region, especially involving the African American community. Last week, the Economy League organized a special topic briefing on the issue to bring together Regional Investors and key partners to discuss how the Conference might have a greater impact in fostering equitable development in our region.
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We heard an overview of the region’s challenges from Dr. John Wallace of the University of Pittsburgh, and several initiatives underway to address them from Mark Peterson of Bridgeway Capital, Pittsburgh Chief Urban Affairs Officer Valerie McDonald-Roberts, and Walter Lewis of the Homewood Children’s Village.
The Conference is already working on these issues through the Strengthening Communities Partnership that seeks to focus private sector resources to build capacity in seven targeted communities, the Regional Transportation Alliance that is developing a vision for regional systems and infrastructure to better connect people to opportunity, and, of course with our workforce strategy, which is seeking to advance the recommendations of the Inflection Point report to elevate un- and under-employed people in the region.
Quick Train for Jobs
If you need skilled people and can’t find them, why not train them? To help, the Three Rivers Workforce Investment Board (TRWIB) is offering an incentive with Quick Train for Jobs, a new program that provides funding to support business training programs that prepare and place currently unemployed workers in career employment at a wage of at least $14.28 per hour.
The TRWIB takes applications on a quarterly basis from employers that would like to participate in the program. You can find out more here.
Celebrate Regional Leadership & Innovation
With Uber’s recent rollout of autonomous vehicle testing here and the White House Frontiers Conference taking place this week at Carnegie Mellon University and the University of Pittsburgh, recognition of our region’s innovation engine continues to hum steadily. The Carnegie Sciences Awards, now in its 21st year, celebrates outstanding science and technology achievements in western Pennsylvania. Help celebrate leadership and innovation in our region by nominating an individual or organization who has made a significant contribution in the fields of science, technology, and education have impacted our region's industrial, academic, and environmental vitality. You can find more information and the nomination form for a 2017 Carnegie Science Award here.
Annual Meeting around the Corner
I hope to see you next month at the Annual Meeting of the Allegheny Conference at 6:00 p.m. on Wednesday, November 9, 2016 at the Carnegie Music Hall in Oakland. Yes, it’s the day after Election Day, so there should be plenty to talk about. We’ll review our results in 2016 and, more important, talk about what still needs to get done to achieve the goals we set in our 2015-2017 agenda for Economy & Community, Infrastructure and Workforce. If you missed the invitation, you can RSVP right here.
A Strategy for Shale Gas & Manufacturing
The shale gas revolution is about more than just taking it out of the ground. It’s about using the gas and the associated natural gas liquids to drive petrochemical and advanced manufacturing in the region. The Shell cracker is just the start. Please join us on Oct. 21 as David Ruppersberger, president of the Pittsburgh Regional Alliance, an affiliate of the Allegheny Conference, describes how they are working to maximize this opportunity. He will be joined by Ken Zapinski, senior vice president for energy and infrastructure for the Allegheny Conference, who will outline how Pennsylvania is working together with Ohio and West Virginia to help the tristate region compete globally. Please RSVP here if you are interested.
As always, thanks for your support of the Allegheny Conference and your commitment to our region.
Sincerely,
Dennis Yablonsky
CEO, Allegheny Conference on Community Development
P.S. Don’t miss Our Region’s Business on WPXI-TV Sundays at 11:00 a.m. The program airing this Sunday, October 15 features Carrie Coghill, president and CEO of Coghill Investment Strategies, who discusses “2020 Women on Boards” and the local efforts underway to achieve a milestone when it comes to putting women on corporate boards of directors. Lora Dikun, senior vice president of human resources at Giant Eagle, and Patricia Cluss, director of Standing Firm: The Business Case to End Partner Violence, sit down to make the case for employers to get involved in ending partner violence. And Nick Lawson, founder of the start-up SQWAD Sports, joins the program to explain how his company is shaking up the world of fantasy sports.
Hosted by our own Bill Flanagan, the 30-minute regional business affairs program is co-produced with WPXI-TV. The program is rebroadcast on PCNC-TV at 3:30 p.m. and 7:30 p.m. Sundays, and at 3:30 p.m. Mondays.
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