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Department of Community and Economic Development Secretary Rick Siger announced the approval of nearly $3 million in loans through PIDA to help boost business growth and create and retain jobs in Dauphin, Lehigh, and Northampton counties. PHOTO/PACAST
Where does Pa. rank in business climate?
Listen to this articlePennsylvania is No. 11 nationally in best business climate in the country and the top business climate in the Northeast, according to new rankings from Site Selection Magazine.
The commonwealth’s ranking is seven spots higher than in Site Selection’s 2024 list. Pennsylvania is the only state in the Northeast to make the list.
“This new ranking from Site Selection Magazine underscores that our 10-year economic development strategy is producing real results and new opportunity for Pennsylvanians,” DCED Secretary Rick Siger said in a statement. “Under Governor Shapiro‘s leadership we are competing again by investing in our economy, strengthening communities, and making government more efficient, and we will continue to find new ways to make Pennsylvania the best state in the nation for businesses to grow.”
According to a release, Site Selection Magazine’s rankings factors in tax climate, job growth, and number of fast-growing companies that operate in each state when calculating its business climate rankings. Pennsylvania earned the No. 8 spot for most Inc. 5000 companies, the fastest-growing private companies in America.
The ranking by Site Selection Magazine follows analysis from Moody’s Analytics Chief Economist Mark Zandi confirms that Pennsylvania is the only state in the Northeast with a growing economy, continuing a trend of economic leadership. That report found that Pennsylvania is among just 16 states nationwide where the economy continues to expand.
Pennsylvania was ranked by Area Development among the Top 20 Best States for Business, and was listed No. 9 for “Site Readiness Programs.”
