PA WORKS Creating jobs and investing to move Pennsylvania forward

Transcription

1 PA WORKS Creating jobs and investing to move Pennsylvania forward

2 PENNSYLVANIA S JOB CRISIS THE PROBLEM May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Unemployment rate from U.S. Department of Labor Pennsylvania: 7.5 percent in Oct Nationally: 7.3 percent in Oct PA ranks 46th in the nation for year-to-date employment growth PA has lowest employment growth percentage of all neighboring states

3 PA WORKS SPOTLIGHT THE SENATE DEMOCRATIC STRATEGY Fund new business opportunities Invest in state infrastructure Enhance relevant job training Provide assistance to veterans Focus on vulnerable populations

4 FUND BUSINESS INVESTMENTS THE GOAL Create a fund dedicated to key investment programs Expand business opportunity by expanding tax credit incentives Generate industry investments by encouraging financial institutions to be more aggressive lenders Provide regulatory relief to promote business expansion

5 FUND BUSINESS INVESTMENTS THE PLAN Senate Bill 200 (Costa) Would create annual $80 million PA Works fund using revenue from Capital Stock and Franchise Tax Senate Bill 205 (Fontana) Would give banks/lenders incentives to loan dollars to small businesses Senate Bill 216 (Blake) Would fund PA s Statewide Housing Trust Fund to increase number of affordable homes

6 INVEST IN INFRASTRUCTURE THE GOAL Establish infrastructure investment bank to support future needs Provide comprehensive transportation funding for PA s roads, bridges, mass transit, etc. Create infrastructure tax credit program to leverage investment for transportation and water & sewer improvements

7 INVEST IN INFRASTRUCTURE THE PLAN Senate Bill 201 (Hughes) Would authorize issuance of $1 billion of bonds over 5 years Senate Bill 236 (Hughes) Would establish PA Investment Bank Fund to invest in new programs Senate Bill 224 (Fontana) Would add $25 million to successful Business in Our Sites program

8 INVEST IN INFRASTRUCTURE THE PLAN Senate Bill 1033 (Schwank) Would allow up to 15 cities to redevelop zones with City Revitalization Program Expand H20 PA (Schwank) Would increase debt ceiling for Commonwealth Financing Authority Authorize New PENNVEST Funding (Yudichak) Would allow voters to authorize $500 million in borrowing to fund clean water projects

9 INCREASE JOB TRAINING THE GOAL Coordinate job training programs to create an integrated one-stop system of workforce investment and education services Enhance training process so workers are prepared for emerging industries Tailor workforce training to employers needs

10 INCREASE JOB TRAINING THE PLAN Senate Bill 223 (Tartaglione) Would create employer-driven Train-To-Work PA program Senate Bill 230 (Boscola) Would offer tax credits for businesses for hiring qualified student interns Senate Bill 208 (Kitchen) Would create a Summer Youth Employment Program at state/local facilities Industry certificates (Dinniman) Would allow vocational students to earn industry certifications in accelerated programs to save them time and money

11 PROVIDE ASSISTANCE TO VETERANS THE GOAL Reduce the unemployment rate of veterans so it is at least as low as the unemployment rate of civilians Incentivize the hiring of veterans Provide specific training to help veterans succeed in civilian careers after their military service

12 PROVIDE ASSISTANCE TO VETERANS THE PLAN Senate Bill 203 (Kasunic) Would help veterans develop skills to manage and operate a small business Senate Bill 215 (Kasunic) Would establish Veteran-owed Business Loan Guarantee Program Senate Bill 231 (Williams) Would create tax credit for businesses that hire veterans Senate Bill 452 (Smith) Would make it easier for military spouses to transfer professional licenses to PA Increase veteran contracting (Solobay) Would increase the statewide goal for veteran contracting form 3 to 10 percent

13 FOCUS ON VULNERABLE POPULATIONS THE GOAL Provide resources for minority women and families Improve opportunities for the economically disadvantaged Offer childcare incentives to reduce financial burden on families

14 FOCUS ON VULNERABLE POPULATIONS THE PLAN Senate Bill 228 (Washington) Would improve opportunities for women and minority-owned companies Senate Bill 219 (Schwank) Would provide small business tax credit to help pay for employees children Senate Bill 858 (Tartaglione) Would increase the PA minimum wage to $9 per hour by 2015

15 PA WORKS INVEST IN PENNSYLVANIA Senate Democratic plan will: Invest in Pennsylvania s small businesses Develop and rebuild infrastructure Prepare workers for in-demand jobs Train veterans for fulfilling civilian careers Ease the financial burden on minority women and families Will create an estimated 80,000 jobs annually Will leverage more than $2 billion of private sector investment