Economic Recovery Dashboard

Competitiveness

For Pennsylvania to realize economic greatness, it must maximize its competitiveness. How do we compare to other states? What solutions do we need to boost our standing?  

A top priority is to make the Commonwealth more attractive to investment and job growth. Our action plan must focus on lower tax rates, a swift and fair justice system, and fewer regulatory hurdles. Once we succeed, Pennsylvania will establish its reputation as a hub of economic progress. And that will help ensure a better quality of life.

STATE GROSS DOMESTIC PRODUCT

Percent Change in State GDP

Numbers reflect Real Gross Domestic Dollars

Q2 2022 Data is preliminary from the Bureau of Economic Analysis

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National Business
Tax Ranking

PA Overall Rank

  • 1 Wyoming
  • 27th Pennsylvania
  • 50 New Jersey

Pennsylvania has remained stagnant in its annual business tax climate ranking over the past several years.    

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National Corporate
Tax Rate Ranking

At 9.99 percent, Pennsylvania’s uncompetitive Corporate Net Income Tax rate is one of the highest in the nation and a major red flag for potential investment.

* The 2022-23 state budget implements a phased-in reduction to the Corporate Net Income Tax rate over the course of nine years - starting with a full one percent reduction in 2023 to 8.99 percent and then phasing down each year by .50 percent until reaching 4.99 percent in 2031.

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