Statement from Matt Smith, President, Greater Pittsburgh Chamber of Commerce, an affiliate of the Allegheny Conference, on Governor Wolf’s Ceremonial Signing of the Corporate[...]

Statement from Matt Smith, President, Greater Pittsburgh Chamber of Commerce, an affiliate of the Allegheny Conference, on Governor Wolf's Ceremonial Signing of the Corporate Net Income Tax Reduction Bill

(PITTSBURGH - November 15, 2022) - "The Greater Pittsburgh Chamber of Commerce, an affiliate of the Allegheny Conference on Community Development, congratulates Governor Wolf on today's ceremonial signing of the Corporate Net Income (CNI) tax reduction legislation, Act 53 of 2022. We value the bipartisan efforts by the Pennsylvania state legislature and partnership of Governor Wolf that made this possible, and we applaud the clear message Act 53 sends - Pennsylvania is open for business.

"We are excited to take a critical first step toward ensuring a vibrant economic future and quality of life for businesses and residents across the Commonwealth. Pennsylvania's high CNI tax rate has been a "blinking red light" for decades, and with Act 53, Pennsylvania is signaling to entrepreneurs and corporations across the globe that we are serious about future economic development opportunities, and we welcome new and expanding business with open arms.

"Act 53 is the beginning of our journey to compete aggressively for business investment. We thank Governor Wolf for his commitment to the Commonwealth throughout his eight-year term as governor and look forward to building on this success with Governor-elect Shapiro, and the newly and re-elected members of the state legislature, to elevate Pennsylvania to the next level of competitiveness. We are excited to collaborate with the new administration on key economic development initiatives aimed at increasing our ability to compete for jobs, talent and investment, from structural enhancements to permitting processes to maximizing our region's rapid growth sectors, including autonomy and robotics, life sciences, energy and advanced manufacturing, and more. Together, we can close the gap with growing competitor states and create a brighter future for our region."

Media contact: Phil Cynar, Allegheny Conference, 412-281-4783, ext. 4573, [email protected]