What Really Drives Economic Development in Northeastern Pennsylvania?
“What can your region give me?”
One of the most common questions we hear while working in economic development – talk about a loaded question. While many times companies ask this question when looking at the cost benefits of our region, we realize the answer lies in many more facets. While Northeastern Pennsylvania boasts low costs and easy access to many markets, our region gives business owners so much more. While less expensive land prices, financial assistance and lower production costs are driving factors to the success of economic development in Northeastern Pennsylvania, we also recognize our strong workforce, impressive education system and superb quality of life as the strengths that will keep our region thriving for future generations .
Our region realizes how valuable our workforce is to the economic development of Northeastern Pennsylvania. In general, our
Northeastern Pennsylvania economic development agency focuses on helping businesses succeed as a way to strengthen our region. We realize most businesses achieve success through employees- those working every day making the organization the best it can be. Whether these employees work on an assembly line, work as supervisors, sales or upper level management, they all create the larger picture of an organization. While we know there are different needs and goals in every organization, we also know the many potential employees in Northeastern Pennsylvania work to help every business succeed. In NEPA, over half of our population makes our workforce-meaning there is a large, diverse pool of employees ready to work for all different types of jobs and positions. Our workforce is compiled of strong, dedicated workers who are consistently ranked as some of the best in the nation. In fact, we’ve learned that our workforce, both in availability and skill set, helped our region win several projects over the years. Because we know the strength lying in our workforce, our region prides itself on a future of ensuring our region’s success through workforce development.
Northeastern Pennsylvania’s economy can only thrive with a strong workforce, and that workforce can only gain strength through education. While we know a strong , dedicated work force is important to NEPA economic development, we also understand that this workforce needs skills and education to truly stand out from the rest. That’s why our region makes it easy for
education to flourish in our region. We believe much of a region’s success begins with an education system that prepares workers to excel in their positions. With over 15 colleges and universities in our five county region, it’s easy for students to find the best education for their career path no matter the training required. However, schooling is only a piece of the formula to educational success. Our region already encourages workforce training programs and profession- oriented education – which we believe can be achieved both in a classroom and with on the job training. As a region that realizes the importance of technological advancements, the education system in Northeastern Pennsylvania works at a fast pace to develop new and innovative teaching methods in several STEM fields and encourage research in highly competitive and innovative fields, including medical advancements, bioscience and telemedicine. We know our innovative and growing education system will help ensure economic development in Northeastern Pennsylvania for years to come.
Quality of Life
Many people don’t consider how a region’s quality of life can impact economic development, but Northeastern Pennsylvania notices. Because of this, Penn’s Northeast recognizes our region’s quality of life as another viable component to the success of our region. One of the most important things when determining the livability in an area is the amount of jobs available. The more jobs available, the more communities will be built, which will lead to even more jobs and growth in a region. In Northeastern Pennsylvania, our economic development agency works to bring more jobs to our region in order to bring more communities than those already established. Recently, researchers named Northeastern Pennsylvania as one of the best places to raise a family and one of the best places for homeowners, these two distinctions show just how great it already is to live in Northeastern Pennsylvania, and we believe it can only get better. We’ve already pointed out low operating costs make this region attractive to businesses, but those same low costs are also eye-catching for people looking to buy homes, settle in our region and maybe even raise their families. With attractions, cultural events and sporting events our region will keep even the most adventurous entertained and happy while living in NEPA. It’s pretty clear that a well educated and dedicated workforce is important for economic development, however in order to attract and retain that talent, you need to make a region an attractive place for people to live.
Most companies already know the cost benefits of operating a business in Northeastern Pennsylvania. Compare our region to other regions, for example the New York/Long Island area , and our costs are significantly lower- sometimes as much as 40% less. However, we know our region has many more benefits to bring more business into our region and help economic development in Northeastern Pennsylvania succeed. We’ve learned that most businesses choose to open in Northeastern Pennsylvania because our low cost operations, market opportunities and workforce are some of the most attractive things in Northeastern Pennsylvania. Our region also dedicates resources to maintaining its future and excelling even with a strong educational system and by bringing more jobs to the area. If you’re a site selector, broker or business owner looking for a site for a new project and don’t already know everything available in Northeastern Pennsylvania, please contact Penn’s Northeast today. Our staff is here to help you with research, site location and more.
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