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SEPTEMBER 2004
![]() ![]() Tied In (cover) Wanted: Quick Sites and Skills Erie Still Coming Back Churn High in Lehigh Almost There in Bethlehem Historic Period in Philadelphia? Downtown Scranton Project One of Many in Region for Aventis Pasteur Pittsburgh Takes Bio Route Request Information ![]() |
PENNSYLVANIA SPOTLIGHT
Wanted: Quick Sites and Skills
Just-in-time operations have come to
expect just-in-time land and facilities, and Pennsylvania is just one
state rushing to accommodate them. The New Day package includes $300
million in funding for the Business in Our Sites program, from which
communities may obtain the cash they need to develop sites. The $250-million
PennWorks program offers loans and grants to communities needing to
make water and sewer improvements connected to job-creating projects.
A recently issued plan from the state's Workforce Investment Board cites research showing that the industrial capabilities of the state's assets are outpacing the updated capabilities needed by its workers. Among the challenges is the fact that 41 percent of businesses surveyed in the state reported they can't find enough skilled workers, and that the state ranks 46th in percentage of work force with education beyond high school. To help this situation and to reverse the outflow of more than 171,000 manufacturing jobs since early 2001, Gov. Edward Rendell has made a manufacturing working group part of his economic development cabinet and earmarked $5 million for worker training in manufacturing. But one source of capital stands out in the government's toolbox: a bank. Citizens Bank of Pennsylvania announced the $100-million Citizens Job Bank, offering loans to expanding companies at the interest rate of 2.5 percent. Borrowers must create a minimum of one full-time job for every $25,000 borrowed. The Bank's goal is to create more than 4,000 jobs in Pennsylvania within three years, and it's waiving all fees traditionally tied to loan applications as an added incentive. |
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