$29.4B state budget highlights business initiatives

By - Last modified: February 5, 2014 at 10:28 AM

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Pa. Gov. Tom Corbett
Pa. Gov. Tom Corbett

Pennsylvania Gov. Tom Corbett has unveiled his $29.4 billion state budget that is 3.3 percent, or $387 million, more than last year's budget. The 2014-15 plan increases spending by $925 million and does not have any tax increases.

One proposal calls for investment in JOBS1st PA to create family-sustaining jobs for workers in the state by aligning education and workforce development with existing job opportunities.

According to the governor's office, the budget provides continued funding of $9.9 million for the Discovered in Pennsylvania-Developed in Pennsylvania program, which moves ideas more quickly from the lab to the marketplace and has assisted in retaining and creating more than 300 jobs.

Last fiscal year, the program known as D2PA supported initiatives tied to growing the life sciences, advanced manufacturing, business incubators and education, workforce and economic opportunity collaborations – including the "Skill Up the Student Pipeline" initiative in the Lehigh Valley.

The budget increases funding by $600,000 for World Trade Pennsylvania to expand promotion of state exports internationally and to attract foreign investment. Last year, the program facilitated more than $795 million in new export sales for Pennsylvania, according to the governor.

Education was a large component of the plan proposed by Corbett. The plan calls for spending $12.01 billion on students' early, basic and post-secondary education. That's about $400 million more than the last fiscal year.

Stacy Wescoe

Stacy Wescoe

Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

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