Pennsylvania is the fastest growing state for FDI in the US
That combined with her access to over 60% of the U.S. & Canadian population, 6 of the 10 largest U.S. markets, placing Pennsylvania right between the financial market of New York City and the regulation hub of Washington, D.C., simply supports Pennsylvania as a great place to do business!
The state’s Foreign Direct Investment services include:
- Aiding companies in setting up their U.S. Entity
- Provide information on Pennsylvania’s labor, averages wages, business tax structure and more.
- Coordinating visits to the Commonwealth and potential sites.
- Most important is connecting them to regional partners that will assist them with creating a successful business such as; Economic Development Experts, Suppliers, lawyers, accountants, bank experts, colleges/universities and more.
- Extensive highway system – over 194,000 km
- Modern freight railroad systems – 5th largest in U.S. – over 8,200 km
- Three major ports with access to the Atlantic Ocean, Great Lakes and Gulf of Mexico
- Six international airports (Philadelphia & Pittsburgh are major centers)
* Pennsylvania offers a manufacturing exemption to manufacturers with a facility located in Pennsylvania. Manufacturers are exempt from taxation on property that is incorporated into the manufactured product.
* Property and equipment that are used predominantly and directly to produce the product are also exempt.
* The PA Resource Manufacturing Tax Credit establishes a new tax credit for an entity purchasing ethane for use in manufacturing ethylene at a facility in Pennsylvania.
* The credit is equal to $.05 per gallon of ethane used beginning in January 1, 2017 through July 1, 2042.
* Eligible entities must make a capital investment of at least $1 billion and create the equivalent of at least 2,500 * full-time jobs while constructing the manufacturing facility.
* Pennsylvania offers a 100 percent single sales factor for corporate net income tax apportionment purposes that encourages businesses to locate within the commonwealth. Under a single sales factor formula, the tax is now based solely on the percentage of a corporation’s total sales occurring in Pennsylvania.
* Market-based sourcing in Pennsylvania, where the customer receives the benefit, provides corporate income tax advantages.
* Net Operating Loss Deduction cap has increased to $4 million or 25 percent of Pennsylvania taxable income for tax year 2014 and $5 million or 30 percent for tax year 2015 and beyond. Additionally, the Corporate Loans Tax was repealed effective in 2014.
* Pennsylvania has the lowest marginal personal income tax rate (3.07 percent) in the nation among states that levy an income tax. This benefit: Shareholders of an S corporation or LLC Partners in a partnership Sole proprietorships Employees of any entity engaged in the manufacturing industries.