Best States for Business 2019

Pennsylvania

the place image

Pennsylvania

gross state product
$815B
population
12.8M
median household income
$61,568
cost of doing business
5% below nat'l avg
college attainment
31.4%
net migration
15,100 (year: 2018)
unemployment
3.9%
moody`s bond rating
Aa3
governor
Tom Wolf
As of December 2019
At $815 billion, Pennsylvania has the sixth biggest economy in the U.S. and is home to close to 50 of the 1,000 largest public and private companies in the U.S. by sales. With top-caliber schools like Swarthmore, Haverford and the University of Pennsylvania based in the state, companies aim to take advantage of the local graduate pool. Companies are less enamored, however, with the following two assessments of the state: Pennsylvania is expected to have among the nation’s slowest population growth through 2023 and the state
ranks poorly on fiscal health.
... Read More
On forbes lists
#14
In Business Costs
#33
In Labor Supply
#35
In Regulatory Environment
#23
In Economic Climate
#40
In Growth Prospects
#12
In Quality of Life
By The Numbers
EmploymentHousingEducationQuality of Life
Job Growth
0.6% (year: 2018)
Projected Annual Job Growth
0.4%
Unemployment
3.9%
Median Household Income
$61,568
Household Income Growth
3.4%
Right to Work State
no
Union Workforce
12.6%
  • Sources: Moody's Analytics; U.S. Census; ATTOM Data Solutions; FBI; BLS; Forbes.
  • a. Index measures whether a family earning the median income can afford the median-priced home. A value of 120 indicates a typical household has 20% more income than needed for the typical home.
Key Connections
People
Companies
Sports Teams
Top Colleges

More on Forbes

Jun 29, 2024

June 29 - FDI Weekly Review

The FDI portfolio gained 0.66% on the week. Our top performers were three regional banks: Oregon’s Columbia Banking System (COLB +7.9%), New York’s TrustCo Bank Corp NY (TRST +7.9%) and Pennsylvania’s Northwest Bancshares (NWBI +6.1%).
Jun 12, 2024

How To Give Away A $500,000 Comic Book Collection

Seven decades after he became addicted to Superman, Gary Prebula's collection of graphic novels and comics has a permanent home at the University of Pennsylvania library. The collection is now going through more processing, by both librarians and by an appraiser hired by the Prebulas. (While the collection is worth north of $500,000, it's up to the appraiser to determine its final value for tax deduction purposes.)
Jan 23, 2024

Ready To Run Pennsylvania

“Democracy without women is not democracy.” Yet, women hold only 28.2% of the seats in the United States Congress.