Why Pennsylvania Is Prime Real Estate for Your Small Business/Franchise

As an entrepreneur or aspiring small business owner, it’s important to pick the right area where you can launch and grow your business. With diverse culture, modern amenities, strong job growth, and promising economic opportunities, Pennsylvania is an ideal location for starting or growing a business. According to recent research, it’s one of the best states in the country for small business owners. Here's why:

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Business Incentives and Tax Breaks

Pennsylvania is proud to offer a generous array of tax incentives to businesses, such as corporate tax credits, job creation tax credits, and property tax abatements. Pennsylvania also offers education and apprenticeship tax credits to encourage businesses to hire and train employees. Together, these tax benefits provide small business owners with the financial support they need to succeed.

Promising Job Growth

Pennsylvania’s job growth rate has been steadily climbing in recent years, marking it as an increasingly attractive destination for business owners. According to the Bureau of Labor Statistics, Pennsylvania has a current unemployment rate of 4.3 percent, down from a high of 5.3 percent in 2016. The Pennsylvania Department of Labor and Industry also predicts a seven percent growth in overall jobs by 2024.

Potential for Growth

With a population of 12.8 million, Pennsylvania boasts a large customer base for business owners to target. Moreover, its diverse customer base, both in terms of demographics and geography, ensures that all businesses can find their customer niche. Furthermore, its transportation infrastructure is highly developed and easily accessible to the rest of the country, making it easy to expand your business and access resources you need.

Government Support

Pennsylvania Gov. Tom Wolf is committed to supporting small business growth in the state. “We’re focused on strengthening our economy, creating jobs and increasing opportunity for our residents,” said Wolf. “We are developing initiatives to help our small businesses access resources they need to succeed. And we are encouraging innovation by cultivating entrepreneurship and growing Pennsylvania’s startup culture.”

With its favorable economic environment, sound infrastructure, and generous business incentives, Pennsylvania is a great place to consider if you're thinking of starting or expanding a small business. Its strong job growth, government support, and opportunities for growth make it the perfect spot for entrepreneurs to turn their dream into a reality.