HARRISBURG, Penn., Jan. 13, 2005 (PRIMEZONE) -- The Pennsylvania Chamber of Business and Industry today said that only a competitive business climate that supports job growth will ensure that newly created loan programs and other economic stimulus programs meet their well-intended goals of creating new jobs and opportunities for Pennsylvanians.
"The low-interest loan program announced by the administration is certainly welcome news as another tool for small business owners in need of additional capital for their operations," said Maura Donley, PA Chamber vice president of communications. "But once new equipment is purchased or facility upgrades are made, then what? More needs to be done to ensure the long-term competitiveness of businesses in today's global economy."
Donley said economic development programs should complement a solid business climate. "The Governor's 'unwavering goal of energizing our economy and establishing Pennsylvania as a formidable economic leader' is laudable, but that occurs with reform, not refinancing," Donley said.
"We hope that in addition to creating economic development programs for business that the Governor will tackle our costly tax structure, our health-care costs, our legal system and our labor laws."
These systemic issues, the foundation of a good economy, are in need of serious revamping if Pennsylvania is to compete globally.
Donley said the cost of doing business in the Commonwealth continues to put Pennsylvania's job creators at a competitive disadvantage with other states.
"By fixing the structural problems that plague the Commonwealth's business climate, from a flawed tax structure to the high health-care and labor costs, economic development programs can be most effective," she said. "Only then will Pennsylvania truly become a formidable economic leader and only then will the Governor's goal of creating new jobs be realized."
The Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association and the fastest growing state chamber in the United States, with more than 10,000 members covering all 67 counties. More information is available on the Chamber's website at www.pachamber.org
The PA Chamber of Business and Industry logo is available at:http://media.primezone.com/prs/single/?pkgid=353