Steven P. Hunsberger is the president of the Indian Valley Chamber of Commerce.
(Editor’s note: the following is a Letter to the Editor from Steven P. Hunsberger, president of the Indian Valley Chamber of Commerce, which serves the business community of Northern Bucks and Montgomery counties. The views expressed within are his own.)
Pennsylvania faces significant challenges in keeping young people in the Commonwealth, as many seek education and job opportunities elsewhere. This trend has led to serious demographic issues, with the fastest-growing age group being those 80 and older. Our population is projected to grow much slower than the national average, which could result in reduced representation in Congress and lower federal funding.
As President of the Indian Valley Chamber of Commerce, I understand that retaining young adults is vital for our region’s economic growth.
The newly created Grow PA post-secondary education and career preparation plan aims to reverse these trends. Championed by PA Senator Tracy Pennycuick, the Grow PA Scholarship Program offers $5,000 grants to students in high-demand fields, provided they live and work in Pennsylvania for at least 12 months for each year they accept the grant. This initiative is designed to attract and retain Pennsylvania’s brightest minds in industries that the Commonwealth desperately needs.
In recent years, Pennsylvania has struggled to attract and retain employers who provide quality jobs. This year’s budget takes major steps toward making Pennsylvania more competitive by addressing barriers to job growth.
One key issue has been an overly bureaucratic system that delays economic development projects. These delays, sometimes lasting months or even years, have driven jobs and investments to other states. The budget addresses this with the Streamlining Permits for Economic Expansion and Development (SPEED) Program, which sets permit review timelines, introduces a tracking system, and allows for third-party reviews.
Additionally, the budget continues to phase down the historically high Corporate Net Income Tax (CNIT), moving toward one of the lowest rates in the nation. We are also eliminating the Start-Up Penalty, further removing barriers to business growth.
These reforms collectively signal that Pennsylvania is ready to compete and foster new opportunities for growth and prosperity.
Signed,
Steven Hunsberger, M.A., CFP®, ChFC
