ALLEGHENY CONFERENCE ON COMMUNITY DEVELOPMENT

10-COUNTY ECONOMIC DEVELOPMENT: A STRONG ECONOMY CREATES PATHWAYS TO INDIVIDUAL PROSPERITY AND PROVIDES THE TAX BASE NEEDED TO SUPPORT ROBUST TRANSPORTATION, QUALITY EDUCATION, AFFORDABLE HOUSING, AND CULTURAL AND INFRASTRUCTURE INVESTMENTS. THE ALLEGHENY CONFERENCE DRIVES THESE OUTCOMES BY WORKING DIRECTLY WITH COMPANIES AND OTHER KEY STAKEHOLDERS TO ATTRACT, EXPAND, AND RETAIN BUSINESSES IN THE PITTSBURGH REGION. IN 2024, WE DROVE $361 MILLION IN CAPEX. IN 2024, WE DROVE $361 MILLION IN CAPEX. SEE SCHEDULE O FOR A SAMPLE OF THE 2024 HIGH-IMPACT PROJECTS THAT REPRESENT THIS GROWTH.- MAINSPRING ENERGY: MAINSPRING ENERGY SELECTED FINDLAY TOWNSHIP FOR ITS MANUFACTURING FACILITY, REPRESENTING $175 MILLION IN TOTAL INVESTMENT, INCLUDING $87 MILLION IN FEDERAL FUNDING. THE FACILITY WILL CREATE 600 PERMANENT JOBS AND AN ADDITIONAL 300 CONSTRUCTION JOBS. ONCE OPERATIONAL, IT WILL PRODUCE UP TO 1,000 LINEAR GENERATORS ANNUALLY, THE POWER EQUIVALENT TO MEET THE ELECTRICITY NEEDS OF UP TO A QUARTER OF A MILLION U.S. HOMES. MITSUBISHI ELECTRIC POWER PRODUCTS, INC.: MEPPI ANNOUNCED A $93 MILLION INVESTMENT TO EXPAND AND BUILD AN ADVANCED MANUFACTURING FACILITY IN THE REGION. THIS NEW FACTORY WILL CREATE 200 JOBS AND RETAIN OVER 800 POSITIONS. THE FACILITY WILL PRODUCE CUTTING-EDGE SWITCHGEARS, ENHANCING POWER RELIABILITY AND SUPPORTING THE MODERNIZATION OF THE ELECTRIC GRID WHILE REDUCING CARBON EMISSIONS. - ADVOCATING FOR PRO-GROWTH POLICIES: THE ALLEGHENY CONFERENCE SUPPORTS PRO-GROWTH LEGISLATION, PUBLIC POLICY, AND REGULATORY ACTIONS TO GROW THE ECONOMY BY IMPROVING COMPETITIVENESS, CREATING FAVORABLE BUSINESS CONDITIONS, REMOVING POLICY BARRIERS AND SECURING TRANSFORMATIVE PUBLIC SECTOR INVESTMENT. WE WORK AT ALL LEVELS OF GOVERNMENT LOCAL, STATE AND FEDERAL TO GUIDE POLICY AND ADVOCACY EFFORTS TO INCREASE ECONOMIC COMPETITIVENESS, ATTRACT AND RETAIN JOBS, AND ACCELERATE GROWTH OPPORTUNITIES REGIONWIDE.- STATE INVESTMENTS: A TOP BARRIER TO BUSINESS INVESTMENT IN SWPA HAS BEEN THE LACK OF PAD-READY SITES. THE NEW $500 MILLION PA SITES PROGRAM, CREATED AS PART OF THE 2024-25 STATE BUDGET, WILL DIRECTLY ADDRESS THIS CHALLENGE BY BRINGING MORE COMMERCIAL AND INDUSTRIAL SITES ONLINE, MAKING THE REGION MORE COMPETITIVE FOR NEW DEVELOPMENT. - TAX COMPETITIVENESS: PENNSYLVANIA IS STRENGTHENING ITS BUSINESS CLIMATE THROUGH TAX REFORMS. THE CORPORATE NET INCOME (CNI) TAX RATE IS SET TO DECLINE FROM 7.9% IN 2025 TO 4.99% BY 2031 REDUCING IT BY HALF FROM THE ORIGINAL LEVEL. THE STATE IS ALSO GRADUALLY INCREASING THE NET OPERATING LOSS (NOL) DEDUCTION LIMIT FROM 40% TO 80% BY 2029. THESE CHANGES SEND A CLEAR SIGNAL THAT PENNSYLVANIA IS OPEN FOR BUSINESS AND INVESTMENT. - PERMITTING REFORM: EFFICIENT PERMITTING IS CRITICAL FOR SUSTAINABLE GROWTH. THE STREAMLINING PERMITS FOR ECONOMIC EXPANSION AND DEVELOPMENT (SPEED) PROGRAM AND PA PERMIT FAST TRACK PROGRAM INTRODUCED KEY REFORMS, INCLUDING A SECURE PERMIT TRACKING SYSTEM, THIRD-PARTY REVIEWS FOR SELECT PERMITS, AND DEFINED REVIEW TIMELINES TO ACCELERATE PROJECT APPROVALS.

SPEARHEADING DOWNTOWN PITTSBURGH'S REVITALIZATION: DOWNTOWN PITTSBURGH IS PIVOTAL TO THE REGION'S ECONOMIC VITALITY. THE ALLEGHENY CONFERENCE LAUNCHED A COLLABORATIVE VISION PLAN TO REIMAGINE OUR URBAN CORE. IN COLLABORATION WITH ALLEGHENY COUNTY, THE CITY OF PITTSBURGH, AND 80+ PARTNERS, WE SPEARHEADED A COMPREHENSIVE, MARKET-DRIVEN STRATEGY FOR DOWNTOWN. GOVERNOR SHAPIRO COMMITTED $600 MILLION IN PUBLIC-PRIVATE INVESTMENT TO SUPPORT ITS IMPLEMENTATION OVER THE NEXT DECADE. - PUBLIC REALM UPGRADES: SECURED FUNDING AND ADVANCED THE DESIGN OF TWO PUBLIC SPACE PROJECTS, SETTING THE STAGE FOR CONSTRUCTION WITH BACKING FROM PUBLIC, CORPORATE, AND PHILANTHROPIC LEADERS. - HOUSING MOMENTUM: SUPPORTED THE URBAN REDEVELOPMENT AUTHORITY (URA) IN DEPLOYING DOWNTOWN CONVERSION PROGRAM FUNDS AND ADVOCATED TO STATE LEADERS TO CONTINUE REINVESTING IN THESE FUNDS, LEADING TO TWO MAJOR RESIDENTIAL CONVERSION PROJECTS BREAKING GROUND IN 2024, AND HUNDREDS OF OTHER UNITES TO COME OVER THE NEXT FEW YEARS. - POLICY: ADVOCATED FOR AND SECURED APPROVAL OF THEBY-RIGHT LERTA (LOCAL ECONOMIC REVITALIZATION TAX ABATEMENT PROGRAM),WHICH INCENTIVIZES INVESTMENT IN DOWNTOWN PROPERTIES. WITH THE COUNTY, CITY, AND SCHOOL TAXING BODIES ON BOARD, THE PROGRAM IS FULLY OPERATIONAL.