Gov. Tom Corbett Signs Bill to Promote New Job Creation in Pennsylvania
01 Nov, 2012
The Promoting Employment Across Pennsylvania Act was signed into law on October 26, which encouraged economic development and new job creation in the state.
The gist of the law says a qualified company that enters into an agreement with the Pennsylvania Department of Community and Economic Development will be eligible to retain 95 percent of the qualified company’s withholding taxes for individuals employed in new jobs created by the company. Qualified companies must create at least 250 new jobs in Pennsylvania within a five year period, 100 of which must be created within the first two years.
The new act is capped at $5 million per year and is set to expire on January 1, 2018.
To read the full text of the bill, visit www.legis.state.pa.us.
Visit Governor Corbett’s website at www.governor.pa.gov.