Corbett discusses economy with LV business leaders
Lehigh Valley Chamber of Commerce Vice Chairman Stephen Patterson, President and CEO Tony Iannelli and Executive Vice President Michelle Griffin Young discussed issues facing the business community with Governor Tom Corbett over breakfast at his residence in Harrisburg recently.
The governor reiterated his pledge to "no new taxes" in the budget for 2012-2013 and the challenges of meeting the requirements of state government with limited funds.Patterson, who is TD Bank's regional senior vice president for the Lehigh Valley region, said the meeting was well worth the trip. "I appreciated the governor reaching out to the business community and his very candid approach to the reality of the state's growing debt and unfunded liabilities," Patterson said. "Our members make tough decisions every day to stay on budget and it's important that our government does the same."
According to the administration, private sector employment has grown by 73,000 since he took office.
"As governor, my top priority is private sector job creation," Corbett said. "I am committed to creating an economic environment where state government and business can work together to ensure job growth across the commonwealth."
Some of the newly implemented factors to accomplish that goal include changing the way the state calculates a business' tax liability to a single sales factor, continuing the phase out of the Capital Stock and Franchise Tax and lessening the burden on employers while stabilizing the unemployment compensation fund.
"The governor recognizes that this is a tough time for our chamber members and he is committed to policy decisions that will eliminate government regulatory burdens that hinder Lehigh Valley businesses from hiring people," Iannelli said. "We also discussed the importance of the natural gas industry to all of Pennsylvania, the tax credits in this year's budget, education and the pension crisis."
The program was organized by the state chamber and the governor's office. About 15 statewide chambers attended on July 12.