Monday, July 28, 2014

PA Earns International Recognition For Strategies To Attract New Energy Investments

Gov. Tom Corbett Monday announced the Foreign Direct Investment Association named Pennsylvania the 2014 FDI Destination of the Future for Energy Intensive Industries for actively implementing strategies to support foreign direct investment in the energy sector.   
“Thanks to our diverse energy portfolio that is lowering energy costs and creating new jobs, Pennsylvania is leading an American energy revolution,” said Corbett. “New manufacturers are arriving and building plants. Companies are expanding and branching out to the energy supply chain, and engineering and environmental firms are growing and hiring.”
Pennsylvania received recognition for the governor’s Energy= Jobs Plan, the commonwealth’s first statewide energy plan. Corbett strategically outlines core concepts for leveraging Pennsylvania’s vast energy resources to further reduce energy costs and spur investment, industry development and job creation.
“There are more than 200,000 people working in jobs either created or made more secure by Pennsylvania’s energy industry,” said Corbett.
Today, Pennsylvania is second for electricity generation and nuclear production, fourth for coal production and is now the second largest producer of natural gas in the U.S. Pennsylvania is now a net exporter of energy, electricity and natural gas.
Pennsylvania’s abundant and low-cost energy resources have resulted in a significant increase to the local economy through hospitality and service professions and a reduction in home heating and electricity cost.
The FDI Association presented its second annual Foreign Direct Investment Awards at the World Forum for FDI 2014 held in Philadelphia. Nominations from around the world were accepted and evaluated during the month of May by a panel of distinguished global site consultants.
The first time the international event was held in North America, The World Forum brought together representatives from 36 countries including site selection, trade and investment agencies, economic development organizations and corporations that are expanding from around the world.

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