May. 14, 2021
– Rep. Valerie Gaydos (R-Allegheny) today introduced legislation to support advanced manufacturing technologies by incentivizing investments in equipment, infrastructure and retention of top-tier talent.
“Fostering innovation is a way that our Commonwealth can advance a stronger, brighter and better economy,” said Gaydos. “Advanced manufacturing technologies depend on the use and coordination of information, automation, computation, software, sensing and networking. In addition, it may include the use of materials and capabilities enabled by physical and biological sciences. Advanced manufacturing enables new methods of manufacturing existing products, as well as the creation of new products emerging from new technologies. Anything we can do to incentive this expanding industry will produce tangible economic activity.”
House Bill 1388
creates incentives through two avenues:
Creating grants for equipment to be used in an advanced manufacturing project.
Allowing for state-administered low-interest loans for the purchasing, construction, rehabilitation and retrofitting of facilities for advanced manufacturing infrastructure.
The bill would encourage advanced manufacturing facilities and infrastructures to engage in business partnerships with state-related institutions; establish the Advanced Manufacturing Initiative Fund and the Advanced Manufacturing Venture Loan Program; and impose powers and duties on the Department of Community and Economic Development and the Pennsylvania Economic Development Financing Authority.
“Pennsylvania’s state-related institutions of higher education are well positioned to collaborate with high-technology industries in the development of advanced manufacturing processes,” said Gaydos. “Incentivizing this collaboration will spur job creation and help ensure Pennsylvania is sought out as a global leader in scientific advances in manufacturing techniques.”
House Bill 1388 is with the House Commerce Committee for consideration.