Pennsylvania ranks among the top states for new business survival, with 56% of businesses still operating after five years, according to new data from the U.S. Bureau of Labor Statistics.
The rate is the third-highest in the nation and above the national average of 51.6%, tracking companies launched in 2019 through economic disruptions including the COVID-19 pandemic.
Gov. Josh Shapiro attributed the results to efforts to streamline permitting, reduce red tape and invest in workforce and site development.
Recent national rankings have also cited Pennsylvania for improvements in business climate and site readiness.
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