Economics and Other

IFO Releases

Pennsylvania Economic Development Incentives

November 29, 2021 | Economics and Other

This research brief presents data on Pennsylvania economic development incentives for fiscal years (FY) 2015-16 through FY 2020-21. The tables provide annual detail on tax credit utilization or awards, state spending or grants, job training programs and state loan programs. The brief also highlights recent changes to incentive programs spending or utilization.

Tags: brief, credits, development, economic, incentives, research, tax

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Economic Outlook and Property Tax Update

November 16, 2021 | Economics and Other

Analyst Jesse Bushman made a presentation to PASBO regarding the IFO’s recent Five-Year Economic and Budget Outlook and School District Property Tax Forecast.

Tags: demographic, outlook, property, revenue

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2021 Demographic Outlook

November 15, 2021 | Economics and Other

Section 604-B (a)(2) of the Administrative Code of 1929 specifies that the Independent Fiscal Office (IFO) shall “provide an assessment of the state’s current fiscal condition and a projection of what the fiscal condition will be during the next five years. The assessment shall take into account the state of the economy, demographics, revenues and expenditures.” This report fulfills the demographics obligation for the IFO’s release of the Economic and Budget Outlook for Fiscal Year 2021-22 to 2026-27.

Tags: demographic, demographics, outlook

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PA and U.S. Record Historic Wage Growth

November 03, 2021 | Economics and Other

Using the latest data, the Independent Fiscal Office published a research brief that finds historic wage gains for the U.S. and Pennsylvania. The brief notes that employee compensation comprises 56% of final sales and firms will likely push most labor costs forward to final consumers, thereby putting upward pressure on prices and inflation.


Tags: growth, wage

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