President’s Message: Treasures Found, Treasures to Behold
By Chris Berleth
“He then closed his eyes as children do in order that they may see in the resplendent night of their own imagination more stars than are visible in the firmament; then he re–opened them, and stood motionless with amazement. Three compartments divided the coffer. In the first, blazed piles of golden coin; in the second, were ranged bars of unpolished gold, which possessed nothing attractive save their value; in the third, Edmond grasped handfuls of diamonds, pearls, and rubies, which, as they fell on one another, sounded like hail against glass.” ~The Count of Monte Cristo
In literature which recounts the tales of treasure-seekers who find their long-hoped for ‘pearl of great price’, there are often similar devices at work. A hero, most often, alone, has found the place to dig, only to be stifled in what should have been an easy search. Prevailing against what seems a foregone conclusion that the treasure never existed, they dig a little further, and strike something yet undiscovered. A jolt of energy, excitement, and anxiety threatens to overwhelms the protagonist, who against all hopes finds what they sought. Alone, the hero revels in the discovery, and returns to a childlike state, full of hope, giddiness, and desire.
On January 11, I had a miniature version of this experience.
Alone in the basement of 238 Market Street as I made final preparations for our move to our new Chamber offices, I discovered on the top shelf of a basement storage closet a nondescript moving box. Untouched for thirty years, the yellowed cardboard was dry and intact, preserved from years of a dampened basement by its height on the shelf.
Opening the lid, I discovered an envelope of black and white photographs depicting Bloomsburg in the 1950’s and 1960’s, a long-outdated tape recording of a radio show from the 60’s about the beauty of Bloomsburg, a book written by the U.S. Chamber about the dangers of communism, and a handful of nearly pristine Bloomsburg Fair Souvenir books. Aerial photographs showed a Bloomsburg of a bygone time, and yet one thing remained the same.
In the photos of the Fair, there was pure joy. One photo in particular, which depicted a monkey doing tricks encircled by spectators, showed children laughing and smiling. Another showed the size and spectacle of the event, and yet more showed pride and affection for our community.
While these treasures have either been donated to the Columbia County Historical & Genealogical Society or will soon be displayed in our offices, treasure seekers need not hope for such a moment to find treasure in Bloomsburg.
All you need to do, is to go to the Fair.
It’s easier than ever to find treasures at the Fair these days, whether it’s the unexpected announcement that camel rides, or hot air balloons will anoint the fairgrounds, or that a new and exciting food item may be found in the vast array of trucks and alleyways.
Perhaps your treasure is one that you return to after a year away, protected in your heart as an annual “must-see” or “must-do”.
Will you choose adventure this year, and explore the parts of the Fair which you’ve never visited before, saying under your breath, “How long has this been here? I had no idea!”
Maybe you’ll seek daring-do, getting tickets to a show, or watching in wonder as muscular horses pull impossibly heavy loads across the equine arena. You may stop and smell the roses, or the dozens of other natural beauties in the agriculture or horticulture buildings, making a wish at the Fair’s wishing fountain.
Perhaps you risk-taker, you gambler of gamblers, will part with a quarter or two for a shot at a pile of candy, or watch in awe as the PPL safety crew showcases the power of electricity and its danger.
You’ll meet old friends in line waiting for a slice of that famous pizza that you only ever get at the Fair, or leave with doughnuts dripping in maple sugar.
You’ll tell everyone that the best time to go to the Fair is this date and this time, by this gate or that parking lot. You’ll honor veterans, smile with children, and celebrate this annual tradition.
And you’ll enjoy a treasure that comes around just once a year, with energy, excitement, and maybe even a little anxiety. Join me though in reveling, will you, in the hope and giddiness, the desire and the discovery of one of Bloomsburg’s great treasures…the Bloomsburg Fair.
Chamber joins Coalition Calling on Pro-Growth Agenda
The Columbia Montour Chamber joined a coalition of over 500 chambers and trade associations in calling on the next Congress and Administration to pursue a pro-growth agenda and prevent tax increases on American families and businesses. Read the letter here.
Absent congressional action, American families, workers, and businesses will be hit with the largest tax increase in American history at the end of next year.
“While the impact of a massive tax increase on individual Americans is clear, it is critical for policymakers to understand that the expiration of many pro-growth business tax reforms from the 2017 Tax Cuts and Jobs Act (TCJA) also will dramatically increase costs for families and customers, harm main street businesses, reduce take-home pay for workers, and result in the loss of innovation and American jobs,” said Neil Bradley, Executive Vice President and Chief Policy Officer at the U.S. Chamber of Commerce. “Pro-growth tax policy doesn’t just grow the overall U.S. economy; it raises wages for American workers and improves standards of living. Maintaining and improving pro-growth tax policy ensures that the U.S. remains globally competitive, retaining and attracting businesses, jobs, investment, and innovation here at home.”
Recent polling from the U.S. Chamber shows a majority (80%) of voters are concerned that increasing taxes would result in higher prices and 93% believe American families and businesses are already paying enough in taxes.
Small businesses say that a competitive tax code means local economies grow and prosper, while workers across the country benefit from higher paychecks and more job opportunities.
Creating “Cool” Job Perks for Employee Inspiration
Most business owners will agree that maintaining employee happiness is a key factor in working to achieve overall success in their business operations. Although there are many complexities involved in achieving this goal, creating a positive corporate work culture through the offering of unique and desirable job perks has proven successful for many companies. With the proper selection of incentives, individuals within the workforce are more likely to feel part of a larger team and appreciated for their contribution to the common goals of the organization. As a result, human resource personnel will find it easier to both attract and retain necessary talent.
Of course, salary increases and bonuses are welcomed by nearly all employees. But going beyond that to find more unique and impactful benefits or perks targeted to a particular workforce requires benefit planners to understand the demographics and needs of their employees. An easy way to discover the priorities and interests of employees is simply to ask them through one-on-one interviews, group meetings or surveys.
An engaged workforce is a more productive workforce. Perks that create motivation among employees will reduce turnover and help increase productivity.
Here are a few ideas for “cool” perks that have been successfully utilized by companies:
• Occasional “free food” or “snack giveaways
• An elimination of official work hours
• In-Office professional training programs
• Family-focused benefits
• Onsite health services
• Childcare discounts or on-site childcare facilities
• Surprise days off
• Financial wellness programs
• Continuing education programs
• Student loan assistance
• New baby bonuses
• Fertility assistance
• Private Lactation facilities
• Give back programs
• Office parties
• Pet focused benefits
• Personalized appreciation notes
• Work anniversary celebrations
• Welcome packages for new employees
The Columbia-Montour Chamber of Commerce offers its members access to My Benefit Advisor as a solution for employee benefits, including voluntary offerings. For more information about My Benefit Advisor, visit our website at cmcc.mybenefitadvisor.com or contact Rob Higginbotham at (800) 377-3536.
Why Self-Awareness is a Critical Trait in Today’s Workplace
- Self-awareness is essential for both personal and professional growth, enabling individuals to accept feedback constructively and improve communication skills.
- Teams benefit from self-awareness as it enhances team dynamics by fostering trust, collaboration, and more efficient conflict resolution.
- A lack of self-awareness in employees can lead to a toxic work environment and undermine team trust and collaborative efforts.
- Strategies for fostering self-awareness include promoting regular feedback loops, incorporating self-assessment tools, and encouraging a growth mindset culture.
- Leaders who model self-awareness set a powerful example, promoting a company culture that values engagement, initiative, and ethical behavior.
698 ~ 4 min. read
Self-awareness is increasingly recognized as a cornerstone of professional success. In the context of leadership, it is often considered a key differentiator between high-performing teams and those that struggle with internal friction and inefficiency. A lack of self-awareness can lead to several issues, from poor communication and collaboration to a toxic work environment. Read on to learn more about the value of fostering self-awareness for both employees and leaders in any organization.
The Role of Self-Awareness in Professional Development
Self-awareness is the ability to understand one's strengths, weaknesses, emotions, and the impact of one's behavior on others. This trait is essential for personal and professional development for several reasons:
- Receiving Feedback Constructively: Self-aware individuals are more likely to accept constructive criticism without becoming defensive. They see feedback as an opportunity for growth rather than a personal attack. This mindset is crucial in fast-paced environments where adaptability and continuous learning are key.
- Improving Communication Skills: When employees are aware of their communication style, they can adjust it to suit different situations and audiences. This flexibility can lead to more effective teamwork and collaboration, as employees are better equipped to navigate interpersonal dynamics. The DiSC profile is one tool that can help you raise your own self-awareness and understand what’s best for you when it comes to inbound communication.
- Taking Responsibility for Actions: Self-aware employees are more likely to acknowledge their mistakes and take ownership of their actions. This accountability is a critical element in building trust within teams and with leadership. Nicole Lipkin, a psychologist and Forbes’ contributor, offers these tips for owning up to your mistakes at work.
Impact on Team Dynamics and Company Culture
A lack of self-awareness doesn't just affect the individual—it can ripple through teams and the entire organization. Consider the following:
- Creating a Toxic Work Environment: Employees who lack self-awareness may not realize how their negative behaviors, such as interrupting others or dismissing different viewpoints, affect team morale. Over time, this can lead to decreased engagement and productivity.
- Undermining Trust and Collaboration: Trust is the foundation of any strong team, and it is built on understanding and respect. When team members aren't self-aware, they may inadvertently undermine this trust by failing to recognize how their actions or attitudes affect others.
- Inefficient Conflict Resolution: In teams where self-awareness is lacking, conflicts may fester rather than be addressed constructively. Self-aware employees are more likely to approach conflicts with empathy and a problem-solving mindset, which can lead to quicker and more effective resolutions.
Strategies to Foster Self-Awareness in the Workplace
Business leaders and team managers must actively foster an environment where self-awareness is cultivated and valued. Here are a few practical strategies to achieve this:
- Encourage Regular Feedback Loops: Implement a culture where feedback is continuous and normalized. Feedback should be specific, actionable, and delivered in a way that encourages reflection rather than defensiveness. Managers can model this by openly soliciting feedback on their performance and decisions.
- Incorporate Self-Assessment Tools: Personality assessments, 360-degree feedback, and self-reflection exercises can help employees gain insights into their behaviors and tendencies. These tools can serve as a starting point for more in-depth conversations about personal and professional growth.
- Promote a Growth Mindset Culture: When organizations emphasize learning and development over a fixed mindset, employees are more likely to see self-awareness as a skill that can be developed rather than an innate trait. This can encourage them to seek out coaching, training, or mentorship opportunities to enhance their self-awareness.
- Lead by Example: Leaders and managers must embody self-awareness in their daily actions. When leaders openly reflect on their mistakes, show vulnerability, and demonstrate a commitment to personal growth, they set a powerful example for their teams.
The Takeaway
Investing in self-awareness training and development can lead to significant long-term benefits for any organization. Self-aware employees tend to be more engaged, more likely to take initiative, and better equipped to handle the complexities of modern work environments. They also contribute to a positive company culture where innovation, collaboration, and ethical behavior are the norms.
By making self-awareness a core competency in hiring, development, and performance evaluations, organizations can build stronger, more cohesive teams capable of navigating the challenges of today's dynamic business landscape.
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The Columbia Montour Chamber of Commerce is a private non-profit organization that aims to support the growth and development of local businesses and our regional economy. We strive to create content that not only educates but also fosters a sense of connection and collaboration among our readers. Join us as we explore topics such as economic development, networking opportunities, upcoming events, and success stories from our vibrant community. Our resources provide insights, advice, and news that are relevant to business owners, entrepreneurs, and community members alike.
New Member Highlight – KAM Strategies
KAM Strategies is a lobbying, procurement and government relations firm. At KAM Strategies, your business is their business. With decades of experience in the halls of state and county government, their team is dedicated to addressing the state and local issues that are important to you. Whether lobbying for or against certain legislation or getting funding for that next big project you're planning, they have built the relationships necessary to deliver results.
Member News ~ September 12, 2024
First Keystone Community Bank to Celebrate 160 Anniversary
First Keystone Community Bank is planning celebrations at all of its 19 branches on Friday, September 20th during normal business hours. The Main Branch, located at 111 W. Front St. Berwick, will hold a brief program at 11 a.m. Learn more about their 160th Anniversary and RSVP to the program here.
Berwick YMCA Hosting Anniversary Celebration September 15th
Join the Berwick Area YMCA as they celebrate the one-year anniversary of their Wellness Center and Gymnasium. Get tours of the facility, sample classes, and attend health seminars. Get all the details!
Camp Victory to host 5K Run & Walk
Camp Victory will host a 5K Run & Walk on October 6, 2024. The race
will take place in and around Camp Victory’s campus – taking in the wonders of Camp Victory’s beautiful scenery. Get more details here.
Halloween and Fall Foliage Train Rides Happening October 12th in Bloomsburg
These rides are brought to you by Downtown Bloomsburg, Inc. and the Bloomsburg Public Library in partnership with the North Shore Railroad, Penn Valley Railroad, LLC, and the SEDA-COG Joint Rail Authority. There are three train rides on Saturday, October 12 - 10 am, 12 noon and 2 pm. Get more info here.
BIDA Conducting Semi-Annual Wage Survey
The results of this survey are available to employers, to see the comparison of wages in our immediate region and to assist our educational and training institutions with understanding needs. The individual results will remain confidential, and an aggregate report will be published and shared with all. Fill out survey here.
Bloomsburg Library looking for Volunteers
Bloomsburg Library has benefited greatly from community volunteers and still needs more if anyone wants to help check out books at the service desk, do some light cleaning and landscaping, or shelve books. Contact Ammon Young, at ammon@bloomsburgpl.org or 570-490-0522 if you can offer a few hours per week or be on a list to help as needed.
McKonly & Asbury Celebrates Ranking
McKonly & Asbury is honored to announce that they have been named the #1 ranked firm in the nation in the Midsized Firm’s category of Accounting Today’s 2024 Best Firms to Work For. This marks the 9th time that McKonly & Asbury has been named to this prestigious listing, and the first time recognized as the highest ranked firm in their category. Get full details!
Women's Giving Circle "Lucky Last One" Fundraiser Happening October 3rd
October 3rd at 6:30pm at the Pine Barn Inn (Danville). Join the Women's Giving Circle for a casual evening of fun and a chance to win $3,000 on the lottery board. Proceeds from the event support their future grantmaking. Learn more.
Hess Recreation Area Road Construction Notice
The Hess Recreation Area access road will be closed for construction beginning Monday, September 9, and will remain closed for an estimated two weeks to allow for construction of new roadway drainage features. The actual duration of the work will depend heavily upon weather conditions. The main road gate will be closed until construction is complete. Park visitors will be unable to use the roadway or access the main parking lot during this time. However, the Meadow Lane parking area and the Beaver Place Trailhead parking area will remain available for use and all park trails and the restroom facilities will remain open. For questions about this project, please contact Bob Stoudt, MARC Director, at (570) 336-2060 or RStoudt@MontourRec.com.
Master of the Mandolin Opens Weis Center’s New Season on Sept. 13
The Weis Center for the Performing Arts will kick-off its new season with bluegrass music by Sierra Hull on Friday, September 13 at 7:30 p.m. at the Weis Center. Learn more.
Bloomsburg Children’s Museum Hosts Annual Battle Bot Tournament
On August 24th the Bloomsburg Children’s Museum held “Battle in the Burg,” an annual combat robot tournament. This year’s competition saw 45 robots entered in the one- and three-pound divisions. Robot teams came into Bloomsburg from six states. 230 spectators attended the event. Learn more.
Ken Pollock hosting 5th Annual Car Show
Ken Pollock Ford's 5th Annual Car Show is coming up on September 15th, 2024! Money raised benefits the Stepping Stone Transplant Patients at Johns Hopkins. Come join us and enjoy some great food, music, raffles, and cars! More info.
Ready PA September Newsletter out now
September - National Preparedness Month.
2024 Susquehanna Greenway Mini-Grant Program Opens
The Susquehanna Greenway Mini-Grant program aims to support the advancement of regional outdoor recreation, conservation, trail projects and programs within the Susquehanna Greenway which includes Columbia and Montour counties. Proposals for projects that take place outside of the Susquehanna Greenway will not be considered. The application window will close at 4:59 PM on October 25, 2024. To learn more and apply for grants you can go to susquehannagreenway.org/mini-grant-program.
Attorney Partners Jenna Franks and Landon Hodges Earn CELA Certification
Attorney Jenna Franks, Esq., and Attorney Landon Hodges, Esq., both partners at the elder law firm of Steinbacher, Goodall & Yurchak, recently both earned their Certified Elder Law Attorney (CELA®) certification from the National Elder Law Foundation. Learn more.
Commonwealth University offers Fall Workforce Development Courses
Check out the Fall training schedule of workforce development courses include Management and Leadership, Healthcare and more. Get more details about all their programs!
SEDA-COG MPO Launches Public Survey to Identify Long Term Transportation Needs
SEDA-Council of Governments Metropolitan Planning Organization (SEDA-COG MPO) invites the public to take an online survey to share regional transportation needs and priorities. The feedback received will help to inform the organization’s 2050 Long-Range Transportation Plan (LRTP). The survey is open from August 28–September 30, 2024 and can be accessed at https://bit.ly/3XavBlo
Bloomsburg Children's Museum Announces September Programs
Berwick YMCA Welcomes new Executive Director Childcare Services
Kelly Billig, Executive Director Childcare Services, has joined the Berwick Area YMCA team. Kelly has dedicated the past 30 years’ to helping little ones grow and thrive in the community. The Berwick Area YMCA is looking forward to growing their childcare facility under Kelly’s leadership. Welcome Kelly!
PPL Electric Utilities "The Power Line" is out now
Check out regional information from PPL.
Free Digital Literacy Classes Offered by Area Libraries
A Grant from the Degenstein Foundation is supporting digital literacy education for seniors and others at libraries across the region through the New Atlas Digital Navigator Program. Learn more.
T-Ross Brothers hosting Scavenger Hunt
Back by popular demand! Starting November 1st The Susquehanna Valley Scavenger Hunt, presented by T-Ross Brothers Construction, is in the works! Participants will navigate a gauntlet of puzzles, decode cryptic clues, and complete fun challenges throughout our community! If your business or organization would like to be apart of this event contact robertt@trossbrothers.com.
Bloomsburg Area YMCA Hosting WVIA for Listening Tour
The Bloomsburg Area YMCA Community Resource Hub is excited to host and invite you to a WVIA News Listening Tour on Monday, September 16th. There will be two sessions, Session 1 from 12 pm to 1:30 pm and Session 2 from 1:30 pm to 3:30 pm. Please register at WVIA News Listening Tour - Bloomsburg; space is limited.
Columbia County Traveling Library hosting Verses in the Vineyard
Join CCTL for an evening of wine tastings, small bites, and literary delights. Visit www.travelinglibrary.org/verses to purchase tickets online. The event will be held Saturday, September 14, 6-8 PM at Freas Farm Winery - 30 Twin Church Rd Berwick, PA. Learn more!
IMC Partnering to Offer Electrical Safety Training
The Innovative Manufacturers’ Center (IMC), Inc. is excited to announce its continued partnership with The Manufacturers' Association to support training in electrical safety in central and southcentral Pennsylvania through December 2024. Open enrollment opportunities scheduled for October 8 – State College. Learn more.
Bloomsburg Fair Happenings
- September 25th - Veteran Day and Expo
- Rabbit Transit $2 trips to the Fair
- Ronald McDonald Day - September 24th - $1 of every regularly priced admission will go to the Ronald McDonald House of Danville
The Women's Center of Columbia and Montour Counties Hosting 50th Anniversary Celebration
The Women’s Center, Inc. is thrilled to invite you to their 50th Anniversary Celebration happening November 16th at the Barn at Frosty Valley. Learn more about the celebration here.
Pennsylvania College of Technology offers Workforce Development Courses
Check out PCT's full listing of Workforce Development Courses happening all year long! Courses include Excel Training and Fundamentals of GD & T.
Servpro of Columbia, Montour & Sullivan Counties offering CE classes
5 CE classes will be offered by Servpro of Columbia, Montour & Sullivan Counties. Get the full schedule.
3rd Annual Photo contest hosted by Journey Bank
Community Giving Foundation partnering on a regional nonprofit Conference in October
Community Giving Foundation and First Community Foundation Partnership of Pennsylvania (FCFP) are thrilled to partner together to create Elevate2, a new regional nonprofit conference. The inaugural conference will be held on October 14-15, 2024, at Bucknell University in Lewisburg. More information is available online at elevate2.org
President’s Message: Light, Not Heat
by Chris Berleth, President/CEO, Columbia Montour Chamber
Last night, America tuned in for a highly polarized national debate between former President Donald Trump and Vice President Kamala Harris. As the country weighs the candidates’ remarks, this much is clear: the exchanges were heated, and candidates’ responses told us little that we didn’t already know about their policy positions.
Your Columbia Montour Chamber of Commerce does not have a political action committee, nor do we endorse candidates. You won’t read about your local chamber picking a winner – that’s not our goal. Rather, we have no problem calling out when we feel like losers – that so long as candidates don’t discuss the policy and regulatory concerns that will undoubtedly impact us in the years to come, it is the electorate which loses.
At the Chamber, our vision for public discourse is to “generate light, not heat,” and to elevate the discussion on policies that will lead us to prosperity and the common good.
In addition to your Chamber’s historic efforts to do so, this concept of “light, not heat” was the mantra of my good friend Joe McGranaghan, former Mayor of Shamokin Dam, who served as moderator of several candidate forums for our good neighbors to the west. Stern and straightforward, Joe asked honest questions, and sought matter-of-fact responses. While he certainly held an opinion himself, he sought to ask the tough questions that were as nonpartisan as possible. He brought this skillset to his political career and to his day job as a radio host and interviewer. I admired this trait in him greatly.
Today is September 11, 2024, and I cannot help but feel that several different elements of American life are converging before my eyes. First, I cannot help but pause and remember where I was twenty-three years ago, the decisions that arose from that awful and fearful day, the triumphalism of American resolve, and the bravery of ordinary citizens. Second, I am dissatisfied by the state of state and national politics that polarize and divide our people. Third, I am resolved not to be a part of that polarization. Lastly, I hope to honor the memory and legacy of my recently departed friend Joe, who passed away earlier this year.
Our community has come to expect that the Chamber will host meaningful discourse before the November 5 election. We are grateful that the community trusts us with this weighty task. That said, honoring the public trust means resolutely protecting against an outcome that further divides the electorate – on an outcome that generates light, not heat. Much of this depends on formatting, the moderator, and the bravery and quality of the questions being asked – that they are honest, unbiased, and designed to inform.
It also depends on a willingness to engage in such a discussion by our candidates, and so our message today is to stay tuned. In the coming weeks, your Chamber will be taking steps to secure a format that is amenable to all candidates and honors the values expressed herein. So long as all candidates in a given race can agree to our format, we will do our best to honor the tradition of bringing light, not heat. As we navigate the increasingly polarized landscape, know that it is our hope to open the door to honest discussion, and flip on the light switch to the answers that lead us in hope to increasingly better government.
New Tax Credit For Employers Who Boost Employees’ College and Disability Savings
Source: State Treasurer Stacy Garrity, Guest Post for the PA Chamber of Business and Industry
This year’s state budget included an innovative new tax credit that will benefit Pennsylvania businesses, which help their employees save for education costs and disability-related expenses!
Starting in 2025, employers who contribute to a 529 account, like a PA 529 College and Career Savings Program account, belonging to their employees are eligible for a 25 percent tax credit on up to $500 in matching contributions per employee per year. The tax credit also applies to contributions to an employee’s ABLE (Achieving a Better Life Experience) account. PA ABLE helps Pennsylvanians with disabilities and their families save for disability-related expenses without impacting other benefits.
This new credit was originally introduced as House Bill 1745, which was co-prime sponsored by state Rep. Paul Friel (D-Chester) and state Rep. Kristin Marcell (R-Bucks) as means to incentivize employers to contribute to education and disability savings. Senate Majority Leader Joe Pittman (R-Indiana) sponsored the amendment that incorporated the credit into the omnibus Tax Code bill signed this summer by Governor Josh Shapiro.
When an employer contributes to an employee’s education or disability savings account, they’re showing their support for employees and their families by investing in their futures. Any contributions made by employers also support workforce development by encouraging employees to save for their child’s future education. By saving more for higher education now, families will have a smaller financial burden as their child embarks on their career path. For employees with a disability, additional contributions to an ABLE account will increase financial independence and help build wealth.
Pennsylvania continues to see a need for highly skilled workers, and this tax credit supports saving for the education needed to fill these positions. PA 529 accounts can help pay for expenses associated with most technical and career schools, community colleges, four-year universities, and apprenticeship programs, as well as some K-12 expenses.
Our PA 529 program has been helping families save and pay for post-high school education for more than 30 years. The program is incredibly flexible and offers two plans to save with – the PA 529 Guaranteed Savings Plan (GSP) and the PA 529 Investment Plan (IP). Currently, more than 300,000 families have more than $7.7 billion saved in PA 529 accounts.
The PA 529 IP earned a Gold Rating from Morningstar – naming it one of the top two 529 plans in the entire country. PA 529 IP account earnings are dependent on financial market performance. Account owners can choose from a variety of investment options, including target enrollment date portfolios that automatically reallocate portfolios as a child approaches post-high school education enrollment to best manage risk.
PA 529 GSP accounts let families save at today’s tuition rates to cover tomorrow’s tuition expenses – meaning if they save enough for a credit today, it will be enough to pay for a credit years from now regardless of how much tuition actually increases.
PA ABLE accounts can help Pennsylvanians with qualifying disabilities and their families save and pay for disability-related expenses without impacting their eligibility for important benefits like Medicaid and SSI. PA ABLE can be used to save for things like groceries, rent, education, adaptive vehicles, assistive technology and more. PA ABLE is one of the largest ABLE programs in the country with more than 9,500 accounts and more than $130 million saved.
As businesses use this new tax credit in the coming year by contributing to PA 529 and PA ABLE accounts, the added benefit to their employees will make them a more attractive place to work and help keep Pennsylvania employers competitive in the job market.
I encourage business leaders across the Commonwealth to consider being one of the first businesses to take advantage of this fantastic opportunity. This tax credit will be good for your employees and your business, and it will help empower the next generation of our workforce to embark on the training and education they’ll need to keep Pennsylvania competitive.
Stacy Garrity, a businesswoman and retired U.S. Army Reserve Colonel, is the Pennsylvania State Treasurer. As Treasurer, she is the custodian of more than $150 billion in state assets and leads the efforts to return more than $4.5 billion in unclaimed property to Pennsylvanians. She also oversees Treasury’s savings programs, including the PA 529 College and Career Savings Program, Keystone Scholars, and PA ABLE. Learn more at patreasury.gov.
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Founded in 1916, the Pennsylvania Chamber of Business and Industry is the state's largest broad-based business association, with its membership comprising businesses of all sizes and across all industry sectors. The PA Chamber is The Statewide Voice of BusinessTM.
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Making Economic Growth a Priority
Source: U. S. Chamber of Commerce
Today, many Americans do not feel like the economy is working for them. They’re feeling the burden of rising prices, homeownership seems increasingly out of reach, and the government is drifting further down the path of unsustainable debt and deficits with no clear plan to correct course.
To create the future we want, and the next generation deserves, we call on candidates and elected officials to pursue policies that will significantly boost America’s growth.
Economic growth is not just a static number on a chart. It is a snapshot into the lives of everyday people—the value of their efforts, their ability to provide for themselves and their families, the belief that their children’s lives will be better than their own. It is the driving force that powers the American Dream, where individual effort can lead to upward mobility regardless of one’s position on the socioeconomic spectrum. Sustained economic growth enhances the overall quality of life for all, increases incomes, expands opportunities, fosters innovation, and strengthens our nation.
The benefits of growth are clear, but the path to renewed growth is too often overlooked. At the U.S. Chamber of Commerce, we believe America needs a growth and opportunity imperative—a national priority, driven by people through innovation and productivity and fostered through sound public policy.
Synopsis
Many of the tailwinds that helped sustain rapid economic growth from 1950 to 2010 have dissipated. At the very time we need faster sustained growth to help solve problems, we face a future where growth will be dramatically slower. Going forward, public policy will play a decisive role in ensuring America can continue to grow and prosper, creating more and better opportunities for Americans.
The U.S. Chamber of Commerce is calling on all candidates and elected officials to embrace the Growth and Opportunity Imperative, establishing a goal of at least 3% economic growth annually and prioritizing policies that will support faster-sustained economic growth.
To inform policymakers, the Chamber will release a series of memos outlining the policies that can help support the growth the American people deserve.
What We Mean by Growth
This memo discusses economic growth in terms of the increase in real (inflation-adjusted) gross domestic product (GDP). What this economic statistic really represents is the increase in the quantity and quality of the goods and services that a country produces that improve our quality of life and standard of living.
The Slowdown in Economic Growth
From 1950 to 2010, real economic growth in the United States averaged 3.4% a year, even with recessions.
- As a result, the 2010 economy was seven times larger than the 1950 economy.
- The population of the U.S. also grew during this period, but the economy grew faster. Real per capita GDP was more than three times larger in 2010 than in 1950.
Since 2010, growth has averaged just 2.2% a year.
The nonpartisan Congressional Budget Office projects even slower growth, averaging just 1.8% for the next decade.
Much of the slowdown is attributed to the decline in tailwinds, which had supported faster economic growth:
- In the 1950s, in the aftermath of World War II, while the rest of the world was rebuilding, America was able to convert its vast military production into domestic manufacturing production. This burst of economic activity supported rapid growth.
- Since then, our economy has matured into a more service, technology, and innovation-based economy.
- In the 1960s, the baby boomer generation began entering the workforce and continued to do so through the early 1980s, leading to a rapid expansion of the labor pool.
- With the youngest baby boomers now reaching the age of 60, most of this generation has exited the workforce.
- Beginning in the 1960s and continuing through the 1990s, there was a dramatic increase in the number of women in the workforce, with female labor force participation jumping from 38% in 1960 to 60% in 1999.
- Today, female labor force participation is 57%.
Why Growth Matters
Faster Growth Is Essential to the American Dream
A big part of the American Dream is the idea that our children will be better off than we are, and our grandchildren will be even better off than their parents. Our ability to substantially improve our lives depends, in part, on how quickly the overall economy is growing. It is much easier for our slice of the pie to get bigger when the overall pie is also getting bigger.
Sustained economic growth provides a foundation for broad-based prosperity by expanding opportunities, increasing incomes, fostering innovation, and enhancing the overall quality of life for individuals and families. It is a critical driver in reducing poverty and creating a society where everyone has a chance to thrive.
- When our economy is growing at 3%, someone who is born today will see America’s economy double in size by the time they are in their early 20s.
- At 2% growth, it will take until they are in their mid-30s for the economy to double.
Faster Growth Provides Us with More Choices at Lower Prices
Real economic growth not only expands wages and income (enabling us to afford more of the goods and services we need and want) but also boosts production, giving us more choices at lower prices. The result is a higher standard of living. For example:
Shopping for Children’s Shoes
- In 1980, if you wanted to shop from home, say for children’s shoes, that most likely meant the 1,566-page Sears Spring / Summer Catalogue, where you would find about 15 styles of children’s shoes ranging in price from $8.99 to $25.99. At the median weekly earnings of $269 and average hours worked, it would take two hours of work to pay for a $15 pair of shoes.
- On Amazon right now, you can find over 20,000 options with prices as low as $4 and as high as over $200. A $15 pair of shoes today would require less than a half-hour of work at the median wage and average hours worked.
Buying a Cell Phone
- In 1983, the first commercially available handheld cellular phone (the Motorola DynaTAC 8000x) hit the market at $3,995. At a median weekly salary of $316, it would have taken you nearly 13 weeks to buy a cell phone. (Music player, map, address book, calculator, etc., not included.)
- Today, you can buy an iPhone 15 for $799. At today’s median weekly salary, that would require less than a week of work to earn.
Purchasing a New Car
- In 1992, the lowest MSRP for a Toyota Camry was $14,368, and it got 21 miles to the gallon. At the median weekly wage of $443, it would take just over 32 weeks of work to earn enough to pay for the car.
- Today, the lowest MSRP for a 2024 Camry is $26,420, and it gets 32 miles to the gallon. At today’s median wage, it takes just over 23 weeks of work to pay for a new car.
Faster Growth is Essential to Taming Rising Federal Debt
Persistently high deficits and the growing federal debt are rightfully a concern. While fiscal policies are key to stabilizing our growing debt, economic growth will also play a critical role.
Increasing productivity such that we increase economic growth by just a half a percentage point a year, from 2% to 2.5%, would by itself decrease the federal deficit by $1.2 trillion over the next 10 years.
- The opposite is also true: If productivity is less than expected under current economic assumptions and the economy grows at just 1.5% on average, that by itself would increase the deficit by $1.2 trillion.
The Role of Public Policy and a Pro-Growth Goal
When an economy has strong tailwinds, it can grow rapidly despite bad public policy. When those tailwinds disappear, public policy plays a critical role in maximizing opportunities for growth.
To grow America’s economy and create better opportunities for Americans, we need policies that:
- Support a larger and more skilled workforce.
- Support investments in innovation and cutting-edge technology and the private-sector deployment of those innovations to improve productivity.
- Embrace the economy of the future, rather than trying to recreate one of the past, and give the private sector the certainty to plan, invest, and grow.
To properly orient these policies, we need a goal and a test. The U.S. Chamber of Commerce is calling on elected officials and candidates to embrace a goal of at least 3% annual real growth over the next decade—a 50% increase over current projections—and to use that goal as a test against which policies are judged.
A Pro-Growth Agenda
The advantages of achieving growth are evident, yet frequently, the route to revitalizing growth is neglected. Finding a way to increase growth should be the key focus of all policymakers. Through the November elections and beyond, the Chamber will outline policies that will help us reach the goal of 3% annual real economic growth.
Forthcoming memos will help you and your staff see how policy decisions in these critical areas can help accelerate the economic growth that will improve the lives of your constituents and create a brighter future for us all.
Coming Soon:
- Taxes
- Trade
- Immigration and Workforce
- AI
- Skills
- Regulations
- Antitrust
- Energy
- Federal Debt
- Legal Environment and Rule of Law
- Labor and Workforce
- Permitting
- Capital Markets
- Intellectual Property
- Infrastructure
- Housing
- Maintaining our National Economic Union
- Free Enterprise
About the author
Neil Bradley is executive vice president, chief policy officer, and head of strategic advocacy at the U.S. Chamber of Commerce. He has spent two decades working directly with congressional committee chairpersons and other high-ranking policymakers to achieve solutions.