East Pittsburgh, PA
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March 1, 2024 7:49 pm

Over 11,000 new businesses started in 2021; 2022 might be even better

Credit: iStock

Jeff Fuentes Gleghorn

People in Pennsylvania are working hard to rebuild the economy by starting new businesses. The coronavirus pandemic forced many companies to close their doors for good, with food service and retail stores being the most affected businesses. Thankfully, the economy has been recovering nationwide over the last year, and Pennsylvania is no exception.

According to business formation statistics collected by the U.S. Census Bureau, Pennsylvania will have over 11,000 new businesses, according to new  business  applications submitted since February 2021. That is nearly 3,000 more new businesses than Pennsylvania’s average from 2010-2019. While the COVID19 pandemic meant that 2020 brought  a record low for new business formation, 2021 brought the state a record high number of business applications as the economy recovered.

This influx of new businesses will also get a boost from President Biden’s infrastructure bill, which is expected to provide Pennsylvania with an additional $18 billion in funding over the next 5 years. The money will help to repair roads, bridges, and other transportation projects, build out high speed internet, and ensure that clean, lead-free drinking water is available to everyone in the state. Governor Wolf said that the infrastructure bill would “support economic growth throughout the commonwealth, and provide stable, good-paying jobs for Pennsylvanians.”

As Pennsylvanians look ahead to 2022 and beyond, it seems like the 11,000 new businesses from the past year will only be the beginning of Pennsylvania’s recovery.