Governor Rendell Warns Against Drastic Budget Cuts by Senate Republicans for State’s Top Two Industries
HARRISBURG– Despite the national recession, Gov. Edward G. Rendell stressed the importance of investing in key industries, as he announced nearly $5 million in loans and guarantees for 17 agriculture and tourism projects in 13 counties.
The Governor said investing in these two industries, which support approximately 1.4 million jobs in the state, is essential because doing so positions each sector to grow as the economy rebounds. The budget Governor Rendell proposed in February institutes difficult cuts, but still provides crucial investments that will help each industry to expand.
He warned that a proposed budget by Senate Republicans would cripple agriculture and tourism by cutting $14.5 million from what the Governor proposed for programs that aid the industries. The Senate’s plan would cut funding to the Department of Agriculture by nearly $9 million and support for tourism marketing programs by $5.5 million.
“The commonwealth remains committed to supporting our two largest industries: agriculture and tourism,” said Rendell. “Pennsylvania, like the rest of the nation, is experiencing tough times because of the recession. That makes this exactly the wrong time to completely abandon key industries that help to put food on our tables, bring hundreds of millions of dollars into the state, and keep our people working. We must continue to invest in these industries in a prudent manner so that when the economy turns around, we’re in a position where we can emerge stronger than ever.
“This $4.9million investment, which will leverage an additional $14.7 million in private funding, does that. Investing in these projects will help to encourage job growth and expansion in Pennsylvania’s rural communities.”
The Commonwealth Financing Authority, or CFA, approved the loans and guarantees at its May 13 meeting. The funding will help farmers with land, livestock and new equipment purchases, and finance the construction on a project that will help attract tourists.