TROUT RUN, Pa., March 18, 2011 /PRNewswire-USNewswire/ -- Governor Tom Corbett today toured Nu-Weld, Inc., a complete gas well service company in Trout Run, highlighting his commitment to growing the commonwealth's economy and helping businesses create jobs for hardworking Pennsylvanians.
"My budget is a commitment to Pennsylvania's workers. It supports our future by making sure workers, whether they own their business or work for someone else, have a share in the economy we are looking to build," said Corbett.
Corbett's proposed budget contains no tax or fee increases and cuts government spending by 3 percent, most of which is done by consolidating programs, targeting inefficiencies and reducing or eliminating discretionary financial grants.
The budget refocuses and streamlines the state's support of free enterprise by supporting programs that will encourage economic growth and job creation, streamlining a multitude of business incentive programs and awarding tax credits as incentives for new and creative ideas to improve business and industry.
"My budget is targeted to real growth, job creation in the private sector, a lean-but-agile Department of Community and Economic Development, and a tax structure that doesn't scare off new industries," said Corbett. "It supports programs such as the Job Opportunity Grant Program, Job Creation Tax Credits, and the Liberty Loan Fund. Where the state can help, we're here to help. Where we can keep out of the way and give places like Nu-Weld a running start, we're here to shout 'go.'"
Tim and Marilyn Satterfield started Nu-Weld Inc. in their garage with only a couple of employees. Today the company has grown to encompass 150 employees and $24 million in sales due to the Marcellus Shale boom. Most of this growth has come in the last two and a half years and spurred the Satterfields to open a second shop in Bradford County to handle the increased volume of business.
"With the Marcellus Shale development, Nu-Weld's business has grown from $7.7 million to $24 million in only two years. That's precisely the kind of job-creating wealth Pennsylvania needs," said Corbett.
Visit www.pa.gov to learn more about Gov. Corbett's proposed budget.
Media contact: Kelli Roberts, 717-783-1116
SOURCE Pennsylvania Office of the Governor