On today’s episode of The Confluence: With a new governor and state representatives, we discuss what business leaders are hoping legislators prioritize in the coming session; food costs have been rising over the last year, and we check in with the Greater Pittsburgh Community Food Bank about how they’re supplying families for the holidays; and a regional startup funder gives their take on how businesses will fare in the current economic downturn.
Today’s guests include: Matt Smith, president of the Greater Pittsburgh Chamber of Commerce; and Chris West, director of community connections at the Greater Pittsburgh Community Food Bank.
Chamber of Commerce wants lawmakers to prioritize tax, regulatory updates
(0:00 - 9:07)
Inflation and the economy were cited often as top issues of concern for voters in this month’s election. With a new incoming governor, a new U.S. Senator from Pennsylvania, and a Democratic-controlled state House, what are businesses hoping politicians prioritize in the upcoming session?
“Certainly a divided government presents challenges, but it also presents opportunities,” says Matt Smith, president of the Greater Pittsburgh Chamber of Commerce. “Just over the last couple of years, we've been able to work with both sides of the aisle to get really monumental legislation done.”
Smith cites the PA EDGE tax credit program and Act 53 to reduce the corporate net income tax over the next eight years, as bipartisan wins for the business community. He says getting the state’s tax and regulatory structures “in order” will make Pennsylvania more attractive for businesses and competitive against other states.
Greater Pittsburgh Community Food Bank is experiencing more calls for assistance, and high food prices
(9:13 - 17:02)
The price of food eaten at home has increased 12.4% over the last year, according to the Bureau of Labor Statistics. This means families who are already living on tight budgets have been forced to either forego items or look elsewhere to supplement grocery lists. With Thanksgiving days away, the price tag might be putting a damper on the holiday.
The Greater Pittsburgh Community Food Bank has been helping families make ends meet, especially during the holidays.
“Just one example to give you is from seniors. Multiple seniors have told us that they're skipping doctor's appointments, they're not filling prescriptions, which is really concerning,” says Chris West, director of community connections and collaborative learning at the Greater Pittsburgh Community Food Bank. “They're doing that because they're trying to make ends meet and get the things they need to get. So that's where the food bank comes in, to make sure that folks can have food and have money left in their pocket to buy the things they need to buy.”
West says from January to September of this year, compared to January through September of last year, the Food Bank saw calls for assistance increase by 83%.
The Food Bank has been able to ramp up its distribution, says West. In September of this year, the Bank distributed 800,000 more pounds of food compared to last year, a 33% increase.
Can Pittsburgh’s startup ecosystem thrive in a shifting economy?
(17:00 - 22:30)
The nonprofit, Innovation Works, has given more early-stage funding to startups in the Pittsburgh area than any other investor. A venture capitalist from New York now leads the organization located in the North Side.
Ven Raju became CEO in October and he spoke recently with 90.5 WESA’s An-Li Herring about what he’s observed about Pittsburgh’s innovation economy and recent challenges in the sector. Raju began by noting that, in the last decade, investment in Pittsburgh tech firms has increased tenfold.
The Confluence, where the news comes together, is 90.5 WESA’s daily news program. Tune in Monday to Thursday at 9 a.m. and 7:30 p.m. to hear newsmakers and innovators take an in-depth look at stories important to the Pittsburgh region. Find more episodes of The Confluence here or wherever you get your podcasts.
