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Economy {{#invoke:Multiple image|render}}

"Sorry We're Open" - sign. West Chester

Pennsylvania's 2013 total gross state product (GSP) of $644 billion ranks the state 6th in the nation.<ref name=stategdp>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> If Pennsylvania were an independent country, its economy would rank as the 18th largest in the world. On a per-capita basis, Pennsylvania's per-capita GSP of $47,274 (in chained 2009 dollars) ranks 26th among the 50 states.<ref name=stategdp/>

Philadelphia in the southeast corner, Pittsburgh in the southwest corner, Erie in the northwest corner, Scranton-Wilkes-Barre in the northeast corner, and Allentown-Bethlehem-Easton in the east central region are urban manufacturing centers. Much of the Commonwealth is rural; this dichotomy affects state politics as well as the state economy.<ref>Appeals court races wrap up with focus on voter mobilization Archived June 18, 2010 at the Wayback Machine</ref> Philadelphia is home to six Fortune 500 companies,<ref name=F500>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref> with more located in suburbs like King of Prussia; it is a leader in the financial<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and insurance industry.

Pittsburgh is home to eight Fortune 500 companies, including U.S. Steel, PPG Industries, and H.J. Heinz.<ref name=F500 /> In all, Pennsylvania is home to fifty Fortune 500 companies.<ref name=F500 /> Erie is also home to GE Transportation Systems, which is the largest producer of train locomotives in the United States.

As in the US as a whole and in most states, the largest private employer in the Commonwealth is Wal-Mart, followed by the University of Pennsylvania.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}{{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= {{#invoke:Category handler|main}}{{#invoke:Category handler|main}}[dead link] }}</ref> Pennsylvania is also home to the oldest investor-owned utility company in the U.S.A, The York Water Company.

As of June 2014, the state's unemployment rate is 5.6%.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>


The first nationally chartered bank in the United States, the Bank of North America, was founded in 1781 in Philadelphia. After a series of mergers, the Bank of North America is part of Wells Fargo, which uses national charter 1.

Pennsylvania is also the home to the first nationally chartered bank under the 1863 National Banking Act. That year, the Pittsburgh Savings & Trust Company received a national charter and renamed itself the First National Bank of Pittsburgh as part of the National Banking Act. That bank is still in existence today as PNC Financial Services and remains based in Pittsburgh. PNC is the state's largest bank, and the sixth-largest in the United States.


{{#invoke:main|main}} Pennsylvania ranks 19th overall in agricultural production.<ref name=ag>Agricultural Census 2002 Archived April 14, 2008 at the Wayback Machine</ref>

It also ranks 8th in the nation in Winemaking.<ref name=PAwine>{{#invoke:citation/CS1|citation |CitationClass=web }}{{ safesubst:#invoke:Unsubst||date=__DATE__ |$B= {{#invoke:Category handler|main}}{{#invoke:Category handler|main}}[citation needed] }}</ref>

The Pennsylvania Department of Agriculture worked with private companies to establish "PA Preferred" as a way to brand agricultural products grown or made in the state to support and promote Pennsylvania products and locally-grown food.<ref>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref>

The financial impact of agriculture in Pennsylvania<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> includes employment of more than 66,800 people are employed by the food manufacturing industry; and over $1.7 billion in food product export (in 2011).


{{#invoke:main|main}} Casino gambling was legalized in Pennsylvania in 2004. Currently, there are nine casinos across the state with three under construction or in planning. Only horse racing, slot machines and electronic table games were legal in Pennsylvania, although a bill to legalize table games was being negotiated in the fall of 2009.<ref>[1] Archived August 18, 2013 at the Wayback Machine</ref> Tables games such as poker, roulette, black jack and dice were finally approved by the state legislature in January 2010, being signed into law by the Governor on January 7. Sports betting is illegal.

Governor Ed Rendell had considered legalizing video poker machines in bars and private clubs in 2009, since an estimated 17,000 operate illegally across the state.<ref>{{#invoke:citation/CS1|citation |CitationClass=news }}</ref> Under this plan, any establishment with a liquor license would be allowed up to 5 machines. All machines would be connected to the state's computer system, like commercial casinos. The state would impose a 50% tax on net gambling revenues, after winning players have been paid, with the remaining 50% going to the establishment owners.


The Pennsylvania Film Production Tax Credit began in 2004 and stimulated the development of a film industry in the state.

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