These graphs show the importance of foreign-owned companies to job creation in the Commonwealth. Foreign-owned companies tend to provide high wages because they are typically in high-tech, research-based industries. The presence of foreign-owned companies in a region may also attract other foreign firms, both within and outside of the same industry, ultimately creating more jobs for Pennsylvanians. (Brookings)

For the visualization, we define “foreign-owned companies” referring to the definition of “majority-owned U.S. affiliate” given by BEA (U.S. affiliate and Majority-owned U.S. affiliate). A foreign owned company is defined as a U.S. business enterprise in which there is foreign direct investment (FDI) and the combined ownership of all foreign parents exceeds 50 percent.

The FDI into Pennsylvania has been creating job opportunities in multiple industries, including manufacturing, wholesale trade, retail trade, information, finance and insurance, real estate and rental and leasing, scientific & technical services, and manufacturing industry takes the largest proportion among them.

Source: U.S. Bureau of Economic Analysis - Foreign Direct Investment

Vital information, processes, and connections are increasingly happening online, which students, workers, and businesses need to reach their full potential. Reliable access to high-speed broadband also reflects a place's ability to attract the most highly skilled workers or dynamic firms, especially with the rising trend of remote work.

Data Note:
The data represents the average broadband subscription rate across the counties comprising each PREP region.

The Inc. 5000 is an annually released list that tracks the 5,000 companies in the U.S. that are experiencing the highest revenue growth. Of those companies on the 2020 list, 188 are headquartered in PA.
The literature shows that high growth firms (defined as firms experiencing 20% or greater compound annual revenue grown over 3-years) are responsible for a significantly outsized contribution to economic growth and job creation. It also suggests that small, young, and knowledge-based firms are much more likely to achieve the levels of high growth seen on this list.
The Brookings Institute conducted an analysis and general endorsement of the list: https://www.brookings.edu/research/high-growth-firms-and-cities-in-the-us-an-analysis-of-the-inc-5000/

Data Source: INC 5000, Introducing the 5,000 Fastest-Growing Companies in America

Entrepreneurship
Number of companies appearing in the annual Inc. 5000 list of Fastest Growing Companies in America (top states by number of companies in 2020)

Utility patents per 100,000 residents by year by state, compared to the national average (selected states, 2015-2019)

The official FCC broadband definition is a minimum of 25 Mbps download and 3 Mbps upload.

Cable/fiber internet connection is used to define access to broadband, since these are the most commonly used and currently best two types of internet for a fast connection. Other technologies are less preferable due to slowness, instability, data caps, and latency.

This graph shows funds allocated to the Dept. of Community and Economic Development (DCED) from the state’s General Fund, by year. This is part of the annual budget proposed by the Governor and altered or approved by the General Assembly. The three DCED programs highlighted—the Ben Franklin Technology Partners, Manufacture PA, and Partnerships for Regional Economic Performance (PREP)—are central to fostering the Commonwealth’s entrepreneurial community and emerging technology companies, often providing necessary capital before the private market can feasibly be expected to step in.
Note re Small Business Assistance/PREP (red series): In FY 2011, Industrial Development Assistance Local Development Districts, Small Business Development Centers, and Industrial Resource Centers were consolidated into Partnerships for Regional Economic Performance (PREP).
Note re Manufacturing PA (green series): In FY 2017-18, the Manufacturing PA line item was created at $12M. That line includes the Industrial Resource Centers (IRCs). As a result of the IRCs being moved out of the PREP line item, coupled with the creation of a new program within the PREP line, the overall appropriation for PREP was reduced by $2M, but its programs were not negatively impacted.

Source: Pennsylvania Department of Community and Economic Development

Immigrants living in Pennsylvania are a key driver of the economy. They make up 7% of the state’s population, but about 10% of the entrepreneurs. They are also over-represented as workers and founders in the science and technology industries. The top countries of origin for Pennsylvania’s foreign-born population are India, Dominican Republic, China, Mexico, and Vietnam. (1)

(1) “Immigrants in Pennsylvania,” American Immigration Council, August 6, 2020. https://www.americanimmigrationcouncil.org/research/immigrants-in-pennsylvania.

The top ten venture capital firms in Pennsylvania by year by number of investments (2021)

The number of degrees/certificates awarded in STEM fields as a percent of the total number of degrees/certificates awarded in all fields (Pennsylvania)