Meadville, Pennsylvania – Today, Governors Action Team (GAT) Executive Director Brent Vernon visited Channellock Inc. In Meadville, Crawford County, see first-hand the results of the Wolf government’s investments in businesses during Pennsylvania Manufacturing Week. The celebration, which highlights the important role manufacturers play in making the Commonwealth the sixth largest economy in the United States, will take place on October 5. July 14-14, 2022, announced by Governor Tom Wolf.
“Channellock has been operating in this space for over a century,” Vernon said. “This company is the tenth largest employer in Crawford County and is a perfect example of how a manufacturer can be a cornerstone of our economy. As part of Manufacturing Week, I was honored to tour their operations and witness firsthand how the Wolfe Administration has Positive results from continued investment by Pennsylvania businesses.”
Founded in 1886 and based in Midville since 1904, Channellock manufactures over 130 different sizes and types of hand tools, including pliers, screwdrivers and wrenches. The company has more than 4,000 wholesale and retail customers in the United States and ships to more than 40 countries worldwide.
In 2019, Channellock received a $3.68 million funding proposal from the GAT to help build an additional 35,000 square feet of packaging and storage space, purchase and install new equipment, train existing employees and retain 360 locations in Crawford County jobs.
“Our warehouse expansion project has been greatly helped by the federal low-interest PIDA loan,” said Jon DeArment, Channellock, Inc. President and Chief Operating Officer. “The Commonwealth is also helping with other projects through the PIDA MELF program, including significant forging and heat treatment automation projects. Both represent significant investments in new technologies and innovations that will help us remain competitive.”
In 2022, Governor Wolf’s $4.42 million investment in GAT projects in Northwest Pennsylvania helps:
- 136 jobs were created with an average salary of $36,586.Of these jobs, 74% are in manufacturing and 26% are in food processing
- 175 jobs reserved
- Generated more than $42.7 million in private investment
Governor Wolf’s legacy of long-term job creation includes:
- 194,000 jobs created and retained through GAT since 2015
- Completed $430 projects and secured a total of $17.8 billion in private investment to support communities across the Commonwealth
- $396.3 million in state investment to support new and growing businesses, record $17.8 million in private investment, $476.15 million in new local taxes and $417.62 million in NSW taxes
- Every $1 invested in GAT programs brings $102 in private support to Pennsylvania’s communities and economy—a public-to-private ratio that’s $75 higher than it was during the Corbett administration
- Over 67% of jobs created through GAT over the past eight years were in manufacturing (in 2021 alone, over 84% of jobs were in manufacturing)
Key Facts About Pennsylvania Manufacturing
Manufacturing is at the heart of Pennsylvania’s economy:
- U.S. sixth-largest manufacturing industry by employment
- Gross Domestic Product (GDP) of $113.2 billion in 2021
- More than 562,700 employees (approximately 9.5% of all private sector jobs in Pennsylvania)
- 14,000+ manufacturing facilities
Manufacturing provides high-paying, family-supporting jobs in Pennsylvania:
- Manufacturing workers earn 33% more than the state’s average for other nonfarm businesses
- The median salary in manufacturing in Pennsylvania is $86,129, including benefits
As part of Pennsylvania Manufacturing Week, DCED will visit local manufacturers in every region of the Commonwealth, including upcoming Huntington, Lucerne, Northumberland, Westmoreland and Wyoming counties.
For more information on Manufacturing Week, visit the DCED website, Facebook, Twitterand LinkedInand be sure to talk about your manufacturing company on your social media using the hashtags #MFGWeek22, #IMakeInPA, #MadeInPA and #PASmart.
Governor Wolf is a leader who has always served the people of Pennsylvania. Learn more about how his priorities in Pennsylvania drove the Commonwealth’s comeback, putting Pennsylvania in a much better position than when he arrived.
Penny Ickes, DCED, firstname.lastname@example.org