IFO Releases
County Income Patterns 2019 to 2022
September 09, 2024 | Economics and Other
This annual research brief uses the latest published data to generate maps and rankings of county demographic and income trends. The release highlights population change, personal income growth, shares of transfer income and per capita amounts for all counties in the Commonwealth.
Natural Gas Quarterly Update: 2024 Q2
September 05, 2024 | Energy
This document uses data from the Pennsylvania Department of Environmental Protection, the U.S. Energy Information Administration and Natural Gas Intelligence to provide a quarterly update on recent trends in production volume, well counts and average spot prices.
August 2024 Revenue Update
September 03, 2024 | Revenue & Economic Update
The Commonwealth collected $2.93 billion in General Fund revenues for August, an increase of $33 million (+1.1%) compared to August 2023.
Monthly and Quarterly Revenue Estimates
August 23, 2024 | Revenue Estimates
This report provides revenue distributions based on the FY 2024-25 projections contained in the Official Revenue Estimate published by the IFO on June 20, 2024 and the statutory changes that were enacted with the FY 2024-25 state budget.
2022 Property Tax Burden by County
August 21, 2024 | Property Tax
This research brief uses (1) income data from the Bureau of Economic Analysis and the Internal Revenue Service and (2) property tax data from the Pennsylvania Department of Education and Department of Community and Economic Development to estimate county-level property tax burdens on homeowners and renters across the state for 2022.
The brief was updated on September 6, 2024 to address a technical correction.
July 2024 Revenue Update
August 01, 2024 | Revenue & Economic Update
The Commonwealth collected $2.99 billion in General Fund revenues for July, an increase of $110 million compared to July 2023.
General Fund Surplus Likely Depleted Next Year
July 18, 2024 | Economics and Other
This research brief uses the recently passed state budget for FY 24-25 to update deficit estimates for the current and subsequent fiscal year.
Corporate Rate Reduction and Higher NOL Cap
July 17, 2024 | Economics and Other
This research brief examines two recent provisions that reduce corporate net income tax liability: a lower tax rate and a higher net operating loss (NOL) deduction threshold. The provisions significantly reduce corporate tax liability and will be phased-in through tax year 2031.
Stadium Economic Impact Report: Philadelphia Phillies
July 10, 2024 | Economics and Other
The IFO performed an analysis that measured the 2023 economic footprint attributable to the Philadelphia Phillies’ Major League Baseball (MLB) operations at Citizens Bank Park. The analysis finds that economic activity related to team operations and fan spending generated $970 million in statewide spending, supported 5,400 full-time equivalent jobs, and $45 million in state taxes.
Stadium Economic Impact Report: Pittsburgh Pirates
July 10, 2024 | Economics and Other
The IFO performed an analysis that measured the 2023 economic footprint attributable to the Pittsburgh Pirates’ Major League Baseball (MLB) operations at PNC Park. The analysis finds that economic activity related to team operations and fan spending generated $546 million in statewide spending, supported 3,000 full-time equivalent jobs, and $22 million in state taxes.