The Pennsylvania Economic Development Association (PEDA) is the statewide association of local, state, corporate and non-profit economic development professionals.
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Stories for Local Economic Development Stakeholders

Logo: York County Economic Alliance

The Pennsylvania Allies Program was designed for professionals working in roles that actively support economic development organizations (EDOs) and their efforts within PA communities. Through the provision of training for local stakeholders, they - along with their local or regional EDOs - will be well-positioned to take advantage of opportunities to jointly champion their communities. With this aim in mind, we're sharing the following story of an economic development success that was made possible because a number of community-minded individuals and organizations recognized the project's importance and committed themselves to working together through the processes necessary to achieve their vision.

A View from the Fastest Selling Real Estate Market in the Country

The Problem: In June 2023, the news website Stacker ranked the top 50 Metro areas based on the average length of listing on the markets, based on data from the real estate website Redfin. York County ranked first in the nation with an average listing of just five days. Nationally, for the same month, the average number of days on the market was 29. Headlines such as these confirmed anecdotal evidence that York County Economic Alliance (YCEA) was hearing from employers. York County’s existing housing stock is unable to meet present demand and the situation is stymieing efforts to recruit and retain York County’s workforce.


The Coalition: To address the problem, YCEA has convened a group of stakeholders including developers, public housing service providers, municipal and legislative officials, and representatives from trade groups in the construction and real estate industries to guide the York County Housing Needs and Conditions Assessment (the “study”).


The Process & Outcome: Phase 1 of the study (the report for which can be found at YorkCountyEAP.org) was completed earlier this summer and gathered data regarding the scope of the housing shortage. York County’s population grew by five percent from 2010 to 2020 and the number of households outpaced growth in the number of housing units over the 10-year period. Over the same period, new housing construction slowed dramatically compared to the period from 2000 to 2010. Before the Great Recession, the number of new construction housing permits issued each year averaged well above 2,000, peaking in 2005 with 3,064 housing permits issued that year. Since then, the number of new construction permits has not recovered. Until as recently as 2019, fewer than 1,000 new construction housing permits were being issued each year. This imbalance of supply and demand has caused prices to increase dramatically. Median home sale prices rose from $150,000 in 2010 to $245,000 in 2020 and the median home sale price is currently $270,000.


The second phase of the study is currently underway and is evaluating a range of policy solutions to ease pressure on the housing market. A follow-up report is expected to be issued later this year, but preliminary results include encouraging municipalities to ease zoning restrictions for accessory dwelling units to facilitate the infill within existing developed areas.

Recognition of Support: This Project was financed by a grant from the federal Department of the Treasury, under the administration of the Commonwealth of Pennsylvania, DCED.

About Pennsylvania Economic Development Association


PEDA's mission is to promote sound economic development policies, provide leading-edge economic development education and nurture an effective statewide economic development network to foster the economic growth of the Commonwealth.

 

PEDA's membership is comprised of local, county and regional economic developers, state government economic development employees, workforce development professionals, utility and transportation executives, industrial development authority directors, industrial and technology incubator operators, chamber of commerce executives, municipal directors of community and economic development, engineering and construction executives, economic development finance professionals, commercial and industrial developers, and local, county and state elected officials. For further information, visit www.peda.org.

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