Autonomous Vehicle Law is Putting Pennsylvania in the Driver’s Seat of Opportunity, Innovation
Pennsylvania’s legislature recently put the Commonwealth in the driver’s seat of innovation and economic opportunity by sending a bill to Gov. Wolf’s desk that paves the way for autonomous vehicle development. In the final days of the 2021-22 session, the Pennsylvania Chamber of Business and Industry worked with state legislators on both sides of the aisle, the Governor’s office, and stakeholders, including those in the technology and insurance sectors, to finalize and advance legislation, House Bill 2398, introduced by Rep. Donna Oberlander (R-Clarion). This important legislation, now law, provides a regulatory framework for the testing and deployment of automated vehicle technology.
Over the past few decades, Pennsylvania has set the stage for tech investment and innovation, and autonomous vehicle technology has quickly become a trailblazing industry. This technology, which could largely only be conceptualized a decade ago, is now being deployed on roadways across America. Given the importance of logistics to Pennsylvania’s economy, the state cannot afford to miss out on further investment. Autonomous vehicles’ cutting-edge safety standards, emissions reductions, potential to mitigate traffic congestion, and opportunity for significant cost savings for fleets are making them more widespread.
Not only are these vehicles here to stay, but they are also expected to grow by leaps and bounds in the years to come. According to a Greater Pittsburgh Chamber of Commerce report, this sector is expected to grow into a more than $1 trillion global market by 2026 – and, the Pittsburgh region alone is estimated to capture 5,000 jobs and one percent of the global market growth, with a $10 billion impact. While the future looks bright, the industry has also faced challenges, including supply chain disruptions, high input costs, and – until recently – an uncertain regulatory environment.
For more information on this legislation, a long-awaited reduction in Pennsylvania’s second highest Corporate Net Income Tax, and much more, please contact Jon Anzur at (717) 720-5447.
Legislature smoothes the road for Innovation
