Economic Profile
Growth
The business climate of Punxsutawney has been undergone several positive changes since 2002 with the opening of a Wal-Mart Supercenter and retail plaza on the outskirts of the town. Since then, several new retail outlets have opened. In addition, the Area Transportation Authority (ATA), in conjunction with the borough of Punxsutawney, is developing a new bus terminal in the Downtown. The terminal will not only be a transportation hub for the regional bus service, but will also offer several retail and office spaces for lease. The development is expected to open in spring 2010. Contact ATA for information on the available space at 814-965-2111.
Industrial and commercial growth in the greater Punxsutawney area are encouraged and supported by borough and township governments, the Chamber of Commerce, the Punxsutawney Regional Development Corporation, the Jefferson County Department of Development, North Central Pennsylvania Regional Planning and Development Commission, and the Pennsylvania Small Business Development Centers at Clarion University and IUP.
Trade Area
Local market research shows that, on average, Punxsutawney businesses attract and serve customers from a 40-mile radius. The area's largest employers, Punxsutawney Area School District and Punxsutawney Area Hospital, draw employees from communities as far as 50 miles from the town.
Population
Population in the borough of Punxsutawney stands at just over 6,200. Including the townships surrounding the town, the population of the greater Punxsutawney area is close to 20,000.
Tourism
In addition to the local and regional markets, yearly tourism brings visitors from across the nation and around the world to the home of Punxsutawney Phil, the famous weather-forecasting groundhog. Estimates, which include the large influx of visitors on Groundhog Day, indicate that approximately 10,000 - 30,000 tourists visit the town throughout the year. According to the regional visitor's bureau, Northwest Pennsylvania's Great Outdoors, visitors to the region spend an average of $47.30 per person per day.
