The business climate of Punxsutawney has undergone several positive changes in the past 10 years. Indiana University of Pennsylvania has transformed the Punxsutawney Regional Campus into a modern facility and rehabilitated a century-old building in the Downtown to house its Academy of Culinary Arts Baking Program. Two new apartments for senior citizens have opened. In addition, the Area Transportation Authority (ATA), has opened new bus terminal in the Downtown. The terminal is not only a transportation hub for the regional bus service, but also offers retail and office space for lease. 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.
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 in the borough of Punxsutawney stands at just over 5,800. Including the townships surrounding the town, the population of the greater Punxsutawney area is close to 20,000.
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 $55.43 per person per day.