Without hesitation, indeed with great enthusiasm, economic development and business professionals in Schuylkill and Carbon counties unanimously agree that both the national and local economies are booming.

They also agree that the Tax Cuts & Jobs Act passed by Congress in 2017 is largely responsible.

“It absolutely is,” says Kathy Henderson, director of economic Development for the Carbon County and Economic Development. “People see it in their paychecks. Businesses are reinvesting and expanding, and they are hiring.”

In addition to the tax cuts and job act, Robert Carl, president and CEO of the Schuylkill County Chamber of Commerce, says the rolling back of regulations on business is another big reason for the economic boom.

“The previous administration put in place nearly 900 new regulations. Many times, regulations are put into effect without any understanding of their negative impact on business,” Carl said.

Both chamber professionals said that unemployment is at or near the lowest it has ever been in their respective counties. “It’s at 5.3 percent,” says Henderson. “That’s the lowest I can remember.”

Carl agrees. “In Schuylkill County we are in the high-fives. The outlook is brighter than it has been in a long, long time.”

Henderson and Carl both cite manufacturing as a sector that has really made a comeback.

“They’re doing very well and they are hiring,” Carl said.

He pointed to Solar Innovations in Pine Grove and Hydro in Pottsville as prime examples.

“Hydro employs more than a thousand people, and it is expanding.”

Both the local economy and the national economy could be even more vibrant if employers could find more employees.

“It’s a big problem,” Henderson says. “Employers need people with certain skill sets and education. Drug tests are also a problem.”

One area manufacturer reports that it has to reject 40 percent of potential new hires because of positive drug tests.

Jason Williams, CPA, of the accounting firm Kronick, Kalady & Berdy, says the JCTA is the biggest reason for the turnaround.

“The Qualified Business Income deduction is big and it affects all businesses, large and small. I have clients who have already taken the anticipated tax savings and paid bonuses to employees. Businesses are expanding.”

Ron Ulitchney, CPA and partner in the same firm, pointed to additional aspects of the tax reform legislation that are boosting the economy.

“The bonus depreciation — being able to deduct 100 percent of equipment and other capital investments in the first year — is helping businesses expand. The personal income tax cuts are helping, too. People are seeing it in their paychecks,” Ulitchney said.

The vibrant economy is also pushing wages up. Amazon recently announced that it is raising its starting hourly wage to $15 per hour for its Hazleton distribution center.

Carl sees that in Schuylkill County, as well.

“Even the distribution centers like Walmart and Lowe’s are raising their wages. They’re starting now around $15 or $16 per hour with benefits, with a lot of opportunity for advancement and wages over $20 per hour for those willing to work,” he said.

Real estate has long been viewed as a good indicator of the health of the economy. Justin Porembo, CEO of Greater Lehigh Valley Realtors, an association of 2,500 real estate professionals in Lehigh, Northampton and Carbon counties, reports that the market in all three of the counties the organization serves is strong.

“Inventories are stretched to the max,” Porembo said.

“The number of days that homes are on the market is declining. It’s the best market we’ve had in a decade.”

Porembo calls it a seller’s market and it has caused homes to appreciate in value.

“The average selling price for homes in Carbon County is up 13 percent over last year,” Porembo said.

Tax reform and deregulation are helping the real estate market both directly and indirectly he says.

“People are feeling more comfortable in their jobs. They don’t feel like their jobs are in jeopardy, so they are more comfortable buying a home.”

Businesses and developers can now move quicker to use land to build and expand because of the regulation rollback. Banking deregulation is helping, too, according to Porembo.

“Local banks, community banks are the ones that work with local builders. The regulations were stifling prior to the rollbacks,” he said.

The Lehigh Valley is also experiencing growth due to an influx of people moving out of New Jersey and into Pennsylvania. That growth is having a positive effect on Schuylkill County, Carl said.

“Schuylkill County is benefiting from the push north from the Lehigh Valley and up the 78 corridor.”

The one weakness Porembo sees in real estate is the number of first-time homebuyers.

“We are at a 50-year low. Millennials are not buying homes,” he said.

“We need to figure out a way to change that. Student debt is preventing many millennials from buying a home,” Porembo said.