"Today, we are continuing our effort to drive down the cost of doing business in Pennsylvania," Rendell said.
Overall, the decrease will average out to 8.6 percent per employer, which is in addition to a 5 percent discount businesses with Certified Workplace Safety Committees already receive on their workers' compensation premiums.
It is the third time in the last 4 years that Pennsylvania has reduced workers' compensations costs, according to Rendell. Reductions have totaled more than $200 million under his administration.
"Businesses have benefited from lower workers' compensation premiums in 3 out of the last 4 years, partly because our workplaces are safer," he said. "When there are fewer workplace accidents, the cost of doing business goes down and productivity goes up."
According to the state Insurance Department spokesperson, the new rates, which take effect in April, represent an overall decrease, but employers with poor safety records may still experience increases in their insurance premiums.