SPOTLIGHT ON BUCKS | WEHRUNG'S

Third-generation Businessman Seizes Opportunity, Wehrung’s Lumber & Home Center

An entrepreneur seems to find opportunity in any situation. For Jason Wehrung, President of Wehrung’s Lumber & Home Center, opportunity has been found in the family lumberyard, in a stint at a fast food restaurant, and even in the ashes of a lumberyard fire. Jason Wehrung leads our choice for Entrepreneur of the Year in the category of $10 million to $50 million in sales. During his seven-year tenure with his family business, the company has tripled in size, growing from one to three locations in eastern Pennsylvania, including two lumber and home centers as well as a full-service lumberyard.

Jason has led the Wehrung’s businesses through an acquisition of another area hardware dealer, as well as a significant remodel of the company’s flagship location. He has also significantly expanded the company’s customer base with a renewed focus on retail and DIY customers through a rental service and flooring installation.

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NOTEWORTHY NEWS | BCEDC ANNUAL DINNER

BCEDC Annual Dinner Sponsorship Opportunities

BCEDC’s 60th Anniversary Annual Dinner will take place this year at Spring Mill Manor in Ivyland, PA.

This year’s guest speaker is Dick Vermeil, legendary coach of the Philadelphia Eagles.

Date & Time: April, 25, 2018

Location: Spring Mill Manor, 171 Jacksonville Road, Ivyland, PA

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NOTEWORTHY NEWS | KIZ TAX CREDIT

KIZ Tax Credit Program Approved 

Governor Tom Wolf announced the approval of Keystone Innovation Zone (KIZ) tax credits for 273 early-stage companies, representing the Wolf Administration’s commitment to Pennsylvania’s technology sector.

“Fostering an environment that allows technology and innovation to flourish in our private sector is one of this administration’s top business priorities,” Governor Wolf said. “By providing these tax credits, we’re helping to reduce the burden placed on companies as they go through the early stages of growth, thereby helping new ideas take root while pushing both our economy and the thriving tech sector forward.”

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THE BOTTOM LINE | “ME TOO” / “TIME’S UP”

“Me Too” / “Time’s Up” Movement – Is Your Organization Prepared and Responding Appropriately?

Just about every day there is a new story in the media about high profile politicians, celebrities and executives across all industry sectors involving claims of sexual harassment or sexual assault. Conversations about the “Me Too” and “Time’s Up” movement have moved from TV and social media to the workplace. How many of your employees are pondering their past and present “Me Too” situations?

CCI Consulting, a BCEDC member and a full service HR Consulting firm, has seen a very significant uptick in sexual harassment and assault claims reported to HR and through Employee Hotlines. In addition, we are hearing that conversations on the topic are on the increase in coffee clutches, at the water cooler…and even dare we say on social media platforms. Sexual Harassment and Respectful Workplace are now significant topics of concern and focus for employers of all sizes, from small to large, throughout Bucks County, the Delaware Valley and the country. 

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FINANCIAL TOOLBOX | ABA TESTIFIES

ABA Testifies on Small Business 7(a) Lending Bill

The SBA 7(a) Loan Program is an example of how bank lending promotes economic growth and should be vigorously supported in the future, according to testimony from the American Bankers Association before the House Small Business Committee today.

Patricia Husic, president and CEO of Centric Bank in Pennsylvania, testified on behalf of ABA. In her testimony, Husic, who also serves on ABA’s board of directors, stressed the importance of SBA programs to both banks and small businesses.

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FINANCIAL TOOLBOX | DCED INTEREST RATE

DCED Interest Rate for the first Quarter of 2018 

For real estate loans financing eligible land and building costs, borrowers will have the following interest rate options:

For term loans with a regular amortization:

  1. Fixed interest rate for the full term of the loan (up to a 15-year period), set at the current ten-year treasury yield + 100 basis points. Based on the current ten-year treasury yield, the fixed rate option is 3.50% for the life of the loan.
  2. Fixed interest rate for a seven year period set at the ten-year treasury yield. After seven years, the rate will reset to the then-current ten-year treasury yield. Please note, the reset rate is limited to a 200 basis point increase/decrease. The reset rate is then fixed for the duration of the loan. Based on the current ten-year treasury yield, the rate for the initial seven year period is 2.50%.
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BUCKS COUNTY INTERNATIONAL TRADE COUNCIL | BCITC

Bucks County International Trade Council Advises ESCA Industries

The Advisory Team of the Bucks County International Trade Council (BCITC) met with Jeff Paduano, president of ESCA Industries of Hatfield, PA this January.  ESCA Industries is a leading manufacturer and turn-key supplier of all types of blasting and special cleaning equipment for commercial and industrial use. 

The BCITC Advisory Team is made up of seasoned experts in various functional areas of international business and meets with regional companies interested in expanding their business to new global markets through monthly Case Studies. The team was pleased to meet with Jeff and hear about the success of his business, his goals for international expansion, and then provide suggestions and advice to help him advance toward those goals. 

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COMPANIES ON THE MOVE

Interline Brands, Home Depot’s professional building and repair division, has been a long-term tenant in Lower Bucks County. The company needed additional space in the market, but the low inventory of warehouse space provided few space options. 

Larry Bergen and Andy McGhee of Colliers International represented the landlord, The Guilford Glazer Trust, in negotiations to quickly lease 125,178 square feet at 905 Wheeler Way in Langhorne (above).

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BCEDC BUSINESS HAPPENINGS

Rushabh Instruments, LLC (RI) was founded in 2001 to design and manufacture medical laboratory and medical therapeutic products. RI has been approved to borrow $199,900 from PIDA-SBF funds. The borrowed money will be used to purchase a larger building to expand RI’s product lines. The building is in Warminster, Northampton Township. RI will retain three employees and create two new jobs.

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STRATEGIC EARLY WARNING NETWORK | SEWN

Are You an Innie or an Outie?

One common issue we deal with at SEWN is working with manufacturers to broaden their client base. Whether you are a machine shop, a medical device manufacturer or a print shop, the one thing that you need is a broad client base. 

The one thing that you do not have is the time to cultivate that base on a client-by-client basis.

A strategic marketing plan will help you cultivate new customers while maintaining current clients, all without requiring you to spend your every waking hour at work.

Basically, you have two options when it comes to marketing – Inbound and Outbound. Inbound marketing pulls clients into your space. Outbound marketing pushes your company’s name into your client’s space. 

Inbound marketing is relatively inexpensive. Outbound marketing can become quite costly, buying advertisements in newspapers and magazines, creating commercials, attending trade shows.

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LOCAL CHAMBERS’ EXCHANGE | LBCCC

Lower Bucks County Chamber of Commerce Recognizes Penn Community Bank with Economic Impact Award 

Penn Community Bank is proud to announce that it has been honored with the Economic Impact Champion of Commerce award presented by the Lower Bucks County Chamber of Commerce. The annual award was presented at the Chamber’s 2017 Champions of Commerce event on Nov. 30 at the Pen Ryn Estate on the Delaware in Bensalem.

The Lower Bucks Chamber recognized eight exceptional individuals, businesses and organizations, including Penn Community Bank, in its signature 2017 Champions of Commerce Awards. The Chamber’s selection committee, which included some of the area’s most accomplished business professionals, received numerous nominations of businesses and individuals who are “Making a Difference Where We Work, Live and Learn.”

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LOCAL CHAMBERS’ EXCHANGE | GBMCC

The Greater BucksMont Chamber of Commerce (GBMCC) Annual Scholarship Golf Outing is Now Being Planned! 

SAVE THE DATE: JUNE 7, 2018

If you sign up now to be a sponsor, you will be included in our printed marketing materials!  This is the best advertising opportunity of the Century - you will be listed in our marketing materials and you will featured in our upcoming golf website. Most important - YOU WILL BE DOING SOMETHING WONDERFUL FOR YOUR COMMUNITY. Don’t waste any time - this is a great opportunity for you!

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LOCAL CHAMBERS’ EXCHANGE | CBCC

BUCKS FEVER TALENT SHOW

March 8, 2018

Time: 7:00 to 9:00 p.m.

Location: New Hope Winery, 6123 Lower York Road, New Hope, PA 

Talent Show, produced by the Chamber’s Young Professionals Committee, showcases top area talent. 

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LOCAL CHAMBERS’ EXCHANGE | UBCC

Metalworking program to launch at BCCC Perkasie Campus

A successful pilot class launching in Upper Bucks aims to meet employment needs and address a growing skilled labor shortage in regional manufacturing.

Bucks County Community College will launch the first Metalworking Training Program Feb. 26, with the goal of duplicating its successful 12-week program located at the Bristol campus.

In partnership with Upper Bucks County Technical School, in Bedminster Township, hands on practical training will take place at the career and technical school campus. The Metalwork Training Program includes theory and hands on skills assessment, and introduces participants to the fundamental concepts and skills required to be a machinist in the field of advanced manufacturing. A participant can earn eight stackable credentials in 12 weeks to prepare for entry-level positions in manufacturing and will receive a certificate of completion, plus OSHA10 and Forklift Safety Training certification, and sit for the National Institute for Metalworking Skills (NIMS) exam for Measurement, Materials, and Safety Certification.

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MEMBER’S CORNER | NAI MERTZ

NAI Mertz’s Zena Charokopos Inks Lease for Access Services at Butler Commons Office Center in Plymouth Meeting, PA.

NAI Mertz, a leading full-service commercial real estate firm conducting business throughout the United States, and globally, from its regional offices in New Jersey, greater Philadelphia and northeastern Pennsylvania, announced Zena Charokopos recently completed a 6,874-square-foot lease on behalf of her client, Access Services, at 4070 Butler Pike, Plymouth Meeting, Pa. This is the fifth transaction that Charokopos has completed for Access Services in Bucks and Montgomery Counties.

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MEMBER’S CORNER | CARROLL ENGINEERING

Carroll Engineering Corporation Announces New Traffic and Transportation Department Manager James A. Graham III, P.E., PTOE

Carroll Engineering Corporation welcomes James (Jamie) A. Graham III, P.E., PTOE as Traffic and Transportation Department Manager. Mr. Graham has 18 years of engineering and project management experience, specializing in all aspects of traffic engineering and roadway design. His experience includes all phases of project development from feasibility studies to final construction. Jamie is a licensed Professional Engineer in Pennsylvania, New Jersey, and Maryland and a Licensed Professional Traffic Operations Engineer.

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