BCEDC 60 Years! History in the Making

It’s all about Retaining and Creating Jobs!

This year, 2018, marks the 60th anniversary of Bucks County Economic Development Corporation’s continuous support and dedication to Bucks County’s thriving economy. The organization has been a vital part of the robust and changing business dynamic in the county since 1958, when a handful of county officials and business men and women made a commitment to Bucks County’s growth and prosperity.

BCEDC is an integral part of the growing and changing story that is Bucks County, by offering low-interest financing and creative packages to make business opportunities and healthy-wage jobs a reality for more people. 

Carl Wallnau was a BCEDC board member for 52 years and served as president 1968 and 1969. “I went on the board in 1964. At the time, we had $100,000 in seed money and one of the outstanding things we established was the Industrial Development Authority. It opened up a lot of financing that we could do,” said Wallnau of Newtown.

“You need money to create dreams,” Wallnau said.

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LIFETIME ACHIEVEMENT AWARD | Robert Steinhart

In the sixty years since its inception, the Bucks County Economic Development Corporation (BCEDC) has been dedicated to creating a vital and strong economic base through the preservation and creation of job opportunities for Bucks County. The linchpin in its success to fulfill its mission is the organization’s dedicated and talented volunteers. In recognition of their untiring efforts, we are presenting two Lifetime Achievement Awards as we mark our Diamond Anniversary of service to Bucks County and its residents.

It is an honor to present Mr. Robert B. Steinhart with the BCEDC Lifetime Achievement Award. Mr. Steinhart joined the corporation in 1983 and distinguished himself as an outstanding leader and dedicated volunteer. Robert served as president from 2008 to 2010 and remains an active member on our board of directors from 1993 and executive committee since 2000 to present. He has chaired numerous special committees over the years from strategic planning to relocation committee. His invaluable insights and commitment to excellence is evidence in the continued success of the BCEDC as well as other community-based organizations. 

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LIFETIME ACHIEVEMENT AWARD | Gerald Forest

This year’s second recipient started from humble beginnings, and had parents that hoped he would become a doctor. He wanted to purchase the first Honda Motorcycle franchise in North Jersey where he grew up. He and his parents settled on the Wharton School at the University of Pennsylvania, where he studied Economics and Statistics.

Strumming his guitar at the University of Pennsylvania with his roommate Vladimir Guerrero, Jerry often talked about owning a winery and making wine. That is also where he met his wife of 50+ years and had three children. During those early years he worked a few corporate jobs including Weyerhaeuser and General Foods.

Eventually he took a job in Bucks County and moved his family to Levittown. He began buying property in Buckingham in 1966 through 1986 totaling 42 beautiful acres and started planting grapevines. In 1973 he and Kathy received one of the first winery licenses in Pennsylvania. They were proud to produce a white, red and Rosé at the high price of $2.75 a bottle. In 1976, the Forests formed the Pennsylvania Wine Association.

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Secure the Lowest Electricity & Gas Rates with the BCEDC

BCEDC offers you a no cost, no obligation, reverse auction platform to help you secure the lowest energy rates in the market.

Electricity is a commodity, so as a consumer all you want is the lowest rates possible. The BCEDC can deliver the lowest rates via the hyper competitive reverse auction platform all at no risk to your business. 

Get the Lowest Possible Rate in 4 Easy Steps

  1. REGISTER ONLINE IN 2 MINUTES OR LESS
    With little more than your name and contact details, you can register for a Reverse Auction and we’ll take care of the rest – at no cost to you. You’ll no longer have to review and compare various quotes over days, or spend countless resources trying to save money on energy.

  2. SCHEDULE YOUR REVERSE AUCTION
    Your reverse auction can be scheduled to start as quickly as a few days after you register. We’ll accommodate your desired time frame and make adjustments to suit your schedule.

  3. WATCH ENERGY SUPPLIERS COMPETE FOR YOUR BUSINESS 
    Most Reverse Auctions take around 10 minutes from start to finish. While energy suppliers sweat it out to win your business, you simply watch as the rates fall and the savings opportunity grows.

  4. SELECT A SUPPLIER OR SCHEDULE ANOTHER REVERSE AUCTION
    When the auction ends, you may select a new supplier…or you may choose to not move forward. Either way, there’s no commitment until you sign a contract with the supplier that provides the greatest value.
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THE BOTTOM LINE | OFF-SITE WAREHOUSING

The Benefits of Off-Site Warehousing

Growing business leads to growing operations, this can eventually lead to lack of space at your facility. Your square footage, whether indoor or outdoor, is expensive to build and maintain, and needs to be purposed for the greatest return to your operation. If your long-term storage of idled machinery and equipment is getting in the way of expanding manufacturing or more critical high-turn warehousing, look into off-site warehousing as a solution.

Whether you’re an owner, contractor, manufacturer or equipment dealer, make getting the most out of every square-foot of your facility a part of your goals.

If you run a business and don’t have enough space to support your growing operations, off-site warehousing is a fantastic option to explore. Even if you have the space now, your business may require more square-foot storage in the future if you’re growing.

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FINANCIAL TOOLBOX | PIDA

Pennsylvania Industrial Development Authority Interest Rates - 2018 Second Quarter

The Pennsylvania Industrial Development Authority (PIDA) recently updated its interest rates for the quarter through June 30, 2018. As the Certified Economic Development Organization (CEDO) for Bucks County, BCEDC can work with prospective applicants and their financial institutions to prepare and submit applications for PIDA funding. Terms and rates vary depending on the type of business, the project, and the use of funds.

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FINANCIAL TOOLBOX | 504 PROJECTS

This New 25 Year Debenture Will be Made Available for 504 Projects

SBA Administrator Linda McMahon has announced that the U.S. Small Business Administration is offering a 504 Loan and the Debenture that funds it with a 25-year maturity. This new 25 year Debenture will be made available for 504 Projects that are approved on or after April 2, 2018.

The new 504 Loan term complements the 10- and 20-year 504 Loan and Debenture that have been available since 1986. Small businesses, the Certified Development Company industry and the third-party lenders have emphasized the need for an affordable, fixed-rate instrument with a term-to-maturity more closely resembling other longer term mortgages.

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BCEDC BUSINESS HAPPENINGS

Lyophilization Technology, Inc. (LTI) was approved to borrow $1,440,000 from PIDA thru BCEDC to purchase and renovate a 27,000 square foot building in Warwick Township. The building is located in a Keystone Innovations Zone (KIZ). The project with a total project cost of $2,995,000 will result in creating 13 new jobs and retaining 24 jobs.

LTI is a Contract Development & Manufacturing Organization (CDMO) focused on all aspects of lyophilization for preparation of health care products.

A PIDA loan thru BCEDC was approved for Home Healthworks, Inc. in the amount of $386,000 to purchase two condo units in Bristol Township.

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COMPANIES ON THE MOVE

Nappen & Associates signs two new leases in the Bonair Industrial Center in Warminster.

Hot Headz leased 10,300 sq.ft. in The Bonair Industrial Center. Hot Headz specializes in creating unique consumer products for the home and outdoors. Their items range from natural wellness to outerwear and intend to provide uncommon solutions to life’s everyday problems. We would like to thank Jim Gorecki of Fidelity Commercial Real Estate Alliance for his assistance in this transaction.

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STRATEGIC EARLY WARNING NETWORK | SEWN

Winners and Losers in a Tariff War

“A few hundred steel companies benefited, and a few thousand small metal manufacturers suffered” said John Shegda, President of the regional National Trade Metal Association (NTMA) and President of a Bucks County Company, Merion Medical. He was responding to a question about the recently enacted tariff on foreign steel. John added “Unfortunately, the same pricing relief given to producers of US Steel through the Tariff was not extended to the small companies relying on US steel for their products. Unless a remedy is provided that allows the tariff benefits to be shared with the downstream supply chain partners, these small companies will suffer.”

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MEMBER’S CORNER | MEET BCEDC’S NEWEST MEMBERS

Jaime Reichardt

Jaime Reichardt is Chair of the Sills Cummis & Gross State and Local Tax Practice. Mr. Reichardt helps companies not only identify potential compliance issues and tax reporting exposures, but also assists with identifying and securing pro-active refunds, tax credits or abatements, and other incentive opportunities.  Throughout the years, he has secured several million dollars in tax savings and economic development benefits. Mr. Reichardt’s practice also includes resolving state tax controversies and audits with various revenue departments across tax types, including corporate income tax, franchise and net worth tax, personal income tax, sales and use tax, gross receipts tax, local business privilege or earned income taxes, real and personal property taxes, and unclaimed property. 

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MEMBER’S CORNER | COMPASS SIGN

Compass Sign Creates a Unique Experience for Phillies Fans

Big things are going on at Citizens Bank Park. The Phillies are off to a great start this season and not just on the field. The Phillies and YDI (Baltimore) presented Compass Sign with a range of unique fan experience enhancements and an opening day deadline. The new Hall of Fame Plaza offers fans an exciting history of the teams success: retired number monuments, grand scale replicas of the Phillies’ World Series Championship Trophies and refurbished bronze plaques of Phillies Hall of Fame inductees.

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MEMBER’S CORNER | TRUMARK® FINANCIAL CREDIT UNION

TruMark Financial® Credit Union Launches Branding Initiative “Member Banking is Better Banking®

Earlier this Spring, TruMark Financial® Credit Union introduced a new branding initiative that aligns with its member-focused philosophy and aims to strengthen the credit union’s visibility in Southeastern Pennsylvania.

“Member banking is better banking®”, captures the theme of the initiative,” said Elizabeth Kaspern, TruMark Financial’s senior vice-president, chief retail services officer. “Everyone knows membership has its privileges. Everyone that banks with us is more than a customer, they are a member,” said Kaspern. Delivery channels to heighten awareness include television and radio commercials, billboards, and an updated easy-to-navigate website. The branding initiative reaffirms the credit union’s commitment to its members and the commercials boast that TruMark Financial likes a little competition.

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MEMBER’S CORNER | LLB GROUP

Huh? What a bogus e-mail, you don’t say…

A phishing e-mail is a bogus e-mail that is carefully designed to look like a legitimate request (or attached file) from a site you trust in an effort to get you to willingly give up your login information to a particular website or to click and download a virus.

Often these e-mails look 100% legitimate and show up in the form of a PDF (scanned document) or a UPS or FedEx tracking number, bank letter, Facebook alert, bank notification, etc. That’s what makes these so dangerous – Hey Kelly, 

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MEMBER’S CORNER | PROCISION BUSINESS BROKERS

Procision Business Brokers and Commercial Realty Adds a Vice President

Procision Business Brokers and Commercial Realty is proud to announce the addition of Marc Greisler as Vice President of Retail. As a well-established Commercial Real Estate professional, Marc brings vast experience in various Real Estate services, including investment sales, leasing, asset management, development and finance.

During his stellar career, he has specialized in Highway Commercial, Shopping Centers and NNN Investment Sales throughout the Mid-Atlantic region and nationally. With a large and stable client base of high net worth individuals, private equity, and institutional investors, Mr. Greisler has developed a proven track record of success and is a go to resource in the marketplace. 

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The Beechtree Enterprises Workshop

Let Us Be Your Subcontractor!

We offer the following services to meet your business needs:

Assembly, Packaging & Repackaging, Sorting & Collating, Heat Sealing, Shrink Wrapping, Labeling, Pricing/Tagging, Inserting Materials/Stuffing Envelopes, Specialty Jobs

Let us perform basic jobs that are too time consuming for your staff, creating a win-win solution for your business.

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