The Bucks County Covid Hospitality Industry Program (CHIRP) Team Met Governor Wolf in Bristol, PA

Gov. Tom Wolf visited Bristol Borough to speak about the state’s COVID-19 Hospitality Industry Recovery Program (CHIRP).

The program allotted $145 million in funding assistance to hospitality industry businesses in the state. Bucks County received close to $7 million that was awarded to 196 businesses across 36 towns.

BCEDC Long Time Board Member Passed Away on June 6th

Peter P. Liebert IV was on BCEDC Board of Directors for over 30 years. In 2019 he was moved from the General Board of Directors to the Executive Committee where he served as an active Member at Large. For many years he was the Bucks County International Trade Representative and would report their activities at the board meetings.

Do You Know the Potential State Tax Implications of Remote Workers?

Businesses derived many lessons as a result of the pandemic, from learning to pivot quickly to embracing innovative approaches to production, delivery, and responding to market needs.

Perhaps one of the most significant lessons learned was the ability to utilize remote workers to perform certain job responsibilities. As businesses return to the office, they are discovering that employees expect more flexibility than before, causing many companies to consider making some remote work assignments permanent.

SBA Announces Forgiveness Portal for Small PPP Borrowers

In an effort to streamline the Paycheck Protection Program (PPP) forgiveness process, this week the SBA announced the launch of a forgiveness application portal for borrowers with PPP loans of $150,000 or less. 

Lenders are required to opt into the program. After confirming their lender has opted in, borrowers can begin submitting applications through the portal on August 4, 2021. 

PIDA Interest Rate drop for the 3rd Quarter of 2021

Below are the updated 2021 third quarter interest rate options for qualifying PIDA loan applications. These rates are in effect for loan applications received through September 30, 2021.

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

Home Reserve, LLC, through the Bucks County Economic Development Corporation, was approved for a $740,000 PIDA Machinery and Equipment Loan Fund (MELF) loan at a 10-year, 2.75 percent fixed interest rate to acquire nearly $1.5 million in manufacturing machinery and processing equipment for use in Home Reserves’ new Quakertown facility. The equipment includes industrial woodworking, textile, foam blowing, and packaging machinery and equipment and will support Home Reserves’ in manufacturing and packaging its uniquely designed, flat-packed, and ready-to-assemble furniture.

The Flynn Company Sells 245 Andrews Road

Brokers Mike Borski, Sr. and Pat Gilmore of The Flynn Co. announce the sale of 245 Andrews Rd, Trevose, Bucks County. The seller was 245 Enterprises, LLC and the buyer was Two 245 Associates. The 13,000 square foot industrial space has 16 foot ceilings, 2 tailgates and 1 Drive-in door and approximately 750 square foot of office space.

West Coast-Based 3rd Party Logistics Provider Leases 184,611 Sq. Ft. in Bucks County (Suburban Philadelphia), PA

Roddy Inc., the Bensalem, PA industrial and commercial real estate brokerage firm, announced that it represented FellowShip Warehousing & Logistics LLC (“FellowShip”) in leasing the modern one-story facility of approx. 184,611 sq. ft. situated on 11.88 acres located at 3001 Frost Road, Keystone Park, Bristol Township, Bucks County, PA.

Bucks County information on leases for the last 3 months submitted by the following BCEDC Real Estate Members, The Flynn Company and Roddy Inc.

Carly Mannon

TMA Bucks recently welcomed Carly Mannon to their team as the Community Traffic Safety Program manager! Carly is a Bucks County native with a background in communications, meeting planning and event planning. Carly also has experience in working with non-profits. In her role, Carly is working with law enforcement, local businesses, schools, and the community to reduce the number of annual highway deaths in Bucks County. Please feel free to contact Carly at 267-895-5186 with any questions or if you would like to schedule FREE programs.

Meet New Member AKA Trucking

AKA Trucking was founded in October 2014 by husband and wife, Akram Kholbaev and Munira Kholbaeva. The couple had immigrated from Tashkent, Uzbekistan in 2004 to provide better opportunities and education for their three children and had worked ad-hoc jobs such as working at Marshalls factory, customer service associate in supermarkets, and various minimum wage jobs up until the beginning of AKA Trucking, a trucking company specializing in general goods transportation all across United States.

Munira Kholbaeva
AKA Trucking, LLC