215-348-9031  |  115 WEST COURT STREET  |  2ND FLOOR  |  DOYLESTOWN, PA 1890


JUNE 2022

SPOTLIGHT ON BUCKS BUSINESS

KTC Groundbreaking

Redeveloper Breaks Ground on Massive Industrial Park at Former US Steel Site in Falls Township

At its height, Fairless Works employed some 7,000 workers, and was one of the largest steel mills in the world.

In 2001, US Steel closed the storied Falls Township plant, leaving just hundreds of workers to remain for the next decade and stalling economic growth.

For years, there have been plans to reclaim those hey days, but with each hopeful project that failed to materialize, the skeptics grew. Could Fairless Works, and the 1,800 acres it sits on in Lower Bucks County, be remediated and redeveloped?

NOTEWORTHY NEWS

Buckingham-Based Biotechnology Center Gets $722.5K in Funding

State Senator Steve Santarsiero said the funds will be used for new labs and teaching facilities in the "world-class research center."

The Buckingham-based Pennsylvania Biotechnology Center recently received a large funding package, as part of nearly $2 million in state funding recently allocated to science and technology initiatives locally.

NOTEWORTHY NEWS

BCEDC Annual Event Sponsorships are Available

The 63rd Annual Event & Reorganization Meeting will be held at the Northampton Valley Country Club on September 21, 2022. Invitations and registration will begin in July.

Foundation and Terrace level sponsorships are still available. 

NOTEWORTHY NEWS

Neil Armstrong Middle School Partnered with Lampire Receives Outstanding Overall Achievement Award

Lampire participated in the “What’s So Cool About Manufacturing” student project this year. This contest is designed to help build a pipeline of technical talent and give students a new perspective on careers in manufacturing. Lampire was partnered with the students from Neil Armstrong Middle School.

THE BOTTOM LINE

Pricing – The Most Misunderstood Element of Your Strategy

Pricing is one of the most controversial and difficult issues a company faces, and it is oftentimes the most misunderstood element of the organization’s strategy. The obvious issues with pricing pertain to your competitive position. Pricing often reflects your position in the market in terms of whether your competitive strategy is to be value-added or a commodity/low cost option.

FINANCIAL TOOLBOX

PIDA Rate for the Second Quarter 2022

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-yr. period), set at the current 10-year treasury yield + 100 basis points. Based on the current 10-year treasury yield, the fixed rate option is 3.5% for the life of the loan. 

COMPANIES ON THE MOVE

Roddy Inc. Represents Ford Road Associates

Roddy Inc., the Bensalem, PA industrial and commercial real estate brokerage firm, represented Ford Road Associates in the leasing and/or renewal of several units located within Keystone Business Center I, 2014 Ford Road, Bristol, Bucks County, PA. Sean Durkin of Roddy Inc. handled the transactions on behalf of Ford Road Associates.

COMPANIES ON THE MOVE

Bucks County information on leases for the last 3 months submitted by BCEDC Real Estate Members, Colliers International & Roddy, Inc.

BENSALEM
Industrial
Grand Total
Sq. Ft.
12,700
12,700
BRISTOL
Industrial
Industrial
Industrial
Grand Total
Sq. Ft.
3,525
5,288
3,525
12,338

MEMBERS' CORNER

BCEDC’s Member, Rob Latronica Announces a New Product Offered by FlexIP

FlexIP Solutions Launches Flex Contact Center Pro Plus

FlexIP Solutions, a nationwide provider of custom managed communications solutions for businesses, announced today the launch of Flex Contact Center Pro Plus, an enhancement to its contact center as a service (CCaaS) offering that includes professional and managed services that make enterprise-class customer experience easily attainable for businesses of all sizes.

BCEDC BUSINESS HAPPENINGS

Aluminumia Realty LLC, through the Bucks County Economic Development Corporation, has been approved for a 15-year, $1,000,000 loan at a 1.5 percent reset interest rate to acquire and renovate a 14,229-square-foot, one-story, multi-tenant building located at 51 Runway Road, Bristol Township, Bucks County. Once the building is acquired, the company has a tenant who will occupy 30 percent of the space with an expected increase to 50 percent in 2023. The company has identified a potential tenant for the remaining space after April 2023. The total project cost is $2,000,000.