MAY 2021

SPOTLIGHT ON BUCKS

Times Publishing Newspapers, Inc.

donna allenDonna AllenAbout 30 years ago, while working at a daily newspaper in Lancaster, PA, Donna Allen began to see a wave of newspaper failures and a new way forward in the publishing business.

“Newspaper circulation was on the decline in the late 80’s and early 90’s,” Donna explained. “As a regional manager of co-op advertising, I also began to see a decline in corporate advertising in pass-through vendor support and small business advertising including mom & pop shops.”

Later in her work in the Philadelphia publishing market, again the writing was on the wall. “People didn’t like the negativity nor the large geographical coverage,” she explained.

“Advertising clients would say… ‘why would a I want to advertise 25 miles away from my store when people will only drive 5 miles for a pizza?’ as a frequent response … or …  ‘I hate all the bad news and sensational stories they cover.’”

“I’d always find the ‘feel-good’ stories coming over the fax, just landed in the trash.”

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NOTEWORTHY NEWS

BCEDC Approves a New Director to the General Board - Meet Chris Godshall

chris godshallChris Godshall, Senior Vice President of Commercial Lending, joined Meridian Bank in 2004. He is the regional team leader Bucks and Montgomery Counties, growing the bank’s client base of loans and deposits within the region and managing the relationships within the portfolio.

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NOTEWORTHY NEWS

Public Transit Study Begins for Upper Bucks County

Upper Bucks County has not been served by public transportation since the last train left Quakertown in the early 1980’s. This lack of public transportation makes it difficult for businesses to attract a sufficient number of workers.

In order to determine if a new public transportation service is viable, Bucks County has hired McMahon Associates, Inc. to lead a study that will investigate the potential for public transit service for multiple municipalities in Upper Bucks County.

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THE BOTTOM LINE

HR Leaders – Are You Really Listening to Your Employees?

Much has already been written about how disruptive the events of 2020 have been – that’s not a news flash. The impact on organizations, careers, and personal lives has been substantial and is still being sorted through. In the heat of the moment, HR and organizational leaders were forced to react and make quick decisions to keep pace with rapidly changing events. Businesses scrambled to respond, making changes to policies and practices that affected employees’ schedules, workflow, safety, and wellbeing.

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FINANCIAL TOOLBOX

Post-Pandemic State Tax Obligations Expected to Rise: Is Your Business Prepared

The onset of the pandemic forced many businesses to pivot in order to survive. Pivoting was also essential for state governments to survive. Economic turmoil directly correlates with lower state revenue collections for sales tax, corporate and personal income taxes, and fuel taxes. The direct result is significant state budget deficits.

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FINANCIAL TOOLBOX

Interest Rates 1.75% fixed for 7 years

  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 2.75% for the life of the loan.
  2. Fixed interest rate for a seven year period set at the 10-year treasury yield. After seven years, the rate will reset to the then-current 10-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 10-year treasury yield, the rate for the initial seven year period is 1.75%.
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COMPANIES ON THE MOVE

180 New Britain Boulevard, New Britain, PA

AVAILABLE – Rare Opportunity

Located near the intersection of Route 202 and County Line Road in New Britain Bucks County, this modern one-story 100,000sf building provides one with not only a fully sprinklered, ceiling height of 24’clear and with 7,200sf of offices, but quick access to Route 309, to go both north and south.  Available for sale or lease this fine property is one of a select few that could offer both users and investors space today, at extremely competitive rates.

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COMPANIES ON THE MOVE

Bucks County information on leases for the last 3 months submitted by the following BCEDC Real Estate Members, Brode and Brooks, Colliers and NAI Mertz.

BENSALEM
Industrial
Industrial
Industrial
Grand Total
Sq. Ft.
17,000
6,350
37,500
60,850
BRISTOL
Industrial
Industrial
Grand Total
Acres
57,600
4,100
61,700
FEASTERVILLE
Industrial
Office
Grand Total
Sq. Ft.
123,000
4,875
127,875

 

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BCEDC BUSINESS HAPPENINGS

Harry J. Lawall and Son Inc., a manufacturer of custom prosthetics and orthotics has been awarded a PIDA loan to help in their move to Middletown Township. The company was approved for a $1.83 million Pennsylvania Industrial Development Authority real estate loan to acquire and renovate a 38,276-square-foot manufacturing facility situated on 4.88 acres. The company was also approved for $200,000 Pennsylvania Industrial Development Authority to buy machinery and equipment for the new facility, including sanding machines, air compressors, workbenches, an oven and hood, drum sanders, bandsaws, dust collectors, 3D printers, robotics equipment, milling machines, and a bio sculpture machine.

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MEMBERS' CORNER

Colliers Celebrating a 100 Year Milestone

It's not everyday you hit the big three digits.

A century ago Lanard & Axilbund, the historic namesake of Colliers in the Philadelphia Tri-State Region, began as a two person operation on Market Street, their bold red diamond an emblem of enduring integrity.

Today we celebrate 100 years of progress and invite you to explore the twists and turns of a century at Colliers - and how it informs our present and future.

 

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MEMBERS' CORNER

DiversityInc Recognizes PPL Corporation as a Top Company for Diversity and Inclusion

Company earned spots on DiversityInc Top Utilities and Environmental, Social and Governance lists 

PPL Corporation (NYSE:PPL) has been recognized by DiversityInc as one of the top utilities in the nation for its workforce diversity and one of the Top 50 Companies for Environmental, Social and Governance (ESG).

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MEMBERS' CORNER

Kreischer Miller Selected as a ‘Top Workplace’ for 2021 by The Philadelphia Inquirer

Kreischer Miller, a leading independent accounting, tax, and business advisory firm serving the Greater Philadelphia and Lehigh Valley areas, today announced that it has been selected as a Top Workplace for 2021 by The Philadelphia Inquirer. This marks the fourth time the firm has been named a Top Workplace by the publication.

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MEMBERS' CORNER

BCEDC Member Receives Quakertown Rotary's 4-Way Test Award

Quakertown Rotary hosted their annual 4 The Way Test Award Breakfast earlier in May to honor members of the community that promote high ethical standards in their professional lives. Congratulations to the Upper Bucks Chamber of Commerce Executive Director, Danielle Bodnar for receiving the Business Award.

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NEW MEMBERS

Pamela Gallagher
School Food Services Solutions, LLC

Jon Gelman
Gelcor, Inc.

Kevin Komelasky
Republic Bank

Christopher Kuttler
Maryanne Pastry Shoppe, Inc.

ANNUAL DINNER UPDATE

BCEDC is planning to hold a Fall event this year. Please watch for details to be shared next month.

Thank you for your patience, we hope you will join us in the Fall 2021.