NOVEMBER 2021

SPOTLIGHT ON TOOLS FOR BUSINESS

SEWN

A National Leader in Layoff Aversion in Pennsylvania, SEWN provides the following professional turnaround consulting services for small to medium sized PA manufacturers at NO COST to the business:

  • Financial Restructuring
  • Market Positioning
  • Operational Restructuring 
  • Human Capital
  • Diversification Strategies

SEWN is a program of the Steel Valley Authority (SVA) in partnership with the Pennsylvania Department of Labor and Industry.

SEWN recently produced a 90-second promo piece highlighting our services to help companies pivot in this new pandemic era. Trust SEWN to help stabilize your business performance and improve the value of your company.

WATCH THE VIDEO

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NOTEWORTHY NEWS

annual meeting group

BCEDC 62nd Annual Event

BCEDC held its Annual Event on September 29th at the Northampton Valley Country Club, Richboro, in the Crystal Ballroom. This year’s event was focused on networking and getting reacquainted after a year hiatus.  

The Bucks County Commissioners addressed over 130 attendees with their insights about the impact of Covid on the economy, social issues and employee relations as well as the political climate.

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THE BOTTOM LINE

https://solutions.peco-energy.com/manufacturing-facilities BCEDC Newsletter Manufacturing_1200x800 PECO_21 https://solutions.peco-energy.com/manufacturing-facilities ?utm_source=BCEDC&utm_medium=Newsletter&utm_content=Manufacturing_1200x800&utm_campaign=PECO_21

Boost Your Bottom Line with Financial Incentives from PECO

October is Energy Awareness Month. What better time to identify opportunities for improving the efficiency of your operations and develop an action plan? By reducing energy costs, you can lower operating expenses and boost your bottom line.

Earlier this month, we also celebrated National Manufacturing Day. According to the Energy Information Agency (EIA), manufacturing accounts for one-third of the energy consumed in the United States. While manufacturing has become more efficient over the past 20 years – reducing energy intensity by 26% and increasing gross output by 12% – there is still plenty of opportunity for efficiency improvements. 

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FINANCIAL TOOLBOX

Bucks Business Recovery Grant (BBRG)

BCEDC is sharing this information on the County's new grant program.

The new round of the Bucks County grant program is called the Bucks Business Recovery Grant, and will open for applications on Friday, October 29th, 2021 at 8:00am. The application window for this program will run for three weeks, closing Friday, November 19th, 2021 at 5:00pm.

The Bucks Business Recovery Grant is funded through the Federal ARP Act of 2021, with a goal to aid local Bucks County Small Businesses to lessen the financial stress that the COVID-19 pandemic has caused.

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FINANCIAL TOOLBOX

PIDA Rates Hold Steady for 4th Quarter of 2021

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 2.5% for the life of the loan. 
  2. Fixed interest rate for a seven (7) year period set at the 10-year treasury yield. After seven years, the rate will reset to the then-current 10-year treasury yield.
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COMPANIES ON THE MOVE

NAI Mertz ‘s Jeff Licht & Jared Licht Complete Partial Sale-Leaseback Transaction within 11-building Mixed-use Campus in Bensalem, 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 Jeff Licht, SIOR, Senior Vice President and Jared Licht, Sales Associate, completed the sale of 4636 Somerton Road, Bensalem, PA to J.G. Petrucci Company, Inc. Andrew Somple of NAI Hanson assisted the Lichts in this transaction.

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COMPANIES ON THE MOVE

Bucks County information on leases or renewals for the last 3 months submitted by BCEDC Real Estate Members; Colliers International, The Flynn Co., Newark, NAI Mertz.

BENSALEM
Industrial
Grand Total
Sq. Ft.
113,000
113,000
BRISTOL
Industrial
Industrial
Industrial
Grand Total
Acres
3,525
3,583
9,800
16,908
IVYLAND
Office
Grand Total
Sq. Ft.
4,884
4,884
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BUSINESS HAPPENINGS

701 Canal St LLC was approved by PIDA through BCEDC, for a 15-year, $627,600 loan at a 2.5 percent fixed rate to purchase a 41,792 sq. ft. multi-tenant facility located in Bristol Borough. The building is divided into eleven units with each tenant space varying from 650 sq. ft. to 5,034 sq. ft. Currently, there are nine tenants occupying the facility with eight using their space for light manufacturing, warehousing, and distribution. The total project cost is $1,600,000.

HiMark Windows, Bristol Township, was approved by PIDA for a Machinery and Equipment loan through BCEDC, for a $1 million loan to purchase machinery and equipment. The total project will cost $2 million and allow the company to expand production. It will retain 204 jobs. HiMark Windows manufactures high quality PVC windows and patio doors for replacement and new construction.

MEMBERS' CORNER

John P. Finley Joins Greenbriar Capital, LLC as Managing Director

john finleyGreenbriar Capital is pleased to announce that John P. Finley has joined the Greenbriar Capital Team as Managing Director.

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NEW MEMBERS

Jill Kahlenberg
Marketing Management Solutions