Economic Outlook – Bucks County – August 2013

The Bucks County local Economic Outlook report for August 2013 serves as an addendum to the labor market reports, providing additional information for the Nation, State, and local region. National data is based on August 2013, while State and Local data are based on July 2013. Download the report.

Affordable Care Act’s Impact on Small Businesses

Many readers may have heard of the "pay-or-play" penalty, also known as the Employer Shared Responsibility Payment, under the Patient Protection and Affordable Care Act ("Affordable Care Act"). However, according to the U.S. Small Business Administration, only 4% of U.S. firms qualify as a large employer subject to the penalty.  For those readers who may not be familiar, the "pay-or-play" provision, which has been delayed until 2015, requires employers with 50 or more Full-Time Equivalent employees to provide health coverage that meets minimum essential coverage and affordability standards to at least 95% of their full-time employees (and their dependents) or face a penalty if their employee obtains a federal tax credit for health care purchased through the federal or state Health Insurance Marketplace.

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TMA Bucks Executive Director Bill Rickett to Retire

Board Vice President Bill Brady Selected As Successor

The Transportation Management Association of Bucks County announced in September that long-time executive director Bill Rickett will be retiring from his position effective October 31 and the association’s board of directors’ vice president Bill Brady will replace him. Rickett, who has spent 14 2 years with the TMA, has been the first and only executive director of the non-profit organization.

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Four Bucks County Businesses are on the Philadelphia Business Journals Best Places to Work List

The awards were given in five categories: small, medium, large, extra-large and companies headquartered elsewhere.

The Best Places to Work competition is based entirely on how statistically significant samples of employees anonymously rated their own companies on things like team effectiveness, trust with co-workers, alignment with goals, and trust in senior leaders as well as recognition and benefits. The Survey is administered by Quantum Workplace, an independent third-party surveying firm.

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Small Business Beware


PECO is urging customers to be aware of a scam that is now targeting small businesses throughout the area. The scam, which previously only targeted residential customers, claims that customers are behind on their account and must make immediate payment to avoid service termination.

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Spotlight on Bucks Business

Future Foam is Committed to Bucks County

Future Foam, Inc. strengthens its commitment to retain its workforce in Bucks County by purchasing two properties that they have been leasing the last four years.  The properties are located at are 249 and 259 Canal Rd, Fairless Hills.  The two adjacent buildings are located on 8+ acres with a total square footage of 120,000. The properties are located in an Enterprise Zone in Penn Warner Industrial Park.

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BCEDC Has A New Tax Free Financing Partner

The Bucks County Economic Development Corporation (BCEDC) has a new partner in offering tax free financing to manufacturing companies, tax exempt projects, and 501C3 entities. The new partner is the Quakertown Area Commercial and Industrial Development Authority (QACIDA).

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The Bottom Line

A Regular Feature to Help Your Business Improve Its Profitability

Tackling Difficult Decisions: How to More Effectively Deal with Problematic Issues

Wouldn’t it be great if every day we woke up and all was good in the world — no poor or mediocre operating results, no people issues, no customer or supplier issues, no worries. 

Unfortunately, that is not the world we live in today. The most successful companies and their leaders have one thing in common — they are effective in dealing with difficult decisions that can have profound results. 

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Landlord’s Duty to Retain Personal Property of Prior Tenant

Act 129 of 2012 amended the Pennsylvania Landlord Tenant Act to address the disposition of abandoned tenant property (after the tenant either vacated or was evicted) for both residential and commercial leaseholds. Before the passage of Act 129, the tenant did not lose title by failing to remove the personal property. Both the landlord and tenant now have duties to deal with said property. The tenants will now have an affirmative duty to obtain their property left at the abandoned leasehold.  In short, 68 P.S. 250.505(a) states that upon vacating or being evicted from the leased premises, the tenant shall have 10 days to contact the landlord regarding the tenant’s intent to remove the remaining personal property. If the tenant complies with this 10-day notice, the personal property shall be retained by the landlord at a site of the landlord for a period of 30 days. If the tenant fails to advise the landlord within 10 days, the property can be disposed of at the discretion of the landlord.

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Strategic Early Warning System (SEWN)

24 Hours Aren’t Enough


Simply running a small business is more than a 24/7 commitment. Being a mother of four, a full time caregiver and president of your family business is enough to overload anyone’s circuits. None of these jobs came with an instruction manual, and Bucks County business woman Trish Grove has had to become very good at handling each job on the fly. Trish came into the family business when her husband, Ben, began a long term battle with stomach cancer. The business he founded in their family garage, Breathe Safe, had grown into becoming a major provider of fire safety equipment throughout the five-county region and South New Jersey. They were recognized for their exceptional service, and developed a large and loyal base in the volunteer fire community. Unfortunately, with Ben’s inability to help with the business, Trish was left to juggle too many balls, and the business suffered.  

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Financial Toolbox

State Rates Remain Unchanged for the 4th Quarter

A) Fixed at 4.00% for 15 years

B) Fixed at 2.50% for 7 years, rate reset based on 10 year treasury yield, capped at 4.50%

Other Interest Rates

MELF3.50%

SBFF3.50%

Interest rates are for borrowers who submit an application by December 31, 2013.

 

Companies on the Move

400 Crossings Drive

Mike Borski and Pat Gilmore of The Flynn Company represented both the buyer 400 Crossings, LP and the Seller Little Britain Holdings in the sale of 400 Crossings Drive. The settlement took place on August 7th, 2013. Purchase price $10,000,000.00.

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BCEDC Business Happenings

A&L Foods has been approved to borrow $945,000 from PIDA. The loan will be used to purchase 30,000 square feet of an existing 72,000 square foot building at 1436 Wells Drive, Bensalem Township. The building is located in an enterprise zone. A&L Foods will create 13 jobs and retain 14 jobs. Established in 1938, A&L Foods, Inc. has been serving the mid-Atlantic area with dry, frozen, and refrigerated retail and institutional specialty groceries specializing in Kosher foods.

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New Financing Approved

Member's Corner

Energy Expert Lonnie Barish Says
Companies Continue to Squander Money on Utility Bills

A Simple Audit Can Save Companies a Small Fortune

As a seasoned project developer and construction manager of real estate development on behalf of several publicly traded institutions and private developers throughout the United States, he has used his passion to save his customers a small fortune. 

Barish faced the constant challenge of finding ways to determine the best available energy saving options for his clients without having to navigate the maze of electricity and natural gas deregulation.

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