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JANUARY 2022

NOTEWORTHY NEWS

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NOTEWORTHY NEWS

PIDA Changes Policy on Lending Threshold

Over the past year, and with broad input from its membership, PEDA has worked with staff from the Pennsylvania Department of Community and Economic Development (DCED) and the Pennsylvania Industrial Development Authority (PIDA) to identify key adjustments to policy that could further enhance the importance of the PIDA program. This collaborative approach led to important news earlier this month at the PIDA Board meeting, January 5th, updated a policy related to the program's lending threshold. 

SPOTLIGHT ON BUCKS

Moore Energy Breaks it Down…

What’s the latest information on solar systems? Do they really make sense to install on commercial properties? 

Solar Systems need to be evaluated like any other major equipment purchase for your business. To properly evaluate you should look at the three “P’s” - Price, Performance and Payback.

Price: In 2010, the State of Pennsylvania introduced the Sunshine Rebate Program to encourage homeowners and businesses to install Solar Systems on their properties. At the time, a fully installed 100 kWatt Solar System cost about one million dollars. State and Federal incentives helped offset this cost significantly by bringing the “net” cost after incentives to about $400,000.

THE BOTTOM LINE

Sales and Marketing in the New Year

We are once again starting a new year struggling to find ways to connect with our customers. Consumers are equally frustrated by the barrage of messaging they are hit with through texts, emails, commercials, social media etc. There is no one-size-fits-all approach to successful marketing - if I had it, I’d be a billionaire.

What does this mean? All we can do is learn from lots of trial and error. With the mountains of newsletters we get, SEWN has put together a short list of the sales/marketing trends we saw for 2022:

FINANCIAL TOOLBOX

New Rate Options as Low as 1.5% for 1st Quarter 2022

Interest rate options for qualifying PIDA loan applications. These rates are in effect for loan applications received through March 31, 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;

FINANCIAL TOOLBOX

Localities Are Getting Creative with Taxes to Overcome Their Financial Challenges

One hundred ten billion dollars. That is the amount of funding that local taxing jurisdictions received from the federal government as part of the American Rescue Plan Act (ARPA). This funding, while helpful, still leaves localities with long-term financial challenges due to a decrease in overall federal and state funding.

COMPANIES ON THE MOVE

Sale of Three Building Complex on 70 Acres

Andy McGhee of Colliers in Philadelphia represented the buyer, NorthPoint Development and the seller, Siemens Gamesa Renewable Energy, Inc. in the sale of this three building complex on 70 acres. The property is adjacent to NorthPoint’s Keystone Trade Center development, which is currently under construction.

COMPANIES ON THE MOVE

Bucks County information on leases for the last 3 months submitted by the following BCEDC Real Estate Member, Colliers.

BRISTOL
Industrial
Grand Total
Sq. Ft.
6,210
6,210
MORRISVILLE
Industrial
Grand Total
Sq. Ft.
10,500
10,500
WARRINGTON
Industrial
Grand Total
Sq. Ft.
38,000
38,000

BUSINESS HAPPENINGS

DBFI Loan Assists with Flood Recovery

Pennridge Dental Associates was approved to borrow $50,000 from BCEDC’s Diverse Business Fund Initiative(DBFI). The loan will be used for working capital to assist the dental office with business recovery from the floods that occurred in late fall 2021.

The general dentistry practice employs six full and part time employees and has been in operation in Sellersville, Bucks County since 2000.

NEW MEMBER

FlexIP Solutions Names Robert Latronica as Vice President of Business Development

Managed Communications Solutions Provider Taps Telecommunications Veteran to Lead Strategy for Revenue Growth

FlexIP Solutions, a nationwide provider of custom managed communications solutions for businesses, announced today the appointment of telecommunications sales veteran Robert Latronica as Vice President of Business Development.

NEW MEMBERS

Joseph Hurwitz
Ace Designs

Brittany Malcom
Affinity Land Services LLC

Gran Ross
Black Bass Hotel

Richard Kroger
Bucks/Montco County SCORE #570

Fred Bernhardt
Comfort Products