Lancaster PA Commercial Real Estate

CPBJ Reports:  Pemcor Printing Co. acquired Pittsburgh-based Typecraft Press Inc. on Oct. 25 and Manchester-based Laser Imaging Systems Inc. on Nov. 18.

Pemcor is a printing, mailing and marketing company with operations in East Hempfield Township in Lancaster County and West Conshohocken in Montgomery County.  Laser Imaging Systems offers specialized printing and data processing services in the retail, health care and financial industries, and Typecraft Press specializes in cold-set web printing for the collegiate, specialty travel, and leisure markets.

via Regional printer acquires Pittsburgh, Manchester firms

Pennsylvania’s economy is likely to continue expanding through the middle of next year, according to a forecast by the Federal Reserve Bank of Philadelphia.  PA’s index for October was 1.0 and the national leading index was 1.5.  The state saw a decline in initial unemployment claims and a positive trend in current economic activity.

via Philly Fed forecasts mild growth for Pa

CPBJ Reports:  The Pennsylvania Fund for Workforce Solutions recently sent a letter to Gov. Tom Corbett and the state legislature requesting funding for Pennsylvania’s Industry Partnerships program.  The group asked the governor to restore the funding to $7.6 million, the amount in the 2010-11 budget.

Industry partnerships operate with funding from the state and businesses to provide workforce training in key industries and occupations. The state Department of Labor and Industrybegan funding the partnerships in 2005, and more than 100,000 workers have been trained since the program began.  More than 6,300 employers have contributed $75 million in matching dollars during that time, the collaborative said.

Pennsylvania Business Council President and CEO David W. Patti said in a statement, “Pennsylvania is facing a critical shortage of skilled labor.  Industry Partnerships are an ideal and cost-effective tool for training and re-training individuals who could be employed in these good-paying jobs.”

via Group asks state to up industry partnerships funding

CPBJ Reports: Pennsylvania is ahead of most of North America in creating competitive electricity markets, according to an ABACCUS industry report released Wednesday.  The state ranks No. 3 among U.S. states and Canadian provinces in providing electric choice for residential consumers and No. 4 for its commercial and industrial electricity market.

Pennsylvania is No. 3 for its number of energy suppliers  (33) and product offerings (55).  The Pennsylvania Public Utility Commission is considering further market-oriented reforms to the state’s regulatory framework, such as changes that would facilitate consumers switching to competitive suppliers.

via Pa. ranks high for electricity market reforms

CPBJ Reports: Shareholders of Susquehanna Bancshares Inc. and Tower Bancorp Inc. on Wednesday approved the merger of the two midstate banking firms.  The votes set the stage for a planned Feb. 17 integration.

Susquehanna said June 20 it would acquire Tower for $343 million in stock and cash.  The merged institution will have about $17.8 billion in assets and more than 250 locations in Maryland, New Jersey, Pennsylvania and West Virginia.

Susquehanna, based in Lititz, is the parent company of Susquehanna Bank. Its shares trade on the Nasdaq under the ticker symbol SUSQ.  Tower, based in Harrisburg, is the parent of Graystone Tower Bank, which operates under the Graystone, Tower and 1N brands.  Its shares trade on the Nasdaq under the ticker symbol TOBC.

via: Susquehanna, Tower shareholders OK merger

CPBJ Reports – Health Management Associates Inc., a parent company of three midstate hospitals, is issuing $875 million in bonds.  The unsecured senior notes pay 7.375 percent interest and will come due in 2020.  The sale is scheduled to close on Nov. 18.

The company plans to use the money to repay outstanding debt and for general corporate needs, according to the release.  The notes are in addition to Health Management’s proposed loans of $2.1 billion and a revolving credit facility of $500 million.