• 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

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  • 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

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  • 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

     

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  • 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

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  • 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

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  • 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.

    Based in Florida, Health Management owns Carlisle Regional Medical Center in Cumberland County, Heart of Lancaster Regional Medical Center in Warwick, Lancaster County, and Lancaster Regional Medical Center in Lancaster.  The business operates 66 hospitals in the country.

    via Owner of midstate hospitals prices $875M in bonds

     

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  • CPBJ Reports:  Central Pennsylvania’s largest commercial and general aviation airports contributed nearly $1.1 billion to the local and state economies in 2010, according to a recent PennDOT study.

    Harrisburg International Airport in Lower Swatara Township, Dauphin County, contributes the majority of the impact, according to the study. HIA alone had an impact of about $947 million last year and employed 11,627 people.

    Lancaster Airport in Manheim Township adds $76.4 million to the economy and employed 657 people.

    Capital City Airport and York Airport, the midstate’s two largest general aviation airports, contribute more than $61.5 million to the economy. Capital City in Fairview Township, York County, is owned by the Susquehanna Area Regional Airport Authority, HIA’s owner. York Airport is in Jackson Township.

    The four airports employed 12,659 people and had payrolls of more than $398 million last year, according to the study.

    via Study: Midstate airports have $1.1B economic impact – Central Penn Business Journal.

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  • CPBJ Reports:  Lancaster is well-equipped to bring businesses and professionals to the area, city business leaders said today.

    The city’s proximity to other urban centers and ease of getting to places like Philadelphia and New York via train or major highways is a big reason why many businesses and professional move to Lancaster, said Hunter Johnson, a principle at Lancaster-based Tono Architects. Johnson was a panelist at this morning’s Lancaster City/Township consortium meeting hosted by the Lancaster Chamber of Commerce & Industry and Brickyard Sports Inc.

    Lancaster’s metropolitan atmosphere also is a draw, Johnson said, citing restaurants, banks, businesses and the post office all within walking distance of each other.

    “It’s urban, but small enough that you know a lot of people, know the community and feel like you’re all working toward something,” said Sarah Lanphier, owner of Nuts About Granola LLC, who recently moved to Lancaster from York County to expand her business.

    The physical infrastructure of Lancaster is different than in surrounding cities, Johnson said. The many historic buildings still intact and recent improvements to sidewalks, paved streets and utilities make the city stand out in comparison, he said.

    Homeowners who take pride in and care for their properties also lend to the city’s attractive nature, Lanphier said.

    “There’s an intangible vibe in the city, a chemistry and culture happening downtown and people want to be a part of it,” Johnson said.

    It was good to hear that the city’s efforts — such as infrastructure improvements to attract people and businesses — are working, Mayor Rick Gray said.

    Suggestions for further city improvements included encouraging projects within the city to use local service companies and installing more bicycle racks.

    “It’s an easy sell — people drive around the city and want to stay,” said Matthew Addy, CEO of Lancaster-based Edward J. & Co., the parent company of LaPorte Jewelers.

    via Leaders: Lancaster positioned to attract businesses Central Penn Business Journal.

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  • CPBJ reports:  Lancaster General Health will break ground for a $44 million cancer center next week at the Suburban Outpatient Pavilion on Harrisburg Pike in East Hempfield Township.

    The 70,000-square-foot building will bring medical oncologists, radiation oncologists, surgeons and other cancer specialists together in one location, according to a news release. The Suzanne H. Arnold Center for Breast Health will be integrated into the two-story cancer center.

    The latest diagnostic and treatment technologies will be installed in the Ann B. Barshinger Cancer Center, including a gamma knife for noninvasive treatment of tumors, and TomoTherapy with 3-D imaging and targeted radiation beams, the organization said.

    Central Penn Business Journal.

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  • NREI reports:  Data centers support business-critical information technology systems, and any downtime can cost millions in lost revenue and even threaten the viability of a business.

    Against that backdrop, the United States ranks as the top choice for companies seeking low-risk data center locations, reflecting the country’s relatively low cost of energy and favorable business environment, according to a new study.

    Cushman & Wakefield and engineering consulting firm hurleypalmerflatt released details of the Data Center Risk Index on June 15.

    The index, which evaluated risk in 20 leading and emerging markets and across key regional centers, scored India the least favorable with China also near the bottom of the rankings (see table).

    “Despite their status as engines of global growth, China and India score poorly as a result of strict foreign ownership regulations and other barriers to investment,” says Stephen Whatling, global services director at London-based hurleypalmerflatt.

    U.S. Ranks As Top Choice for Companies Seeking Low-Risk Data Center Locations.

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