Philly-Area Gas Prices Dropping, Could Fall Below $3.00

Gas prices in the Philadelphia region are falling — and if that trend continues, the price could soon dip below $3 a gallon at some stations.

GasBuddy is reporting prices as low as $3.05 this morning in Woodbury, Gloucester County.  Gas can be found for $3.11 at other stations in South Jersey, and as low as $3.28 in the Pennsylvania suburbs and $3.29 in Northeast Philadelphia.

The average price for a gallon of regular gasoline in the Philadelphia area is $3.46 in Pennsylvania and $3.24 in New Jersey, according to AAA.

Read more:  http://www.philly.com/philly/news/Philly-area_gas_prices_dropping_could_fall_below_3.html

PhillyInc: Merger Of Real Estate Firms Tied To Life Sciences May Give West Philadelphia Area A Boost

English: Map of Philadelphia County highlighting West Philadelphia (Photo credit: Wikipedia)

For 50 years, the University City Science Center has been where scientists and start-ups have toiled to build the next generation of Philadelphia-area companies.

But to hear science center president and CEO Stephen S. Tang, what would really help nurture that entrepreneurial soup would be if a big life-sciences company were to put its headquarters or research operations in West Philadelphia.

Given that several of the biggest drug companies locally have already made long-term commitments elsewhere, there is nothing on the horizon presently.  But a merger between two real estate firms that focus on life-sciences properties may aid Tang’s quest.

Late last month, BioMed Realty Trust Inc. said it would acquire Wexford Science & Technology L.L.C. in a $640 million transaction.

Read more: http://www.philly.com/philly/business/columnists/20130408_PhillyInc__Merger_of_real_estate_firms_tied_to_life_sciences_may_give_West_Philadelphia_area_a_boost.html#ixzz2PsybwX00 
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Property Taxes To Rise Across Philadelphia Suburbs

English: Pennsylvania county map (Photo credit: Wikipedia)

Hundreds of thousands of property owners in Bucks, Chester, Delaware, and Montgomery Counties are getting something they probably don’t want in the new year – higher real estate taxes.

Countywide increases, approved in December, affect the owners of all 382,304 real estate parcels in Chester and Delaware Counties.  Some people are taking a double hit, as at least 27 towns in those counties also have increased taxes.

Bucks and Montgomery Counties kept their rates the same, but at least 28 municipalities raised real estate levies.

While the reasons vary, officials say the overarching reason is basic: Revenue is down; costs aren’t.

Read more:  http://www.philly.com/philly/news/politics/suburban_pa/20130128_Property_taxes_to_rise_across_Philadelphia_suburbs.html

Philadelphia, Suburbs Emerge From Sandy

English: This is my own work, Public Domain Photograph, not copyrighted Ed Yakovich http://www.flickr.com/photos/10396190@N04 (Photo credit: Wikipedia)

The scene at the corner of Chelten and Wissahickon avenues in Philadelphia said it all: A blue mountain bike, badly mangled and turned upside down, but still somehow tethered to a bicycle rack.

The city and its suburbs emerged shaken but largely intact Tuesday morning, after taking a night’s beating from Sandy’s high winds and rain. Some people remained in shelters, but waterways were receding in certain areas, and many residents were coming outside to survey the damage and take a deep breath of relief.

Travel remained challenging, with downed power lines and trees closing streets. SEPTA began resuming services at noon, hoping to bring the system to full strength piece by piece. Shopping malls planned to reopen Tuesday, though an estimated 1.2 million were without power across Pennsylvania.

A Peco spokesperson said total outages for Southeastern Pennsylvania reached more than 800,000 at the height of the storm, shattering previous records, and as of Tuesday morning 585,000 were without service. Restoration could take days.

Read more: http://www.philly.com/philly/news/20121030_Philadelphia__suburbs_emerge_from_Sandy.html

Arts In Philadelphia Economy: A Pretty Picture

English: This is my own work, Public Domain Photograph, not copyrighted Ed Yakovich http://www.flickr.com/photos/10396190@N04 (Photo credit: Wikipedia)

Arts and cultural organizations have a multibillion-dollar impact on the Philadelphia region’s economy, and are among the nation’s most productive in creation of jobs and stirring up economic activity.  Only those in the Washington area generate more per-capita expenditures, and in terms of jobs, no region comes close to Southeastern Pennsylvania.

Cultural activity generates nearly $170 million in state and local taxes annually and supports 44,000 jobs within the city and its four suburban Pennsylvania counties, according to a study set for release Monday by the Greater Philadelphia Cultural Alliance.

The economic-impact study, based on data collected from 345 arts and cultural organizations and more than 2,000 audience members, reports that the sector triggers a total of $3.3 billion in direct and indirect expenditures every year.

In the area of employment, culture in the first-ranked Philadelphia region supports 43,700 jobs; Greater Houston, number two, generates 29,100, and Washington, number three, 29,000.

Read more:  http://www.philly.com/philly/entertainment/arts/20120924_Arts_in_Phila__economy__A_pretty_picture.html

PhillyInc: Reports See Slow Recovery For Philadephia Area

English: Philadelphia skyline (Photo credit: Wikipedia)

The construction cranes that now dot Philadelphia are a welcome sign that some business is getting done, but the steel structures tend to distract the eye from the local economy’s challenges closer to the ground.

The latest quarterly reading of Select Greater Philadelphia‘s leading economic indicators points to mid-2014 as the earliest point when employment in the 11-county region will return to its prerecession level.

A separate analysis of the Philadelphia market by PNC Financial Services Group Inc. recently concluded that the region will continue to lag behind the nation in economic growth, job growth, and income growth.

What’s going on here? Don’t we have an emerging entrepreneurial tech community, a growing business professional services sector, and an enviable cluster of top-notch higher education and health-care institutions?

Read more: http://www.philly.com/philly/business/20120810_PhillyInc__Reports_see_slow_recovery_for_Phila__area.html#ixzz23AG6vpUA
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Former Franklin Mint Site In Delaware County Being Eyed For Planned Community

Image via Wikipedia

A 173-acre site, that includes the former Franklin Mint in Middletown, Delaware County, will become a planned community if developers have their way.  The mint site and two other adjacent properties will be developed into a new “walkable community”.  This project would take 5 – 10 years to complete and would feature 1,253 homes, 798,000 square feet of commercial space, 235,000 square feet of office space and a 225-room hotel.

The new community would enable residents to live, work and play in the same place.  This “town center” concept is becoming very popular.  Construction would create 4,748 jobs.  The number of permanent jobs this project would bring to Middletown is estimated at 2,800!

Tax revenue generated from this project, for the borough, school district and county, would be over $8.1 million!  The Franklin Mint, Middletown site has been closed since 2004.

Public hearings have already started and developers stated they are willing to hold as many hearings as it takes.  500 people attended last night’s legislative hearing.  The Franklin Mint redevelopment project is endorsed by the Delaware Valley Smart Growth Alliance and the Delaware County Chamber of Commerce.

The project is strongly opposed by a group called Save Middletown.

Here is a link to the developer’s website that will answer many questions you might have about the project:
http://www.transformingthemint.com/index.htm

Here is the Save Middletown website:
http://www.ourmiddletown.org/index_files/fms

You can read both sides and draw your own conclusions.

Another Iconic Company Leaves Philly

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The economy is the culprit behind Robbins Diamonds leaving Pennsylvania.  We all remember those silly commercials with Jerry Robbins having a diamond in his beard, I’m sure.

Robbins Diamonds had three locations.  They closed their 8th and Walnut Street store in Center City, Philadelphia along with their store in Allentown.  Robbins blames the horrible economy.  Interestingly, they are keeping their large Newark, Delaware store open.  It has tons of free parking, access to Interstate 95 and Delaware has no sales tax.  (aha!)

Robbins stated he is glad to still be in business considering big names like Jack Kellmer, Bailey, Banks & Biddle and Caldwell’s have closed.  There are still 37 stores left on Jewelers Row in Philadelphia.

Another one bites the dust!