Report: Lancaster Metro Economy Rates 100th In Size In U.S.

Map of Pennsylvania highlighting Lancaster County

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

Lancaster County boasts the 100th largest economy among the 363 metropolitan statistical areas in the U.S., according to a report released in conjunction with the U.S. Conference of Mayors’ annual meeting.

The economy here produced $21.6 billion in 2013, according to the report (PDF), prepared by the economic analysis firm IHS.

The mayors are using the report to call attention to the outsized role of metro areas in the U.S. economy. Metro areas account for 90 percent of U.S. gross domestic product and are expected to generate 92 percent of overall U.S. economic growth through 2020, the report said.

Read more: http://lancasteronline.com/business/local_business/report-lancaster-metro-economy-rates-th-in-size-in-u/article_cfba5fbc-fb0a-11e3-a5ce-001a4bcf6878.html

Economic Development Coalition Begins Long Journey To Revive Greater Reading

Map of Pennsylvania highlighting Berks County

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

What should Berks County’s economy look like in 10 or 20 years?

That’s what eight economic-development and workforce groups explored when they collaborated on the Ride to Prosperity report three years ago. The group wanted to create a greater Reading where residents are more prosperous and happy to live here, where businesses are more innovative and there’s more opportunities.

To start the work, the group filled the report with specific action items that could be done in three to five years.

Three years later, the group has checked some big items off the weighty to-do list.  Berks Park 78 became shovel-ready and attracted three tenants.  A fast-track development program has moved several projects through an express-lane approval process.  Key players stress the importance of eight economic and municipal groups working together for a common goal: a stronger and prosperous economy.

Read more:  http://businessweekly.readingeagle.com/economic-development-coalition-begins-long-journey-to-revive-greater-reading/

Stokesay Castle Savior Recounts Memorable Career

Map of Pennsylvania highlighting Berks County

Map of Pennsylvania highlighting Berks County (Photo credit: Wikipedia)

The bolt of lightning that lit up Stokesay Castle just before Christmas in 1991 was invisible to everyone except the first-time visitor who experienced it.

It was a brilliant, internal flash of recognition that took place in the mind of Jack D. Gulati.

A veteran buyer and seller of businesses who had immigrated to the U.S. from India as a teenager, Gulati had learned to profit from such moments.  He had experienced many.  Like all the other times, as he absorbed the hulking medieval-style grandeur of Stokesay, he saw two simple things.

Value and possibility.

Read more:  http://readingeagle.com/article.aspx?id=478200

‘No Simple Formula To Success,’ YouTube Co-Founder Tells Twin Valley Students

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

ELVERSON — It’s not often that a high school student can brag to others that a famous person graduated from their school.

But the students at Twin Valley High School can, and on Thursday night, the new inductees to the National Honors Society got to meet one of their famed alumni.

Brent Hurley graduated from Twin Valley in 1997, nine years before Google purchased the company that Hurely helped found.  That company is a little video sharing website called YouTube.

Along with his brother, Chad, Steve Chen, and Jawed Karim, Hurley helped launch YouTube in February of 2005.

Read more:  http://www.pottsmerc.com/article/20130504/NEWS01/130509706/-no-simple-formula-to-success–youtube-co-founder-tells-twin-valley-students#full_story

New Report Warns Of Looming Pennsylvania Pension Shortfall

HARRISBURG – Gov. Tom Corbett‘s budget office indicated Monday that the governor may attempt to reduce the pensions of current public employees, a politically volatile and legally questionable solution to what has become a $41 billion unfunded liability.

In a new report on the state’s two large public-sector pensions, the budget office warned of the potential for higher taxes, program cuts, lower business growth and steeper borrowing costs because of the state’s financial obligations toward the State Employees’ Retirement System and the Public School Employees’ Retirement System.

The financial pressures from the pension systems have loomed over state finances for more than a decade, and Corbett, a Republican, repeatedly has spoken of a desire to make changes to them.

The report says higher taxes “should be off the table,” but reductions in prospective benefits for current employees should be considered.

Read more:  http://readingeagle.com/article.aspx?id=431511

Business Incubator Hatches At York College

Map of York County, Pennsylvania, United State...

Image via Wikipedia

I am always excited to report on these things! 

The 7,100-square-foot Kings Mill Depot is now open to any for-profit corporations in the start-up phase, small businesses entering a growth phase or existing companies launching new projects.  The best part is that the incubator is for firms dealing with technology, health care, sciences or engineering.  The incubator is all about creating good paying jobs that have a high growth potential.  Lord knows Pennsylvania needs decent paying jobs that will support families!

Applications are being accepted through the J.D. Brown Center for Entrepreneurship at York College.  Faculty, staff and students are available to help with business development! 

Contact Jeff Vermeulen at (717) 815-6639 if your firm would like to take advantage of the awesome opportunity!

Bethlehem also has a very successful job incubator at Lehigh University.  You can also read about that here: http://roysrants.wordpress.com/2010/04/13/bethlehem-job-incubator-recepient-of-6-million-dollar-federal-recovery-act-grant/