National, Pittsburgh Region Companies Rally To Extend Charter Of Export-Import Bank

GE Transportation recently signed a deal to build 100 locomotives in Erie — including engines made in Grove City — and sell them in Angola for $350 million.

GE used financing through the Export-Import Bank, which provides loans, loan guarantees and insurance to U.S. companies selling overseas. The bank, supporters say, helps U.S. companies compete more effectively for foreign business.

“If we hadn’t had that financing, the order would have gone to China,” said Richard Simpson, global head of supply chain for the company, who said Thursday that GE Transportation financed $720 million in sales to three other countries last year.

Such deals are in jeopardy, advocates for the 80-year-old bank say. Its charter expires June 30 and observers say it might not come up for a vote in Congress before then.

Read more: http://triblive.com/business/headlines/8548411-74/bank-companies-export#ixzz3csBLMqRz
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Gov. Corbett Announces Hundreds Of Additional Projects Due To Transportation Plan

Map of Pennsylvania (Photo credit: Wikipedia)

HARRISBURG, PA – Gov. Tom Corbett today outlined more than 250 projects that will start work this year due to the state’s new transportation plan.

At least $2.1 billion will be invested into the state’s highway and bridge network — about $600 million more than what would have been available without the transportation bill Corbett signed last fall. Overall, more than 900 projects will get underway this year.

“This plan is creating safer roads, bridges and transit systems while at the same time saving 12,000 jobs and creating 50,000 new ones over the next five years – 18,000 jobs are expected to be created this year alone.” Corbett said. “We are putting these transportation investments to work quickly as we strive to build a stronger Pennsylvania both now and in the future.”

Read more: http://timesleader.com/news/local-news-news/1301350/Gov.-Corbett-announces-hundreds-of-additional-projects-due-to-transportation-plan

Lancaster County Jobless Rate Drops Under 6 Percent

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

Lancaster County‘s unemployment rate fell again in November, dipping to 5.9 percent from October’s 6.1 percent, the state reported Friday.

In declining for the third straight month, the local jobless rate sank to its lowest point since December 2008, when it was 5.6 percent.

The new rate means the county continues to slowly make progress toward its pre-recession level of unemployment.

“It’s taking a lot of time to settle down,” said Bill Sholly, an analyst with the state Department of Labor & Industry.

Read more: http://lancasteronline.com/article/local/939510_Lancaster-County-jobless-rate-drops-under-6-percent.html#ixzz2pRyoxj1x

Berks County Unemployment Declines

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

Berks County‘s unemployment rate decreased to 7.3 percent in November from 7.4 percent in October, the lowest unemployment rate since January 2009, when it was also 7.3 percent, the state Department of Labor and Industry reported Friday.

Berks’ unemployment rate was the eighth-lowest among the state’s 14 metropolitan statistical areas, or MSAs.

“For Berks, as an MSA, it did rather well compared to other MSAs,” said Steven Zellers, industry and business analyst at Labor and Industry.

Lebanon and Centre counties had the lowest rates, 5.8 percent, while Scranton/Wilkes-Barre‘s was the highest at 9.1 percent.

Read more: http://readingeagle.com/article/20140104/MONEY/301049989#.Usgx5_RDsxI