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Banking & Finance

Fulton edges past PNC for market-share lead

A seven-county swath of Central Pennsylvania has a new No. 1 when it comes to bank deposits. Lancaster-based Fulton Bank has eclipsed longtime leader PNC Bank for the top share of deposits in Adams, Cumberland, Dauphin, Franklin, Lancaster, Lebanon and York counties, according to the latest data from the Federal Deposit Insurance Corp. As of June 30, Fulton had […]

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Nonprofit lender lands $40M in tax credits to back projects

Community First Fund has been awarded $40 million in new market tax credits, which it can use to support economic-development projects around the region. The credits are awarded annually by the U.S. Treasury on a competitive basis.  Based in Lancaster, Community First was awarded $30 million in new market tax credits last year. Those credits are […]

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Virtual-assistant biz makes third acquisition this year

The virtual-assistant business has been a source of real-world growth for Zirtual, a portfolio company of Lancaster-based investment firm PennSpring Capital. Zirtual closed Friday on the acquisition of Double, a virtual-assistant business based in Brooklyn, New York.  It’s the third deal this year for Zirtual since it was acquired by PennSpring in December. People hire virtual assistants to help […]

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Deal boosts insurance arm for regional bank

Mid Penn Bancorp has snapped up a Dillsburg-area employee benefits firm as it seeks growth for its insurance unit. The Mid Penn unit, which does business as MPB Insurance and Risk Management, started in June 2020, primarily in property and casualty products, according to Rory Ritrievi, chair, president and CEO of the Harrisburg-based bank. The acquisition of Commonwealth […]

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Chase plans Carlisle Pike branch

 Chase Bank, the retail banking arm of financial services giant JPMorgan Chase, is seeking permission to open a branch on the edge of Hampden Commons, a shopping plaza along Carlisle Pike in Hampden Township, Cumberland County.  The bank is leasing a former M&T Bank branch at 5528 Carlisle Pike, according to Brad Rohrbaugh, retail director for York-based Bennett Williams […]

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Regional bank to cut six branches post-merger

Orrstown Financial Services is planning to shed six branches as it seeks to wring cost savings from its recent merger of equals with PeoplesBank parent Codorus Valley Bancorp. The closures, expected to take place in the fourth quarter, will result in a one-time pre-tax charge of $534,000 but yield annual pre-tax savings of about $1.7 million, according to a […]

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Lanco wealth advisory bought by Texas firm

Another local financial advisory has landed in the arms of a larger business. Rodgers & Associates Wealth Advisers, based in Manheim Township, Lancaster County, has been acquired by Bluespring Wealth Partners, an Austin, Texas-based firm that has scooped up more than two dozen wealth management firms since it was founded five years ago. Rodgers & Associates […]

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Fulton to shutter 19 branches

Fulton Financial is closing 19 branches in southeastern Pennsylvania, South Jersey and New York City three months after the bank’s emergency acquisition of failed Philadelphia lender Republic First Bank, a deal that deepened Fulton’s reach in the state’s largest market.  Lancaster-based Fulton is closing 13 of its own branches and six former Republic branches, according to Fulton spokesperson […]

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Orrstown cutting jobs post-merger, but execs see growth ahead

Orrstown Financial Services is shedding about 135 jobs as part of its recently closed merger with Codorus Valley Bancorp, with the majority of the cuts landing in back-office areas such as marketing, technology, finance and risk management, according to bank executives. The cuts stem from overlapping operations of the two banks, Tom Quinn, Orrstown’s president and CEO, […]

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Stake in Rock Lititz company poised to change hands

Goldman Sachs Alternatives, a private equity arm of New York-based finance giant Goldman Sachs, has agreed to purchase a majority stake in TAIT, a live-entertainment production company based at Rock Lititz in Lancaster County.  The seller is private equity firm Providence Equity Partners , which has had a stake in TAIT since 2019. Terms of the deal, which […]

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PennSpring-backed firm scoops up virtual paralegal service

Zirtual, a portfolio company of Lancaster-based investment firm PennSpring Capital, is branching out. The virtual-assistant service has acquired Del.Trust, a company that offers virtual paralegal services to attorneys and law firms nationwide. Terms of the transaction were not disclosed. Del.Trust founder Jaclyn Foster is joining Zirtual as president of its newly established paralegal services division. “She is […]

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Select Medical’s workplace health unit files for IPO

Concentra, the occupational health subsidiary of Mechanicsburg-based rehab chain Select Medical, filed last week for an initial public offering of stock, though many of the details remain to be filled in — including the timing and share price for the IPO. Nonetheless, the filing presents a fairly detailed overview of Concentra, its operations and its outlook on the […]

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Startup nonprofit in Lancaster aims to persuade

Drew Mousetis understands the benefits of employee ownership. As a lead consultant for employee-owned software company Cargas in Lancaster, he enjoyed a sense of financial security that allowed him and his wife to purchase a new home in Lancaster County where they are raising their four young children. “You just can’t really put a value […]

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House panel OKs controversial swipe-fee legislation

In a party-line vote, a House panel approved legislation on June 12 to exempt Pennsylvania sales taxes from so-called swipe fees — the fees assessed to process transactions involving credit cards. Fourteen Democrats on the committee voted for the legislation, House Bill 2394, while 11 Republicans were opposed. The exemption would mean that on a $1 […]

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Banks, retailers spar over swipe-fee legislation

Pennsylvania banks and credit unions are pushing back on proposed state legislation that would exempt the sales-tax portion of retail purchases from so-called swipe or interchange fees — the fees charged by financial services companies for processing credit card payments. The fees are typically 1% to 3% of a transaction. Under the exemption, on a […]

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Lanco financial firm merges with Denver peer

The slowdown in home lending has challenged banks and mortgage brokers over the last year. But it has created opportunities for the firms that offer them advice and technology to improve their operations. It is those opportunities that helped spur a merger for Teraverde, a financial software and consulting company based in East Hempfield Township Lancaster […]

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Construction

West Shore construction supplier sold

Valley Supply Inc., a Mechanicsburg-area distributor of concrete accessories, fabricated rebar, chemicals and safety products for the construction industry. The company has been acquired by White Cap, a growing, Atlanta-based construction supplies distributor. Terms of the transaction were not disclosed, but Valley Supply will continue under its own name and existing leaders, Harvey Sipe and Linda […]

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Regional projects land state funding

High-profile construction projects around the region are in line for millions of dollars in state funding under grant awards disclosed Friday. Beneficiaries include a proposed sports complex in North York, a residential project underway in Lancaster County and the planned makeover of Harrisburg’s former federal building. They are among more than 400 projects statewide awarded […]

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Pharma giant plowing millions into Lancaster County campus

Life sciences heavyweight GSK is investing up to $800 million into its Marietta-area campus with plans to boost capacity and produce cutting-edge vaccines targeting illnesses like pneumonia and meningitis. The project, described as the British company’s largest-ever investment in U.S. manufacturing, entails construction of a new 300,000 square-foot facility and refurbishment of an existing building, along with […]

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State testing $10M program to boost housing supply

State officials yesterday unveiled a pilot grant program designed to fund mixed-use projects with a residential component. State officials see the $10 million program as a first step in addressing the shortage of affordable housing in Pennsylvania, a shortage that is drawing attention at every level of government. Funding is available for preparing sites for […]

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Mixed-use project is ‘first phase of final phase’ for York tract

Officials in York have toiled for more than two decades to bring development to the Northwest Triangle, a former industrial tract along the Codorus Creek in the city’s northwest corner. They filled in pieces here and there over the years. On Oct. 10, they celebrated what is likely to be the final piece: a mixed-use […]

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Developer appeals ruling that blocks York-area warehouse rezoning

Inch & Co. is appealing a York County court ruling that blocks the company from building a warehouse on land south of Route 30 in Manchester Township. The move continues a nearly two-year-old battle over the 52.7-acre site, which borders the Prospect Hill Cemetery. Some neighbors have opposed the warehouse plans since they became public, […]

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Houck exec aims to bring down suicide risk in construction

After her older brother died by suicide nearly 20 years ago, Kara McCaffrey felt drawn toward efforts to prevent others from following. “It’s just something that I’ve always cared about,” said McCaffrey, whose family owns Houck Group, a regional construction contractor based in West Hanover Township, Dauphin County. The personal became professional when she started […]

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Inch & Co., WellSpan break ground on $35M sports complex in North York

After about two years of planning, Inch & Co. held a ceremonial groundbreaking for a $35 million sports complex in North York, a facility expected to draw hundreds of thousands of visitors to the county each year and spark millions of dollars in economic impact. The event yesterday drew more than 150 guests, including leaders from […]

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Deal broadens reach of equipment dealer

A Harrisburg-area construction equipment dealership is extending its footprint southward through the acquisition of a company with offices in Maryland and Virginia. Stephenson Equipment Inc. said last week it purchased Valley Supply & Equipment, a business founded in 1982 by Howard Klein and last owned by his two sons, Adam and Brandon. Terms of the transaction […]

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$450M project taking shape on former state hospital grounds

The grounds of the former Harrisburg State Hospital are heading for a makeover. The Pennsylvania Department of General Services yesterday unveiled plans to build a $450 million laboratory complex on the 30-acre property, which has been mostly vacant since 2006. The project includes a new $325 million, 300,000 square-foot joint lab to be shared among […]

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Former Harrisburg law office headed for residential conversion

A New York City investor has acquired a former law office on North Front Street in Harrisburg and plans to convert the former mansion into an eight-unit apartment building to be called Front Street Lofts. The investor, a family office called Generational Wealth Organization that also has a presence in California, paid $633,000 for the building. It […]

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Financing is among ‘biggest challenges’ for Lancaster rehab

Business owner Jared Mizrahi is planning a $5 million makeover of a mixed-use property in downtown Lancaster. He just needs to finalize the financing. A big piece came through last month in the form of a low-interest $1.4 million loan from the state’s Building Pennsylvania program, arranged by Lancaster-based EDC Finance. Mizrahi said he is hoping to […]

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Camp Hill firm combines with K.C. peer

Engineering firm Gannett Fleming is roughly doubling in size thanks to a merger with a Kansas City, Missouri-based peer, TranSystems.  Together, the two private equity-backed firms create a business with more than 5,000 employees and annual revenue of about $1.3 billion. Terms of the transaction were not disclosed. For Camp Hill-based Gannett, the deal continues a path of […]

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Nonprofit plans $65M senior-living campus in northern York

Messiah Lifeways is planning to build a new campus in northern York County, with a groundbreaking slated for October.  The campus will occupy 85 acres of farmland tucked into a bend of the Yellow Breeches Creek in Fairview Township, about 10 minutes from Camp Hill. Based in Upper Allen Township, Cumberland County, Messiah paid $5.9 million […]

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Inch taps construction vet for ops/finance chief

Inch & Co. Holdings, a York County construction and real estate development firm, has hired Mike Benshoof as its first-ever chief operations and financial officer. Benshoof, a construction industry veteran, was most recently president of Berks Homes, a regional home builder with offices in Mohnton, New Cumberland and State College. “We’re very, very happy to have […]

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Building a national brand from a West Shore base

Soon after founding West Shore Home nearly 20 years ago, B.J. Werzyn envisioned turning the home-remodeling business into a nationwide brand. It was not a vision that was readily embraced, given the company’s humble beginnings in an industry long dominated by local contractors. “When you’re one location here in Mechanicsburg, Pennsylvania, with 50 employees and […]

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Firms partner on $18.6M apartment project in Lebanon

Lebanon-based construction company Arthur Funk & Sons Inc. is teaming up with a Wisconsin-based developer to build a 48-unit affordable apartment complex on a roughly five-acre plot along Mount Pleasant Road in South Annville Township, Lebanon County A formal groundbreaking is scheduled for July 15, but site work already is underway, said Matthew Padron, managing director […]

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Economy

Surveys: Business outlook optimistic but tempered by expectations of slow growth

As elected officials debate another government-led kickstart to the U.S. economy, business leaders are optimistic about their own prospects but resigned to slower growth overall. That’s the gist of two recent surveys gauging the outlook of executives who have spent the last six months grappling with the crippling impact of a pandemic that has taken […]

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entrepreneurship

Food

Distributor clears path to employee ownership

There were times it seemed too complicated to pull off. But after five years, the owners of Lancaster-area logistics business Founders Market & Co. found a way to start selling company shares to their employees. The owners — Scott Martino, Matt Stargel and Alex Thompson — began contemplating some form of employee ownership after they took […]

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RGS Associates

Bill Fredericks and Len Bradley have been named principals of  RGS Associates, a landscape architecture, land planning and civil engineering firm based in Lancaster. Fredericks, previously a client manager, has more than 15 years of experience in land development projects, including senior living communities, commercial developments and industrial sites. Bradley, previously an engineering supervisor, has […]

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Maple Donuts

Maple Donuts has hired a CEO following its sale in June to a consortium of private investors led by Swander Pace Capital. The new chief is Greg Somerville, who worked most recently as president and CEO of Savencia Cheese USA, a subsidiary of a French company. Somerville has more than 25 years of leadership experience in consumer goods, including […]

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Federal shutdown freezes SBA lending

The shutdown of the federal government is stalling a critical pipeline for loans to small businesses. Like the rest of the government, the U.S. Small Business Administration has been closed since Oct. 1. As a result, the agency is unable to formalize its guarantee to repay loans if small-business borrowers cannot.  The guarantees encourage lenders to […]

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Central Pennsylvania Food Bank

The Central Pennsylvania Food Bank. The nonprofit has added two executives to its C-suite. Ted Simes joined the regional food bank in July as COO.  The Lancaster County native worked most recently as a branch manager for logistics and engineering company CTDI. He also was previously director of operations and food safety at Reading-based food ingredient distributor Lentz […]

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Attorney general pushing forward with power-line fight

Pennsylvania’s top lawyer plans to press ahead in a lawsuit over controversial power lines proposed for York and Franklin counties even after a federal court ruled in favor of the company behind the project. The decision by Attorney General Dave Sunday opens a new chapter in the four-year-old legal battle over the power lines, proposed […]

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The YGS Group

Hal Carney has been named chief revenue officer for The YGS Group, a York-based content and communications company. The role oversees revenue growth, margin improvement and other initiatives. Carney worked most recently as executive vice president of the York-Adams region for Orrstown Bank and PeoplesBank, which was acquired by Orrstown last year. Before that, he was a regional […]

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York-based chain opens first VA store

Convenience-store operator Rutter’s has opened its first outpost in Virginia. The York-based company opened a 14,000-square-foot store yesterday in Winchester, a town along Interstate 81 in Virginia’s northernmost corner. It is the 91st location for Rutter’s, which also has stores in Pennsylvania, Maryland and West Virginia. The store features the chain’s new sports bar concept, […]

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Developer plans pocket park in downtown Harrisburg

Nonprofit developer Harristown Development broke ground yesterday on an outdoor event venue, dubbed Coronet Park, at 21 S. Second St. Harristown acquired the property in 2017 when it was the site of a blighted commercial building with a long-vacant eatery known as the Coronet Restaurant. Harristown demolished the building and planned to erect a six-story office. But […]

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Mount Joy packaging maker sold

After more than 40 years in business, the sibling co-founders of a Mount Joy packaging company decided to hand over the reins. Founded in 1983, Phoenix/Packaging has been acquired by Elkhart, Indiana-based Welch Packaging Group Inc.  Welch was not the only buyer interested in Phoenix, according to John Davidson, a co-founder and vice president of marketing for Phoenix, […]

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Camp Hill restaurant proposal, other West Shore projects join hunt for state funds

One of Camp Hill’s most foreboding properties could be the key to a more prosperous future for the West Shore borough’s main commercial thoroughfare. Financial adviser Tony Conte and attorney Brian Hinkle are hoping to convert the former Masonic Temple at 2211 Market St. into a full-service restaurant with liquor license. The project aims to […]

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Lanco firms seek state funds for HQ upgrades, other projects

Some of Lancaster’s highest-profile companies are hoping to persuade state officials that their plans to upgrade corporate headquarters deserve a dose of public funding. Manufacturer Armstrong World Industries, event technology company Clair Global and flooring maker Ecore International are among applicants statewide angling for funds from the Redevelopment Assistance Capital Program, or RACP, a grant program that backs projects statewide. […]

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Investment Real Estate Group of Companies

Sven Ericson has been named district manager for Investment Real Estate Group of Companies, a York-based owner and operator of self-storage facilities. Ericson worked most recently in leadership roles at Self Storage Plus, where he oversaw operational and financial initiatives, and at CubeSmart Self Storage, where he managed multistate portfolios and supported growth through innovation […]

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Partner, investors exit controversial hydro project

A partner and two minority investors have left the partnership spearheading a controversial hydroelectric project in York County, according to documents filed this week with federal regulators. The departures reflect personal decisions rather than any differences of opinion, according to the partnership’s remaining owner, Bill McMahon. Still, McMahon acknowledged that his former partner, Jan Sockel, […]

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Mid Penn Bank

Christina Dinger has been named senior vice president and director of enterprise-wide project management for Mid Penn Bank, the chief operating subsidiary of Harrisburg-based Mid Penn Bancorp. Dinger worked most recently as senior vice president, senior manager II of transformation delivery at M&T Bank, where she directed large-scale programs that advanced growth and operational efficiencies. […]

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Double-digit spike ahead for health plan costs

After warning for months that the cost of Obamacare health plans would be higher next year, Pennsylvania regulators delivered the final numbers this week. The spike for small businesses is not quite as high as the initial forecast, according to the Pennsylvania Insurance Department, which approves the premiums. But the jump is higher than projected […]

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Regional home improvement biz sold

Renewal by Andersen of Central PA, an independently owned retail affiliate of Minnesota-based door and window manufacturer Andersen Corp. has been acquired by another Andersen affiliate, St. Louis-based The Birner Group. Terms of the transaction were not disclosed. The Central PA Andersen affiliate was owned by Joe Zisman, who is retiring after five decades in the industry, […]

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Doceo

Juleen Bixler has been named vice president of operations at Doceo, a York-based business equipment and technology company. A graduate of Central Penn College, Bixler has more than 15 years of experience in the office technology and services sector. “Juleen’s experience and integrity speak for themselves,” John Lewis, Doceo’s CEO and president, said in a […]

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Government

State revenue down from decline in gassing up

Pennsylvania may have one of the highest gas taxes in the country, but the levy is delivering shrinking returns, according to a research brief this week from the Independent Fiscal Office, a state agency monitoring budgetary and economic trends.  The culprit is declining gasoline usage in the wake of the Covid-19 pandemic, which pretty much […]

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Court puts business-reporting rule on hold

A federal court in Texas suspended enforcement of a controversial business-reporting regulation four weeks before it was slated to take effect. In a ruling Tuesday, U.S. District Judge Amos Mazzant said the rule is “likely unconstitutional” and issued an order blocking its implementation pending further court review. Adopted under a law known as the Corporate […]

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Court tosses developer’s lawsuit over township fees

Plenty of developers have likely wondered how cities and townships calculate the fees they charge for construction permits. Harrisburg-area developer Triple Crown Corp. took its questions all the way to Commonwealth Court, where it argued that fees charged by Lower Allen Township in Cumberland County for two apartment projects were unreasonable and unconstitutional. The case was […]

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High court reverses ruling in tax-refund case

Pennsylvania is dodging a fiscal bullet thanks to a ruling handed down yesterday by the state’s highest court. At issue was a corporate taxpayer’s demand for a $2 million refund after a tax structure was declared unconstitutional. The Commonwealth Court ruled last year that the state should pay the refund. But a divided Supreme Court reversed the […]

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Guv aims to speed permits for ‘complex and impactful’ projects

Gov. Josh Shapiro is hoping to ensure ambitious developers have a friend in Pennsylvania — or at least an easier time securing permits for construction. At an event in Philadelphia yesterday, the governor signed an executive order creating a transparent, fast-track permitting program for what are being described as “complex and impactful economic development and infrastructure projects.” […]

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Deal would transfer control of beleaguered Harrisburg apartments

Under a proposed settlement filed in court last week, the owner of an embattled Harrisburg apartment complex is agreeing to cede control of the property to an independent receiver and to convert its bankruptcy case to a liquidation. The deal, which requires court approval, would end a festering dispute between the city and the apartment […]

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Studies see benefit in state-run retirement savings

State-backed retirement plans, which have been proliferating around the U.S., appear to boost savings among workers, according to a study released yesterday. Workers are 20% more likely to contribute to a retirement savings account if they work at a business in a state that has an auto IRA program, according to the study, undertaken by […]

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Guv signs off on new tax-appeal option

Pennsylvania taxpayers are poised to get a new avenue for disputing tax bills they don’t like.  Under legislation signed into law yesterday by Gov. Josh Shapiro, state officials will be rolling out independent mediation as a way to settle tax disputes before they reach state courts. Under previous law, taxpayers interested in a settlement would negotiate […]

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House OKs tax credits for new power generation

Companies that build or expand power plants in Pennsylvania stand to benefit from millions of dollars in tax credits under legislation approved in the state House. However, the companies would have to navigate complicated criteria to claim the credits, including requirements capping carbon emissions and setting minimum thresholds for capital spending. The legislation updates a […]

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PA revenue chief, state senator clash over tax-records request

A Pennsylvania state senator is escalating his dispute with the state revenue department over tax records related to an economic development zone in the Lehigh Valley. For the last few months, Sen. Jarrett Coleman has been seeking tax records related to a state-sanctioned improvement zone in downtown Allentown and questioning whether taxpayers are getting their […]

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State opens portal for reporting data breaches

Pennsylvania’s attorney general has set up an online portal where companies in Pennsylvania will be required to report data breaches under amendments enacted this year to the state’s breach notification laws. Signed into law in June, the amendments require companies to report breaches that affect at least 500 Pennsylvanians starting Sept. 26. In preparation for […]

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In York speech, Trump pledges ‘pro-American overhaul’ to boost manufacturing

In a roughly 50-minute speech yesterday afternoon at a York factory, former President Donald Trump argued that, if elected for another term, he would usher in a U.S. manufacturing boom driven by higher tariffs, lower taxes, better trade deals and a reduction in energy costs. “Together, we will reclaim our nation’s destiny as the No. […]

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Health Care

State ends appeal in medical cannabis recall

State health officials have dropped a legal action seeking to reinstate their controversial recall of medical marijuana vapes. The move before the state Supreme Court doesn’t end the legal fight. It simply means the Department of Health is no longer appealing a lower-court ruling that put the recall on holdNonetheless, it was welcomed by the medical […]

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Rite Aid, WellSpan forge partnership to boost care

Under a partnership announced Aug. 15, Rite Aid and WellSpan Health plan to share data so they can better coordinate care for the roughly 100,000 patients they share in Central Pennsylvania and northern Maryland. They may eventually share space, with York-based WellSpan operating inside Rite Aid pharmacies, according to Chris Bohrer, senior vice president of payer and strategic initiatives […]

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Hershey-area startup acquired by Pittsburgh firm

A Pittsburgh-based life sciences company has acquired Fathom Pharma, a Hershey-area startup focused on developing safer pain medications. As a result of the deal, Fathom is now a subsidiary of Consegna Pharma. Other terms of the transaction were not disclosed.Together, the two companies hope to develop innovative products that treat overdoses, addiction and pain.They rely […]

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Lancaster entrepreneurs aim to tackle school-based mental health challenges

Barbara Grimm, above left, worked with David Cooper to create the School Responder app (photos/submitted). During more than a decade working in the Lampeter-Strasburg School District in Lancaster County, Barbara Grimm saw a growing problem. More and more students needed help grappling with behavioral health issues, said Grimm, who worked in a variety of administrative […]

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Lancaster health lab rolls out welcome mat

After taking a break during the Covid-19 pandemic to focus internally, a Lancaster-based venture formed by some of the region’s biggest players in health care is welcoming its first outside partner in nearly two years:  SkinIO, a Chicago-based company using technology to broaden access to dermatology screenings. People can use the SkinIO app to take […]

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Lancaster ATM operator agrees to liquidation

During a court hearing yesterday, Lancaster-based Blackford ATM Ventures consented to a petition forcing it into Chapter 7 bankruptcy liquidation. The next step is to appoint a bankruptcy trustee to oversee distribution of the company’s assets. The process is not likely to be straightforward, acknowledged an attorney for Silverview Credit Partners, the Florida-based lender that sought to force Blackford […]

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PA joins new deal to settle opioid claims against Purdue, Sacklers

State attorneys general, including Pennsylvania’s newly installed Dave Sunday, are taking another crack at settling opioid-related claims against bankrupt drugmaker Purdue Pharma and the Sackler family that owns it. In an announcement yesterday, Sunday and other attorneys general said they reached a $7.4 billion settlement in principle with the company and the family. The deal does not […]

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Bank claims could complicate recovery for ATM investors

Investors hoping to recover money from Lancaster-based ATM operator Paramount Management Group are facing a new hurdle. In a legal filing this month, a Berks County bank claims it has a stake in some of Paramount’s ATMs, as well as any revenue they may be generating. Customers Bank is asking a Lancaster County judge to stay an earlier […]

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Court backs Harrisburg vape shop in licensing spat

Commonwealth Court has tossed out state rules requiring licensing of companies manufacturing e-cigarettes and the liquids used in them. The court found that the rules gave the Pennsylvania Department of Revenue too much discretion in deciding how they would be enforced. The decision came Friday in the context of a lawsuit filed by East Coast Vapor, […]

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Hearing raises new questions for beleaguered ATM network

Is it fraud or a failing business? That was one of the questions hanging over a court hearing held yesterday morning to consider contempt charges against Paramount Management Group, a Lancaster-based ATM network being sued by its investors. The investors want Paramount held in contempt for its alleged failure to abide by a court order issued earlier […]

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Court backs state claim to insurance fund surplus

For three years in a row, former Gov. Tom Wolf and state lawmakers tried to get their hands on surplus money held by Pennsylvania’s medical malpractice insurer of last resort. The insurer fought back, arguing that, as a private entity, its multimillion-dollar surplus should remain beyond the reach of public officials. Wolf and state legislators […]

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Legal woes mount for Lancaster-based ATM operator

Claims against a Lancaster-based ATM network took on new forms during a roughly one-hour hearing held Friday afternoon in a Lancaster County courtroom.   An attorney representing disgruntled investors in the network raised concerns about money flows involving the network’s operator, Paramount Management Group, and questioned whether the operator had inflated the number of ATMs it owned. […]

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Case tests corporate liability for defunct subsidiary

Is a company still liable for a subsidiary’s legal problems even after the subsidiary is legally dissolved? That’s an issue being taken up by the Pennsylvania Supreme Court in the context of asbestos class-action lawsuits filed against Dravo, a former shipbuilder and manufacturer based in Pittsburgh. The question is whether Dravo’s asbestos liabilities should pass to Carmeuse Lime Inc. […]

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York-area manufacturer sued over alleged retaliation

Federal regulators filed a lawsuit against a York-area manufacturer for allegedly firing an employee who had raised concerns about safety. In a lawsuit filed in late October, the U.S. Department of Labor accuses Red Lion Controls of terminating the employee after he refused to carry out a task that he felt was unsafe. The agency is seeking […]

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Court OK sought for bankruptcy sale of Harrisburg-area winery

The bankrupt owner of Spring Gate Winery in suburban Harrisburg is seeking court permission for a sale of the winery and some of its assets, including its beer and wine licenses. According to court filings this week, Schoffstall Farm LLC is asking for approval of a sale to Nitin Patel, who would pay $2.85 million for the winery. The […]

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Harrisburg apartment owner asks court to block alleged meddling in bankruptcy sale

The bankrupt property owner trying to sell Governor’s Square apartments in Harrisburg has complained in the past that the city of Harrisburg is thwarting its sales effort, and it’s now asking a bankruptcy judge to intervene. In a court filing last week, Maryland-based Uptown Partners LP asked a judge to order the city to “cease and desist from […]

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Federal charges prompt suspension of York County judge

York County Judge Steven Stambaugh has been suspended without pay in the wake of federal allegations that he orchestrated an unemployment fraud scheme at his York-based personal-injury law firm, Stambaugh Law PC. The suspension was handed down yesterday by the state’s court of judicial discipline following a motion from the state judicial conduct board, th “The […]

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Manufacturing

Armstrong World buys specialty manufacturer

Armstrong World Industries, paid $95 million in April to acquire 3form LLC, a manufacturer of architectural resins, glasses and other materials based in Salt Lake City, Utah. Products from 3form, such as acoustic wall tiles, translucent glass and textured wall coverings, are expected to complement existing products from Armstrong World’s architectural specialties division, which accounts for […]

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Steel fabricators expand in York County

The steel-fabrication business is thriving in York County as two companies expand operations there, one from Dallastown and one from Maryland.  Yoe Construction, the Dallastown-based company, is leasing space for a new steel fabrication shop at 775 Lombard Road in Windsor Township, York County.  The 23,142 square-foot shop is an extension of the company’s existing […]

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Lanco steel fabricator sold

A longtime Lancaster County manufacturer is under new ownership. Greiner Industries, a structural steel fabricator in Mount Joy Township, Lancaster County, has been acquired by IES Holdings Inc., a Houston-based company that designs and installs electrical and technology systems for data centers, residential housing and industrial facilities, among other end markets. The acquisition includes the Greiner […]

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Vc firm ups investment in York-area food biz

A York County pretzel maker is looking to boost sales in both new and existing channels following a fresh infusion of venture capital. York-based White Rose Ventures has poured $500,000 into The Pretzel Co., which was founded in 2014 as York City Pretzel Co. White Rose previously invested $250,000 in the soft-pretzel maker, which is based in Manchester Township. […]

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York-area manufacturer makes acquisition

Flinchbaugh Engineering, an employee-owned contract manufacturer based in Hellam Township, York County, has purchased Billet Industries, a precision manufacturer also based in Hellam Township. Terms of the transaction, which took effect Jan. 1, were not disclosed. The acquisition reflects an effort by Flinchbaugh to diversify its business, according to a press release. The company makes […]

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Lanco flooring maker buys Newville firm

Ecore International, a Lancaster-based company that makes flooring from recycled rubber, has purchased a Cumberland County company that collects and refurbishes old tires. The company, Newville-based Ameritread, fits in with Ecore’s goal of reusing and repurposing rubber products but also produces scrap that Ecore can incorporate into its own products. Terms of the transaction were not disclosed. […]

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Lanco manufacturer sold to Texas private equity firm

A private equity firm focused on manufacturing has acquired ATI Corp., a family-owned company that makes equipment used in excavation and site preparation. Terms of the deal with Houston-based LDR Growth Partners were not disclosed. Based in East Earl Township, Lancaster County, ATI had been owned by Jansen Herr. The company — which employs more than 30 people […]

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NEW UNION VOTE ORDERED AT HERSHEY PLANT

To settle allegations that it violated federal law during a union election at a Virginia plant, The Hershey Co. has agreed to a do-over under a settlement with federal regulators. In the original election, held in early 2022, workers at the Stuarts Draft plant rejected joining the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union. But the […]

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Box maker eyes big investments in PA

One of the worlds’ largest recycled cardboard-box makers is planning to plow $500 million over the next decade into its Pennsylvania operations, which include a plant in the Carlisle area. The company is Pratt Industries, which has annual sales north of $6 billion and Australian-born businessperson Anthony Pratt at its helm. In a statement, Pratt said his company’s investment in Pennsylvania […]

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Agency mulls deal for shuttered factory

A subsidiary of the Cumberland Area Economic Development Corp. is exploring an acquisition of a recently shuttered Carlisle factory. The subsidiary, called the Real Estate Collaborative LLC, has signed a letter of intent to buy the plant formerly operated by The Frog, Switch & Manufacturing Co. at 600 E. High St. in the Cumberland County borough. But first, […]

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AMES parent to shutter local factories

Two capital-area factories are slated for closure as their parent company reconfigures its supply chain to boost profits in the face of slower sales and high U.S. overhead. New York-based Griffon Corp. said it plans to close Hampden Township and Harrisburg factories that make garden tools, wheelbarrows and other equipment for The AMES Companies, a Griffon subsidiary and longtime staple […]

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Firm to boost production of semiconductor materials in PA

A supplier to the semiconductor industry is plowing $300 million into an expansion of its operations in Schuylkill County. The investment by supplier EMD Electronics includes construction of a 96,500 square-foot facility near Tamaqua, expanding the company’s production of specialty gases used in semiconductor and electronics production. The company’s investment is expected to create at least 68 jobs […]

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Lancaster print plants to close

Citing a shrinking demand for catalogs and magazines — and rising costs for ink and paper — commercial printing giant LSC Communications is stopping the presses at its two plants in Lancaster County, laying off about 656 workers The closure comes more than two years after LSC was rescued from bankruptcy by a Connecticut-based conglomerate called Atlas Holdings. Executives […]

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Utz names next CEO 

After steering one of the region’s largest private companies onto the public market, Utz Brands CEO Dylan Lissette is stepping into a new role. After 27 years with the Hanover-based snack maker, Lissette will become executive chairman of the company’s board on Dec.15.Utz’s new CEO will be Howard Friedman, currently COO of St. Louis-based Post Holdings, a consumer-packaged […]

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Harsco Headquarters sold to local developer

As it gears up for a move to Philadelphia, Harsco has unloaded its longtime Wormleysburg headquarters this year for $4.3 million. However, the roughly 42,000 square-foot building will remain a corporate headquarters.A partnership that includes Lemoyne-based Rhodes Development Group bought the building and plans to move there, along with two of its operating divisions, according to Larry Kluger, president and […]

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Marketing

Real Estate

Harrisburg-area mall sold for $8.8M

A Massachusetts-based developer is acquiring the Colonial Park Mall, an aging retail complex that local officials hope to see rejuvenated. A partnership headed by the developer, Zi Qian “John” Zhang, paid nearly $8.8 million for the mall, which is at 4600 Jonestown Road in Lower Paxton Township, according to county deed records. Zhang is still […]

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Agency in deal to buy former Carlisle factory

A Cumberland County agency has taken another step toward the purchase of a Carlisle factory that shut down last year. The Real Estate Collaborative LLC, a subsidiary of the Cumberland Area Economic Development Corp., has struck a tentative agreement to buy the Frog, Switch & Manufacturing Co. site at 600 E. High St. in the Cumberland County borough. No […]

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Regional real estate player buys Shippensburg firm

Regional real estate firm Berkshire Hathaway HomeServices Homesale Realty has scooped up Sailhamer Realty, an eight-person firm in Shippensburg. Terms of the transaction were not disclosed. Sailhamer was headed by John Dyson, a son-in-law of the firm’s original founders. The firm’s Shippensburg office will close, and Dyson and the rest of the Sailhamer team will work out […]

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Harrisburg seeks dismissal of apartment owner’s bankruptcy case  

The city of Harrisburg is asking a federal court to dismiss the bankruptcy case of Uptown Partners LP, the Maryland-based owner of the Governor’s Square apartment complex in uptown Harrisburg In a filing last month, the city argues that the deteriorating apartment complex is “unlikely” to find a buyer and that state court would be a […]

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Middletown-area warehouse sells for $170.5M

In one of the largest commercial deals in the region this year, a real estate investment trust paid $170.5 million for a 1.2 million square-foot warehouse in the Middletown area. The warehouse is at 3327 E. Harrisburg Pike in Londonderry Township. The buyer is affiliated with Radnor-based advisory EQT Exeter. The seller was an affiliate of […]

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Apartment owner claims Harrisburg hampering bankruptcy sale

Harrisburg officials are allegedly hindering the sale of a beleaguered apartment complex in the city’s uptown neighborhood, according to claims raised in federal bankruptcy court by the complex’s owner, Uptown Partners LP.  At issue is a list of roughly 600 crucial code violations at the affordable-housing complex, known as Governor’s Square City officials have not shared […]

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West Shore college aims to sell surplus land, buildings

Central Penn College is looking to unload surplus land, townhomes and office space in and around its 58-acre campus in East Pennsboro Township, Cumberland County, through an RFP process overseen by Lemoyne-based RSR Realtors. College officials hope the properties attract developers with proposals that enhance the campus and benefit students. Potential partners could include medical providers […]

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Former cabinet plant sold for $3.3M

A growing metal fabrication company in York County has purchased the former Wayneco Cabinetry plant, which has been idle since the cabinetry business shut down this spring. BMB Holdings LLC paid $3.3 million for the 81,000 square-foot facility, which is at 800 Hanover Road in Jackson Township, west of York city. The new facility is roughly three times […]

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Carlisle apartment complexes change hands

A Philadelphia-area apartment owner has scooped up a pair of Carlisle-area complexes alongside nine other properties around the state. The Carlisle-area properties — the 93-unit Hanover Manor and 80-unit Carlwynne Manor — are the two smallest properties taken in the deal, which includes more than 3,400 units overall, The other properties are in Allentown, Reading, […]

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Revamp of Harrisburg’s former federal office building snags affordable-housing funds

A state agency is showering about $7.4 million on Central Pennsylvania developers and nonprofits aiming to alleviate the shortage of affordable housing and combat homelessness. The grants announced this month by the Pennsylvania Housing Finance Agency range in size locally from less than $50,000 to an award of $500,000, which is being given to a construction company […]

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Accenture, a major state contractor, opens Harrisburg office

Accenture, which has landed some big-ticket state contracts, has opened an office in downtown Harrisburg at 20 N. Second St. The international professional services firm is leasing about 3,100 square feet on two floors of the building, which is also home to lobbying and communications firm Bravo Group. Accenture, which also has an office in Philadelphia, […]

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Developer eyes mixed-use project for 26-acre Lanco tgract

Apartments and a hotel could be coming to the former Shawnee Resort property along Oregon Pike in Manheim Township, Lancaster County.  Property owners Surender Singh and Manjeet Kaur, doing business as Kirpa Estates LP, envision a mixed-use development on the 26-acre site incorporating apartment buildings, a hotel and other retail buildings, according to Matt Creme, their […]

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Pallet company buying Chambersburg-area facility for relocation

J&J Pallet and Recycling LLC is planning to purchase, upgrade and move into a 16,400 square-foot industrial building at 1690 Opportunity Ave. in the Cumberland Valley Business Park in Greene Township. The company, which sells recycled shipping pallets, is currently based in leased space at 1051 Sheffler Drive in Chambersburg. The company has been approved […]

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Retail

Technology

Other Categories

York, Harrisburg firms on the move

The new year is poised to bring new digs to two local companies. Reynolds Restoration Services bought a flex property in suburban Harrisburg for its new headquarters. York County-based construction firm Wagman also has purchased a building for a new HQ, a property in Manchester Township, York County. Both companies said they are outgrowing their current spaces. Starting with: […]

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Highs donate real estate biz to family foundation

The High family is presenting a second major gift to their family foundation. The family’s ownership of Lancaster County-based High Real Estate Group is being transferred to High Foundation, the foundation announced on Dec. 20. The year-end gift follows the donation last year of High Industries, which was valued at nearly $115.2 million. The value of the real estate company was not disclosed but […]

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Plan unveiled for suburban Harrisburg mall

A Maryland developer has revealed its vision for what will replace the Harrisburg Mall, a longtime suburban destination destined for the wrecking ball. Baltimore-based St. John Properties is proposing a roughly 550,000 square-foot development — dubbed Swatara Exchange — that includes a mix of retail and commercial buildings, with a smidgen of office space. While the plan calls for […]

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Court voids PA carbon-emission rules

A state court has tossed aside regulations that would have enrolled Pennsylvania in a multistate carbon-cutting program, regulations that were a climate-change priority for the former administration of Gov. Tom Wolf. At issue was whether the heart of the program — a market in which companies must buy credits to emit carbon — represented a fee […]

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Brokerage buys capital-area advisory firm

A Harrisburg-area financial advisory has joined the wave of consolidation washing over the industry. Comprehensive Financial Associates, based in Susquehanna Township, has been acquired by insurance and benefits brokerage AssuredPartners, according to a press release from Wise Rhino Group, the M&A firm that advised Comprehensive Financial. Terms of the transaction were not disclosed. But it also includes […]

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Black-owned firms tapped for legal services program

McNees Wallace & Nurick has picked 10 small, Black-owned businesses to receive free legal services in the third annual installment of the Harrisburg-based law firm’s program to overcome barriers to business growth and success. The small businesses, introduced last week at a reception at the King Mansion in Harrisburg, hail from across Central Pennsylvania, as well […]

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Podcast: Childcare challenges

The challenges for childcare providers have not eased since the pandemic. If anything, they have grown steeper, as providers struggle to retain and attract workers at a time of rising wages. But if business leaders have learned anything over the last few years, it is that working parents need access to quality childcare if they […]

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Land-use fights flare across Central PA

The ground may be cold but battles over land use in Central Pennsylvania are heating up. Residents and developers are clashing on several fronts across the region. Not surprisingly, proposed warehouses are among the sharpest points of contention. Large-scale solar projects have triggered outcries, as well. But disputes also have arisen over housing, most notably in […]

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Nonprofit sues bank after alleged account fraud

Fraudsters drained nearly $250,000 from bank accounts of the Center for Independent Living of Central PA, and the Harrisburg-based nonprofit wants its bank, Mid Penn Bank, to refund the money, according to a lawsuit filed last week in Dauphin County court. The Harrisburg-based bank allegedly failed to enforce “commercially reasonable” security controls on the accounts and thus […]

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Court ruling could prompt millions in corporate tax refunds

Thanks to a recent court ruling, the commonwealth of Pennsylvania could be on the hook for more than $100 million in tax refunds to businesses. The ruling came in a case that arose over provisions outlining how companies can use past losses to lower their tax bills. Some corporate taxpayers have claimed, successfully, that provisions […]

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Local agencies win money, role in new small-biz funding program

State officials fired the starting gun and now economic-development officials across Central Pennsylvania are off to the races. In an announcement Sept. 13, the Department of Community and Economic Development unveiled the local agencies that will play a role in distributing $246.7 million to small businesses statewide under a federal program called the State Small […]

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Lancaster firm pitches high-tech approach to tracking Covid-19 risk

Contact tracing is turning into a mess rather than an effective tool to stop Covid-19. People aren’t cooperating, contact tracers are becoming overwhelmed and the virus continues to spread at a record rate. “It’s almost like we’re at a dead end with that approach,” said Victor Owuor, chief product officer at Lancaster-based investment firm Aspire […]

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York-area manufacturer gears up for life, uncertain economy after shutdown

When its doors reopen this month, York County manufacturer Weldon Solutions will be proceeding with caution: The company plans to bring back a portion of its 40 workers at a time.  “I want to see what it looks like to bring more and more people in,” said Travis Gentzler, Weldon’s president. “I don’t want to […]

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