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Despite headwinds, deals reshape region’s corporate players in 2024

High interest rates hampered mergers and acquisitions for much of 2024, as did uncertainty over the outcome of the presidential election. Nonetheless, Central Pennsylvania saw plenty of dealmaking over the last year. The roundup below includes the usual suspects like banks and insurance brokerages, but it also features companies that make hammocks, home runs and […]

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Guv moves to prevent power-price spike

If there’s no fix by this summer, flawed power market rules threaten to saddle Pennsylvania homes and businesses with billions of dollars in extra costs for electricity, according to a regulatory complaint lodged this week by Gov. Josh Shapiro. The complaint, filed with federal energy regulators, seeks to change certain rules governing the cost of […]

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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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Regional factory jobs stable, but uncertainty looms

After the disruption of the Covid-19 pandemic, the job market is returning to normal for manufacturers in Central Pennsylvania, according to a recent survey by their regional trade association. However, manufacturers face an uncertain year ahead as they absorb the potential for new tariffs promised by President-elect Donald Trump. Depending on how they are applied, […]

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Penn State Health

Sam Wetherill has been named chief pharmacy officer at Penn State Health effective Dec. 30. It is a new position for the regional health system based in Dauphin County. Wetherill worked previously at Omnicare, a long-term care provider in King of Prussia, and at ChristianaCare, a health system based in Delaware. Wetherill is also a U.S. Army […]

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$15M gift to speed growth of Lancaster-based lender

Earlier this year, leaders at Lancaster-based Finanta Credit Union put together a five-year growth plan. Thanks to a $15 million gift from a familiar benefactor, the plan is likely to move much faster. Finanta was one of 199 organizations nationwide to receive donations this year from MacKenzie Scott, the ex-wife of Amazon CEO Jeff Bezos and a growing philanthropic […]

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UPMC renews major leases in capital area

Pittsburgh-based health system UPMC has forged long-term renewals for 724,096 square feet of medical office and clinical space spanning eight buildings in Central Pennsylvania. The landlord is National Healthcare Properties, a real estate investment trust. The lease renewal was facilitated by Lemoyne-based NAI CIR, which did not disclose the specific properties involved. “This transaction not […]

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Cultural Alliance of York County

Amy Spellman has been named development director of the Cultural Alliance of York County effective January 2025. Spellman comes to the Cultural Alliance with nearly 15 years of development and leadership experience for organizations in Lancaster, Millersville, Philadelphia and New York City. She was previously director of fundraising and community partnership at HDC MidAtlantic, a […]

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UPMC

Elizabeth Ritter has been named president of UPMC Carlisle. She had been interim president of the Cumberland County hospital since September following the departure of former president Jarrod Johnson. Ritter, who has worked at UPMC since 2013, has been president of UPMC Harrisburg, UPMC Community Osteopathic and UPMC West Shore since July. She was previously COO […]

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Brown Plus

Deborah Bowman, Scott Henry Ashley Hershey have been named principals at regional accounting and advisory firm Brown Plus effective Jan. 1. Bowman has been the firm’s COO/CFO and will now be COO/principal. She has more than 35 years of experience, including 12 at Brown Plus. Based in the firm’s Camp Hill office, she supervises administrative, HR, […]

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Developer eyes townhomes on former Dentsply campus

It has been nearly a year since the former Dentsply campus in York city changed hands, fueling hopes for the property’s redevelopment. Hopes are now turning into blueprints. Developer York Realty Partners LLC has outlined plans for 62 townhomes on a portion of the 17.3-acre campus. The townhomes, dubbed the Towns at York Creek, would rise on parking lots behind […]

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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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Capital-area flex building fetches $1.9M

A partnership called Rockstone Leasing PA LLC paid $1.9 million for a flex building at 7813 Derry St. in Swatara Township, Dauphin County, according to county records. Rockstone is affiliated with a California-based trucking company, Divine Transportation, which plans to open a terminal at the Derry Street site, according to Dmitry Chernov, a business manager for Divine. The […]

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What would it take to end PA taxes on overtime?

President-elect Donald Trump made hay during the campaign with pledges to end taxes on tips and overtime pay.  It’s unclear whether the proposals will gain traction in the U.S. Congress, given their potential cost. But the debate is likely to play out in Harrisburg, as well. In recent weeks, Pennsylvania lawmakers have floated proposals to […]

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WellSpan, UnitedHealthcare end stalemate on employer plans

After missing an October deadline, WellSpan Health and UnitedHealthcare have agreed to renew a key reimbursement contract. The multiyear agreement, which took effect Dec. 15, means WellSpan providers are once again in-network for about 35,000 people in Central Pennsylvania who are covered by UnitedHealthcare through the workplace. The deal caps weeks of uncertainty for patients. They faced higher costs […]

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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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Union drops charges against pork processor

A union representing workers at a Lancaster pork processing plant dropped labor charges it filed against Clemens Food Group, which bought the plant earlier this year and then closed it, idling more than 190 workers. The United Food and Commercial Workers Union Local 152 filed a grievance in October with the National Labor Relations Boar alleging that Clemens […]

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Lancaster firm plans to buy the building it’s leasing

Seven Trees Woodworking LLC, a custom millwork and furniture maker, is planning to buy the 28,304 square-foot industrial building the company has been leasing since 2020. The company is poised to pay $2 million for the property, which is at 124 King Court in Earl Township, Lancaster County. The building had been home to Martin’s Chair, […]

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