A federal court has approved a settlement in a data-breach lawsuit brought against Fulton Bank.Under the agreement, the Lancaster-based bank will pay $750,000 to set up a fund to compensate victims of the breach, which hit a Fulton Bank vendor rather than the bank itself. The bank is not admitting any liability for the breach, nor […]
One of Pennsylvania’s most illuminating companies is under new ownership.Keystone Fireworks, which has stores across the region, has been acquired by Argonne Capital Group, a private equity firm based in Atlanta. The transaction closed earlier this year, according to an Argonne spokesperson, who declined to provide additional details. Financing was provided by Alignment Credit, a New York-based financing […]
The bankrupt owners of an uptown Harrisburg apartment complex want to hire a firm that specializes in real estate liquidation to sell the property in an auction.In a motion filed in bankruptcy court, apartment owners Uptown Partners LP are seeking court approval to hire Hilco Real Estate LLC to oversee a sale of the complex, known as Governor’s Square.According to […]
The High family made headlines in early 2022 when members donated their shares in family-owned High Industries to their family-founded nonprofit, the High Foundation.Their aim was to multiply the foundation’s charitable impact by linking it to the fortunes of the Lancaster County-based company, which had revenue of $570 million in 2021.The value of the gift was not disclosed at […]
Under an executive order signed yesterday by Gov. Josh Shapiro, the state plans to marshal government and private-sector resources to help small, diverse businesses win a bigger share of state spending.The order builds on efforts by Shapiro’s predecessor, former Gov. Tom Wolf, to diversify the ranks of state contractors. The efforts have made progress but it […]
Supply chains used to be something of an afterthought for most companies. They would fix it and forget it.But over the last couple of years, supply chains have emerged as a critical element of business strategy, in part because they have been so hard to get right.In this episode of the York County Economic Alliance […]
Garden Spot Communites, a New Holland-based senior-living provider, is extending its footprint into the Philadelphia suburbs.The nonprofit has agreed to affiliate with Frederick Living, a senior-living community in Montgomery County. Terms of the deal were not disclosed. But it is expected to close in early 2024. Garden Spot CEO Steve Lindsey will lead the combined organization, […]
Millersville, Shippensburg and several other state-sponsored universities are partnering with Google to offer professional certificates in fields such as cybersecurity, data analytics, digital marketing and project management.Courses leading to the so-called Google Career Certificates will be available to both students and non-students interested in burnishing their resumes. Students will be able to earn the certificates — and gain […]
A publicly traded hotel company founded in Harrisburg is going private in a deal valued at roughly $1.4 billion.Hersha Hospitality Trust, now based in Philadelphia, has agreed to be acquired by KSL Capital Partners, a Denver-based private equity firm that specializes in travel and leisure businesses.Under the deal, KSL is paying $10 per share for Hersha, […]
State authorities on Friday disclosed what they say was a widespread bank-fraud operation in Central Pennsylvania that drained nearly $2 million from the accounts of victims.Two men have been arrested in connection with the fraud but a criminal complaint lists nine other people.More charges are expected, according to the Pennsylvania attorney general’s office, which is […]
The city of Harrisburg spent about $150 million on contracts for goods and services between 2017 and 2021.Slightly more than 7% of the total went to Black-, women- veteran-, and other minority-owned contractors, according to estimates in a study published last fall on contracting disparities in Pennsylvania’s capital. If spending had been in line with the […]
Can Central Pennsylvania become a hub for innovations in telemedicine and other health care technologies?That’s the hope of a new consortium coming together to craft a plan for getting us there. The group includes a who’s who of local economic development agencies, health systems, colleges and private-sector players, including Lancaster-based Emerald Asset Management and Siemens Medical Solutions USA. But […]
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, the collaborative […]
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 an […]
Two Lancaster-based digital marketing agencies have come together as one. But for now, they are continuing to operate under their existing names.The firms are YDOP and WTM Digital, which offer similar services but for different clients. YDOP, which trademarked the term “near-user marketing,” works primarily with companies around ther U.S. seeking locally focused digital marketing. WTM Digital, formerly […]
Kinsley Properties and Royal Square Development & Construction have formed a joint venture to convert a vacant office building in downtown York into a 43-unit apartment.The 38,000 square-foot building is the former Fox Bakery at 204 N. George St., not far from WellSpan Park. Construction on the $7 million project began this week and is expected to wrap up […]
Rising interest rates. A push back to the office. The boom in ecommerce and warehousing.Plenty of factors are influencing the real estate market nationally. But what is the market like locally?John Birkeland of Rock Commercial Real Estate, Jason Phillips of Coldwell Banker Realty and Shanna Terroso, CEO of the Realtors Association of York and Adams […]
Two years after christening a brand-new headquarters in Cumberland County, West Shore Home has opened its third corporate office.This one is an 82,000 square facility in the Dallas suburb of Irving, Texas, that includes office space for more than 120 employees. “West Shore Home is growing at an explosive rate and this is the next step in our goal to […]
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