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VC firms land government funding

State officials are directing federal funds toward venture capital firms they hope can jumpstart early-stage tech companies in Pennsylvania. The firms are Allegheny County-based BTVC Fund I LLP, which is receiving $1.5 million, and Atlanta-based Metallum Ventures LP, which is getting $2.25 million. The funding, announced yesterday, comes from the State Small Business Credit Initiative, a federal program that […]

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Developer weighs new project in Lancaster area

High Real Estate Group LLC is taking the first step toward building a mixed-use development next to the suburban headquarters of Armstrong World Industries in Manor Township, Lancaster County. High has struck an agreement with Armstrong World to buy 476 acres south and west of the manufacturer’s campus, which sits off Columbia Avenue west of Lancaster city. Terms of […]

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Court sides with solar firm in zoning battle

Gratz borough in Dauphin County failed to properly advertise a meeting where it set stricter zoning standards for solar energy systems even as a company was seeking permission to build a 17-megawatt project there. That was the ruling last week from a three-judge panel of Pennsylvania’s Commonwealth Court, which upheld a 2022 decision by Dauphin […]

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Apple auto biz to be sold

The Stewart Companies has agreed to sell its Apple Automotive dealerships to a Lehigh Valley company, as the York-based holding company focuses on its other businesses, The buyer is Allentown-based Ciocca Dealerships, which operates 42 dealerships and 12 collision centers in Pennsylvania and New Jersey, including in the Harrisburg and State College markets. Apple operates 10 dealerships, six collision […]

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Developer loses appeal over denial of mixed-use project

A Lancaster County developer has lost its bid to overturn a zoning decision blocking a mixed-use development in Manheim Township. In a ruling this week, a county judge upheld the township’s denial of plans for Oregon Village, a proposed development that would bring housing, offices, shops and a hotel to a nearly 76-acre tract that […]

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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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Defamation claim raised in suit over fraud loss

Mid Penn Bank is firing back at claims it did not adequately protect a nonprofit from fraud. In a legal filing this month, the Harrisburg-based bank alleges that the Center for Independent Living of Central Pennsylvania harmed the bank’s reputation in a press release issued in February announcing a lawsuit against the bank. In the press release, the center claimed […]

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Regional fireworks retailer sold

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 […]

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October sale sought for beleaguered Harrisburg apartments

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. […]

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Foundation discloses value of High Industries stock donation

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 […]

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Shapiro order aims to boost small-biz contracting

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 […]

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Podcast: Logistics

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 […]

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Senior-living organizations to merge

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 […]

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State schools, Google partner on credentialing

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 […]

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Hotel company Hersha poised to go private

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 […]

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Alleged bank fraud hits local, national targets

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, […]

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