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Category: Economy

Economy

Tariff uncertainty rattles factory sector

When tariffs took effect last week, leaders at JLS Automation decided to hold off a few days on importing a piece of equipment due in from Canada.It was not the threat of the tariffs as much as it was the potential for congestion at the border as shippers tried to avoid the extra charges, said Craig Souser, […]

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Economy

Tariffs to hit billions in PA trade with Canada, China, Mexico

President Donald Trump is firing the first shots in a long-expected trade war that will affect billions of dollars of goods flowing in and out of Pennsylvania.Over the weekend, Trump signed executive orders imposing tariffs of 25% on goods from Mexico and Canada, and 10% on goods from China.Energy imports from Canada will be subject […]

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Economy

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 virtual-reality games. January: […]

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Economy

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 eliminate state income […]

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Economy

DoorDash touts results of pilot benefits program for PA drivers

App-based food-delivery service DoorDash disclosed yesterday the results of a pilot benefits program introduced for the company’s Pennsylvania drivers. The program addresses concerns that independent contractors such as DoorDash drivers lack the workplace benefits enjoyed by employees, such as retirement plans and health insurance.Under the program, the company has been contributing 4% of eligible drivers’ earnings […]

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Economy

Palmyra-based distributor cutting HQ, warehouse staff

A Palmyra-based specialty distributor plans to lay off about 100 people working at three locations in Lancaster and Lebanon counties by the end of this year.The move stems from an expected decline in business and resulting corporate restructuring, according to a layoff notice from the company, DAS Companies Inc. Efforts to reach the company yesterday were not […]

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Economy

Ports strike could spell supply-chain pain

Companies in Central Pennsylvania and beyond are bracing for a strike that could upend supply chains across the U.S.Workers who load and unload cargo at ports on the East and Gulf Coasts are poised to go on strike at midnight tonight, an outcome that looks increasingly likely to Peggy Stewart, international operations officer for Nexterus, a […]

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Economy

Fed rate cut seen locally as positive signal 

Yesterday’s half-point cut to interest rates will make businesses more comfortable with borrowing, particularly if they have an immediate need to spend.However, others may continue to hold off, anticipating further rate cuts and awaiting the outcome of the presidential election in November.That’s the view of local financial executives who spoke yesterday with biznewsPA shortly after […]

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Economy

Amid childcare shortage, Hanover nonprofit plans to boost capacity with new building

Amid widespread concerns about a shortage of childcare for working parents in Pennsylvania, the Hanover YWCA is aiming to expand its capacity and shrink its waiting list for spaces.The nonprofit is in the midst of a capital campaign to raise $10 million that will support construction of a new, three-story childcare center at the corner of North […]

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