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    Indiana County Revolving Loan Fund To Help New Business

    1/19/2017
    At yesterday’s meeting of the Indiana County Commissioners, Angela Campisano, Economic Development Specialist with the Indiana County Office of Planning & Development presented the following resolution:  “The Office of Planning & Development recommends to the Board of Commissioners a request for a $250,000 term loan from the Indiana County Revolving Loan Fund (RLF) to Robert Gordon Industries LTD d/b/a Gordon Sinclair and Affiliate (Gordon Sinclair).  Gordon Sinclair was formed in 1989 and is a promotional products supplier of custom decorated bags, drinkware, gifts and other assorted products which it decorates in its factory with the logos and advertising messages of its customers.  The Company will be located at 771 Indian Springs Road (previously occupied by Swanson Industries).  The loan proceeds will be used to partially fund machinery and equipment.  The interest rate will be fixed at 2.85% for a term of 120 months.  The RLF funds shall be leveraged by funds from CNB Bank, the Pennsylvania Industrial Development Authority Equipment and owner contribution.  The borrower will create fifty full-time jobs as a result of this project over the next three years.” 

    The resolution passed unamiously with Commissioner Chairman Mike Baker making comment accordingly:  “I want to thank the Indiana County Office of Planning & Development and its Executive Director Byron G. Stauffer, Jr. for their leadership and hard work in bringing Gordon-Sinclair to Indiana County.  There were a number of other locations within Pennsylvania, as well as in New York and Florida that were under consideration”, Baker said.  “It was a concerted effort on the part of many people and organizations to put this plan together.  We’re very pleased to welcome the company here and we acknowledge and recognize the efforts of everyone involved in making that happen.”

    “Gordon Sinclair started its search for a new plant location,” said Robert Gluck, founder and CEO, “with several states on our list.  Without any reservation, I can say that Indiana County worked harder than anyone else to help us find a building, to connect us to numerous State of PA contacts for financing and incentives, for equipment financing through the County and even to help us find a local bank to work with.  Angela Campisano and Byron G. Stauffer, Jr. from the Indiana County Office of Planning & Development along with their partners Tom Seasoltz and Paul Cooney from ABCD Corporation have been our guiding lights throughout this process and we couldn’t be more thrilled to be expanding our operations to Indiana County.”

    Representative Dave Reed (R-62nd Legislative District) said:  “I applaud our state and county officials who see the tremendous opportunity to attract Gordon Sinclair’s expansion here to Pennsylvania and more specifically Indiana County.  The 50+ jobs that will be injected into our labor force is fantastic and I am fully confident that all of our partners in the Indiana County Center for Economic Operations, will work together in not only helping grow Gordon Sinclair, but to attract other business opportunities to our region.”

    Senator Don White (R-41st Senatorial District) commented, “This is positive economic news for Indiana County that is long overdue.  Gordon Sinclair’s decision to invest in Pennsylvania instead of another state is most welcome and further demonstrates that Indiana County’s labor force, quality of life and infrastructure are some of the best in the nation.  I hope this is the first of many good economic news stories for our community in 2017 and beyond.”

    Kevin D. Lazor, Administrator at Pennsylvania CareerLink®/Indiana County began immediately to work with Gordon Sinclair to provide workforce candidates to fill the positions anticipated. “The PA CareerLink®/Indiana County Management & Staff are pleased to be part of the team serving Gordon Sinclair. We are excited about the opportunities having them expand in Indiana County will bring.  We also look forward to working with their Human Resource staff to fill their needed positons and help them in their transition into our county. We wish them much success in their transition and future business endeavors.” said Lazor.

    The Indiana County Revolving Loan Fund (RLF) provides existing businesses as well as start-ups with funding for real estate (land and buildings), machinery and equipment and working capital, and other eligible costs.  When alternative sources of financing seem inadequate to help a business expand or grow, the Indiana County RLF Program is a low-interest option.  Indiana County administers the Revolving Loan Fund (RLF) to fill potential funding gaps.  One objective of the RLF financing is to advance projects that will create or retain jobs. These jobs should directly result from receiving the loan, and business owners and entrepreneurs will be asked to create and retain jobs within Indiana County. The level of jobs will be based on the level of funding received.  The process requires that a business submit much of the same information they would normally provide to a bank when applying for financing.  The business can start this process by contacting Angela Campisano to discuss a project. Angela can be reached via telephone at (724) 465-3870, extension 3873, or through email at acampi@ceo.co.indiana.pa.us. If it is determined that a project meets the objectives of the program, the business will move on to the next step and be asked to submit the application and supporting documentation. 

    Established in 1994, the Indiana County Center for Economic Operations (CEO) is a countywide public-private partnership serving Indiana County, and is dedicated to the overall growth and prosperity of the county’s business community.  The affiliate members of the CEO are the Indiana County Board of Commissioners, the Indiana County Chamber of Commerce, the Indiana County Development Corporation (ICDC), the Indiana County Tourist Bureau and Indiana University of Pennsylvania (IUP).

  • Thu, 14 Dec 2017 21:51:51 +0000

    Ahead of the Curve: New housing strategy and investment plan hopes to rejuvenate downtown Altoona

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    BY R. BROCK PRONKO
    Regional Business Analyst

    Altoona, Pa - The Elizabeth Apartments, a newly-renovated 20- unit apartment building in downtown Altoona, is scheduled to open in January or February 2018. The building is the marquee project of the Altoona Housing Strategy & Downtown Investment Plan.

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  • Thu, 14 Dec 2017 21:51:53 +0000

    CBICC celebrates excellence in business with third annual awards ceremony

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    BY SPENCER MYERS
    editor

    State College, Pa. - The Centre County business community gathered at the Nittany Lion Inn on Dec. 7 to celebrate the region’s economic leaders and organizations that keep the region growing.

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  • Thu, 14 Dec 2017 21:51:53 +0000

    Reforms expected for National Flood Insurance Program

    BY R. BROCK PRONKO
    Regional Business Analyst

    The National Flood Insurance Program (NFIP), which was temporarily extended in September, will expire Dec. 8 unless it’s extended again, or reauthorized by Congress. The Biggert-Waters Flood Insurance Reform Act of 2012, passed by Congress and signed into law by President Obama in 2012, extended the NFIP for five years and required significant reforms to the program.

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  • Thu, 14 Dec 2017 21:52:00 +0000

    INDEPENDENT INSURANCE AGENCIES

  • Thu, 14 Dec 2017 21:52:04 +0000

    Blair County pushes through population decline with workforce development

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    BY SPENCER MYERS
    editor

    According to census estimates from the American Community Survey, from 2010 to 2015, Blair County’s population decreased 1,458 or 1.1 percent. The survey also indicates a specific decrease in the younger population in the ages of 1 - 24.

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  • Thu, 14 Dec 2017 21:52:05 +0000

    A family that works together, stays together

    BY R. BROCK PRONKO
    Regional Business Analyst

    Family-owned businesses were once quite common, from farms to mom-and- pop shops to giants of industry such as Walmart, Koch Industries and Bechtel. Parents passed their businesses on to their children when they retired, as their parents had done with them.

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  • Thu, 14 Dec 2017 21:52:08 +0000

    COMMERCIAL REAL ESTATE AGENCIES

  • Thu, 14 Dec 2017 21:52:08 +0000

    FOR THE RECORD

    NEW CORPORATIONS

    BEAVER

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  • Thu, 14 Dec 2017 21:52:09 +0000

    Centre Foundation awards more than $54,000 in annual grants

    STATE COLLEGE, PA – Centre Foundation recently selected 25 local organizations to receive grants from this year’s field-of-interest funds, totaling more than $54,000.

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  • Thu, 14 Dec 2017 21:52:10 +0000

    State establishes new apprenticeship program

    HARRISBURG, PA (AP) – Gov.

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  • Fri, 15 Dec 2017 16:46:23 +0000

    Where Pittsburgh ranks in terms of millennial home ownership

    Millennial home ownership varies from city to city throughout the U.S. depending on various factors like cost of living. Los Angeles is the most expensive metropolitan area for millennials, those born between 1982 and 2000. The average home purchased in and around L.A. by someone from that generation is $560,164, according to data by Adobo. Millennials are often first-time buyers, which results in cheaper homes, about 78 percent the average home price. The data assumes a 15 percent down payment,…
  • Fri, 15 Dec 2017 16:23:44 +0000

    Checkers wants 24 Pittsburgh sites within five years

    Tampa-based chain driving national expansion.
  • Fri, 15 Dec 2017 15:49:26 +0000

    New CMU program to combine business knowledge and analytics

    The first cohort will start in August 2018.
  • Fri, 15 Dec 2017 14:47:47 +0000

    Well-known media placement professional changing jobs

    After 28 years, Marsha Gavula is changing companies.
  • Fri, 15 Dec 2017 14:26:54 +0000

    After Hours: Penn State opens entrepreneurial center in New Kensington

    Here are photos from the grand opening of The Center, a new entrepreneurial hub in Westmoreland County that will provide access to the Corner Launchbox entrepreneurial programming, as well as active, membership-driven co-working space, operated by Pittsburgh's Beauty Shoppe, which also manages locations in Pittsburgh and Cleveland, Ohio. The project, as well as the related New Kensington Corridor of Innovation, which spans five blocks of New Kensington's Fifth Avenue, is led by Penn State New Kensington,…
  • Fri, 15 Dec 2017 13:35:43 +0000

    Lawrenceville boutique hotel construction begins

    Tryp by Wyndham hotel will feature two restaurants at former site of Washington Education Center, developer tells community meeting.
  • Fri, 15 Dec 2017 13:26:03 +0000

    CNX Resources acquiring Noble's stake in Cone

    Newly formed CNX Resources — the former natural gas division of Consol Energy Inc. — has reached an agreement to acquire its former joint venture partner Noble Energy's stake in a Canonsburg-based pipeline and natural gas gathering master limited partnership. CNX (NYSE: CNX) announced it would acquire Noble's 50 percent membership interest in Cone Gathering LLC for $305 million and the release of claims. Cone Gathering owns the general partnership interest in Cone Midstream Partners LP (NYSE:…
  • Fri, 15 Dec 2017 13:11:27 +0000

    Alcoa to reopen three Indiana smelter lines, if neighboring town agrees

    Alcoa plans to restart its smelter in southeast Indiana, one of only six throughout the country, but the company may have to contend with new local laws regarding mining. Pittsburgh-based Alcoa (NYSE: AA) plans to put three smelter lines back to work at the Alcoa Warrick Operations in the second quarter of 2018, creating 275 jobs, according to the Evansville Courier & Press. However, city council in Boonville, Ind., has banned mining for coal, gas, oil or other minerals within Boonville or anywhere…
  • Fri, 15 Dec 2017 12:54:21 +0000

    URA extends time with Millcraft for sale of Ohio River redevelopment site

    The redevelopment will include 850 residential units, some of them listed as affordable, and a marina plus office space, hotel retail and restaurants plus access to the Three Rivers Heritage Trail.
  • Fri, 15 Dec 2017 12:52:20 +0000

    Plans for the Riviera at Pittsburgh Technology Center take a step forward

    The six-story office building would occupy one of the final unused parts of the Pittsburgh Technology Center.
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