In the April 10, 2008 edition of the Economic Insider I outlined the 2008 priorities of the Economic Progress Alliance. As we have now reached the midyear point, I thought it appropriate to summarize progress made to date:
Organization
• formed and activated Board-driven advisory committees including Personnel, and Finance and Audit Committees
• completed the development of Capital Budget Plan and are currently implementing
• completed an Economic Progress Alliance Strategic Plan - to begin in September 2008
Outreach
• complete 250 Business Retention and Expansion visitations – in process, ongoing
• complete 15 business financings by year-end – not likely to be achieved for lack of lending resources. Application for $500,000 USDA relending program funds pending
• organize/co-sponsor four small business development seminars – two completed to date
• complete 12 (manufacturer) workforce training assessments – approximately 20 completed to date
• provide access to $30,000 for incumbent worker training – more than $200,000 training grants awarded to Crawford County firms in last year
Crawford Business Park
• prepare and lease 30,000 s.f. of additional manufacturing space – preparing more that 120,000 s.f. for three new tenants
• design, prepare and lease former Generant office space – rehabilitation completed – currently negotiating with potential occupants
• design, prepare and lease Dillon Center second floor – agreement in principal with potential occupant. Currently finalizing lease and design plan
• prepare Universal Well Training Center improvements – to be completed in October
• successfully conclude renewal of all expiring leases – all expired leases renewed to date
• rehabilitate 50,000 s.f. of roofs – current plan involves rehabilitating 120,000+ s.f. of roofs
• design and construct new East Entrance – to be completed fall 2008
Keystone Regional Industrial Park
• complete master land use plan – to be completed by year-end
• finalize electric and gas infrastructure plans – completed
• complete design and begin Phase I water system construction – design in process
• establish water connection with PPG – upon completion of two water lines
• sell at least 10 acres of land – working with prospective occupant
• construct at least one new facility – working with prospective occupant
• collaborate with regional partners to target high intensity water users for potential recruitment to the region – to be completed in September, 2008
• target Pittsburgh and Cleveland distribution businesses for recruitment to the region – prospect database development underway
Other Priorities
• achieve full utilization of Bessemer Street facility – in process
• sell final site(s) at West Mead Industrial Park – all but 2 aces are sold. Two prospects for remaining acres
• assist NW REC with marketing and development of Cambridge Business Park – on-going
• evaluate ownership options for residential properties – negotiating sale of Eldred Building
Thanks to the continuing efforts of our excellent staff and the Board of Directors of the Economic Progress Alliance, results to date indicate a strong potential for meeting and exceeding almost all of our 2008 priorities.
Until next time...
Mark Turner
News and Developments . . .
Joint Venture Tool & Mold has announced that it has acquired Ideal Tool Co., Inc., a deal they feel is a significant step in Joint Venture's vision for continued growth and expansion. Ideal Tool will be an operating subsidiary of Joint Venture and re-named Ideal Tool & Plastics, Inc.
Joint Venture, a PTR Group company, is a leading supplier of world-class, high-precision thermoplastic injection mold tooling for the automotive, electronics, aerospace, telecommunications, consumer and disposable medical supply industries. Ideal Tool has been providing high precision injection mold tooling as well as molded components to the automotive, medical, telecommunications and consumer products markets for more than 25 years. Joint Venture will utilize the production strengths of Ideal to answer its customers' need for world-class, high-precision thermoplastic injection mold tooling and complex, high-volume contract molding.
"This acquisition is an excellent fit. It enhances our capabilities, enables us to provide solutions and products that answer our customers' demands for best-in-class quality, innovation and consistency," stated Richard Moroco, Chief Executive Officer of Joint Venture.
Donald J. Smith, the former president of Ideal Tool, will remain as Director of Operations and maintain an equity stake in the company.
PTR is a multi-company business group headquartered in Sharon, PA that provides customers with world-class contract manufacturing of components and subassemblies in metal and plastics. PTR Group companies offer products and services to a broad range of OEMs, to organizations within the OEM supply chains, and to government and military customers. The PTR Group family includes ACCI Industries, American Cap Company, Joint Venture Tool & Mold and Ideal Tool & Plastics.
The Commonwealth Financing Authority at their June meeting approved funding from the First Industries Fund (FIF) program for 28 projects throughout the state, three of which are in Crawford County. This program, created three years ago, is designed to strengthen Pennsylvania's agriculture and tourism industries.
The Crawford County business receiving FIF assistance are Ronald and Janet Troyer, a $199,856 agricultural loan to build a dairy barn in Centerville; the Northwestern PA Railroad & Tooling Heritage Center, a $35,200 tourism planning grant for preliminary engineering and site assessment necessary to develop a site in Meadville; and the Crawford County Convention and Visitors Bureau, a $45,000 tourism planning grant to create a developer's kit, an information website and a comprehensive marketing plan to help attract high-end developers and park operators to Conneaut Lake Park.
Other recent loan activity in the county includes a $200,000 Small Business First loan to Rynd Home Farm in Cochranton to construct a bar and parlor building and purchase equipment. C&J Industries also was recently awarded $250,000 through the Meadville Redevelopment Authority Enterprise Zone Revolving Loan Fund and $200,000 through the NW Commission EDA Revolving Loan Fund for the purchase and installation of machinery and equipment.
If you are planning a project for your business, funding assistance covering many aspects of a project may be available to you through numerous sources. Contact Larry Morgan at the Economic Progress Alliance, 333-2299 x 227 for further information.
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first observed in Philadelphia on July 8, 1776
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Bristol, Rhode Island is noted for having the oldest, continuous celebration - since 1785
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in 1778, Gen. George Washington celebrated the day with a double ration of rum for his soldiers and an artillery salute
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in 1781, the Massachusetts General Court became the first state legislator to recognize Independence Day as a state celebration
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was not declared a legal federal holiday until 1941
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national population in July 1776 - approximately 2.5 million; estimated 2008 population - 302 million
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John Adams and Thomas Jefferson, the only two signers of the Declaration of Independence to become President, died on the same day - July 4, 1826
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the Liberty Bell, the symbol of our independence, weighs about 2,000 pounds and cost $225 to make
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about 150 million hotdogs are expected to be consumed by Americans this holiday
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commonly celebrated with public and private events such as fireworks, parades, barbecues, carnivals, picnics and baseball - continuing the vision of John Adams, who declared in 1776:
"It ought to be solemnized with pomp and parade, games, sports, guns, bells, bonfires and illuminations, from one end of this continent to the other, from this time forward forevermore."
The Meadville Council on the Arts has a full July schedule of concerts that are free and open to the public. Some of the concerts, presented in conjunction with Sally Wilcox-Santon and the Crawford County Care Center, will be held outside (weather permitting) at the Care Center so bring a chair, sit back and enjoy:
July 10 - Mid Summer Night Concert - NOWEPA Recorder Ensemble - Care Center - 6:30-8 p.m.
July 14 - Night @ the Pops - 4 Talented Teens - Market House, second floor - 7-8:30 pm.
July 17 - Mid Summer Night Concert - Picks & Hammers - Care Center 6:30-8 p.m.
July 21 - Night @ the Pops - Claude Braudeis, Classic Guitarist - Market House, second floor - 7-8:30 p.m.
July 24 - Mid Summer Night Concert - Emil & the Palookas - Care Center 6:30-8 p.m.
July 28 - Night @ the Pops - Sally Wilcox-Santon & Friends, special guest Alexandra Santon - Market House, second floor - 7-8:30 p.m.
July 31 - Mid Summer Night Concert - Sally Wilcox-Santon & Friends - Care Center 6:30-8 p.m.
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Economic Progress Alliance of Crawford County
764 Bessemer Street, Suite 101
Meadville PA 16335
814-333-2299
07/17/2008