As we begin to take a preliminary look at summarizing our collective efforts during 2007, it looks promising that by year's end we will have had another very good year. In a near future edition of the Economic Insider, I will be sure to provide a detailed analysis of the work completed during 2007 by the Economic Progress Alliance in support of the economy of the region.
However, of particular interest (given that 2006 was a record setting year in this category) is the continued strength and level of activities associated with financial assistance to businesses in Crawford County. To date, the Economic Progress Alliance has assisted 19 companies, providing financial assistance totaling $6,279,600 for projects valued at $13,741,050. Most importantly, these efforts have assisted in supporting the retention of 1033 jobs and the creation of 104 new jobs.
While these numbers are not final as we continue to work toward closing a few more deals before year-end, they do serve as an indicator of continuing confidence in the region by area companies.
A sincere thank you to Krista Ikirt of our staff and the loan review committee comprised of Clark Hoffman, Dick Burkhart, Dennis Frampton, Bill DeArment, Tom Cholak and Jill Groves for all their efforts.
Until next time..
Mark Turner
Construction of a new building for Moon Tool and Die at Crawford Woodlands has begun. The very first stages began this week and if the promising weather forecast holds out, the pouring of concrete and construction of the facility should follow in a very timely manner.
The new 17,000 square feet building is about twice the size of their current facility and will give Moon Tool much needed space for production and warehousing of product. The current 22 company employees will be retained with additional employees anticipated as the expansion moves forward. The company expects to move into the new facility in March or April, 2008.
Completion of this project leaves approximately four acres available for development in Crawford Woodlands.
More than 10.5 million turkeys are produced each year in Pennsylvania, making the Commonwealth eighth in the production of this Thanksgiving staple.
Pennsylvania is home to places like Turkey Run, Turkeyfoot, Turkey City and Turkeytown. Ben Franklin, of course, that reputed Pennsylvanian, wanted the wild turkey as the national bird but as we know wasn't successful. However, it is the official state game bird of South Carolina, Alabama, Oklahoma and Massachusetts.
Nationwide, a preliminary estimate of turkeys raised in the U.S. in 2007 is 272 million, up 4% from last year. Minnesota is top in turkey production with as estimated 46 million this year. In 2005, the number of certified organic turkeys on the nation's farmlands was 144,086. Most of these were in Michigan (56,729) and Pennsylvania (48,815). The 2007 forecast for receipts to farmers from turkey sales is $3.86 billion.
Production of 690 million pounds of cranberry, 1.6 billion pounds of sweet potatoes, 1 billion pounds of pumpkin, 1.8 billion bushels of wheat, and 841, 280 tons of green beans add to the dinner menu.
While all these crops are not just consumed on Thanksgiving Day, there is no doubt that the holiday has a big effect on the nation's economy. But the greatest effect of the day is the time to relax and spend with family and friends, and step back and truly appreciate what we have.
Happy Thanksgiving, everyone!
data from the U.S. Census Bureau
The Pennsylvania Center for Trade Development, in cooperation with the World Trade Center of Greater Philadelphia and the U.S. Commercial Service, welcomes participation in a business to business trade mission in Central Europe, March 31 - April 4, 2008.
Poland and the Czech Republic are located in the heart of Europe, making them a perfect gateway to the European Union market of 455 million customers as well as to the Eastern European markets. Poland, the eighth largest country in Europe, has a growing economy that is expected to continue to grow by an average of 5% per year for the next ten years. The Czech Republic is one of the most stable and prosperous post-communist countries with an economy that has been growing steadily since 1989. The rapidly growing purchasing power of Czech households and recent high spending patterns have resulted in more than 40 consecutive months of booming retail profits.
Targeted trade sectors for this trade mission include automotive; environmental products and technologies; IT and telecommunications; steel; construction materials and equipment; manufacturing machinery; transportation equipment; medical equipment; security, safety and defense equipment; aerospace; furniture and metal treatment.
Deadline to register is February 1, 2008. Companies are responsible for all travel and business related expenses including translators and drivers. Participation fee is $1150 for the first person per company, $250 for each additional person. For additional information and assistance, contact Dorte Heffernan at the NW Commission, 814.677.4800 x 110.
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Economic Progress Alliance of Crawford County
764 Bessemer Street, Suite 101
Meadville PA 16335
814-333-2299
12/21/2007