CBICC INSIGHT INTO THE ISSUES, INDIVIDUALS, AND ACTIVITIES THAT ARE SHAPING ECONOMIC GROWTH IN CENTRE COUNTY
in this issue JANUARY 2015 | VOLUME 2, EDITION 1 1 CBICC unveils new economic development branding 1 Centre County companies benefit from Keystone Innovation Zone improvements 2 CBICC/CCIDC successful in adding more acres to KIZ zone 3 2014 Centre County KIZ Tax Credit recipients 3 CBICC applauds increases to federal research accounts 3 Economic Developments in Brief 4 Read front + Centre in the Centre County Gazette
CBICC Mission One of the largest chambers/ economic development organizations in Pennsylvania, the Chamber of Business & Industry of Centre County is the unified voice of businesses of all sizes and industry sectors in Centre County. The CBICC’s mission is to promote the well-being and growth of commerce and industry, while striving to maintain a high quality of life for those who live, work and do business in Centre County. Ted McDowell Senior Vice President, AmeriServ Bank Chairman of the Board Bill Joseph Senior Vice President, First National Bank Vice Chairman of the Board Vern Squier President and CEO
CBICC unveils new economic development branding The CBICC is beginning 2015 with new branding for its economic development mission under the banner of the Centre County Economic Development Partnership. The Partnership comprises a growing group of public-private partners that support the Chamber’s economic development mission and 3B33 initiative to grow the private sector economy to one that generates $3 billion in annual economic output by 2033. Marketing materials will raise additional awareness about the partnership and collective efforts underway to actively recruit new businesses to the county; retain existing businesses and enable them to grow and pave the way for successful business startups through enhanced support of local entrepreneurs. The logo and tagline – “BUSINESS THAT’S RIGHT IN THE CENTRE!” – is designed to promote Centre County as an attractive business destination. It will be used in
economic development marketing materials targeted toward site selectors, corporate decision makers and key economic development and government partners. These materials will showcase the advantages of locating in the county and region.
Centre County companies benefit from Keystone Innovation Zone improvements The state’s Keystone Innovation Zone program provides tax credits to start-up and new technology companies. In 2014, more than $17.1 million in KIZ Tax Credits were awarded by the Department of Community and Economic Development to 227 eligible companies throughout the state, an increase of about $2 million over 2013 awards. Within the I-99 Innovation Corridor KIZ, which includes Bedford, Blair and Centre counties, 14 companies were awarded more than $1.07 million in Pennsylvania tax credits, including eight companies receiving awards for the first time totaling $549,844. All but two of the 14 companies are located in Centre County. Available information dating back to 2008
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shows that in the I-99 Innovation Corridor KIZ, 38 companies have been awarded more than $7.7 million through the KIZ Tax Credit Program.
CBICC/CCIDC successful in adding more acres to KIZ zone As coordinator for the I-99 Innovation Corridor KIZ, the CBICC was successful in getting approval from DCED in December 2014 on a request to modify the zone’s footprint, adding 5 acres. Two sites are located in Centre County; three in Blair County. Established in 2004, the Zone’s original footprint contained 965 acres. As a result of the recently approved application, the total acreage is now more than 970 acres. While the increase of 5+ acres seem slight, because of the application requirement of swapping out acreage no longer
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3B33 Campaign Partner Profile Platinum Level Mount Nittany Health’s mission is simple: to make people healthier. Consisting of 260-bed Mount Nittany Medical Center and Mount Nittany Physician Group — a multispecialty group of more than 120 providers — Mount Nittany Health provides primary and specialty care services at a growing number of offices throughout central Pennsylvania. In addition to providing the highest quality care throughout the region, Mount Nittany Health strives to improve the health and wellness of its community through its many education programs, events, and health screenings. Mount Nittany Health’s commitment to a healthy community extends to caring about the condition of the local economy as well.
“I believe the collective business community has a responsibility to work together to help grow our existing business base and pave the way for new economic development opportunities and job creation.”
As a 3B33 Platinum Support Partner, Mount Nittany Health is working in close partnership with the CBICC to strengthen Centre County’s private sector. “Mount Nittany Health is extremely proud to actively support and engage in the mission to boost private industry and create a thriving local economy,” said Steve Brown, FACHE, President and CEO of Mount Nittany Health and a member of the CBICC Board of Directors. “As the second-largest employer in the county, it would be easy to just say we are already doing our part. However, I believe the collective business community has a responsibility to work together to help grow our existing business base and pave the way for new economic development opportunities and job creation.” Brown believes a diverse, strong economy that focuses on the needs of the entire region is ultimately good, not only for the community, but for the healthcare system as well. “We are deeply grateful for our ability to serve the healthcare needs of Centre County and the surrounding region,” Brown added. “We are equally proud to assist in the economic needs of the region as well through our support of the Chamber’s mission and the 3B33 initiative.”
-- Steve Brown, FACHE, president and CEO, Mount Nittany Health
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usable as KIZ, in reality 43+ acres were added in five different parcels located in Blair and Centre counties. Blair County was able to swap out 34 acres in its I-99 Enterprise Campus because mature companies ineligible for KIZ benefits now operate there. In return, the former Ben Secour Hospital Campus and Altoona-Blair County Airport were designated as KIZs, a combined total of 41 acres. Centre County was able to include Torron Group property located adjacent to the Zetachron Incubator, part of the originally established Innovation Corridor. Centre County also has three statedesignated Keystone Opportunity Zones, which provide significant state and local tax benefits for businesses locating within the zones. They include: - Moshannon Valley Regional Business Park, with a designation through Dec. 31, 2017 - Benner Commerce Park, with a designation through Dec. 31, 2022 - Titan Energy Park, with a designation through Dec. 31, 2023.
2014 Centre County KIZ Tax Credit recipients The following companies were awarded KIZ Tax Credits from the Department of Community and Economic Development: Biomagnetic Solutions, LLC Indigo Biosciences, Inc. Chromatan, Inc. Lasers for Innovative Solutions, LLC M-Mech Defense, Inc. Peconic, LLC Piezo Energy, Inc. PolyK Technologies, LLC Actuated Medical, Inc. SilcoTek Corporation Prescient Weather, Ltd. Quantum Vortex
CBICC applauds increases to federal research accounts As part of the Business for Federal Research Funding Coalition, the CBICC and dozens of chambers of commerce across the country spent the past year urging Congress to pass an omnibus bill that robustly funds research – a key driver of the national innovation economy. The coalition focused its efforts on key agencies for research, including the National Institutes of Health, the National Science Foundation, NASA, and the Departments of Agriculture, Defense, Energy, and Homeland Security. The coalition said these are the accounts that were most in need of support and most in need of increased federal research accounts in the Fiscal Year 2015 Appropriations bill. As part of its work with the coalition, the CBICC traveled to Washington, DC with other members of the national coalition to speak with select U.S. House and Senate lawmakers. On Dec. 16, 2014, President Obama signed an omnibus bill that contained funding for research. Five of the accounts that had been the focus of lobbying efforts received increases over last year’s funding level, two (Defense and NASA)
receiving large increases: - Defense (S&T): 4.3% - National Institute of Health: 0.8% - Energy: 3.1% - NASA: 5.4% - National Science Foundation: 2.1% - Department of Agriculture: 3.4% A detailed analysis of the science and technology funding by the American Association for the Advancement of Science is available here.
Economic Developments in Brief CBICC members named to PA Business Central ‘Top 100’ list CBICC members dominated the Centre County contingent of PA Business Central’s Top 100 individuals list. The Chamber congratulates: Vern Squier – CBICC President and CEO Bill Hayes, Kish Bank Richard Witt – AE Works Ltd. Roger Bagwell – Actuated Medical Joy Vincent-Killian – the Penn Stater Conference Center Dianna Meckley – SPU Federal Credit Union
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Steve Brown – Mount Nittany Health Michelle Damiano – Impressions, WHQ Judy Loy – Nestlerode & Loy Dorsey Houtz – Avail Technologies Sam Kerns – Mission Critical Partners Betsy Dupuis – Babst Calland Fred Marroni – Indigo Biosciences Todd Erdley – Videon Central, Inc. Jim Schaedler – Schaedler-Yesco Jeremy Frank – KCF Technologies Scott Lawhead – The Hite Company Greg Gunn – Gunn-Mowery, LLC Debra Leithauser – Centre Daily Times The full article is available here.
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Publisher Vern Squier President/CEO, Chamber of Business & Industry of Centre County Writer Lesley Kistner Communications Director LKistner@cbicc.org
Read front + Centre in the Centre County Gazette