26A — January 25 - February 7, 2013 — Economic Development — Mid Atlantic Real Estate Journal
www.marejournal.com
E conomic D evelopment By Penny Cannella, Penn’s Northeast Penn’s Northeast, A year in review
N
ortheastern Pennsyl- vania boasts a diverse economy by design.
Northeastern Pennsylvania a desirable location for various industry sectors to grow and prosper. In 2012 Northeastern Penn- sylvania was successful in attracting, expanding and growing a diversity of com- panies. MAXIMUS, a leading pro- vider of health and human services worldwide, launched a new regional operations hub at Glenmaura Corporate Center in Moosic. MAXIMUS provides administrative pro- gram support to government programs such as Medicare, Medicaid and the Children’s
Health Insurance Program. Northwoods Paper Convert- ing (NPC) opened a 247,987 s/ f facility in East Stroudsburg. The company purchased and converted the former Excel Storage Products building. NPC provides paper convert- ing services to paper mills, printers and merchants. E. S. Kluft & Company, maker and distributor of Aireloom® and Kluft brand mattresses, began operations in a 99,000 s/f, state-of-the-art production and distribution facility in Humboldt Indus- trial Park North. The Neiman Marcus Group
opened a 198,400 s/f east coast distribution center in Cen- terPoint Commerce & Trade Park East, Jenkins Township, creating approximately 150 jobs The region also saw mul- tiple company expansions throughout the year. Good Health® Natural Products chose to establish a newman- ufacturing product line for their snack item “Veggie Stix” at their Pittston distribution facility. Mission Foods, one of the region’s largest manufactur- ing companies, expanded its operation in Crestwood Indus-
trial Park. They now occupy over 175,000 s/f of space and employ approximately 400. In an effort to further diver- sify our regional economy, the Northeastern Pennsylvania Regional Bioscience Initia- tive (NEPARBI), an 8-county collaborative, is working to le- verage the region’s numerous resources to retain, expand and attract the bioscience industry. Northeastern Penn- sylvania has the bioscience resources of regional educa- tional institutions and private sector industries necessary to grow bioscience industry jobs. Significant recent invest- ments in life sciences by criti- cal entities including colleges and universities, hospitals, economic development com- munities, private sector busi- nesses, governments and en- trepreneurs have positioned the region to further attract the industry. Business park development continues to rise. Wayne Coun- ty’s 252-acre Sterling Busi- ness Park now has 23 parcels available ranging from 3 to 30 acres. Luzerne County’s Cen- terPoint Commerce & Trade Park, which began develop- ment in 2005, has grown to approximately 5.5 million s/f in 20 buildings. In Lackawanna County, construction began on an $8.3 million Technology Incubator Facility in the Jes- sup Small Business Center, further enhancing the existing network of business incubators that encourage entrepreneur- ship and innovation in North- eastern Pennsylvania. Exploration of the Marcellus Shale natural gas play contin- ues to have a significant eco- nomic impact on the region. These are just a few of the major developments that Northeastern Pennsylvania saw in 2012. We look forward to continued success and are optimistic about what 2013 will bring. As always, we welcome the opportunity to provide site se- lection assistance to companies, brokers and site selectors con- sidering a northeast location. And remember, when you think northeast…….think Penn’s Northeast. Penny Cannella is presi- dent of Penn’s Northeast, an economic development marketing organization serving Pennsylvania’s Lackawanna, Luzerne, Monroe and Wayne Coun- ties. n
J u s t l i k e f i n a n c i a l a d v i s o r s recommend diversifying your portfo- lio our com- m u n i t i e s have worked strategically
Penny Cannella
and tactically to diversify our economic base. Being ideally located in close proximity to the Boston-Washington cor- ridor, coupled with a lower cost of doing business, makes
Northeast Pennsylvania Where Great Roads and Great Minds Meet
200
150
100
50
We have what you are looking for and we will help you nd it!
• 5 Major Interstate Highways and 16 Colleges and Universities • A strategic east coast location, 2 hours from New York and Philadelphia • 96 million people live within a 500-mile radius
1-800-317-1313 pennsnortheast.com
Made with FlippingBook - Online catalogs