State lowers Corporate Net Income Tax
The state recently lowered its Corporate Net Income Tax (CNIT) rate. Pennsylvania’s rate of 9.99 percent was second highest among the 44 states that levy a CNIT. The state will eventual lower t...
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Alcoa purchases annuity contracts
Alcoa Corp. recently purchased group annuity contracts that will facilitate the transfer of approximately $1 billion in pension obligations and assets for certain retirees and beneficiaries. The mo...
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PennEnergy, Oklahoma company to market, deliver natural gas
PennEnergy Resources, an investments portfolio company in the Appalachian Basin, and Oklahoma-based Williams, a clean energy transport, storage and delivery solutions company, recently agreed to suppo...
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Pittsburgh investors partner with Tennessee bank
A group of investors from Pittsburgh-based Victorian Finance have partnered with Tennessee-based Farmers Bank to offer management experience, expertise, and growth potential. "Sonny" Bringol, Jr., ...
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L.B. Foster sells track component business
L.B. Foster Co., a Pittsburgh-based company, recently sold its Canadian rail spikes and anchors track components business to Ontario-based Gerdau Ameristeel Corp. for $7.8 million. “The sale of t...
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Pennsylvania American Water invests $40 million in Lackawanna and Luzerne counties
Pennsylvania American Water plans to invest more than $40 million to upgrade seven dams in Lackawanna and Luzerne counties. Six dams are in Lackawanna County, and one is in Luzerne County. The pr...
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Credit: Arcadia Cold
Arcadia Cold breaks ground on cold-storage facility
Arcadia Cold, a company providing third-party handling, storage, distribution, and value-added services for the food industry, recently broke ground on its Hazleton Cold Storage Facility off I-81. ...
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Credit: PPG
PPG unveils safer, more-sustainable spray coating for beverage cans
Pittsburgh-based PPG recently launched an enhanced internal spray coating for aluminum beverage cans that does not contain bisphenol-A (BPA) or bisphenol starting substances and which increases produ...
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Manufacturers to bear brunt of tax hike under proposed Inflation Reduction Act
If enacted, the Inflation Reduction Act of 2022 currently being considered by Congress would throttle American manufacturing and macerate an industry vital for Pennsylvania’s economic growth, expert...
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PIDA approves eight low-interest loans
The Pennsylvania Industrial Development Authority (PIDA) recently approved eight low-interest loans for businesses in six counties. Btec Solutions, through the Bucks County Economic Development C...
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Pa.-based Vishay Intertechnology gains R&D grant for Italian plant
Malvern, Pa.-based Vishay Intertechnology Inc. recently received a grant for its facility in Italy to work on a project for developing processes that can control the energy transferred to chips during...
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Credit: Black Buffalo
Black Buffalo 3D partners for printer distribution
Black Buffalo 3D Corp., the Pennsylvania-based subsidiary of Big Sun Holdings Group, recently entered into a partnership with Presidio, a company focused on innovation in the real estate and construct...
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Savana raises $45 million for Digital Delivery Platform, go-to-market activities
Malvern-based Savana, a software company for banks and fintech, recently completed Series A funding, raising $45 million, which will go toward Savana’s Digital Delivery Platform and go-to-market act...
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Omega Systems launches managed IT compliance service
Reading-based Omega Systems, a managed service provider for highly regulated businesses, recently launched Smart Comply, a managed IT compliance service to help companies with cybersecurity risk manag...
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NASA-backed program selects Canonsburg’s Ansys for aviation sustainability project
Canonsburg-based Ansys announced Monday it will be part of a NASA-backed research project looking into alternative, sustainable aircraft fuel. Ansys’s simulation solutions will serve as a way to...
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Saint-Gobain purchases Canadian building materials manufacturer
French company Saint-Gobain, a manufacturer and distributor of construction and industrial materials and services, recently completed the purchase of Kaycan, a manufacturer and distributor of exterior...
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New Geisinger healthplex now operational in Pittston
A recent ribbon-cutting ceremony marked the Aug. 1 opening of the new $80 million Geisinger Healthplex CenterPoint facility in Pittston, Pa. The 124,000-square-foot outpatient specialty facility of...
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Wolf administration approves $16.4M for Ben Franklin Technology Partner Projects
Pennsylvania Department of Community and Economic Development Acting Secretary Neil Weaver announced Friday that the Ben Franklin Technology Partners would receive $16.4 million in Challenge Grant fun...
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Union Pacific signs historic locomotive modernization deal with Wabtec
On Thursday, Union Pacific announced it had reached a historic deal with Pittsburgh-based Wabtec Corporation to modernize the railroad. The deal feature 600 locomotive modernizations featuring a s...
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Max Solutions opens first plant in Bristol
Max Solutions, a differentiated specialty packaging company, recently opened its first facility in Bristol. “We believe our new factory is the most advanced packaging facility in North America,...
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