fronttCentreCBICC INSIGHT INTO THE ISSUES, INDIVIDUALS, AND ACTIVITIES THAT ARE SHAPING ECONOMIC GROWTH IN CENTRE COUNTY

1

fronttCentre

in this issueMAY 2014 | VOLUME 1, EDITION 3

1 Chamber joins national call for increased federal research funding

2 CBICC: PREPing the region for economic growth

2 CBICC member companies make headlines on DCED’s Life Sciences Media Tour

3 Forum seeks to strengthen trade/business investment opportunities between United States, Ireland

3 Foreign investment opportunities focus of CBICC program

4 Economic Developments in Brief

4 CBICC in the News

5 CBICC in Action

members of Congress and the Obama administration.

>> Raising awareness among key business and government stakeholders about the correlation between R&D funding and the economy.

>> Coordinating strategy to maximize the collective impact of efforts to increase federal research funding.

In addition to the CBICC, other Pennsylvania chambers supporting the coalition are the Greater Pittsburgh and Philadelphia chambers of commerce.

A Washington, DC Fly-In is scheduled for Monday, June 9. At the event, coalition

Chamber joins national call for increased federal research funding

The Chamber of Business & Industry of Centre County and more than 53 nationwide chambers of commerce are advocating for increased research funding in the federal budget as part of the Business for Federal Research Funding coalition.

Headed by the Greater Boston Chamber of Commerce, the effort is also supported by Penn State University and the other 61 leading research universities that make up the American Association of Universities.

“We see first-hand the value of Penn State research to Centre County’s economy,” CBICC President and CEO Vern Squier said. “It continues to drive new business opportunities and create jobs as it leads to important advances in the technology, life sciences and many other fields. “

“Federal funding is critical to research universities that are strengthening the private sector economy not only in their own communities, but nationally as well.”

The coalition was formed because discretionary spending caps below the rate of inflation, along with sequestration cuts enacted by Congress, will severely limit federal research dollars by fiscal year 2015.

The coalition is responding by:

>> Pushing for sustained research funding growth across several areas of the federal budget, including those related to National Institutes of Health, the National Science Foundation, NASA and the departments of Agriculture, Defense, Energy and Homeland Security.

>> Engaging in lobbying efforts with

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 SquierPresident and CEO

PSU research by the numbers

848 - Total research expenditures in millions

400+ - Companies in research partnership with Penn State

537.3 - Federal research support in millions

54 - Percent increase in federal research support over past decadeSource: Penn State University, fiscal year 2013 Annual Report

2

fronttCentre

MAY 2014 | VOLUME 1, EDITION 3

members will meet with federal lawmakers, spreading the message that an adequate level of R&D funding for research universities such as Penn State is imperative to the long-term outlook for the nation’s economy. The CBICC will participate in the DC fly-in.

CBICC: PREPing the region for economic growth

The CBICC / Centre County Industrial Development Corporation arm, has long provided economic development assistance to new and existing businesses in Centre County as a state PREP [Partnership for Regional Economic Performance] partner and as a BREP [Business Retention and Expansion Program] partner long before then.

Implemented in July 2010 and replacing BREP, PREP is a statewide network of partners designed to work in concert to deliver vital business assistance services across 10 regions of the Commonwealth. The CBICC is part of the 10-county SEDA-COG region, which comprises Lycoming, Clinton, Centre, Mifflin, Juniata, Snyder, Northumberland, Montour, Columbia and Union counties.

Local and regional PREP partners have the experience and know-how to assist individuals who have an idea and need help with the basics of starting a new venture, from writing a business plan to securing necessary financing. PREP also meets the demands of existing companies that seek assistance in all aspects of successful business development and growth, from questions about equipment investments to workforce training.

For the CBICC/CCIDC, the face of the PREP partner program is Economic Team Specialist

CBICC member companies make headlines on DCED’s Life Sciences Media Tour

On the heels of the Corbett administration’s JOBS 1st On the Road tour, Centre County was again in the state spotlight as the Department of Community and Economic Development visited the area as part of its Life Sciences Media Tour in mid-April.

Graduates of the CBICC’s business incubator were featured prominently on the tour, which was attended by DCED marketing officials and journalists representing Business Xpansion Journal, Frost & Sullivan, Med Device Online and Sciences Connect.

DCED’s press familiarization tour was designed to highlight and celebrate the businesses that are making Pennsylvania Built to Advance, and the successful technology transfer that is occurring along the I-99 Corridor. [The hoped-for outcome is that the visiting journalists will feature Centre County companies in articles they write for their respective publications.]

CBICC President and CEO Vern Squier said this form of third-party advertisement is a valuable way in which Centre County can be promoted as a hub for the Life Sciences industry and to bring national and international attention to the advances local businesses are making in the field.

Their first stop locally was Actuated Medical, Inc., located in the Penn Eagle Industrial Park. [A feature article on Actuated Medical from the April front + Centre is available here.] A client of the CBICC’s/CCIDC’s Revolving Loan Fund and CBICC’s 2007 Outstanding Technology Company, Actuated Medical is a medical device company that focuses on state-of-the-art, minimally invasive instruments for clearing occlusions, penetrating tissue and enabling the emerging MRI-guided surgical procedure industry.

Mary Resides.

Resides has been involved with economic development work for the CBICC since 2006.

Resides visits businesses within Centre County to inform them about the professional service providers in the region that are ready to assist them with concerns they may experience and with assistance in building successful businesses.

“The ultimate message is that there is no ‘wrong door,’” she explained. “While I may not be able to assist with all of their needs, I act as a liaison to other service providers with the expertise and experience required.”

The PREP program uses a confidential database allowing partners to refer clients to the appropriate service provider. Access to historical information about the initial visit makes the transition from one service provider to another more comfortable for the client.

Resides is also responsible for tracking and reporting program outputs and outcomes to the regional PREP coordinator, participating in PREP meetings and other economic development related work, such as preparing and submitting responses to project inquiries from the Governor’s Action Team and the Office of International Business Development.

The CBICC’s role as a state PREP partner is just one of the many ways the chamber works to foster business success and economic growth in Centre County.

Local services the CBICC / CCIDC provides include: incubator space for start-up companies; confidential requests for building or site options; local and state funding; assistance with the state Keystone Innovation Zone tax credit program, if applicable; and responses to general questions.

“The chamber appreciated DCED’s focus on Centre County and the I-99 corridor, and is proud that our incubator program gave these companies the foundation for success they are realizing today.”

- Vern Squier, president and CEO, CBICC

3

fronttCentre

MAY 2014 | VOLUME 1, EDITION 3

Sound Technology was one of the former incubator companies featured. Mark Namaroff, Director of Investor Relations & Corporate Communication for Analogic, which acquired Sound Technology in 2002; Alessandro Gubbini, STI’s Marketing Manager; and Rick Edmiston, STI’s Business Development Director; gave an overview of the company, which was founded in 1987 in the CBICC’s original Matternville Incubator near Port Matilda.

Company officials provided examples of some of Sound Technology’s latest technology – ultrasound 3-D and 4-D endocavity probes for real-time volumetric imaging. Gubbini offered a demonstration of a prototype instrument that provides 3-D imaging to be used to improve the method of quickly locating veins for IVs, and other procedures improving patient treatment and provider efficiency.

The second former CBICC incubator company visited was Salimetrics, widely regarded as a global leader in salivary bioscience because in many instances, they pioneered the science and technology that supports thousands of salivary researchers in more than 20 counties with assays, collection supplies, research and lab support.

“Centre County’s life sciences companies are successfully transitioning cutting-edge research into products and services that are advancing their industries,” Squier said. “It is good to know that the state is taking notice.

“The chamber appreciates DCED’s focus on Centre County and the I-99 corridor, and is proud to have been able to assist these companies, helping to provide the foundations for success they are realizing today.”

Forum seeks to strengthen trade/business investment opportunities between United States, Ireland

CBICC member businesses interested in exploring new business investment opportunities with Ireland or strengthening existing relationships are invited to participate in the upcoming American-Irish Business Forum: Global Business Conference on Trade and Enterprise between Pennsylvania and Ireland.

The forum will be held Thursday, Aug. 28 and Friday, Aug. 29 in Dublin Castle, Ireland, in advance of the “Croke Park Classic” between Penn State University and Central Florida University on Saturday, Aug. 30.

The forum is being organized by The Rhiannon Group, with support of the Irish Consulate in New York, and in partnership with the state Department of Community and Economic Development.

The one-day forum will include panels on opportunities in the fields of:

» Energy

» Infrastructure

» Technology

» Life Sciences/Pharma/Bio Tech

» Agribusiness

The following day will comprise pre-arranged one-on-one meetings facilitated in advance by the Rhiannon Group. These meetings will provide the opportunity for companies and stakeholders to connect directly.

“The forum is designed to strengthen business ties with Ireland,” said CBICC President and CEO Vern Squier. “The industries of interest to Ireland are the same industries that are vital components of Centre County’s economy. The relationships forged at this event hold the potential to bring new investment to the region and new trade partners for local companies.

“If you are already going to the game, please consider adding the forum to your itinerary. If you are not going to the game, but have an interest in exploring business investment opportunities with Ireland, this is an opportunity to do so.”

For additional information on forum specifics, including travel and other arrangements, contact Donal Walsh at dwalsh@rhiannongroup.com.

Who should attend?

» Multinational corporations

» Mid-sized businesses

» Small & mid-sized enterprises

» Governmental agencies

» Professional trade bodies

Foreign investment opportunities focus of CBICC program

Wilfred Muskens, Department of Community and Economic Development Deputy Secretary of International Business Development, was the featured speaker at an April CBICC luncheon program designed to highlight state and regional programs in place to capitalize on exporting opportunities,

Top 5 PA Exports to Ireland

1. Organic Chemicals

2. Pharmaceuticals

3. Industrial Products

4. Plastics

5. Medical Devices

DCED Interntional Business Development Deputy Secretary Wilfred Muskens overviews the impact of foreign investment on Pennsylvania’s economy at a CBICC luncheon program.

4

fronttCentre

MAY 2014 | VOLUME 1, EDITION 3

Economic Developments in Brief

State High Project will benefit many, Centre County Gazette, May 15-21, 2014

CBICC urges approval of State College tax referendum, Centre Daily Times, May 1, 2014

Centre County boasts area’s lowest unemployment rate, WTAJ-TV, May 2014

Businesses keep economy humming, Centre Daily Times, May 3, 2014

Publisher Vern Squier

President/CEO, Chamber of Business & Industry of Centre County

Writer Lesley Kistner

Communications Director LKistner@cbicc.org

fronttCentre

attract international students, re-shore manufacturing and encourage more direct international investment. Muskens was joined by Noelle Long, Director, Export Development, SEDA-COG Council of Governments.

Muskens provided an overview of the state Office of International Business Development, which oversees 22 trade offices covering 73 countries, and 11 investment offices covering 23 countries. He also discussed the economic impact of direct foreign investment.

Pennsylvania has some 6,307 foreign-owned [at least 50 percent ownership] business locations, which support more than 267,000 jobs. Centre County boosts nearly 40 foreign-owned businesses.

During her presentation, Long explained how the state’s regional partners work with the state to help foster international investment opportunities. Through its role as a state PREP Partner, the CBICC is working with SEDA-COG on a special three-year “Make it in America” initiative that is specifically focused on attracting foreign investment into the rural “T” region of Pennsylvania. The initial phase of the program is dedicated to helping economic development professionals learn the nuances of marketing to foreign countries.

CBICC touts benefits of Centre County in national publication

A new CBICC economic development ad in Area Development magazine touts the benefits of locating in Centre County – Keystone Innovation and Opportunity Zones; Penn State University research and technology transfer services; a dynamic entrepreneurial ecosystem; regional skilled workforce; low-cost energy; easy access to major transportation corridors; convenient central PA and Mid-Atlantic location; corporate air service; and shovel-ready sites. The ad will appear in the magazine’s 2014 100 Leading Locations issue. The State College Metro Area fared well as a leading location, showing improved economic health over the last 3 to 5 years.

Help move Centre County’s economy forward

Become a 3B33 Success Partner. For more information, contact aharman@cbicc.org.

CBICC in the News

Power Train Sports & Fitness chain opens State College location, Centre Daily Times, May 16, 2014

Mammoth Restoration and Construction ready to build in Benner Commerce Park, Centre Daily Times, May 15, 2014

“ParenteBeard is dedicated to the communities in which we live and work. We are proud to support the 3B33 initiative because this collective effort will help position Centre County’s Private Sector for a vibrant, prosperous future. Ultimately, ParenteBeard’s support of 3B33 is an investment in the gret people and quality of life in the county and surrounding region.”

Fred Leoniak, CPA / ABV, partner, ParenteBeard LLC

5

fronttCentre

MAY 2014 | VOLUME 1, EDITION 3

all things and personal sacrifice, values that are beneficial to embrace in the business world as well.

He reinforced a commitment to academic excellence within the Nittany Lions football program. After his presentation, Coach Franklin answered questions from the audience of more than 130 business people.

“We know that the coach’s time is at a premium, so we greatly appreciate his willingness to speak to the business community,” CBICC President and CEO Vern Squier said. “The chamber and its members want the coach and his family to know they are welcome members of the Centre County community.”

Squier also thanked Mount Nittany Health System for sponsoring the breakfast.

“Under President and CEO Steve Brown’s leadership, Mount Nittany Health System has been a valued supporter of the chamber, its programs and events, and most importantly its economic development mission, serving as both a success partner and a 3B33 support partner,” Squier said.

CBICC ribbon cutting welcomes new Power Train Sports & Fitness franchise to Centre County

The CBICC held a ribbon cutting ceremony for Power Train Sports & Fitness’ new College Township facility at 2101 South Atherton Street in the former Hills Plaza.

The State College facility is Power Train’s 15th location. The franchise is owned by Juqua Parker, former NFL defensive end for the Tennessee Titans, Philadelphia Eagles and Cleveland Browns. A number of state, county and local officials were on hand for the ribbon cutting, which was followed by a VIP reception. A public grand opening was held on Saturday, May 17.

Founded by Steve Saunders – one of only four members of Under Armor’s Worldwide Training Council – Power Train has been providing sports performance training for youths through world-class athletes for 20 years.

CBICC Communications Director Lesley Kistner spoke on behalf of President and CEO Vern Squier, welcoming the new business and CBICC member to Centre County.

“Because of Penn State University, this area has a reputation for athletic excellence,” Kistner said. “Power Train’s newest franchise will contribute greatly to that reputation, whether working with collegiate athletes or weekend athletes looking to take their fitness to the next level.

“The chamber is pleased that Power Train choose Centre County to open its latest franchise; we look forward to working with them as members of the CBICC.”

Business community welcomes Penn State Football Coach James Franklin

CBICC members had the unique opportunity to meet with and hear from Penn State University Head Football Coach James Franklin at an exclusive Business Before Hours program sponsored by Mount Nittany Health System.

The event was held Monday, May 19 at the Penn Stater Conference Center.

During his well-received remarks, Franklin highlighted his four coaching values – positive attitude, work ethic, competition in

CBICC in Action

ABOVE: CBICC President and CEO Vern Squier prepares to introduce Coach Franklin to an audience of more than 130 members of the business community.

BELOW: Penn State Football Coach James Franklin greets Steve Brown, president and CEO of Mount Nittany Health System, sponsor of the breakfast program.

Coach Franklin concluded his remarks by taking questions from attendees.

Power Train Sports & Fitness Founder Steve Saunders, College Township Franchise Owner Jaqua Parker and Cam Capurso cut the ribbon at the new facility.