When copper tube manufacturer Cambridge-Lee Industries decided to expand operations, they chose to build a new plant in Greater Reading. More than just an affordable, strategic location in southeastern Pennsylvania, Greater Reading gave them access to a skilled workforce, a choice of excellent properties, and a well-connected business community that streamlined the approval process—so they could break ground months ahead of schedule.
To learn more about this Greater Reading, PA success story, visit our website.
The Governor, the Department of Community and Economic Development, and Team PA have partnered to create the Governor’s ImPAct Awards. The awards are a new awards designed to celebrate the companies and individuals who are investing in Pennsylvania and creating jobs.
All of us at Greater Reading Economic Partnership are proud to congratulate three GREP Investors and Greater Reading companies who have been nominated and selected as finalists for awards!
Community Impact Award Finalist
Export Impact Award Finalist
Jobs First Award Finalist
To see a complete list of nominees, visit the NewPA.com website.
TAB Industries discovered more in Greater Reading than just an affordable, strategic location in southeastern Pennsylvania. They found easy access—to a labor pool with a strong work ethic, desirable transportation routes and an abundance of valuable, competent fabrication providers. In Greater Reading, TAB Industries found a dynamic community where they can expand and achieve great things.
Hear from Tom Brizek, President and CEO of TAB Industries, LLC, about why Greater Reading made sense for his growing company.
To learn more about this Greater Reading, PA success story, visit our website.
Greater Reading Economic Partnership Q1 2013 Newsletter
The Greater Reading Economic Partnership newsletter is produced quarterly and provides articles of interest in economic development taking place in Greater Reading, Pennsylvania.
To view the entire newsletter, click page 1 above or click here.
Greater Reading Economic Partnership is pleased to present the 2012 Annual Report
Economic development and job growth are the keys to prosperity and provide the foundation and framework for our community. All of us at Greater Reading Economic Partnership are looking forward to what the ten years will hold.
Visit GreaterReading.com to learn more about economic development in Greater Reading, Pennsylvania.
Greater Reading office market first quarter 2013 report
Suburban Office Market Overview
he Greater Reading Suburban Office Market ended the first quarter 2013 with a vacancy rate for Class A Office buildings at 17.4%. This is a decrease in vacancy rates from 4th quarter 2012 and an increase in vacancy from same period 2012. The average rental rates increased to $16.00 – $21.50 per square foot Modified Gross which is an increase in the rates from the same period 2012.
Deals of primary focus within Class A building sector were the 13,268 sf. Lease to Sunoco Logistics at 1 Meridian Blvd, which was a relocation and expansion for the already Wyomissing based organization, and the new VA Medical Center lease that was signed at 2762 Century Blvd. these leases along with a few other assisted in reducing vacancy rates and increasing overall absorption.
The Class B Suburban office market ended the first quarter of 2013 with a vacancy rate of 18.67%. This is a slight decrease in vacancy from 4th quarter 2012 by less than one-quarter percent, however it is an increase from the same period 2012. The average rental rates had an increase from 4th quarter 2012 to 1st quarter 2013 at $12.50 – $16.50 per square foot modified gross opposed to that of rates from the same period 2012 which was $11.00 – $16.50 per square foot.
Deals of primary focus within the Class B building sector were the new leases at 975 Berkshire Blvd. of 5,300 sf, and 2001 State Hill Road of 4,000 sf. The activity level for second generation Class B space has greatly increased within the quarter which doesn’t seem to be slowing down.
And the Class C Suburban office market sector ended the 1st quarter of 2013 with a vacancy rate of 11.97% which was an increase from the 4th quarter 2012.
Our outlook for the office market going into 2nd quarter 2013 is very optimistic with activity levels at new highs within the market place and four new transactions pending totaling 70,000 sf. of new lease deals all of which NAI’s Bryan Cole is handling.
To read more about the suburban office market report, click here.
-Bryan Cole, NAI Keystone Commercial & Industrial, LLC
p: (610) 779.1400 x 8502
To view more reports and publications visit GreaterReading.com
The Greater Reading Economic Partnership (GREP) is pleased to announce the location of GreatGrow Incorporated, a manufacturing and resource and development company in green agricultural technology, to the Muhlenberg Industrial Mall in Muhlenberg Township, Pennsylvania.
GreatGrow, Inc. will be manufacturing a biodegradable soil amendment product that could eliminate the use of traditional farm fertilizer. The soil amendment lets the ground store oxygen, water and nutrients at greater levels and also repels negative bacteria, fungus and viruses. The combination can mean greater crop yields at a reduced price and increased levels of antioxidants, according to Stanley Thornton, President and Founder.
The company will begin to produce product in the 20,000 square foot building In Muhlenberg Township. GreatGrow, Inc. will be employing more than 20 people in its first year of operations. The company could have as many as 200 employees in five years.
“We are pleased to welcome this innovative, high-growth company to Greater Reading. We want to attract companies like GreatGrow, Inc. that are pioneers and industry leaders. Their location choice proves that Greater Reading is a smart and competitive choice that delivers not only an affordable location, but also a diverse, proactive community that supports innovation.” Jon Scott, Greater Reading Economic Partnership, President and CEO.
Greater Reading Economic Partnership, Vice President, Pamela J. Shupp, AICP, CEcD, provides us with Greater Reading economic development update on Comcast Newsmakers.
To learn more about Greater Reading Economic Partnership or Greater Reading, Pennsylvania, visit GreaterReading.com
Berks Park 78 Industrial Land Sale Recognized in the Mid Atlantic Real Estate Journal as Best of 2012
Congratulations to the Berks County Industrial Development Authority and Jeff Williams of Cushman Wakefield for making it onto the MAREJ’s Best of 2012 list!
To see a complete list of available properties in Greater Reading, PA, visit the property section on GreaterReading.com
The Industrial Asset Management Council (IAMC) awarded Deb Heffner, Economic Development Coordinator of Greater Reading Economic Partnership, the IAMC Fellow designation.
IAMC Fellows have completed the Leadership Development Program, participating in five leadership seminars in four learning categories: individual, team, emotional intelligence and general leadership.
Leadership Development Program provides high-quality training that enhances personal and professional leadership skills. Recent seminar speakers and topics include:
- John Spence, executive educator: “Excellence in the New Normal”
- Rod Karr, senior learning & development consultant for The Gallup Organization, & Steve Bath, learning consultant for The Gallup Organization: “The Most Effective Leaders are Always Investing in Strengths!”
- Gary Kunath, founder and former CEO of the Summit Group: “Leading Across Generations for Improved Retention and Performance”
“IAMC Fellows are leaders in IAMC, their companies and the industry at large,” said Aubrey Glazman, executive director of IAMC. “Deb is a great asset to IAMC. We are very pleased to welcome her to this prestigious group of IAMC Fellows.”
Deb currently serves as the Economic Development Coordinator for Greater Reading Economic Partnership (GREP). In her role she serves as the primary person for all prospect outreach which includes attending conferences and tradeshows, relationship management, and site visits. As the fiscal manager she oversees all accounting functions, grant writing, and investor coordination. Additionally, Deb is the producer and host for GREP’s monthly Economic Development in Greater Reading show on Berks Community Television.
Since 2006, 111 professionals have earned the IAMC Fellow designation.
About the Industrial Asset Management Council (IAMC)
Founded in 2002, the Industrial Asset Management Council (IAMC) is the leading association of industrial asset management and corporate real estate executives, their suppliers, service providers and economic developers. IAMC is a member-focused association providing strategic insights, highest quality educational resources and exclusive networking opportunities for the leaders of the manufacturing and industrial asset management industry. As of March 2013, the membership of IAMC totaled 580. IAMC is managed by Conway Data, Inc.
For more information visit www.iamc.org.
About Greater Reading Economic Partnership
GREP coordinates and works with its economic development partners to provide a single voice in helping to retain, attract, promote, and grow economic development in a collaborative and unified manner.
Learn More About GREP