Economy

PNC renews sponsorship of PNC Philharmonic Pops for 3 years

The Northeastern Pennsylvania Philharmonic and PNC Foundation have announced that the PNC Foundation will sponsor the Pops series for three seasons: 2014-15, 2015-16, 2016-17. In recognition of this generous commitment, these concerts will be designated a

Rasmussen Consumer Index: 37 percent of consumers, 34 percent of investors say U.S. ‘currently in a recession’

The Rasmussen Consumer Index, which measures consumer confidence on a daily basis, rose one point on Dec. 16 to 106.8. Consumer confidence is up one point from a week ago, up four points from a month ago, and up eight points from three months ago. The Ras

Fidelity Bank donates $120,000 to Diocese of Scranton Scholarship Foundation

Fidelity Bank recently presented a check for $120,000 to the Diocese of Scranton Scholarship Foundation as part of the Pennsylvania Educational Improvement Tax Credit Program (EITC). The EITC Program allows Pennsylvania businesses, such as Fidelity Bank,

Fidelity Bank supports arts education with EITC donation to Scranton Cultural Center

Fidelity Bank recently presented the Scranton Cultural Center Creative and Performing Arts Academy with a check for $15,000 through the Pennsylvania Educational Improvement Tax Credit Program (EITC). The EITC provides a way for local businesses, like Fide

Casey urges Aldi to protect more than 1,600 Pennsylvania jobs as it prepares to acquire Bottom Dollar grocery stores

In letter to ALDI’s president, Casey urges company to keep Bottom Dollar stores open, protect jobs On Dec. 1, U.S. Sen. Bob Casey (D-Pennsylvania) announced that he has urged Aldi to protect 1,600 Pennsylvania jobs as it prepares to acquire Bottom Dollar

Fidelity Bank employees donate clothing and gifts to Salvation Army ‘Giving Tree’

Fidelity Bank recently collected toys, clothing and other gifts for 75 area children in Lackawanna and Luzerne counties through the Salvation Army “Angel Giving Tree” program. The Angel Tree program fulfills children’s and families’ specific needs and wis

Ben Franklin to invest $205,000 in regional economic development; Bloomsburg firm gets $65,000

The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) board of directors has approved the investment of $205,000 in support of regional economic development. Ben Franklin announces the following early-stage company investments tha

Fidelity Bank names Scranton Cultural Center box office

Fidelity Bank recently purchased the naming rights to the Scranton Cultural Center’s box office. It will now be known at the Fidelity Box Office at the Scranton Cultural Center. “This collaboration creates a dynamic partnership which will promote arts thr

Positive job market expected for Scranton-Wilkes-Barre MSA

Scranton-Wilkes-Barre MSA employers expect to hire at a healthy pace duringthe first quarter of 2015, according to the Manpower Employment Outlook Survey. From January to March, 19 percent of the companies interviewed plan to hire more employees, while 8

Associated Builders and Contractors predicts continued construction industry growth in 2015; rise in backlog, employment and spending

Associated Builders and Contractors (ABC) forecasts a steady and ongoing economic recovery for the U.S. commercial and industrial construction industries in 2015. The reasonably brisk industry recovery in 2014 should continue in 2015, with momentum especi

U.S Chamber Foundation report outlines stagnation concerns, need for pro-growth reform

The U.S Chamber of Commerce Foundation, in conjunction with the American Action Forum, today released a new report, The Growth Imperative: How Slow Growth Threatens Our Future and the American Dream, which underscores America’s dismal GDP growth rate and

Barbie dethroned in NRF’s ‘Top Toys’ survey as Disney’s ‘Frozen’ takes the crown

Barbie had a good run as number one, but there is a new queen in town according to NRF’s latest Holiday Top Toys Survey. The survey found one in five parents (20 percent) this holiday season plan to buy Disney’s Frozen merchandise for the little girls in

Pennsylvania ranks 34th on business taxes in annual release of State Business Tax Climate Index

Pennsylvania has the 34th best tax climate in the U.S. according to the latest edition of the State Business Tax Climate Index, released by the nonpartisan Tax Foundation. The Keystone State’s rank has dropped three places from its 31st place ranking last

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BANKING & FINANCE DIME BANK The Dime Bank has recently promoted Pamela Kerber Gehman to the rank of assistant vice president. Gehman works with the Damascus branch team. As a branch manager, she is responsible for supervising staff, originating loans, ope

Health care and IT stories top local news Scranton’s ongoing budget problems cited as among most important news of 2014

By Dave Gardner The future of Scranton’s downtown, particularly in regard to the city’s financial problems, leads the list of top news for 2014, according to Natalie O’Hara, president of D&O enterprises. The big question, she says, is whether the city’s g

Keystone additive manufacturing grant will be used to stimulate job creation

By Dave Gardner Keystone College is diving into a technological arena that has the potential to change the face of commerce. The school has received a $290,000 grant awarded by Gov. Tom Corbett’s Discovered in PA—Developed in PA (D2PA) program, funded by

FDIC’s Third Quarter Bank Earnings Report: Banking industry reaps largest revenue increase since 2009

The FDIC released its Third Quarter Bank Earnings Report on Nov. 25. The report revealed that commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $38.7 billion in the third

GAO on Small Business Health Options Programs (SHOPS): Based on official estimates and stakeholders’ expectations, enrollment ‘significantly lower’ than expected

The Patient Protection and Affordable Care Act required SHOPs — exchanges, or marketplaces, where small employers can shop for health coverage for their employees — to be established in all states. States may elect to establish and operate SHOPs themselve

Philadelphia Federal Reserve Bank presents study on benefits of homeownership counseling

Results show pre-purchase counseling resulted in an 8 percent reduction in total debt. There was also a reduction in late payments by participants and credit scores increased by 16.1 points. Philadelphia Federal Reserve Bank representative Marty Smith pre

Who’ll ‘shop local’ this year? Nielsen has some insight

Eight in 10 Americans (79 percent) are likely to shop at local businesses this holiday season, according to a 2014 nationwide Nielsen survey commissioned by Yelp. Yelp profiles the local holiday shopper (respondents who say they are at least “somewhat lik

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