Economy

DCED announces new low-interest loans approved by Pennsylvania Industrial Development Authority

Department of Community and Economic Development Secretary Dennis Davin on July 1 announced that new state investments approved by the Pennsylvania Industrial Development Authority (PIDA) will support the continued growth of Pennsylvania businesses that a

Mauch Chunk Trust declares dividend

The board of directors of Mauch Chunk Trust Financial Corp. declared a dividend of $.21 per share, payable June 30 to shareholders of record June 1. This change represents an increase of 5 percent over the 2014 regular dividend rate of $.20 per share. Mau

Independent bankers issue statement on flood insurance final rule

Independent Community Bankers of America (ICBA) president and CEO, Camden R. Fine issued this statement following the release of a joint final rule on federal flood insurance regulations. “The joint final rule issued June 22 by federal regulators includes

6 money mistakes newlyweds should avoid

Summer wedding season is in full swing and newlyweds will soon be managing their finances as a pair. The American Bankers Association is encouraging couples to waste no time addressing how they will handle money issues as spouses and financial partners. “

Banking and Securities Department warns consumers about unlicensed auto title loan schemes

The Pennsylvania Department of Banking and Securities has issued a Cease and Desist Order and is alerting the public about several unlicensed auto title loan schemes being perpetrated under the names: ■ Autoloans LLC ■ Car Loans LLC and ■ Loan Servicing S

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BANKING & FINANCE FIRST NATIONAL BANK First National Bank, the largest subsidiary of F.N.B. Corporation (NYSE: FNB), announced the promotion of Edward R. Barben to senior vice president, private banking team leader. Barben manages business development, cl

Legislators hear about state business climate

By Dave Gardner Testimony about government financing programs and the state's climate for business marked a recent economic conference that took place on the campus of Keystone College. The event was billed as a meeting of Harrisburg’s House Majority Poli

A look at Pennsylvania's pension problem

On June 23, Christopher Craig, executive deputy state treasurer and chief counsel addressed Pennsylvania’s pension problems in a Treasury Department publication, Treasury Notes. It is important to note that Treasury Notes is not intended to advocate any p

Can buildings change the way we work? Area experiments will help us find out

By Dave Gardner Brick and mortar investment is finally accelerating in NEPA as the stifling Great Recession fades and select regional organizations construct 21st century professional environments. In the process, these organizations are seeking to escala

Local chambers cite incremental progress

By Dave Gardner Comprehensive diversity appears to be the theme when the region’s chamber of commerce presidents compare economic development notes. Bob Durkin, president of the Greater Scranton Chamber of Commerce, explains that his market area is domina

Basic Education Funding Commission releases school ‘Fair Funding’ report

State Rep. David Parker (R-Monroe), an advocate for education funding reform in the state House, announced the results of the Basic Education Funding Commission June 19. The bipartisan commission consists of members of the House, Senate and governor's adm

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Get out of debt (and stay out) Are you carrying a large amount of debt? On average, American households have about $15,000 of credit card debt, according to NerdWallet. If you’re struggling to pay off your outstanding balances, or if you’re tired of high

Pashinski bill would aid grandparents raising grandchildren

State. Rep. Eddie Day Pashinski (D-Luzerne), on June 10 announced the House passed his bill that will focus on assisting grandparents raising grandchildren in Pennsylvania. House Bill 662 would establish a Kinship Navigator Pilot Program in the commonweal

NEPIRC recognizes Kavulich for his dedication to manufacturing

State Rep. Sid Michaels Kavulich (D-114th) recently received recognition from the board of directors of the Northeastern Pennsylvania Industrial Resource Center for his dedication and support of the manufacturing community within Lackawanna County. Kavuli

Pennsylvania unemployment rate at 5.4% in May

On June 19 the Pennsylvania Department of Labor & Industry released its employment situation report for May 2015. Pennsylvania’s unemployment rate was up one-tenth of a percentage point from April to 5.4 percent. Pennsylvania’s rate was one-tenth of a per

ABA report: Strong job gains improving purchase volumes, access to credit and ability to pay

The credit-card market continued to grow in last year’s fourth quarter as new account growth accelerated and average credit lines increased for prime and super-prime borrowers, according to the American Bankers Association’s latest Credit Card Marke

FNCB helps boost downtown Hazleton with donation; bank’s donation is part of six-year, $12,000 pledge

First National Community Bank (FNCB) recently presented representatives from the Downtown Hazleton Alliance for Progress (DHAP) with a $2000.00 donation, the second installment of a six-year pledge to help the organization revitalize downtown Hazleton. Th

Community Bankers release statement on FDIC Deposit Insurance proposal to change deposit insurance assessments for community banks

Independent Community Bankers of America (ICBA) President and CEO Camden R. Fine released a statement June 16 regarding the FDIC’s proposed rule to change deposit insurance assessments for community banks. Fine said, “ICBA will be closely studying the FDI

National Retail Federation: Father’s Day spending to reach $12.7 billion

Father’s Day may not be the most lucrative consumer holiday of the year for retailers, but spending for dad is expected to reach $12.7 billion for golf lessons, home improvement tools, coffee mugs and more. And, according to the National Retail Federation

Casey, highlighting local data, calls for reauthorization of Export-Import Bank; bank’s charter will expire on June 30

With days to go before the deadline, U.S. Senator Bob Casey (D-Pennsylvania), highlighting local data, called for the reauthorization of the Export-Import Bank (Ex-Im) that he said helps Pennsylvania small businesses access new markets and create jobs. Ac

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Latest Business News

Regional update, July 6, 2015

Dunham’s Sports sets sweepstakes Dunham’s Sports, one of the nation’s largest retail sporting goods chains with a Schuylkill County outlet in the Schuylkill Mall, has again launched its “Pick Your Own Adventure” sweepstakes, according to a release from Da