DCED Visits Lackawanna County for Tour and Overview of Chamber Business Development Efforts The Greater Scranton Chamber of Commerce and its business development division, Scranton Lackawanna Industrial Building Company (SLIBCO), welcomed representatives from the Pennsylvania Department of Community and Economic Development (DCED) for a comprehensive site visit showcasing the region’s business, economic, and workforce development efforts. “This visit was a tremendous opportunity to showcase the innovative businesses and strategic initiatives that are driving growth in Lackawanna County,” said AJ Cimahosky, business development specialist. “We’re grateful for the partnership of DCED and the Governor in helping to attract, sustain, and grow the thriving economic and workforce landscape.” DCED officials toured available commercial real estate opportunities in Lackawanna County. Committed to working hand-in-hand with the Governor’s economic development team, The Chamber and SLIBCO are strategically targeting high-priority industries, such as advanced manufacturing, beverage and food service, bio and life sciences, and technology—resulting in the development of the business and workforce landscape of the region.
SLIBCO Granted $75,000 for Stauffer Industrial Park Signage Enhancements The Scranton Lackawanna Industrial Building Company (SLIBCO), the business development affiliate of The Greater Scranton Chamber of Commerce, leadership is pleased to announce the receipt of a $75,000 grant. This funding, provided through a Department of Community and Economic Development (DCED) investment and with the support of State Representative Jim Haddock of the 118th district, will update signage across the Stauffer Industrial Park, enhancing visibility and navigation within one of the area’s most vital business parks. “The signs will be an excellent addition to tackle the directional challenges tenants and visitors face in the Stauffer Industrial Park,” shared Frank DeAngelo, Taylor Borough representative. State Representative Jim Haddock shares, “As State Representative, I am glad to help deliver this DCED funding to support this worthwhile project in my district. Proper signage is a huge part of developing and supporting business growth in the Stauffer Industrial Park. It is always fantastic to work with Taylor Borough and The Chamber—we are all so glad to see this vital project taking off soon.” Stauffer Industrial Park, one of the 15 business parks developed by SLIBCO and The Chamber throughout Lackawanna County, has long been a hub of economic activity, hosting a range of logistical industries that contribute to the region’s growth and prosperity. Amy Luyster, vice president of business and workforce development, adds, “The investment in upgrading signage in Stauffer Industrial Park will have an economic impact by enhancing the park’s accessibility and appeal while prioritizing safety for workers, visitors, and drivers. This initiative will help attract new and expanding companies, improve navigation, and demonstrate our commitment to making Stauffer Industrial Park a premier destination for successful business development.” The signage updates at Stauffer Industrial Park underscore SLIBCO and The Chamber’s mission to create and maintain vibrant business environments that attract, sustain, and grow businesses and jobs across Lackawanna County. By investing in infrastructure improvements, SLIBCO and The Chamber continue to strengthen the foundation for economic growth and enhance the experience of tenants and visitors within these business parks.
PIDA Announces Updated Interest Rates The Pennsylvania Industrial Development Authority (PIDA) has announced updated interest rate options for loan applications submitted through December 31, 2024. Who can participate in this loan program? A variety of different industry sectors are eligible for PIDA financing including manufacturing, industrial, agricultural, research and development, hospitality, defense conversion, recycling, construction, child day-care, retail and service, export, and computer-related service enterprises. These rates apply to various financing options, including real estate, equipment, and energy efficiency projects. For traditional real estate loans, borrowers can choose between a fixed rate of 4.75% for up to 15 years or a lower initial rate of 3.75% for seven years, which resets afterward. Additionally, loans with a 10-year term and 20-year amortization offer similar rate structures, including a fixed rate of 4.75% or an initial 3.75% for five years with a reset option. PIDA also offers competitive rates for other loan categories. Equipment loans under the PIDA-MELF program carry a 4.75% fixed rate for the full term, while working capital and accounts receivable lines of credit have the same fixed rate for a 12-month period. Businesses pursuing pollution prevention and energy efficiency projects benefit from a significantly lower fixed rate of 2.00% for the loan’s duration, encouraging sustainable business practices. These rate options provide valuable financing solutions for businesses across Pennsylvania looking to expand or improve operations. For more information on PIDA loans or to apply, contact AJ Cimahosky or Lexie Langan in the business development office. AJ Cimahosky: ajcimahosky@scrantonchamber.com | (570) 342–7711 ext. 137 Lexie Langan: llangan@scrantonchamber.com | (570) 342–7711 ext. 136
The Chamber and SLIBCO Announces Successful Land Sale to N&N Drilling The Greater Scranton Chamber of Commerce announces the closing of a land transaction within the Valley View Business Park. Lot 14B, totaling 3.76 acres of prime industrial land, has been acquired by N&N Drilling, a prominent local business headquartered in Jessup, PA. The sale was facilitated by Scranton Lackawanna Industrial Building Company (SLIBCO), the Chamber’s business development affiliate. N&N Drilling, founded in 1967, has been a cornerstone of northeastern Pennsylvania’s industrial landscape for over five decades. Specializing in the manufacturing of drilling supplies, the company has garnered a reputation for precision, innovation, and reliability in serving diverse industrial sectors. This strategic acquisition by N&N Drilling represents a significant milestone not only for the company but also for the economic vitality of the region. By expanding its footprint within the Valley View Business Park, N&N Drilling is poised to enhance its operational capabilities, pursue new opportunities, and contribute further to the growth and prosperity of the local community. “N&N Drilling Supply is pleased to announce the acquisition of land in the Valley View Business Park. This expansion allows us to increase our production capacity, explore new product development opportunities, and ultimately create more jobs in the region. We’re also delighted to welcome the third generation of our family into the business. Having Marco, Gary III., and Juliano join our team over the past year is a testament to the generations of hard work and dedication that have built this company for over 58 years,” shared Greg Nieto. “We’re excited for the fresh ideas and perspectives they’ll bring, and we’re confident they’ll help us continue to thrive for many years to come right here in Northeastern PA and beyond. We’re excited for the future and look forward to being a part of the continued growth of Northeastern Pennsylvania.” The Greater Scranton Chamber of Commerce extends its congratulations to both SLIBCO and N&N Drilling on the successful completion of this transaction. This sale exemplifies the Chamber’s commitment to fostering economic development, promoting entrepreneurship, and facilitating strategic partnerships that benefit businesses and residents alike. For more information about SLIBCO and opportunities within the Valley View Business Park, please visit www.SLIBCO.com.
Chamber Affiliate Receives Award for Economic Development Accomplishments in the Region The Greater Scranton Chamber of Commerce economic development affiliate, Scranton-Lackawanna Industrial Building Company (SLIBCO), received the Mid-Sized Community EDO Award from Business Facilities for its economic development accomplishments in northeastern Pennsylvania. Business Facilities is a full-service media brand specializing in the site selection marketplace, and it has been recognized as “the leading source of intelligence on corporate expansion and relocation since 1968,” as stated by the magazine’s website. The award SLIBCO received was given to mid-size economic development organizations whose region’s population is between 100,000–500,000. Outlining The Chamber and SLIBCOs accomplishments: 15 business parks totaling over 3,000 acres. Of the 3,000 acres, less than 1,000 acres are left undeveloped. The organizations developed an internal incentive program for developers within the business parks to work towards the attraction of advanced industries like energy production, advanced manufacturing, and food and beverage production. The latest accomplishment of The Chamber and SLIBCO was a bridged partnership to conserve 250+ acres of land for conservation in Lackawanna County. SLIBCO worked with the Lackawanna Valley Conservancy, the Pennsylvania Department of Conservation and Natural Resources, and the PA Game Commission. The conservation organization intends to create multiple outdoor recreational opportunities, including mountain biking trails, hiking trails, and outdoor educational elements. The Chamber and its affiliates are committed to attracting, sustaining, and growing businesses in northeastern Pennsylvania. SLIBCO is one of eight affiliates through The Chamber that seeks to develop the community through access to capital, leadership and professional development, workforce, entrepreneurship, and more. About Scranton-Lackawanna Industrial Business Company (SLIBCO)Scranton-Lackawanna Industrial Business Company (SLIBCO), an affiliate of The Greater Scranton Chamber of Commerce, develops multi-tenant buildings and industrial and office parks in northeastern Pennsylvania. SLIBCO also owns and manages two technology incubator facilities to start-up and expand small businesses. About The Greater Scranton Chamber of CommerceThe Greater Scranton Chamber of Commerce is a not-for-profit organization that works to improve the area’s economic environment and quality of life by offering programs and services which stimulate economic growth, promote business prosperity and nurture educational opportunities. For more information about the Chamber, visit www.scrantonchamber.com.
New SLIBCO Board Members Named Don Brominski Jennifer Davis Joseph Ferretti Alyssa Golden Tom Johnson Bob Markowski Alana Roberts Heather Skapyak Justin Sulla SLIBCO (Scranton Lackawanna Industrial Building Company) recently announced new directors and officers to its board. SLIBCO is the not-for-profit industrial development affiliate of The Greater Scranton Chamber of Commerce. SLIBCO elected the following officers Jennifer Davis, Sordoni Construction Services, as president; Joseph Ferretti, Peoples Security Bank & Trust, as vice president; Alana Roberts, PPL Electric Utilities, as vice president; Don Brominski, UGI Utilities, as vice president; and Bob Markowski, Allied Services, as treasurer. Newly elected directors include Alyssa Golden, Golden Technologies; Tom Johnson, CANPACK; Heather Skapyak, Greenman-Pedersen (GPI); and Justin Sulla, Esq., Diamond K Incorporated.
