Governor Wolf Announces 60 New Jobs with United States Cold Storage Expansion in Bucks County

first_img March 09, 2017 Governor Wolf Announces 60 New Jobs with United States Cold Storage Expansion in Bucks County Economy,  Jobs That Pay,  Press Release Harrisburg, PA – Governor Tom Wolf announced today that United States Cold Storage, Inc. (USCS), a refrigerated warehouse and logistics company, will expand operations in Richland Township, Bucks County and will create 60 new jobs at the site.“United States Cold Storage has experienced tremendous growth over the last 13 years. Through these efforts, the company has directly invested more than $110 million, leveraged more than $100 in additional capital investment, and created more than 500 jobs in Pennsylvania,” said Governor Wolf. “United States Cold Storage could have expanded elsewhere in the U.S., but I am proud to say that the company has once again chosen Pennsylvania as the best location to grow.”To meet an increased demand for services, USCS will be expanding its existing facility at 1050 Heller Road by 200,000 square feet. The company has committed to investing $41.5 million in the project, creating 60 new, full-time jobs within three years, and to retaining 613 existing statewide positions. Hiring of new employees will likely commence in August 2017.“USCS is excited to be expanding our facility in Richland Township, and we appreciate all the support from the community,” said Mickey Hoffmann, United States Cold Storage vice president of corporate development. “This facility stores refrigerated foods that are distributed across the U.S., and its ideal location is part of the reason we need to expand the warehouse to meet additional customer demand.”USCS received a funding proposal from the Department of Community and Economic Development that includes a $120,000 Pennsylvania First grant, $21,600 in WEDnetPA funding for employee training, and $120,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs.The project was coordinated by Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania, in collaboration with the Bucks County Economic Development Corporation (BCEDC).“It was a great opportunity to work with United States Cold Storage on another expansion project in Bucks County,” said BCEDC Executive Director Robert Cormack. “This marks our second opportunity to work with the Governor’s Action Team in assisting the company. This more than $40 million project, which will create 60 new jobs, is a tremendous achievement for all parties involved and is another example of the many advantages of doing business in Bucks County and the Commonwealth of Pennsylvania.”United States Cold Storage, Inc. is a premier provider of public refrigerated warehousing and related logistics services throughout the U.S. With roots dating back to 1899, USCS has long served a diverse customer base with requirements ranging from primary storage to fully integrated third-party logistics. The company offers more than 274 million cubic feet of temperature controlled warehouse and distribution space in 38 facilities located in 13 states.In 2016, DCED approved nearly $1.1 billion in low-interest loans, tax credits, and grants for projects across the commonwealth and secured private sector commitments for the creation and retention of more than 245,000 full-time jobs. In the same timeframe, the Governor’s Action Team completed 77 projects – creating and retaining more than 36,800 jobs. For more information about the Governor’s Action Team or DCED, visit dced.pa.gov.center_img SHARE Email Facebook Twitterlast_img read more

State pension liabilities pose biggest threat to Germany’s credit rating

first_imgGermany’s AAA sovereign credit rating could come under threat in the years ahead, according to credit rating agency Scope.In its most recent report on the country’s financial stability, Scope named “future pension liabilities” as the top source for credit weakness in the future, ahead of “low domestic investment” and “adverse demographics”.“The combination of a lack of investment and an ageing population points to an emerging imbalance between younger and older generations, which will have a lasting impact on the economy,” Scope said.It added that “rising unfunded pension liabilities” and an increase in age-related spending could “dampen government revenue generation on the back of weaker economic growth”. “To help mitigate this, further adjustments to the social security and pension systems are needed,” Scope urged. “If no action is taken, the debt ratio, including future liabilities from health and pension expenditure will bring Germany back into the realm of highly indebted countries in the euro area.”However, the analysts cautioned that the government would likely be met with resistance from the electorate if it sought to reform the pension system.Last month, Scope criticised the German government’s plan to guarantee current pension payout levels and replacement rates from the first pillar. Ein Staatsfonds für Deutschland?Meanwhile, German economist Volker Brühl, managing director of the Centre for Financial Studies in Frankfurt, proposed the creation of a sovereign wealth fund to ensure sustainability of the state pension system.The current government plan for financing the first-pillar guarantee only dealt with budgetary needs up to 2025, he said.“It is as yet unclear what a sustainable pension concept for the time after 2025 could look like,” Brühl said.The economist added that the government had estimated the annual top-ups needed for the state pension system would reach “well above €100bn by 2031”, compared with €67.8bn in 2018.“This has to change,” Brühl said. “Therefore, the current debates on the future financial security of the pension system should assess whether the existing ‘pay-as-you-go’ system should be extended by a funded component.”He proposed the creation of a “Rentenfonds Deutschland” – effectively a sovereign wealth fund for pensions, to be financed from tax money and, if necessary, “a moderate debt level”.“If the assets in such a state fund are invested in a… long-term portfolio with a high equity share, it will yield attractive returns that can help to absorb some of the pension liabilities,” Brühl said.According to his calculations, such a fund could reach €1trn by 2050 “without damaging the solidity of the public finances”.There have been calls for the creation of a sovereign wealth fund in the recent past, but these were mainly aimed at creating a funding basis for infrastructure investments.last_img read more

MLB trade rumors: Rangers ‘likely’ to move Mike Minor; Phillies, Brewers interested in starter

first_imgMike Minor could soon be in a new uniform.The Rangers are “increasingly likely” to move the 31-year-old starter before the July 31 trade deadline, according to a report from MLB Network, which cites unidentified league sources. The Phillies and Brewers are both interested in acquiring Minor, but, as of Wednesday, no deal is close, the report says. Sources: Mike Minor is increasingly likely to be traded in the next two weeks, as I reported a short time ago on @MLBNetwork. The #Brewers and #Phillies are among the interested teams, although there’s no indication that a deal is close. @MLB— Jon Morosi (@jonmorosi) July 17, 2019“There’s always going to be speculation,” Rangers manager Chris Woodward said Wednesday about the trade rumors (via MLB Network on SiriusXM). “That’s part of the game. That’s something that, as a player, you have to deal with every year, basically.”The left-hander made his first All-Star team earlier this month and is in the middle of a career season. He holds an 8-4 record with a 2.73 ERA in 19 starts so far in 2019. Related News “Hard for us to make the judgment now that we’re one trade away from the World Series,” MacPhail said, via MLB.com. “We don’t believe that. I don’t believe that. So, as a result, you’re going to have to be more judicious with your playing talent. It doesn’t mean you can’t make a different type of deal, doesn’t mean you can’t make a deal where a component is taking on somebody’s salary.”The Phillies could explore dealing for the Diamondbacks’ Robbie Ray, as well. MLB trade rumors: Brewers, Giants ‘engaged in discussions’ about reliever Will Smith MLB trade rumors: Phillies have been ‘in contact with every team that has pitching available’ The Rangers entered play Wednesday four games out of the second American League wild-card spot with a 50-45 record.“As a staff member, all you can do is try to keep (the trade rumors) internal,” Woodward said. “Try to keep the noise out and say ‘Hey, when things happen, they happen. It’s out of your control. So, we might as well go out there and try to win each game and not worry about that.’ Not have that hanging over us.“But, it is there. I’m not afraid to address it. I’m not going to ignore it. It is what it is. We’ve got to accept that, and embrace that, and move on with our day.”Chris Woodward on @JonMorosi’s report that “Mike Minor is increasingly likely to be traded”:”We’ve got to accept that, and embrace that, and move on with our day.”https://t.co/C5ybqaXqth@Rangers | #Rangers | #TogetherWe pic.twitter.com/Sh91BKwuGY— MLB Network Radio on SiriusXM (@MLBNetworkRadio) July 17, 2019The Brewers have also been linked to Mets right-hander Noah Syndergaard and Giants reliever Will Smith while the Phillies reportedly have “been in contact with every team that has pitching available.”Philadelphia, however, might not be willing to trade top prospects for frontline players, team president Andy MacPhail told reporters last week. MLB trade rumors: Astros monitoring the market for a starter, interested in Robbie Raylast_img read more