Commerce
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Severe Rise in Endowment Tax ‘Devastating’ to Swarthmore College
Swarthmore College could be hit with a tax rate increase in its endowments from 1.4 percent to anywhere from 14 to 21 percent, writes Susan Snyder for The Philadelphia Inquirer. The rate increase was approved by the U.S. House of Representatives and is now being considered by the U.S. Senate. The impact would be devastating…
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King of Prussia’s Highly Anticipated Netflix House: What to Expect
The highly anticipated Netflix House in King of Prussia Mall is set to open later this year, and the first wave of attractions has been revealed, writes Emma Dooling for the Philadelphia Business Journal. The immersive venue will launch with two major experiences based on popular Netflix series: Wednesday and One Piece. Visitors can step…
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Solebury Acquires One of the Largest Undeveloped Tracts in Township
Solebury Township has acquired the former New Hope Crushed Stone & Lime Co. quarry for $1.6 million, writes Jeff Werner for the Patch. The purchase of the 166-acre site secures one of the township’s largest undeveloped tracts. It features a 60-acre lake and more than 3,000 feet of stream corridor along Primrose Creek. The property…
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East Brandywine Homeowners Win $3.25 Million Suit Against Homebuilder
Three pairs of homeowners in East Brandywine Township have been awarded a total of $3.25 million by a Chester County jury in a lawsuit against builder Southdown Homes over defects, writes Michaelle Bond for The Philadelphia Inquirer. The families purchased homes in Estates at Hideaway Farms, a single-family development built by the Chester County homebuilder,…
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Philadelphia Landmark Buildings Gaining New Life, Thanks to Developers
Local developers gathered at the recent “Conversion City” event to discuss the opportunities and challenges involved in repurposing Philadelphia’s landmark buildings, writes Paul Schwedelson for the Philadelphia Business Journal. Leo Addimando, managing partner of Alterra Property Group, emphasized that the key to redeveloping older buildings is to expect the unexpected. “You have to assume that…
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Yards Brewing Collaborates with Two Other Breweries to Increase Production
Yards Brewing Co., which has been a staple in Philadelphia for over 30 years, is partnering with two other breweries to increase its production, writes Erin McCarthy for The Philadelphia Inquirer. Yards will be partnering with Pennsylvania-based Bald Birds and Connecticut-based Two Roads, respectively, for a new manufacturing collaboration called B3 Beverage Co. The partnership…
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New Philadelphia Housing Bills Would Bring Security Deposit Changes for Renters, Landlords
Philadelphia City Council recently passed new housing bills that would mean potential changes for local renters and landlords, writes Kristen Mosbrucker-Garza for WHYY. As stated in Pennsylvania state law, landlords cannot charge more than two months’ security deposit for a tenant to move in for the first year. Landlords can only hold one month’s security…
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PIDC Releases Annual Report, Highlighting Impact in Fueling Philadelphia’s Growth
PIDC, Philadelphia’s public‑private economic development arm, has released its 2024 annual review, which highlights its everyday focus to fuel Philadelphia’s growth through its four main pillars. These pillars are supporting small businesses, expanding access to capital, advancing real estate development, and strengthening communities. Last year, PIDC managed to closer 297 transactions, provided financing to 262…
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New High-End, Affordable Apartments Set to Transform the Navy Yard
Ensemble Investments and Mosaic Development Partners have broken ground on two residential buildings at the Navy Yard that will transform the property, writes Paul Schwedelson for the Philadelphia Business Journal. The new project will deliver 614 apartments and 25,000 square feet of ground-floor commercial space. The two developments will be a big deal for the…
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Penn State Brandywine Hosted Tech Pros + Web Pros Conference
More than 200 Penn State University information technology and web professionals gathered June 4-6 on the Penn State Brandywine Media campus for a Tech Pros + Web Pros professional development conference. The annual conference enables attendees to network and learn more about new and upcoming trends in the technology and web fields. Each year, a…
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GMercyU’s Occupational Therapy Program Blends Innovation, Global Service, and Workforce Readiness
The Occupational Therapy (OT) program at Gwynedd Mercy University, much like the other programs in its College of Nursing and Health Professions, is entering a transformative era — one defined by state-of-the-art facilities, global learning experiences, and a streamlined pathway from undergraduate study to a graduate degree in occupational therapy. Central to this evolution is…
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JAG Physical Therapy Moves into Havertown in Expansion Plan
JAG Physical Therapy continues to move into the Philadelphia market with the recent purchase of Penn Therapy Associates in Havertown, writes John George for Philadelphia Business Journal. Penn Therapy Associates was founded in Broomall by Mark E. Reitz in 1984. It relocated to the 2010 West Chester Pike in Havertown in 1999. “Our patients and…
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Sojo Industries Secures $40 Million in Funds, Plans to Double Bucks County Footprint
Bristol-based Sojo Industries has raised $40 million as part of a Series B tranche and plans to double its Bucks County footprint, writes Ryan Mulligan for the Philadelphia Business Journal. The robotics packaging startup raised the installment from Chicago-based S2G Investments. This lifted its total funding to roughly $63 million. This represents one of the…
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A Special Case in Lower Merion May Dictate Gun Sales Across the State
The Pennsylvania Commonwealth Court will soon rule on whether Lower Merion can regulate where guns are sold, writes Katie Bernard for the Philadelphia Inquirer. The decision could impact local government authority across the state. While state law prohibits municipalities from regulating firearms, Lower Merion officials argue zoning laws pertain to land use, not gun control.…
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Bonded Warehouse Could Help Small Businesses Better Navigate Current Tariff Policies
Bringing a bonded warehouse to Philadelphia could help small businesses more effectively navigate the Trump Administration’s back-and-forth tariff policies, writes Gene Marks for The Philadelphia Inquirer. A bonded warehouse would mitigate the impact of tariff costs and avoid increasing prices on customers. Such a facility must be certified by U.S. Customs. Once goods are received,…
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Little-Known Grant Program in Philadelphia Fueling Small Business Growth
Philadelphia’s Business Lending Network Incentive Grant Program is helping fuel small business growth across the city, although few people know it exists, writes Sarah Huffman for Technical.ly. The money comes from a partnership between the city and a network of lenders, and the program relies on participating financial institutions to inform their clients about it.…
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Here’s How An Unlikely Suitor Managed to Acquire UArts’ Iconic Hamilton Hall
When the University of the Arts announced its bankruptcy and subsequent closure, many suitors showed interest. An unexpected suitor, however, managed to acquire UArts’ iconic Hamilton Hall and Furness Hall, writes Paul Schwedelson for the Philadelphia Business Journal. Scout, a Philadelphia-based development firm, is that suitor, paying $12.25 million for the two buildings. The firm…
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A New Vegan Puerto Rican Restaurant Opens in East Kensington
Casa Borinqueña, which originally opened as California’s first vegan Puerto Rican restaurant years ago, has Philadelphia as the chosen city for its second location, writes Julia Binswanger for Billy Penn at WHYY. The new East Kensington location opened its doors to customers last week. Casa Borinqueña’s menu features a wide range of traditional Puerto Rican…
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