New Investor

Established in 1832, Janney Montgomery Scott LLC provides comprehensive financial advice and superior service to individual, corporate and institutional investors. A full-service, financial services firm, Janney is committed to providing our individual clients advice through a wealth management approach by focusing on the delivery of strategic financial plans that utilize a variety of financial products and services best suited to help meet their financial goals.

New Investor

VATv are the producers of Corporate, Industrial and Broadcast projects from around the globe. The company produces the Philadelphia Visitor’s Channel which is an exclusive in-room hotel television network serving 59 properties in the region since 1990. Over 4.5 million guests watch the program in the comfort of their hotel rooms. The company is now expanding into the Wilmington DE market with a new network called the Brandywine Visitor’s Channel. | 610-566-0150.

Adminovate Makes Room for Rapid Growth and Expansion in Philadelphia

Adminovate, an insurance software solutions company, has expanded its office space in Center City to make room for an estimated 50 employees in 2013 as part of the company’s rapid growth. The firm’s leaders said “no thanks” to San Francisco and New York and chose to grow in the Philadelphia area with help from Tactix Real Estate Advisors, Select Greater Philadelphia, the City of Philadelphia, PIDC and others.

Since the company launched in January of 2012, there has been an increasing need to have a space that accommodates the firm’s growth plans as they execute on a business development and market awareness strategy along with ongoing product development. Currently the company employs 25 staff members and expects to double in size each year over the next five years.

“Adminovate leased a 5,000 square feet space at 1818 Market Street with the ability to accommodate more staff as they expand further down the road without interrupting any other current operations,” said Bill Kilrain at Tactix.

For Adminovate, the ultimate decision to relocate was a combination of the price, the flexibility in terms of growth, and the proximity to some of the other businesses. Brad Mills of Tactix noted that, “The leasing and management team at 1818 Market worked aggressively to meet Adminovate’s critical pricing and timing requirements.” The firm was also drawn to Greater Philadelphia because of its central location. Company officials noted that even if there is a resource in New York or a convention in DC, it’s just a train ride away. However, the company ultimately chose Greater Philadelphia over a place like Silicon Valley because of the deep roots and connections that exist in the Philadelphia area.

Tactix, a commercial real estate tenant representation firm, contacted Select Greater Philadelphia about Adminovate to get help with information and data on the region and business and government connections. Select Greater Philadelphia worked with Tactix to help the leadership at Adminovate better understand the government resources that might be available to the company as it locates and grows in the region.

“Adminovate could have potentially gone up towards New York or even to California, so it’s pretty exciting for us to see that they’ve chosen to stay here and to grow here,” said Alice Solomon, Assistant Vice President of Business Development for Select Greater Philadelphia.

“The City of Philadelphia was helpful in providing information on how taxes are structured and what to expect on the future impact of taxes on our business,” said Kevin Walma, Chief Information Officer at Adminovate. “Select Greater Philadelphia was instrumental in bringing everyone to the table…that was a big help because things were changing so rapidly and we needed quick answers.”

Adminovate CEO Chris Doggett said, “Our facility at 1818 Market supports our growing staff, but also creates the environment of innovation and business acumen needed to host clients, prospects, as well as our technology and service partners.”

A majority of the staff at Adminovate spent nearly 10 years working together at a previous insurance software company called “AdminServer”, a successful endeavor located in Philadelphia and later purchased by Oracle.

“We had built an insurance policy administration system that was considered not only by our customers but by industry analysts as something that had really changed the game,” said Walma. “We had taken advantage of technology to make a rules-based policy administration system that allowed our customers to develop their insurance products faster and get them to market and save money.”

About a year ago, Doggett and Chief Architect Christopher Gali got on the horn and started calling people with another software architecture idea. They wanted to get the band back together and build another company. It didn’t take much convincing for a number of them to get signed up working together again.

“What we’re building is again unique and transformational in the insurance software industry”, said Walma. “We’re going to grow really fast and we have very confident attitudes about how the company will be perceived in the market and how well it’s going to go. It’s just a matter of timing.”

The software that Adminovate develops is the backbone of what insurance companies use to administer information. When you call an insurance company representative, that person on the other end of the line is using the insurance policy administration system to take your last name or your phone number or your social and look up the coverage you have, how much premium you’ve paid, when your next premium is due, and what claims can be filed against that policy, for instance.

The company is currently in its research and development stage and hopes to have its first release candidate ready by the end of the year.

“In terms of recruitment, we’re looking for software developers with 5 to 10 years of experience working on large scale enterprise application with the combination of technology that we use here which is primarily a Microsoft-based technology.” said Walma.

Governor Corbett to Lead Delegation to Brazil and Chile in Efforts to Expand Economic Opportunities in Pennsylvania

Governor Tom Corbett will lead a delegation of Pennsylvania business, tourism and university leaders on a business development mission to Brazil and Chile next spring that will focus on creating new economic opportunities and job growth in the Commonwealth.

“Brazil and Chile are two of the world’s fastest growing economies and we have seen a growing interest in the market from Pennsylvania companies,” Corbett said. “Strengthening our trade relationship with these countries will lead to new business growth and jobs for Pennsylvanians.”

As part of the Governor’s Jobs First initiative, the Department of Community and Economic Development (DCED) is organizing the April 2013 jobs mission to Brazil and Chile in partnership with Team Pennsylvania Foundation. The trip will be paid for through private funding.

The mission will concentrate on growing the Pennsylvania economy and creating jobs by promoting Pennsylvania’s export market and world class port system, attracting foreign investment, enhancing international student recruitment, and promoting Pennsylvania as a top destination for tourism.

“I am committed to creating an economic climate that positions Pennsylvania to compete for jobs in the U.S. and throughout the world,” Corbett said. “As the chief executive of the world’s 20th largest economy, I am leading this delegation to help open new opportunities for job growth.”

Brazil’s economy is currently the seventh largest in the world and the top economy in South America with a Gross Domestic Product (GDP) of $2.08 trillion in 2011. Chile is the fifth largest economy in South America with a GDP of $212.7 billion. Together, Brazil and Chile are Pennsylvania’s seventh largest export destination and recently, there has been an upward trend in exports to both countries. This past year alone, Pennsylvania’s Office of International Business Development has experienced an increase in activity from its trade clients in both markets.

In March 2012, Corbett led a business development mission to France and Germany. Over the course of six days, the delegation participated in meetings, seminars, events and business-to-business appointments. As a result, seven trade agreements are already under consideration and an estimated $1.25 million in new export sales have been generated.

“Greater Newark: It All Adds Up” Unveiled to Regional Audience Newark is Open for Business

The New Castle County Chamber of Commerce, the City of Newark and the University of Delaware came together the evening of October 23 at the WL Gore Barksdale Road facility to launch a new brand campaign aimed at marketing the Greater Newark region as a place for economic development, growth and success. “Greater Newark, it all adds up” has hit the ground running.

“This was the idea of former Newark City Councilman Paul Pomeroy to bring greater economic opportunities to Newark,” said Chamber President Mark Kleinschmidt. “We hosted a series of focus groups and roundtables over a period of 18 months trying to get at the heart of what and how we could market Newark as a place for economic opportunity,” Kleinschmidt said.

“With this new campaign we are letting people know that Newark is rolling out the red carpet for business,” said Newark City Manager Carol Houck. “We are looking forward to the future,” she said.

During a video presentation Kleinschmidt detailed Newark’s attributes from proximity to roads and rail to a close-by deepwater port to the city’s easy links to four major metropolitan areas. “Greater Newark has five key attributes to economic success and growth: location, workforce, the University of Delaware, quality of life and access.”

Kleinschmidt expanded on each noting that 50% of greater Newark residents have a four-year degree or higher — twice the national average. The university is listed in the top 100 of national universities, plus it is ranked in the top 3% of all research institutions. Newark also boasts an award-winning Main Street.

Michael Smith, manager for the Chamber’s Greater Newark Economic Development Program (GNEDP) unveiled a brand new website, and provided a virtual tour of the site. Some of the highlights include area statistics including tax rates, cost of living, demographics, even automobile traffic counts. Other links provide information on local commercial real estate with square footage, zoning, ceiling height and more.

“The site is a clearinghouse of business and economic information at your fingertips,” said Smith. “But, the site and this initiative will also support existing businesses and also help with retention and expansion, plus it is an open source for all to use,” Smith concluded. “This showcases Greater Newark to the rest of the county and the world, it will launch, grow and help businesses succeed in the region,” said Kleinschmidt.

The “It all adds up” campaign for Greater Newark will be promoted through community events, billboards, print publications, social media and more. “Tonight is just the beginning, it’s an exciting program,” said Newark Mayor Vance Funk III.

Greater Philadelphia Ranks among Top 10 Major U.S. Metros in 2012 AIER College Destinations Index

The Greater Philadelphia region ranked among the top 10 Major U.S. Metros in 2012 AIER College Destinations Index, which includes the top 75 towns and cities in the United States for college students, based on a larger evaluation of the 227 U.S. metropolitan statistical areas (MSAs) with student populations of 15,000 or more.

In creating the Index, a dozen factors are evaluated using the most current data available from the Census Bureau, Bureau of Labor Statistics, Department of Housing and Urban Development, Integrated Postsecondary Education Data System, National Science Foundation, and Small Business Administration to provide a snapshot of each community’s overall academic and cultural environment, quality of life and employment opportunities in the area.

Philadelphia reached top 10 on the AIER College Destinations Index based on the area’s performance across 12 factors including: Academic Environment, Quality of Life, Cost of Living, Arts and Leisure, City Accessibility, Creative Class, Professional Opportunities, Entrepreneurial Activity, Unemployment Rate, and Brain Gain/Drain.

According to Steven Cunningham, AIER Director of Research and Education, “The characteristics that make up a great college destination often make a location ideal for business, retirement and tourism. A top AIER College Destinations Index ranking should be just as important to the town or city as it is to the schools located there and the families and students attending or considering them.”

Virtua Health & Wellness Center in Moorestown Opens in December

The new Virtua Health and Wellness Center in Moorestown will open in December of 2012 and will offer access to physicians, exercise, as well as nutrition and support programs.

Set on 18 acres in Centerton Square at 401 Young Avenue in Moorestown, NJ, the 200,000-square-foot center will be a source of health and wellness including a fitness center, spa, and physicians’ offices. The facility will also feature healthcare services including an urgent care center, physical and cardiac rehab, and a diabetes and nutrition program.

Peirce College Launches Its First-Ever Master’s Degree Program

Peirce College launched its first-ever Master’s Degree program — a significant milestone in its nearly 150-year history as one of Philadelphia’s most respected institutions of higher learning. The inaugural master’s degree will be a Master of Science in Organizational Leadership & Management (MSOLM), beginning fall 2013.

The introduction of the Master of Science in Organizational Leadership & Management program is part of Peirce College’s foundational mission to continually meet the needs of working adult students, and to support their career advancement.

James J. Mergiotti, president and CEO of Peirce College, stated, “While Peirce has offered bachelor’s degrees since 1997, there is still a perception that we are a junior college. This announcement of our first-ever master’s degree program continues the evolution of Peirce College and ends this long-standing misperception of who we really are.”

The MSOLM degree program provides essential skills for developing organizations and increasing organizational effectiveness, focusing on organizational behavior, development, structure, leadership, and management. Graduates will be prepared for successful, rewarding careers in organizational change, consultation, leadership, and management.

“We opened our doors as a business school in 1865, began offering bachelor’s degrees 15 years ago, and today offer a complete curriculum of associate and bachelor’s degree programs that span a range of disciplines. We are very excited to introduce this new graduate program, which will further meet the career advancement goals of Peirce College students and alumni,” said Mergiotti.

Patricia A. Rucker, Senior Vice President and Provost noted: “Today more than ever, it’s essential for students to differentiate themselves in a crowded job market. Graduate degrees enable them to open doors and move more quickly into management or leadership roles. This program meets a critical need for career-oriented Philadelphia area residents looking to build a complete resume that grabs attention…”

Graduates of the program will be able to utilize decision-making and business development skills in their careers. The program includes 12 different courses, totaling 36 credits. Prospective students must have a bachelor’s degree with a GPA of 2.75 or above, and will need to submit an application, essay, and letters of recommendation, as well as participate in an interview to be considered for enrollment in the program. Interested students should contact the Peirce Graduate Studies Admissions Office at [email protected] or 215.670.9325.

Maney Publishing Expands North American Presence in Philadelphia

Maney Publishing, an independent publishing company specializing in academic journals, celebrated the opening of its new North American at 2 Penn Center Plaza in Philadelphia last month. The office will extend the publisher’s existing relationships and bring new opportunities to widen its reach in Canada and the USA.

Maney publishes academic journals in materials science and engineering, the humanities, and health science. The company delivers journals in print and electronic formats that are international in scope and peer-reviewed. With offices in Leeds and London in the UK, and now in Philadelphia in North America, Maney publishes extensively for learned societies, universities and professional bodies around the world.

The founding of this office plays a vital role in Maney’s expansion and growth plans. Michael Gallico, CEO of Maney Publishing, comments “We have had a presence in the USA for many years at our Cambridge office, but firmly establishing ourselves in North America now will broaden Maney’s presence and demonstrate commitment to the company’s philosophy of delivering research, knowledge and innovation worldwide. At the same time we can work more closely with our North American customers, society partners, editors and authors.”

Temple League for Entrepreneurial Women Inducts RoseAnn B. Rosenthal as Hall of Fame Member

RoseAnn B. Rosenthal joined the Temple University League for Entrepreneurial Women Hall of Fame, during the 13th annual Women’s Entrepreneurship Conference.

Held Oct. 23 in Mitten Hall on Temple’s Main Campus, the conference featured a keynote speech by World TeamTennis CEO and Commissioner Ilana Kloss, two panel discussions focused on succeeding in the sport industry and maintaining work-life balance, the Hall of Fame induction ceremony, and a resource expo for entrepreneurial women. This year’s conference was themed “Game Changers: Success Stories from Entrepreneurial Women in Sport.”

Rosenthal, President and CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania, has forty years of experience in business investment, regional planning and economic development. Ben Franklin is a national model for technology innovation, investing in innovative enterprises and creating commercialization partnerships throughout the region. Rosenthal is a Board Member of numerous regional companies and organizations, and is an inaugural member of the National Advisory Council on Innovation and Entrepreneurship. She has led and supported initiatives to stimulate investments in women-owned and operated technology enterprises, including the formation of the Alliance for Women Entrepreneurs (AWE).