JPMorgan Chase to Supply Grant for the University City Science Center

JPMorgan Chase announced on May 20 that it will be providing a $200,000 grant over two years to the University City Science Center, which will support the Center’s Port business incubator along with other economic development initiatives.

“The Science Center has existed at the intersection of innovation and economic development for 52 years,” said Stephen Tang, Science Center President and CEO in a press release. “We are honored and delighted to partner with JPMorgan Chase to help entrepreneurs and innovators turn flashes of inspiration into thriving businesses.”

The press release also mentioned the economic impact of the Science Center, noting that it has created 15,000 jobs and driven over $9 billion in the Philadelphia region. Mark Schrieber, Executive Director and head of the Greater Philadelphia middle market commercial bank for Chase, noted, “As impressive as those numbers are, we at Chase want to see them grow. And I am proud to announce here today that Chase is committing a $200,000 donation to attract new businesses and give them the tools they need to succeed.”

To see the full press release, visit the University City Science center website here: https://www.sciencecenter.org/science-center-news/press-release-jpmorgan-chase-grant-supports-innovation-and-entrepreneurship-at-university-city-science-center

Commercial Development Company, Inc. Announces Redevelopment Plan in Claymont, DE

The Commercial Development Company Inc. (CDC) has revealed a redevelopment proposal for the 425-acre waterfront property in Claymont, Delaware formerly known as Evraz Steel Mill.

The plan to redevelop the property proposes the reestablishment of the historic state crossroad as well as the rebuilding of the former steel mill. The “First State Crossing” plan will establish the historic site as an area of economic growth in Delaware and preserve the Naamans creek for recreational use.

The CDC intends for the site to host a mixed use space of offices, warehouses, railroads, highways, and more in order to drive economic growth the the area.

For more information, read the full Business Wire article here: http://www.businesswire.com/news/home/20150210006189/en/Commercial-Development-Company-Purchases-425-Acre-Shuttered-Steel#.VV4xX7lVhBc

Thomas Jefferson Health Systems and Abington Health Complete Biggest Healthcare Merger in Region’s History

Thomas Jefferson Health Systems and Abington Health have recently united in what Philadelphia Magazine calls the biggest healthcare merger the Philadelphia region has ever seen.

This union has been in progress since October 2014, when a letter of intent was signed by each organization. The binary healthcare system, now known as “Jefferson,” will be home to over 19,000 employees and 1,700 inpatient beds. There will be five hospitals associated with the new merged entity, including Abington Memorial Hospital, Thomas Jefferson University Hospital, Jefferson Hospital for Neurosciences, Lansdale Hospital, and Methodist Hospital.

The chair seat is to be split between the two heads of each organization, with the boards having equal representations as well.

“The speed of this merger’s closing is proof positive that we have closely aligned cultures,” said Larry Merlis, executive vice president and chief operating officer of Jefferson Health in the Philadelphia Magazine article. “[These are] built on a combined vision to reimagine health, health education, and discovery to create unparalleled value and be the most trusted healthcare partner.”

Check out the full Philadelphia Magazine article here: http://www.phillymag.com/business/2015/05/05/jefferson-abington-complete-mega-merger/

Complete the Greater Philadelphia Metro Export Plan Business Survey

Help increase regional business growth by taking the Metro Export Plan Business Survey. The Economy League of Greater Philadelphia, the World Trade Center of Greater Philadelphia, and various partners in the Philadelphia region have developed a metro export plan in order to help business growth in the Greater Philadelphia region. The survey is designed to reveal local companies’ experiences with exporting, which will help to create the metro export plan that is being developed for the region in 2015.

The 10-minute confidential survey is designed to gather information about area businesses’ current exporting activity, challenges, and needs. In addition to contributing to a more effective export growth plan for Greater Philadelphia, everyone who completes the survey will have the option to be entered to win a $150 Garces Restaurant Group gift certificate.

Click the link to complete the survey:

http://www.surveygizmo.com/s3/2052799/Business-Survey-Greater-Philadelphia-Metro-Export-Plan

Questions? Contact Anne Marie Bonner at [email protected].

New Shared Office Space Set to Open on Broad and Locust

Industrious, that is the name of a new shared office space set to open this May on the corner of Broad and Locust Streets in Philadelphia.

When completed, it will feature 37 private office spaces spanning the first and second floors of the building. Co-working seats are limited to 10 per office in order to preserve the space for those who have offices within the building.

Over half of the space is already occupied, with more than a dozen industries claiming space in the new building. Perks such as catered lunch once a month and daily refreshments are offered as part of the services from our region’s newest shared office space.  To learn more, contact Kristine Chin, Industrious Office Manager, at [email protected].

Philadelphia Residents View City in Positive Light

A recent study conducted by the Pew Charitable Trust found that 48 percent of Philadelphians believe that the city is headed in the right direction. With over 60 percent of residents noting that they plan to remain in Philadelphia 10 years from now, and another 67 percent stating the city will be a better place in five years, the overall image of Philadelphia is decidedly optimistic. The facts seem to confirm this belief with unemployment rates dropping three percent since 2010, an additional 8,800 jobs gained in 2014, and an all-time low homicide rate.

The full Pew Report can be seen here: http://www.pewtrusts.org/~/media/Assets/2015/03/2015-State-of-the-City_Web_FINAL.pdf?la=en

Delaware Ranked Number 1 in the Country for Internet Speed, Named Innovation Champion

The Consumer Electronics Association (CEA) named Delaware the number one state for fastest internet speed, as reported by the D.C.-based newspaper The Hill. The average rate in the state is 16.2 megabits per second. The company also named Delaware an “Innovation Champion.”

“We’re excited to provide our members and the public with a multi-dimensional look at what makes a state a great home for tech products and services, companies and startups,” said CEA’s Gary Shapiro in a Technical.ly Philly article.

The full Technical.ly Philly article can be read here: http://technical.ly/delaware/2015/04/15/fastest-internet-speed-innovation-champion-consumer-electronics-association/

Rowan University Hosts Southern New Jersey Development Council Natural Gas Infrastructure Investment Seminar

Rowan University hosted a seminar on Natural Gas Infrastructure, organized by the Development Council’s Energy and Environmental Committee, at the South Jersey Technology Park in Mullica Hill on March 25.

New Jersey is #3 in the United States for renewable energy, with over 35,000 solar installations and a mission to prevent air pollution. New Jersey also has thousands of miles of gas mains and intrastate transmission lines, meaning that safe and effective energy production is essential to providing energy efficient alternatives.

Other topics discussed include New Jersey’s natural gas supply and demand market and two natural gas transmission projects that will help meet the state’s needs. The first project is The Port Ambrose Deepwater Project, which was designed by Liberty Natural Gas LLC. It is an infrastructure project that will deliver natural gas to the New York and New Jersey market during times of high demand.  The second project involves a pipeline that will provide natural gas to Atlantic and Cape May counties.

“These supply and pipeline developments have the potential of transforming the traditional paths of supply sourcing into the region, creating a more diverse supply mix and a more varied delivery network,” said Tom Kiley, President & CEO of The Northeast Gas Association. “This bodes well for regional supply security and economic competitiveness.”

To learn more about the Southern New Jersey Development Council, visit http://www.snjdc.org/.

South Jersey Behavioral Health Innovation Collaborative Launched by Five Major Health Systems and New Jersey Hospital Association

Five major health systems in southern New Jersey, including Cooper University Health Care, Inspira Health Network, Kennedy Health, Lourdes Health System, and Virtua, the New Jersey Hospital Association, and the Camden Coalition of Healthcare Providers launched the South Jersey Behavioral Health Innovation Collaborative on April 15 at Virtua’s Barry D. Brown Health Education Center. Rich Miller, Virtua president and CEO, hosted the event in Voorhees, New Jersey. The goal of the collaboration was to provide an innovative way to improve the system while evaluating the current behavioral health system and also to provide engagement between patients, families, and providers in order to help mitigate the challenges they face.

The CEOs of the five hospitals, along with their teams, were in attendance to hear James Schuster, chief medical officer for the Community Care Behavioral Health Organization, talk about his groundbreaking project, “Optimizing Behavioral Health Incomes by Focusing on Outcomes that Matter Most for Adults with Serious Mental Illness.”

More information can be found here: http://www.njha.com/pressroom/2015-press-releases/apr-15-2015-south-jersey-hospitals-launch-collaborative-to-improve-access-to-behavioral-health-services/

Angel Capital Association to host 2016 Summit in Greater Philadelphia

The Angel Capital Association (ACA), the world’s leading group of accredited angel investors, will host their 2016 Summit from May 9 – 11 in Philadelphia at the Pennsylvania Convention Center.

The 2016 Summit will bring more than 800 entrepreneurs from all over North America to connect with business and civic leaders in our 11-county region, and with each other to discuss investment opportunities and strategies.

In a recent PRNewswire article, ACA Executive Director Marianne Hudson noted, “Philadelphia will be a fantastic host city.” She went on to praise the city’s many assets, stating, “given the strong civic support and economic development engine that punctuates a stellar startup ecosystem of universities, incubators, accelerators and a thriving foundation of active angel investors, [Philadelphia will provide] excellent corporate connections and integration.”

This is the first time the ACA has selected Greater Philadelphia for their annual Summit, and it would not have been possible without the collaborative, active support from several leaders.  Special thanks to Mike DiPiano of New Spring Capital, Josh Kopelman of First Round Capital, Wayne Kimmel of SeventySix Capital, Ira Lubert of LLR Equity Partners, Richard Vague of Gabriel Investments, and Steve Zarrilli of Safeguard Scientifics for helping to make attract this Summit to our region.  Please join in recognizing RoseAnn Rosenthal of Ben Franklin Technology Partners and Katherine O’Neill of JumpStart NJ for bringing this opportunity to the forefront; to Jack Ferguson and the PHLCVB team for showcasing the Pennsylvania Convention Center so expertly; and to Bill Sasso of Stradley Ronan Stevens and Young and Pat Harker of the University of Delaware for hosting the meeting where this opportunity was introduced.

To learn more, visit the Angel Capital Association website here: http://www.angelcapitalassociation.org/