Economic Development
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4 Montgomery County Companies Make Fortune 500 List Again for 2022
Thirteen publicly traded companies from the Philadelphia region, including 4 from Montgomery County, once again made the Fortune 500 list in 2022, writes Ryan Sharrow for the Philadelphia Business Journal. The Fortune 500 ranks the companies by annual revenue. AmerisourceBergen Corp in with distribution and pharmaceutical services came in on the list at No. 8,…
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Baederwood Shoppes in Jenkintown Sells for Second Time in As Many Years
Regency Centers has acquired an 80 percent stake in Baederwood Shoppes on the Fairway in Jenkintown, which is anchored by Whole Foods and Planet Fitness, writes Ryan Mulligan for the Philadelphia Business Journal. The seller was Charter Realty and Development, which bought Baederwood in partnership with Inland Real Estate Group for $44 million in January…
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$1.6 Billion in Funding Connects Montgomery County and PA Bridges with Upkeep and Safety Resources
Pa. will receive $1.6 billion in funding to repair 3,000 bridges across the state, writes Priyanka Singh for Contractor News. The once-in-a-generation boost is being facilitated through the Bipartisan Infrastructure Law. The major initiative was first unveiled earlier in the year by Gov. Tom Wolf and U.S. Dept. of Transportation Secretary Pete Buttigieg. “This is…
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Hobart’s Run Hosts Successful Pottstown Neighborhood Summit
Entire communities benefit when organizations work together to create affordable housing such as the Beech Street Factory lofts at 341 Beech St., according to Ben Lockwood, President and CEO of Housing Visions, Syracuse, N.Y., a nonprofit that works to create such below-market accommodations. Speaking at the Hobart’s Run Neighborhood Summit on Saturday, May 14, Lockwood…
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Montgomery County Ranks High Among 50 Highest-Earning Counties in Pennsylvania
Montgomery County is among the highest-earning counties in Pennsylvania, according to a new report by Stacker. To determine the areas that earn the most in the Keystone State and nationwide, Stacker used data from the U.S. Census Bureau to rank counties by 2019 5-year estimated median household income. Montgomery County ranked in second place with…
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See Which Montgomery County Public Companies Ranked Among Those Who Added/Lost Most Employees in 2021
One Montgomery County company is among the ten Philadelphia-area public companies that added the most employees in 2021, and one is among those that lost the most employees, writes Ryan Mulligan for the Philadelphia Business Journal. Many Montgomery County publicly traded companies plumped up their workforces as COVID-19 eased and employees returned to work in…
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CEO of Willow Grove and Plymouth Meeting Malls’ PREIT Talks Evolution of Malls in 21st Century
After two years of limited social interaction and several months of closed doors, PREIT, owner of Plymouth Meeting Mall and Willow Grove Park Mall, is seeing record high portfolio-wide sales of $618 per square foot, writes Al Urbanski for the Chain Store Age. The company is also currently being inundated with requests for space. “No…
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Bala Cynwyd-based Developer’s Plan to Build Quality Inn Site Apartments Nixed by Township Due to Crime
A Bala Cynwyd-based developer’s plan to build an apartment complex at the site of the Quality Inn in West Goshen was rejected by township supervisors who voted unanimously to nix the proposal, writes Bill Rettew for the Daily Local News. The roughly nine-acre site at Stanton Avenue and Route 202 is zoned Limited Commercial, which…
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PREIT Reports 2022 Q1 Results Featuring the Upcoming Family Entertainment Center at Willow Grove Park
PREIT releases 2022 Q1 results as well as news for Willow Grove Park’s new family fun center with Tilt Studio and Tilted 10, reports PREIT. “Our portfolio of assets continues to draw interest from investors and tenants interested in assets and parcels. We continue to focus on executing on the near-term plan to exercise our credit…
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Exton Square Mall to be Acquired by Brandywine Realty Trust
Pennsylvania Real Estate Investment Trust (PREIT), who owns Montco’s Plymouth Meeting Mall and the Willow Grove Park Mall, has agreed to sell Exton Square Mall to Brandywine Realty Trust, who has many offices in Montgomery County, for $27.5 million, writes Natalie Kostelni for the Philadelphia Business Journal. PREIT previously disclosed that the property has been…
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Co-Founder of Toll Brothers Sees Plenty of New Business Opportunities Despite World’s Turbulence
Bruce Toll, the co-founder of Fort Washington-based Toll Brothers and principal of Dresher-based BET Investments, is seeing plenty of new business opportunities appear from the current turbulent situation in the world, writes Joseph N. DiStefano for The Philadelphia Inquirer. Toll has long diversified the fortune he acquired through the luxury homebuilder. His firm has bet…
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Something Old, Something New, Something Borrowed, Something from Ukraine…
When Coatesville resident and bride-to-be Megan Teti found the right designer for the wedding dress of her dreams, she was not expecting Maria Kolomoiets to continue working on it after having to flee her war-ravaged home in Ukraine, writes Beccah Hendrickson for 6ABC. Searching for the perfect gown for her perfect day, Teti was delighted…
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For Millennials Seeking New Type of Office Space, Conshohocken’s Seven Tower Bridge Could Be the Answer
With employees resisting a return to the office after two years of working from home, employers are trying to find locations that better fit what their millennial workforce are now looking for in an office space – and Conshohocken’s Seven Tower Bridge could be the answer, writes Julia Troy for the BISNOW. “People are now…
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Showroom in Willow Grove Offers Minority-Owned Businesses Chance to Thrive
Philly Shared in Willow Grove is a retail showroom for small businesses that offers minority-owned businesses the chance to thrive, writes TaRhonda Thomas for 6abc. The shop, which is located on level one of Willow Grove Park Mall, is owned by Annette Kennedy-Harris and Christin Austin-Evans, who have been friends for 16 years. The showroom…
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As Netflix Loses Subscribers, Vanguard Funds Lose Billions of Dollars
With Netflix losing about 200,000 subscribers between January and March, Vanguard funds that hold shares of the streaming service have lost more than $12.9 billion, writes Ryan Sharrow for the Philadelphia Business Journal. As of April 4, Vanguard owns a combined 33.56 million shares of Netflix, or about 7.55 percent. This makes Vanguard the largest…
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‘We Are a Victim of Our Own Success’: The Pros and Cons of This Main Line Community’s Continued Growth
As Ardmore continues to grow and attract more residents and businesses, not everybody is happy about the prospect over the increased traffic and density effects, writes Michael Bradley for Main Line Today. One of the latest projects includes 70,000 square feet of retail space and 279 apartment units with 615 parking spaces. This development is…
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Audubon-Based Infinite Blue’s New HQ Was Created with Tech Employees in Mind
The tech company Infinite Blue is expanding into space six times larger than their current digs, reports Holly Quinn for Technical.ly. The space, with 36,000 sq ft, began renovation last fall, and is home base for part of its workforce, with many employees working in other part of the United States, India, and Dubai, remotely.…
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California-Based Biotech Company Opening Temporary Base in King of Prussia, Exploring Montco for Future Sites
California biotech company Exelixis is opening a temporary base in King of Prussia in June as it explores sites in the King of Prussia, Conshohocken, and Plymouth Meeting areas for a future built-to suit expansion, writes Natalie Kostelni for the Philadelphia Business Journal. The company’s temporary 23,000-square-foot space at 640 Freedom Business Center Drive will…
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