Economic Development
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Conshohocken-based IKEA Prices Rising by 9% Worldwide in Wake of Production Chain Costs
The prices of IKEA’s products are slated to rise by an average of 9% worldwide during 2022 in response to production chain costs. The planned price markups are in response to cost increases across Ikea’s production chain, reports EUWID. The new price increase comes as a response of the Ingka Group – the company that…
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Ambler-based Phenom Continues Its European Expansion with Acquisition of German Tech Startup
Ambler-based human resources startup Phenom is continuing to expand its European footprint with the acquisition of German tech startup Tandemploy, writes Kennedy Rose for The Business Journal. The financial terms of the deal were not disclosed. This latest acquisition will add a second German office for phenom, in addition to its existing offices in the…
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See Which Three Montco Companies Made Fortune’s 2022 List of World’s Most Admired Companies
Three Montgomery County companies have found their place on the list of the world’s most admired companies for 2022, recently published in a list by Fortune. To determine the ranking, Fortune collaborated with Korn Ferry to conduct a survey of 640 of the highest-revenue companies in the world across 52 industries and 28 countries. Executives,…
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Montgomeryville-based Industrial Real Estate Developer Nappen & Associates Announces Expansion of Tenant, VegTrug
Montgomeryville-based industrial real estate developer and property manager, Nappen & Associates, is pleased to announce the relocation and expansion of its tenant, VegTrug. The tenant will be moving from its 25,000 square foot facility in Montgomeryville to a 53,491 square foot space in Nappen & Associate’s newest construction venture at 1900 Bethlehem Pike in Hatfield.…
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2 Montgomery County Towns Make Top 20 List of Highest-earning Cities in Pennsylvania
Where are the highet-earning cities in PA? WFMZ.com gets the info on the Top Twenty, with two in Montgomery County. Stacker compiled a list of the highest-earning cities in Pennsylvania using data from the U.S. Census Bureau. This data demonstrates the annual income based on education, geography, location, gender, and other factors, These towns are rated by…
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See How Montgomery County Ranks Among Fastest-Growing Counties in Pennsylvania
While the growth of the U.S. population has slowed to a crawl, coming in at just 0.35 percent from 2019 to 2020, some pockets of the country are still recording a steady increase in residents, with Montgomery County in Pennsylvania among them, according to a recently released report by Stacker. To determine the fastest-growing counties…
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Pennsylvania’s Minimum Wage Stagnates as Nearby States Make Improvements
A record number of states will see their minimum wage increase in 2022, but Pennsylvania is not one of them, writes Mike D’Onofrio for the Axios. The minimum wage in the Keystone State has remained at $7.25 since 2009 when it had to be increased to meet the federal rate. It is one of 20…
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Conshohocken’s IKEA Decreases Climate Footprint; Aims to Be Climate Positive Worldwide by 2030
IKEA recently announced this week that it was on track to become climate positive by 2030 since its annual carbon emissions fell 6% from pre-pandemic levels despite record sales, writes Anna Ringstrom for Reuters. According to brand owner Inter IKEA, value chain emissions – meaning everything produced from raw material production to customers’ use and…
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Lower Merion Township Committee Approves Latest Expansion to Suburban Square
Ardmore’s Suburban Square in Lower Merion County is one of the oldest outdoor shopping centers in the country, and the owners Kimco Realty have made several additions to it in recent years. Now the next construction phase is about to begin, writes Richard Ilgenfritz for Mainline Media News. The latest expansion is planned for Coulter…
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King of Prussia’s Medical Linen Company ImageFIRST Expands Footprint to Maine with New Acquisition
Headquartered in King of Prussia, ImageFIRST, the largest provider of linen and laundry services for the healthcare industry, recently announced the acquisition of Pratt Abbott Uniform & Linen in Greater Portland, Maine. This marks the first facility for the company in the state of Maine, reported ImageFIRST. Pratt Abbott Uniform & Linen was first founded…
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Two Montco Companies Among Philadelphia Area Startups to Watch in 2022
Two Montgomery County companies have made the list of thirteen Philadelphia-area startups to watch in 2022, writes Kennedy Rose for The Business Journals. Conshohocken-based ZeroEyes was founded in 2018. Its AI-based platform uses security systems its clients install and video analytics to detect firearms. The startup managed to raise a $20.9 million Series A in…
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Fort Washington-based Toll Brothers Stock Rocked 2021, Showing Amazing Rise
Toll Brothers, a Fort Washington residential home builder, had an amazing last year that saw its stock skyrocket thanks to a strong housing market and despite rising material costs, writes Jea Yu of MarketBeat.com for Investing.com. The company’s shares rebounded sharply on its blowout fiscal Q4 2021 earning results. “We are very pleased with our…
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King of Prussia District Business Community Continues to Inspire with Ingenuity and Compassion
While 2021, like its predecessor, offered numerous challenges with constantly changing protocols and the continued impact of the pandemic, the King of Prussia District business community continued to inspire with ingenuity, compassion, and partnership, writes Shauna Sanchez for visitkop.com. In 2021, the King of Prussia District focused on recovery and helping the business community as…
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One Montgomery County Business Among 20 Philadelphia-area Public Companies with Biggest Market Cap Increases in 2021
Public companies in the Philadelphia area added nearly $122 million to their market caps in 2021. One of those that saw their value increase the most is in Montgomery County, writes Ryan Mulligan for the Philadelphia Business Journal. AMREP Corp, headquartered in Plymouth Meeting, ranked in No. 18. The company recorded a market cap increase…
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Collegeville-based Infinite Blue Continues Rapid Growth, Expands to New Office in Audubon
Collegeville-based Infinite Blue is continuing its rapid growth and is expanding into a new office in Audubon that is six times larger than its current headquarters, writes Kennedy Rose for the Philadelphia Business Journal. The company is moving into 36,000 square feet of space at 2500 Monroe Boulevard that was previously occupied by Optum Health…
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See Which Montco Companies Are Among 20 Best Performing Philadelphia Area Stocks of 2021
Last year was good for publicly traded companies in the Philadelphia region, with over 60 percent of them recording stock price gains in 2021, writes Ryan Mulligan for the Philadelphia Business Journal. The Philadelphia Business Journal looked at 118 publicly traded companies in the area to determine which ones were the biggest winners. It found…
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King of Prussia-based UGI to Acquire Stonehenge Appalachia for $190M
UGI Corp. in King of Prussia will expand the Marcellus Shale gas pipeline network with a $190 million acquisition of Stonehenge Appalachia, writes Andrew Maykuth for The Philadelphia Inquirer. UGI Energy Services, a subsidiary of UGI Corp., will become the new owner of the 47-mile pipeline in Butler County. Stonehenge Appalachia transports natural gas that…
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$31M Mixed-use Development Planned for the Center of Norristown
Philadelphia real estate company MM Partners is planning a $31M apartment and commercial space on Main and DeKalb Streets, writes Natalie Kostelni for the Philadelphia Business Journal. MM is best known for the development of Brewerytown in Philadelphia, and they are planning on using many of the design elements from there in the new Norristown…
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