Businesses interested in supporting educational programs in Pennsylvania can begin filing applications for the Educational Improvement Tax Credit (EITC) program this month. Tax credits up to 90 percent are available to eligible businesses contributing to a Scholarship Organization or an Educational Improvement Organization, and up to 100 percent for a Pre-Kindergarten Scholarship Organization.
If you are a current participant and you:
- Are entering year two of a two-year cycle, or
- Have just completed a two-year cycle and are applying for a new two-year cycle
Your filing date for 2022 credits is Monday, May 16, 2022
Normally, the early filing date is May 15th, but since that falls on a Sunday this year, DCED has set the early filing date to Monday, May 16th, the first business day after the 15th.
If you:
- Are entering the EITC program for the first time
- Have been past a participant but have been knocked out of the program
- Are currently participating, but want to apply for additional tax credits above your current allocated amount
Your filing date is Friday, July 1, 2022
Pass-through entities, such as S-Corporations, Partnerships, LLCs, etc., can now apply the same day as C-Corporations. Applications must be submitted electronically using DCED’s Single Application for Assistance. Click here for the business application guide.
Businesses may not file before May 16 or July 1, but may fill out the application ahead of time, save it, and then submit it any time between 12:00 a.m. and 11:59 p.m. on the appropriate date. It’s important to file on those exact days.
For those who support Educational Improvement Organizations (EIOs) like The Foundation of The Columbia Montour Chamber of Commerce, this side of the program has been oversubscribed for many years. Most likely, this means that if you are entering the program for the first time, applying to get back into the program, or applying for additional credits, the $37.5 million in available EIO tax credits may be exhausted by the filing date of July 1. However, businesses are encouraged to still apply for EIO credits because businesses drop out of the program every year and there may be EIO credits available. There is no penalty or obligation to apply.
All businesses authorized to do business in Pennsylvania and who are subject to one or more of the following taxes:
- Personal Income Tax
- Capital Stock/Foreign Franchise Tax
- Corporate Net Income Tax
- Bank Shares Tax
- Title Insurance & Trust Company Shares Tax
- Insurance Premium Tax (excluding surplus lines, unauthorized, domestic/foreign marine)
- Mutual Thrift Tax
- Malt Beverage Tax
- Retaliatory Fees under section 212 of the Insurance Company Law of 1921
Businesses that donate to an approved EIO or Scholarship Organization (SO) receive a credit on their Pennsylvania tax liability in the current fiscal year. If you participate for one year, your tax credit is 75 percent of your contribution up to a maximum of $750,000 per taxable year. If you make a two-year commitment, your tax credit increases to 90 percent of your contribution, again up to $750,000 per year.
For contributions to Pre-Kindergarten Scholarship Organizations, a business may receive a tax credit equal to 100 percent of the first $10,000 contributed, and up to 90 percent of the remaining amount contributed up to a maximum credit of $200,000 annually.
For more information on the EITC program, click here.
For the complete application guidelines, click here.
Talen Energy Corporation (“TEC”) announced on May 10th a major step in its corporate transformation with a recapitalization transaction that is expected to greatly strengthen the financial position of its Talen Energy Supply LLC (“TES” or the “Company”) subsidiary. The transaction will include a new equity investment of up to $1.65 billion, which will accelerate TES’ clean power transformation, advance carbon-free data center growth initiatives, and maximize value to stakeholders.
TES has executed a restructuring support agreement (“RSA”) with an ad hoc group of TES’ unsecured noteholders (the “Consenting Noteholders”). The Consenting Noteholders collectively hold approximately 62% of principal amount of TES’ unsecured notes. Pursuant to the RSA, certain of the Consenting Noteholders have agreed to enter into a backstop commitment with respect to a common equity rights offering of up to $1.65 billion, subject to certain adjustments at closing. The Consenting Noteholders have also agreed to equitize more than $1.4 billion of their unsecured notes pursuant to the Plan. TES expects additional senior unsecured noteholders will join the RSA in the coming weeks.
In addition, TES has secured $1.76 billion of debtor-in-possession financing (the “DIP Facilities”) led by Citigroup, Goldman Sachs, and RBC Capital Markets. The DIP Facilities are comprised of a $1.0 billion term loan, a $300 million revolving credit facility, and $458 million letter of credit facility. The $1.0 billion term loan is being provided by an investor group of leading financial institutions.
In order to effectuate the consensual restructuring contemplated by the RSA, TES and certain of its subsidiaries have voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Pursuant to the RSA, the Company plans to confirm its plan of reorganization approximately six months following the commencement of this restructuring.
TEC, its Cumulus Growth subsidiary, and TES’ LMBE subsidiaries are excluded from the in-court process. TEC’s Cumulus Growth platform will continue executing on its business plan, constructing carbon-free hyperscale data centers and digital coin processing facilities, as well as renewable energy and battery storage development projects to meet rapidly growing consumer demand for clean, reliable energy. These projects, together with TES’ generation assets, and complementary decarbonization projects, will advance the transformation of the overall business into a clean energy and digital infrastructure platform.
TES expects to continue its day-to-day business in the normal course and intends to move as quickly as possible through the process. TES has filed customary “first day” motions with the Court to ensure no interruption to employee wages, healthcare, and other benefits as well as the ability to conduct routine business with vendors and other business partners, including the resumption of hedging activities. TES’ plants will continue to generate needed electricity for the markets they serve.
Click here for the full press release.
The newest member of The Columbia Montour Chamber of Commerce is JLink Inc., a privately held company for over 20 years, providing internet services, computer sales, and service networking.
The complete IT company offers tailored services that will optimize your company’s IT Service. JLink has that small-town connection with an enterprise class network. They can be located in Bloomsburg at 390 Montour Blvd., or by phone at 570-389-6400.
You can find out more information on JLink Inc. by visiting their website at www.jlink.mobi or by visiting their official Facebook page.
JLink Inc. joins over 425 members of The Columbia Montour Chamber of Commerce to receive benefits and support the Chamber’s efforts to enhance the region.
36th Annual Danville Spring Fling is This Saturday
Spring Fling is an annual celebration of the foods, sites, and sounds that make Danville a special place. The streets of downtown Danville are closed to traffic for this family-friendly festival on Saturday from 9:00 a.m. to 4:00 p.m.
Downtown businesses, plus more than 200 vendors from central Pennsylvania and surrounding states converge for this fun outdoor event. The event is also a showcase of our nonprofit organizations, who demonstrate the giving spirit of the community by raising awareness and funds for their causes.
Located on Mill, East Mahoning, West Mahoning, East Market and Lower Mulberry Streets in downtown Danville map. Parking is free on nearby streets and surface lots.
Swift Kennedy’s Jerry Calistri Earns Self-Funding Specialist Certification
Jerry Calistri, President and CEO of the insurance brokerage firm Swift Kennedy & Associates, has been designated as a Certified Self-Funding Specialist by the Health Care Administrators Association.
To earn this certification, Calistri completed comprehensive courses about alternative funding and Third-Party Administration, which highlighted the advantages of using self-funded health care plans, such as level-funded policies.
Calistri is a Senatorial Member and PAC Board Member of Health Agents for America, a member of the International Foundation of Employee Benefit Plans, and a member the National Association of Health Underwriters. In addition, he is a Certified Healthcare Reform Specialist.
He has over 30 years of experience in the employee benefits industry, including working at the Pennsylvania Employees Benefit Trust Fund in Harrisburg and at Geisinger Health Plan as Regional Sales and Operations Manager for the Western Region.
Encina Community Open House is Scheduled for Next Wednesday
Encina has announced plans to invest $1.1 billion to build a new manufacturing facility in Point Township that would create 300 new full-time jobs. This proposed state-of-the-art facility would be the first in the region to use advanced technologies to convert post-consumer materials into feedstock that can be used to manufacture thousands of new products.
Encina is working with relevant agencies on permitting and feasibility work related to the site. Construction is expected to begin in fall 2022, and the facility is expected to be fully operational by fall 2024.
Stop by anytime from 5 – 8:00 p.m., meet the team, enjoy refreshments and learn about the project. The event will be held at the American Legion Post #44 at 301 Point Township Drive in Northumberland.
Hospitality Industry Focused Roundtable Discussions
If you are in the hotels, motels, restaurants, breweries, wineries, event venues, and caterers industry, then there will be a roundtable discussion to discuss your current issues. You will also hear some of the best practices from your peers and learn more about available resources. You can join in-person or virtually on Monday, May 9th.
There will be two separate events that you can choose from:
- Wyndham Garden Hotel, Hosted by PA Career Link from 10 a.m. to 12 p.m. (Register here)
- Rusty Rail Brewing Company, Hosted by Bucknell SBDC & Susquehanna River Valley Visitors Bureau. (Register here)
General contractors have an opportunity to perform housing rehabilitation work with SEDA-Council of Governments (SEDA-COG) in 15 different communities throughout our region.
SEDA-COG is requesting contractor bids for work in the following communities: the Boroughs of Berwick, Jersey Shore, Milton, Mount Carmel and South Williamsport. The Counties of Juniata, Montour, Snyder, Sullivan, and Perry. The Cities of Lock Haven, Shamokin and Sunbury, the Town of Bloomsburg, and the Township of Mount Carmel.
Contractor work may include structural, roofing, plumbing, electrical, heating/furnace, window replacement, radon mitigation, energy-related improvements, and, if they have certain certifications, lead-based paint mitigation. Also included are modifications for mobility-impaired residents. There is no cost to homeowners who maintain home residency over a five-year period from the date of signing.
Housing rehabilitation bids typically range from $20,000 to $65,000, with timely payment to contractors.
Local communities and SEDA-COG strive to work with local contractors to invest in the local economy, said Teri Provost, director of SEDA-COG’s Housing Rehabilitation program.
“We know that along with many others, contractors’ workload has been hard hit by the effects of the pandemic. With our housing rehabilitation work, we not only help our communities by rejuvenating housing stock, but we invest in our workforce by bidding out to local contractors,” Provost said.
Provost continued, “Contractors can choose where they want to work, so there’s tremendous work flexibility. Additionally, our work is year-round, so we offer a steady flow of projects. And if they don’t want to perform lead-based paint mitigation, we don’t require that certification for lead-free homes.”
Interested contractors also have the option of meeting one-on-one with SEDA-COG to answer any questions they may have. SEDA-COG streamlines the process for contractors with a rehabilitation specialist assigned to each community.
For more information and contractor requirements, contact SEDA-COG’s Danielle Rippon at 570-524-4491 or drippon@seda-cog.org.
Since 1989, SEDA-COG’s Housing Rehabilitation Programs has invested $27 million in 9 counties and over 1,000 homes. As a community and economic development agency, SEDA-COG enhances the quality of life and economic advantage for residents and businesses in 11 central Pennsylvania counties through its vital partnerships and initiatives. SEDA-COG also is an advocate for the interests of its communities at the state and federal levels. For more information, visit www.seda-cog.org.
The Pennsylvania Department of Transportation (PennDOT), in cooperation with the Federal Highway Administration (FHWA), will host a Public Hearing and receive public comment in-person, online and by mail on an Environmental Assessment (EA) prepared for the I-80 Nescopeck Creek Bridges Project in Luzerne County.
The I-80 Nescopeck Creek Bridges is a candidate for bridge tolling through the Major Bridge Public-Private Partnership (MBP3) Initiative, as part of the PennDOT Pathways Program. The Pathways program seeks to identify potential alternative funding solutions for transportation in the state. Under the initiative, tolls collected would be used for the replacement bridges’ construction, maintenance and operation.
The in-person Public Hearing will take place from 3:30 p.m. to 7 p.m. Thursday, May 12, at the Nescopeck Township Social Hall, 510 Zenith Road in Nescopeck. An open house display on the project will begin at 3:30 p.m. with public testimony starting at 4:30 p.m. All materials that will be presented during the open house, including a project overview, maps, low-income tolling details, diversion route improvements and EA documents, are available online and accessible on-demand at www.penndot.pa.gov/i80Nescopeck through May 27. A physical copy of the EA is also available for review at McBride Memorial Library, 500 N. Market St., Berwick.
PennDOT and FHWA encourage the public to review and comment on the EA during this 30-day period. All comments will receive equal consideration regardless of the method of submission, whether they are provided verbally in person, in writing, via email, through U.S. mail or by way of a form on the online hearing page.
Options to provide comments are as follows:
- Public testimony will be received at the in-person hearing before an audience with a stenographer. Those providing testimony are asked to register in advance at www.penndot.pa.gov/i80Nescopeck or by calling 570-218-3559. Oral testimony will be limited to five minutes per participant and the number of slots will depend on available time.
- Individuals may provide testimony privately in a separate hearing room with a stenographer.
- Written comments may be brought to the in-person hearing, completed at the event and deposited in a comment box, or mailed to: PennDOT District 4, Attn: I-80 Nescopeck Creek Bridges Project, 55 Keystone Industrial Park, Dunmore, PA 18512.
- Comments may be emailed to i80Nescopeck@pa.gov.
- The public may provide comments through the form available online at www.penndot.pa.gov/i80Nescopeck.
- Comment forms will be provided at the in-person Public Hearing and at locations where the EA is available for review.
The Columbia Montour Chamber of Commerce Board of Directors opposes PennDOT’s plan to begin tolling nine bridges along Pennsylvania interstates beginning in 2023. The Board believes that PennDOT did not follow the proper process for selecting the bridges and that spot tolling will cause unnecessary disruptions to businesses and local communities. The Chamber has joined the statewide No P3 Bridge Tolling Coalition to advocate that PennDOT work with the legislature to identify long-term solutions to fund Pennsylvania’s infrastructure that do not cause such disruptions.
The Central Susquehanna Valley Board of Realtors is the newest member of The Columbia Montour Chamber of Commerce. CSVBR is a nonprofit organization whose message is “The Voice of Real Estate in the Five County Area”. This association serves Columbia, Montour, Northumberland, Synder and Union Counties, and has over 300 members.
The association is a big proponent of community service and advocacy, supporting property and homeownership rights. The main office of CSVBR can be found in Danville on 558 Mill St., Suite 102. You can find out more info on the association through its website which can be found here. Do you want to get in contact with them? They can be reached at 570-275-7818.
The Central Susquehanna Valley Board of Realtors joins over 425 members of The Columbia Montour Chamber of Commerce to receive benefits and support the Chamber’s efforts to enhance the region.
Bloomsburg YMCA Approved as a Pre-K Scholarship Program Through the Pennsylvania Education Improvement Tax Credit Program
The Bloomsburg YMCA is pleased to announce that they have been approved as an Pre-K Scholarship program through the Pennsylvania Education Improvement Tax Credit program. (EITC) Pennsylvania provides tax credits for corporate contributions to Pre-K Scholarship Organizations (PKSOs), nonprofits that provide pre-k school scholarships and Educational Improvement Organizations (EIO), or nonprofits, that support innovative programs in public schools. Tax credits are worth 75 percent of the contribution; however, a 90 percent credit can be claimed if the corporation commits to two consecutive annual contributions. In either case, the maximum tax credit is $750,000 per company. Credits are awarded to companies on a first-come, first-served basis until the cap is reached. The total amount of tax credits is limited to $110 million. For more information on how businesses can apply, visit https://dced.pa.gov. For additional information on supporting the YMCA program please contact Wayne Stump, CEO at the Bloomsburg YMCA at 570-784-0188 or wstump@bloomsburgy.org
The Exchange’s Listening Room Presents Stephanie Joyner
The Listening Room returns to Facebook Live and in-person with Stephanie Joyner! You can watch the show live on their Facebook page and the full performance will be posted the to YouTube afterward. If you would like to attend in the live audience, they have limited seats available; call 570-317-2596 or e-mail them at Exchange@ExchangeArts.org to reserve yours (donations accepted at the door). Masks are required and vaccinated guests only.
Stephanie Joyner’s sound: “the art of painting with music.” With a broad vocal range and her multi-genre styling, she textures her musical storytelling with an array of life’s adventures. Her originals reflect the seasons of life, boisterous and intimate. Simple vocal and guitar presenting relaxed and honest musical adventures! “JOYN HER”!
Members will have the opportunity to learn more about issues impacting employers at an upcoming breakfast program.
The event, sponsored by Montour Solar One, will be held Thursday, June 16th beginning at 8:00 a.m. at the Pine Barn Inn.
Alex Halper, Director of Government Affairs with the PA Chamber of Business & Industry, will provide an overview of the 2022-23 state budget, as well as other business-related issues being discussed in Harrisburg. Senator John Gordner and Representative David Millard are scheduled to participate and offer comments. Attendees will be invited to ask questions and offer comments.
Click here to register.
What’s So Cool About Manufacturing program is a video based educational tool that increases awareness of career paths in manufacturing. MRC developed this innovative career awareness program that at its core is “peer marketing” (kids telling kids what’s so cool about manufacturing jobs). The contest is showcased on the What’s So Cool website and shared nationally through the Manufacturing Institute and the Manufacturing Extension Partnership platforms.
This contest gives students the opportunity to connect with local manufacturers, document their experiences and present them in an educational and “cool” way. The contest was created to generate excitement that draws students towards manufacturing career paths, and CTE and STEM education. The Central Susquehanna WSCM contest is made possible by The Foundation of the Columbia Montour Chamber of Commerce, Innovative Manufacturers’ Center (IMC), Advance Central PA, Central Susquehanna Intermediate Unit (CSIU) and Blast IU.
The contest featured schools from Columbia, Lycoming, Montour, Northumberland, Snyder, and Union counties.
Best Overall Performance: Selinsgrove Middle School/Bright Farms
Viewer’s Choice: Selinsgrove Middle School/Bright Farms
Outstanding Team Spirit: Danville Middle School/Strong Industries, Inc.
Outstanding Brand Placement: Lewisburg Donald H. Eichhorn Middle School/Playworld Systems, Inc.
2 District and Manufacturer partners moving on to the State Competition: Selinsgrove Middle School/Bright Farms and Central Columbia Middle School/Kawneer