Conference puts focus on investing in Pottstown
POTTSTOWN » Spurring economic development and investment in Pottstown’s commercial and residential properties was the focus of the second Pottstown Investors’ Conference at The Hill School Friday.
More than 80 potential and current investors, as well as representatives from area businesses, nonprofits and the community came together to learn about the investment climate in Pottstown.
The event was hosted by the Hobart’s Run neighborhood revitalization initiative and The Hill School.
“I hope there will be even more interest, and that Paid will make more connections to help people in commercial development,” Peggy LeeClark, executive director, Pottstown Area Industrial Development Inc. said about the event. “I hope there are people here that are new and hearing something for the first time but they have concrete plans for how to be part of the progress.”
Among the speakers were state Sen. Robert Mensch R24th Dist., who spoke at the end of the morning session, as well as representatives from Pottstown institutions including: Pottstown Hospital, the Pottstown School district, Pottstown Borough government, Montgomery County Community College, The Hill School, The TriCounty Area Chamber of Commerce, Pottstown Area Industrial Development Inc. and the Pottstown Downtown Improvement District Authority.
Mensch told the group about legislation he is planning to introduce next week that would expand the benefits of the current 21st Century Manufacturing Tax Reduction program. Currently, manufacturers investing more than $100 million into their businesses can qualify for a 5 percent reduction on their corporate tax. Mensch wants to expand that program to provide a 10 percent reduction for companies investing between $1 million and $10 million; and 7.5 percent for companies investing between $10 million and $100 million.
“It’s not just about the tax benefits, it’s also about bringing new jobs into the economy,” he said.
Montgomery County’s Director of Commerce, Dave Zellers, talked about the “Craft of Economic Development,” and how it can help as organizations and individuals make investments in Pottstown.
Zellers said there are certain things about economic development that are predictable, but there are also elements of creativity.
“When you bring those things together that leads to the craft,” he said.
Zellers urged the group to look at everything as it works to build investments in Pottstown: all infrastructure, the community, health and well-being, technology, quality of life and the educational system.
“If we’re not addressing those things we cannot move forward in a way that will bring true economic development,” he said.
He stressed that the way to move forward is in building strong partnerships — with state, county, regional and local organizations.
“Partnerships are important and give weight and substance to the investments being made,” Zellers said.
Twila Fisher, manager of community and economic
development for The Hill School, echoed Zellers’ call to partner and strategize.
“One of the encouragements from this day as we hear folks share and we think about our involvement in the community — is to think ‘how can I step up my game as a leaders and how can I continue to touch the lives of people around me in a way that has the most impact,’” Fisher said.
The anchor institution reports included comments from: Rich Newell, CEO Pottstown Hospital/Tower Health; Justin Keller, interim borough manager for Pottstown; Mike Bettinger, director of government relations and external affairs, MCCC; Stephen Rodriguez, superintendent, Pottstown School District; Cathy Skitko, director of communications, The Hill School; Eileen Dautrich, executive director, TriCounty Area Chamber of Commerce; Sheila Dugan, main street manager, Pottstown Downtown Improvement District authority; and Peggy LeeClark, executive director, Pottstown Area Industrial Development Inc.
According to Fisher, the
brief presentations allowed the organizations to recap what they have been working on.
Newell talked about Pottstown Hospital being acquired by Reading Hospital last fall, becoming part of Tower Health.
“We have been going through that transition, and I am happy to report that it is going very smoothly. And what’s nice about having a regional partner is that they recognize what we are dealing with at the local level,” he said.
Newell explained that one of the first things Tower Health did was recognize the age of the hospital — it was built in 1973.
“Tower Health has already invested $4 million in infrastructure improvements — with another $8 million to be invested in 2019,” he said.
Keller outlined Pottstown’s assets, attractions and infrastructure improvements.
“We are preparing for future development, laying the groundwork and making sure we’re ready when the pace starts to pick up,” he said.
Keller also outlined the borough’s willingness to meet with investors about potential projects before the project begins.
“We encourage people to come to us with their ideas. We’ll sit down with you. We’ll go over the project, identify any hurdles to overcome and make you aware of opportunities,” he said.
In 2017, five new businesses opened in the downtown area, with another six planning to open in 2018, according to Dugan.
“The traditional downtown district is being redefined and changing to meet the needs of today’s modern society,” she said. “Progress is happening in our downtown.”
The attendees were also able to get information about tax credits available through Pennsylvania’s Neighborhood Tax Credit Program.
A working lunch followed, where attendees were asked to focus on coordinating revitalization efforts for the next year.
The event wrapped up with a demonstration of The Hill School’s Proposed Social Interventions Lab, which would allow Hill School students to “pitch” solutions to problems to a panel of potential investors.