New Member Highlight – Susquehanna Community Bank

July 6, 2023

New Member Highlight – Susquehanna Community Bank

Susquehanna Community Bank was founded on March 13, 1920, with 201 accounts and resources of $49,000 in the village of West Milton, PA along the Susquehanna River.

Today, they have finished in the top 25% of banks in the state of Pennsylvania for 2012-2022 according to a leading bank performance report of 8 different performance criteria. Today, we have over 30,000 accounts and $550 million in Assets.

Their growth has been gradual, but they couldn’t be prouder of where we are today. In 1972 the Bank built a new building, the current location for the West Milton branch, to accommodate customers' growing staff and emerging needs. That growth led to the addition of six new branches throughout the years: Lewisburg in 1987, Mifflinburg in 1994, Watsontown in 1997, Beaver Springs in 2005, Northumberland in 2015, and Williamsport in 2019.

Although the Bank has seen many changes over the last 100 years, their mission as an independent community bank to “help our family, friends and neighbors succeed” continues to be the same.

Learn more about Susquehanna Community Bank.

Quarterly Business Matters Hits Newsstands

July 5, 2023

Quarterly Business Matters Hits Newsstands

Thanks again to our partner The Press Enterprise, the newest edition of Business Matters has officially hit newsstands (today)! Inside the edition, you'll see a recap of the last quarter's member news highlights, ribbon cuttings, events, and more. You'll also get a sneak peek at upcoming programs and events, and business news that will impact your business in the coming months. Special thanks to Special Editions Editor Shawn Stair for another wonderful publication.

Would you like copies of Business Matters for your waiting room or lobby, or to share with your friends? Stop by the Chamber or request copies by calling (570) 784-2522.

Member News – July 5, 2023

July 5, 2023

Member News – July 5, 2023

Service 1st Federal Credit Union Announces New President/CEO

Service 1st Federal Credit Union recently held its Annual Meeting and shared newly elected board members and honored retiring President/CEO Bill Lavage. Lavage and Steve Endress, Service 1st Board Chairperson, also introduced Mike Thomas, Chief Financial Officer, as the credit union’s new President/CEO. See the full announcement here.

Bloomsburg Children's Museum Announces July Programs

The Bloomsburg Children’s Museum, 2 West 7th Street, is pleased to announce its July 2023 programs. See the full July Calendar here.

DRIVE to Host Community Broadband Meeting

DRIVE is seeking community engagement during discussions on broadband use and experiences. The community meeting is from 11:30 a.m. to 1 p.m. on July 6 at the DRIVE Professional Building at 418 Railroad St. in Danville. Residents of Columbia, Montour, Northumberland, Snyder, and Union counties are invited to attend.

Bason Coffee Roasting to host Cops & Coffee July 8, 10 am - 12 pm

Bason Coffee Roasting invites you to chat with police officers from local departments at the retail store at 453 Mill St. on Saturday July 8, as they get to know the community better. Free drip coffee will be available!

Benton Frontier Days Celebration Championship Rodeo and Bull-A-Rama July 11-16

The Benton Rodeo is considered one of the best of over 65 rodeos east of the Mississippi River, as voted by the American Professional Rodeo Association and draws cowboys and cowgirls from all over the country as well as Canada. They come to the rodeo to show what they've got and to compete with the best of the best. The Benton Area Rodeo Association is a non-profit organization whose goal is to stimulate tourism to the Benton area to provide fundraising opportunities to Local Charities, Service Groups, Fire Companies, Ambulance Associations, Scouts, and Churches. This event is growing each and every year, so don't sit at home. Come be a part of this awesome event. You won't be disappointed.

Commonwealth University - Bloomsburg Offers Parking Help

Commonwealth University - Bloomsburg is making their hospital parking lot available until classes start on August 21, 2023, for those customers and business owners who are losing their parking spaces due to the construction on the East Pine Avenue lot construction. Thank you to Commonwealth University - Bloomsburg for the help to Bloomsburg businesses.

SEDA-COG Joint Rail Authority Celebrates 40 Years

On June 29th, the SEDA-COG Joint Rail Authority was officially incorporated under the provisions of the Municipality Authorities Act. The JRA would have its first board meeting on July 6, 1983, and would finalize the purchase of the first rail lines a year later, on July 27, 1984...the rest is history! Congratulations to SEDA-COG Joint Rail Authority.

Guest Blog: How to Rekindle Old Friendships

Brookdale Senior Living shares how to reconnect with friends with whom you've lost touch. Read more.

Happy 97th Birthday to Knoebels Amusement Resort!

Knoebels celebrated Independence Day and their birthday on July 4th, noting that they're only three years away from a season-long 100th-anniversary celebration. Happy Birthday!

Drive-through Senior Expo Planned

On Wednesday, August 2, 10:00 am - 1:00 pm, a Drive through Senior Expo will be sponsored by State Representative Robert Leadbeter's office. See flyer for more details.

Emergency Planning Committee to Meet

Columbia County Local Emergency Planning Committee (LEPC) will meet on Monday, July 10, 2023, at 4:45 in the County EOC.

Mark Sassani Show at The Exchange

Now through July 21st Mark Sassani's Solo Show will be at The Exchange. His fine-art expression consists mainly of colorful landscapes of east-central and northern-tier Pennsylvania. See full show details here.

CSIU To Hold Free Training

Educators, First Responders, and Community Members register today for free trainings on Youth Mental Health First Aid and QPR Suicide Prevention. See a full list of dates and times here.

Villa Sacred Heart Summer Festival Planned

July 8th, 10:30 - 5:00 Villa Sacred Heart in Danville will host a Summer Festival. Baked goods, Flea Market, food trucks, and more!

WWII Weekend Happening in July

The annual WWII weekend hosted by the Stuart Tank Memorial Association will be happening July 14th - July 16th. This free event features battle and weapon demonstrations, military and food vendors. Learn more.

IMC to host Webinar Series

The Innovative Manufacturers' Center will be hosting a free four-part webinar series about attracting and retaining employees. The series starts July 25th. See full details.

NEPIRC Manufacturing Day: October 13

Join NEPIRC on Friday, October 13th to celebrate the many contributions of our region’s manufacturing industry! At Manufacturing Day, you’ll be able to see product demonstrations; learn more about the cool products made right here in our local communities, and more!

Membership Morning: Interactions and Information

July 3, 2023

Membership Morning: Interactions and Information

Across the Chamber industry, two adages take hold: first, that "Chambers of Commerce do what most people think just happens", and second, that "Businesses don't join Chambers to connect with the staff, but to do business with other members." With this in mind, the Columbia Montour Chamber has reinvented its traditional "New Member Orientation", into something we believe will be even more accessible and helpful to our members. On June 29th, members had the opportunity to connect with the event's reimagined name and format. Now called "Membership Morning", the event was about far more than new members (although new members really seemed to enjoy it). In addition to the opportunity for new members to learn about their member benefits for the first time, Membership Morning is designed in part as a "speed networking" event and a reconnection point for all members. Thanks to our gracious hosts at LCBC, who have hosted orientations for several years, thirty Chamber members enjoyed dedicated networking time in the LCBC Studio space after moseying through the incredible "Finding Nemo" decorations set up for LCBC's summer programming.

Chamber partners World Kinect Energy and My Benefit Advisors each took time to meet with new members at informational booths, while Taryn Crayton, Director of Member Engagement chatted with attendees about events, publications, and more. Following the timed networking sessions, Chamber President Chris Berleth gave a brief big-picture overview of what the Chamber does, how to get involved in committees and initiatives, and how to take advantage of Chamber resources.

Membership Mornings will be a quarterly initiative for the chamber with the next one happening in early November.

Events like these are made possible by the investment of the Chamber's Visionary and Advocate members. Thank you for your sponsorship of our Member Mornings!

Hoping to connect before November? We hope you'll check out all chamber happenings by making sure you are getting the E-Biz Weekly newsletter, and connecting with us via social media. Reach out to Taryn at tcrayton@columbiamontourchamber.com to get on the newsletter list, or to share your member news.

New Member Highlight – Neighbor Lady Vino

June 29, 2023

New Member Highlight – Neighbor Lady Vino

Neighbor Lady Vino, established in 2023, and joined the Chamber in April 2023, is located in New Columbia. The winemaker, with over 15 years of experience, specializes in dry reds and creates a wide variety of sweet wines. Complete with wine-inspired cocktails, PA beer, and wine slushies, they have something for everyone.

The venue, with its fireplace and lounge sets, embodies a cozy atmosphere to bring friends, families and neighbors for a relaxing time out, while the outside deck and lawn area promise to be a fun filled space.

They look forward to seeing you there or at many of the events in the Bloomsburg and Milton areas! To see what events are happening check out their website.

For Sale: 238 Market Street

June 28, 2023

For Sale: 238 Market Street

In anticipation of The Columbia Montour Chamber of Commerce's relocation to the soon-to-be-opened Mulberry Mill Complex on Market Street, the Chamber's current home, at 238 Market St. in Bloomsburg, is now for sale on the commercial market. The Chamber is pleased to be working with long-time member and realtor Carey Smith, and her team at Century 21 Covered Bridges Realty.

To view the Chamber's online listing or to connect with Carey, visit here.

June BAH Recap: A Quality of Living Pathway…and Dignity

June 28, 2023

June BAH Recap: A Quality of Living Pathway…and Dignity

By Chris Berleth, President Columbia Montour Chamber of Commerce

If you’ve been keeping up with your Columbia Montour Chamber of Commerce over the past several years, you’ve probably heard us talk about ‘pathways’ and ‘pipelines’. Yes, you’ve heard us talk about natural gas pipelines, and through the Chamber’s Foundation, you’ve likely heard about workforce and talent pipelines or the “path to careers” programs which connect students and workers to meaningful career experiences. (If you haven’t heard about either, you absolutely must connect with the good work being done by Jeff Emanuel to galvanize of our workforce.) Today, I’m excited to shed light on an emergent pipeline in Columbia and Montour Counties– a quality of life pipeline so-to-speak, or, as The Gatehouse would call it, a “pathway to independence”.

With seven rooms (five dedicated to families, and two for individuals), The Gatehouse is a shelter for the homeless that empowers its residents as they seek to gain independence as quickly as possible. Through employment services, furthering education, and life skills development (like financial literacy classes), The Gatehouse connects residents to employment, educational and rental assistance opportunities through the PA CareerLink, Central Susquehanna Opportunities, and the Department of Human Services. They are the first step on the path, or the first section of pipe.

Blocks from the Chamber, at the site of a 100-year-old former church in downtown Bloomsburg, stained-glass windows shed light on the second part of the pipeline. Dubbed “Bill’s House”, after Bill Brobst, who donated it to the community, the building has been transformed by Community Strategies Group (CSG) from a spiritual sanctuary to a physical one, complete with nine individual apartments.

In June, the Chamber held its Business After Hours at Bill’s House thanks to a partnership between CSG, The Exchange, and The Gatehouse, and the event was a smashing success. Gathering in the former sanctuary of the church, which is now home to the Sanctuary Gallery, CSG Deputy Director Josh Nespoli explained the vision for the space, and introduced Jon Gabry, a blind and deaf artist whose use of textured paints and vibrant color were humbling to behold.

In the pin-drop silence of the room, Nespoli recounted the vision: The Gatehouse shelters and equips the homeless, who transition to Bill’s House on a path to independent living. Once successful there, residents will have an opportunity to strike out on their own, and, with CSG’s help, their newfound success can continue right here, as affordable housing at the soon-to-be opened Mulberry Mill complex brings the former Bloom Mills site back to life.

As guests left with art pieces under their arms and mesmerized smiles at Mr. Gabry’s work, your Chamber did its best to slip our most recent project under their arms as well – the fresh-off-the-printer relocation guide assembled by the Chamber, the Columbia-Montour Visitor’s Bureau, and Victor Koons Graphic Design, called “Quality Living in Columbia and Montour Counties.”

We’ve heard over and over again, and we agree that one of the stories that must be told about our region is its appeal for families, for businesses, and for visitors. We’re excited that we’ll get to see first-hand the success of the residential portion of the Mulberry Mill complex (the Chamber will be relocating later this summer to the commercial space in the first floor), but we’re most excited that the mentality so prevalent in our two-county footprint is on care for one another, goodwill, and quality of life. Hat’s off to The Exchange and The Gatehouse for creatively partnering together, but a special nod should be tilted towards our friends at Community Strategies Group, who capped the Business After Hours with a big announcement: they’ve been awarded the inaugural “Kathy A. Possinger Achievement Award” by PA’s Department of Community and Economic Development, for their tireless efforts and integral role in improving the lives of lower income persons.

May you soon stop in to see Chamber members like these, who make Columbia and Montour Counties such an incredible place to live, work, and play – with an extra dose of dignity.

An Unexpected Boost to Value – From Income Taxes

June 28, 2023

An Unexpected Boost to Value – From Income Taxes

Source: McKonly & Asbury
By: Eric Blocher, CPA, ASA, CVA

In my last article, “What A Difference A Year Can Make – Interest Rates,” I discussed factors that are out of a business owners’ control that can impact the value of their businesses. I highlighted increasing interest rates and other economic factors, such as inflation (increasing costs for materials and labor), that can negatively impact the value of a business. On the other hand, positive impacts can also occur; for example, if your business is a Pennsylvania C Corporation it may have become more valuable in 2023.

Pennsylvania Governor Tom Wolf signed House Bill 1342 (H.B. 1342) into law in July 2022. One of the most important aspects of H.B. 1342 is that it established a phased in reduction of the Pennsylvania Corporate Net Income (PACNI) tax rate, which will be effective in the 2023 tax year. Through 2022 the PACNI tax rate has been 9.99%. However, beginning in 2023 the PACNI tax rate is reduced to 8.99%. In subsequent years, the PACNI tax will be reduced to 8.49% in 2024, 7.99% in 2025, 7.49% in 2026, 6.99% in 2027, 6.49% in 2028, 5.99% in 2029, 5.49% in 2030, and 4.99% for tax years beginning January 1, 2031 and years thereafter. The 5% decrease in PACNI results in future tax savings and an immediate increase in the value of a Pennsylvania C Corporation.

Any decrease in the effective tax rates (a combination of the Federal and State tax rates) of a business will have valuation implications. If you are using a Discounted Cash Flow methodology, the projection period will be longer to account for the time until the effective tax rate has stabilized. As the tax rate changes the Weighted Average Cost of Capital (WACC) will change each year if the Company has debt. The present value factor used to discount the cash flows each year should be tied to the WACC for that year and the applicable effective tax rate for that year.

I have estimated the effective tax rates for Pennsylvania C Corporations to be 28.10% for 2023, 27.71% for 2024, 27.31% for 2025, 26.92% for 2026, 26.52% for 2027, 26.13% for 2028, 25.73% for 2029, 25.34% for 2030, and 24.94% for 2031. I have based the tax rate calculations on the Tax Cuts and Jobs Act of 2017 and PA H.B. 1342.

To explore the potential impact of a decreasing effective tax rate, I ran two simplified valuation scenarios using the same WACC assumptions of 20% debt / 80% equity, a 22% cost of equity and a 7% cost of debt. I used identical inputs of annual earnings before tax of $1 Million, no depreciation, no capital expenditures, and no incremental working capital requirements. The only difference in the two scenarios is the change in the effective income tax rates and the resulting impact on the WACC. The first scenario used a static 29% tax rate (a reasonable assumption prior to the impact of H.B. 1342) and the second scenario used the effective tax rates calculated above. The result of the first scenario is a calculated enterprise value (the value of both debt and equity) of $4,158,311. The second scenario with decreasing effective tax rates resulted in an enterprise value of $4,293,082, a 3.24% increase in value. The only difference in the two scenarios is the decreasing effective tax rates. In this case, a change in tax rates results in an increase in the value of a business operating as a Pennsylvania C Corporation.

Visit our webpage for more information on McKonly & Asbury’s Business Valuation Services. Should you have questions about the impact of increasing interest rates, or business valuations in general, don’t hesitate to contact T. Eric Blocher CPA, ASA, CVA.

Member News – June 28, 2023

June 28, 2023

Member News – June 28, 2023

Commonwealth University - Bloomsburg Offers Parking Help

Drive through Senior Expo Planned

On Wednesday, August 2, 10:00 am - 1:00 pm there will be a Drive through Senior Expo sponsored by State Representative Robert Leadbeter's office. See flyer for more details.

BIDA Works with Berwick Borough Police Department for Active Shooter Training

Berwick Industrial Development Association (B.I.D.A.), worked with Berwick Borough Police Department and Chief Kenneth Strish and their active shooter training program which included volunteers from the community. See the full press release here.

Knoebels Celebrating 50th Birthday of Haunted Mansion

June 30th at 11:00 am with a panel of Haunted Mansion legends and birthday cake. Check out all they have planned for this spooky celebration.

Town of Bloomsburg Presents an Independence Day Celebration

Starting at 4:00 pm at Bloomsburg Town park there will be an Independence Day Celebration including fireworks at dusk. See flyer for more details.