Business Briefs: South Side startup incubator to receive $1.8 million federal grant
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South Side-based startup incubator Innovation Works' Agile Hardware Design Center will receive $1.8 million in federal funds to boost regional advanced manufacturing jobs. The center will use the money to start and support companies that use advanced manufacturing and companies that support commercialization of products through advanced manufacturing. The organization won the funds through the Advanced Manufacturing Jobs and Innovation Accelerator Challenge, which awarded $20 million to 10 companies.
A Monroeville-based development company will build multiple flex-type industrial facilities on nearly 28 acres in the I-70 Industrial Park in South Huntingdon, the Westmoreland County Industrial Development Corp. announced Wednesday. The project by the Shalestone Group is expected to create about 200 jobs. The parcel was purchased for $552,200 by the Wendell H. Stone Co., of which Shalestone is a subsidiary. The WCIDC said Shalestone will cater to the needs of industrial as well as oil and natural gas exploration firms that have entered the region to explore Marcellus Shale.
The largest recall in Toyota's 75-year history is threatening to undermine the carmaker's comeback from natural disasters and embarrassing safety problems. The company on Wednesday recalled 7.43 million cars, trucks and SUVs worldwide to fix faulty power window switches that can cause fires. The recall affects more than a dozen models in years 2005-2010.
Americans will pay more to heat their homes this winter not because of fuel prices, which will be relatively stable, but because this weather is expected to be seasonably cold, according to the annual Winter Fuels Outlook from the Energy Department's Energy Information Administration. Last winter was the warmest on record. Heating bills will rise 15 percent for natural gas customers, the EIA announced Wednesday.
The Labor Department said Wednesday that job openings dropped by 32,000 to 3.56 million in August. July's openings were also revised lower. The job market remains very competitive. With 12.5 million people unemployed in August, there were 3.5 unemployed people, on average, competing for each open job. In a healthy economy, that ratio is 2 to 1.
Northwest Bancshares Inc., parent of Northwest Savings Bank, said Deborah Chadsey was elected to its board of directors. Ms. Chadsey is a partner in the Buffalo, N.Y., law firm Kavinoky Cook. ... Personalized Distribution Systems Inc. has notified the state Department of Labor & Industry that it plans to close a plant in Eighty Four and lay off 114 employees by mid-December, saying in a letter that it lost a contract to provide delivery services to Wendy's restaurants. ... Shadyside-based Wizzard Software on Tuesday officially changed its name to FAB Universal Corp. The company's NYSE ticker symbol is FU.
First Published October 11, 2012 12:14 am