Category: Chester County

bookmark_borderWhy Do Business in Philadelphia?

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PHILADELPHIA, PA — Located midway between New York and Washington DC Philadelphia is a strategic location on the East Coast, and is at the center of a dynamic and thriving region of over 6.1 million people. We offer an ideal environment for established companies and entrepreneurs.

  • Philadelphia is the nation’s fifth largest city, with the third largest residential downtown in the country.
  • Compared to major peer cities in the northeast region, affordable Class A office rental rates, lower labor costs, and inexpensive cost of living, make Philadelphia a smart financial choice for your business location. Read more.
  • In partnership with the Philadelphia Industrial Development Corporation, the City works with companies of all types to offer resources and incentives for new and growing businesses in Philadelphia, including:
    • Low-cost financing and tax credits for job creation
    • Site selection assistance for publically owned properties
    • Assistance to support workforce recruiting and training

Call the Department of Commerce at 215.683.2100 or email startupphl@phila.gov for more details.

Key Sectors in Philadelphia

The City’s economy is anchored by a diverse set of industries, such as life sciences and healthcare, professional services, advanced manufacturing and logistics, hospitality and a growing startup community.

With tens of thousands of tech workers, Philadelphia’s tech scene is a tight-knit community that finds collaboration and innovation from within.
Philadelphia’s rich manufacturing heritage has developed into a diverse and sophisticated advanced manufacturing sector today.
Strong research infrastructure supports the nation’s 2nd largest Life Sciences clusters.
Our clean technology sector is supported by a network of private and public resources that attracts growing companies.
With one of the most vibrant art, theater, music and museum scenes in the country, private creative firms thrive in Philadelphia.
From automobiles to pharmaceuticals, diverse industries take advantage of Philadelphia’s transportation networks.
The City has made substantial investments in its convention and tourism infrastructure, driving private investment in hotels.
Revisions to City tax regulations have enhanced the business climate for investment companies.

International Business Attraction

The City of Philadelphia invites businesses from around the world to explore the many benefits of locating here. A diverse city with a growing international reputation of vibrancy and excellence, 17% of Philadelphia’s population are foreign-born or immigrants.

We play an integral part in attracting foreign business and investment and increasing opportunities for Philadelphia-based companies looking to expand abroad, whatever the size or industry. We provide comprehensive assistance through our strategic partnership with key partners such as the World Trade Center, Philadelphia Convention and Visitor Bureau, State of Pennsylvania, and International Visitors Council.

We can help you identify:

  • Best markets and networks
  • Trade leads
  • Investment opportunities
  • Financing Location Financial Incentives

Commerce also helps coordinate inbound and outbound trade missions for Philadelphia representatives, raising our profile among foreign investors and increase international business opportunities for Philadelphia businesses.

bookmark_borderChester County Based Fraud

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PHILADELPHIA, PA — The FBI issued a statement saying Christopher Stehm, 51, of Mason, Ohio, was charged with defrauding his employer, Berwyn-based Ametek Inc., of at least $659,731, announced United States Attorney Zane David Memeger. According to the information, Stehm was the chief accounting officer at two different offices of the company when he submitted phony claims for expense reimbursements, many of which he supported with doctored receipts. Stehm is charged with two counts of wire fraud and two counts of filing false tax returns.

Stehm was the controller for Ametek’s Chandler division in Broken Arrow, Oklahoma, from about January 2006 through March 2010. In April 2010, Ametek promoted Stehm to be the vice president of finance at its HCC division in Cincinnati, Ohio, and Stehm held that position until November 2012. In both positions, Stehm was his office’s chief accounting officer. According to the information, throughout his employment at Ametek, Stehm used a variety of methods to obtain “reimbursements” for expenses that he either never incurred or that were wholly personal in nature. These methods allegedly included cutting off the tops of receipts or “whiting out” portions of receipts that Stehm submitted with his expense reimbursement claims to make them appear to be business-related. Stehm also allegedly used copies of the same receipts to support multiple expense reimbursement claims.

Ametek is a publicly traded company (symbol AME on the New York Stock Exchange) that manufactures electronic instruments and electromechanical devices for sale in numerous countries. The company is headquartered in Berwyn, Pennsylvania, but it has offices in numerous locations in the U.S. and overseas.

The information alleges that among the numerous personal expenses Stehm submitted for reimbursement from Ametek were repairs to his personal cars, private meals, and the purchase of a family dog. Stehm also allegedly hid his illegal income from the Internal Revenue Service and claimed baseless deductions when he filed his tax forms for 2010 and 2011, thereby under-reporting his annual income by more than $100,000 in each of those tax years.

If convicted of all charges, the defendant faces a maximum possible sentence of 46 years in prison, three years of supervised release, a $1 million fine, and a $400 special assessment.

The case was investigated by the FBI and the Internal Revenue Service Criminal Investigations. It is being prosecuted by Assistant United States Attorney Mark B. Dubnoff.

An indictment or information is an accusation. A defendant is presumed innocent unless and until proven guilty.