Governor Rendell Says Pennsylvania Investing $2.55 Million to Keep Receivable Management Services in Lehigh Valley; Retain 800 Jobs

GOVERNOR RENDELL SAYS PENNSYLVANIA INVESTING $2.55 MILLION TO KEEP RECEIVABLE MANAGEMENT
SERVICES IN LEHIGH VALLEY; RETAIN 800 JOBS

PROJECT TO LEVERAGE $12 MILLION IN PRIVATE INVESTMENT

Governor Edward G. Rendell today announced Pennsylvania is investing $2.55 million in loans and grants to keep Bethlehem-based Receivable Management Services' global headquarters in Lehigh County. The state's aggressive funding package means the company is able to retain at least 800 family-sustaining jobs in the Lehigh Valley.

"Across Pennsylvania, we are making strategic investments to support established businesses and attract new operations," Governor Rendell said. "This approach is not only helping to grow our economy, it is working to protect the livelihood of Pennsylvania's working men and women. We now have more jobs than ever before, and are gaining national recognition for our competitive business environment.

"This project is part of our ongoing effort to encourage economic growth by revitalizing idled properties and bringing new life to the former Bethlehem Steel property. Today's announcement will have positive, long-lasting effects on the entire Lehigh Valley.

"Pennsylvania aggressively fought to keep these jobs in Bethlehem; jobs that could have gone to New Jersey. This is a solid victory for Pennsylvania's economic development program."

RMS is working with local developer J.G. Petrucci to construct a new office building in the Lehigh Valley Industrial Park VII. This project represents a private investment of $9 million by J.G. Petrucci and $3 million by RMS.

"We are excited that RMS will remain in Bethlehem," said company President and CEO David Huebner. "RMS is proud of our relationship with our workforce and the community. We have been located in the Lehigh Valley for the past 15 years and look forward to maintaining our headquarters here. We appreciate all the efforts of the Governor's Action Team and the Mayor's Office."

The commonwealth offered RMS a financial package that includes a $1.25 million Infrastructure Development Program grant, an $800,000 Opportunity Grant and $500,000 in Customized Job Training funds. The company can also take advantage of a local real estate tax abatement through the Local Economic Revitalization Tax Assistance program.

Under Governor Rendell, the Governor's Action Team, which worked on the RMS project, has successfully negotiated six major economic development projects in Lehigh County totaling more than $30.6 million, creating 1,968 new jobs and retaining more than 1,283 others.

In 2005, the commonwealth completed 205 projects statewide resulting in commitments for the creation of nearly 19,800 new jobs and the retention of 40,000 existing positions. The state provided more than $418 million in assistance for these projects, which leveraged more than $1.9 billion in additional investment.

The Governor's Action Team is comprised of economic-development professionals who report directly to Governor Rendell. The team serves as a single point of contact for businesses that are interested in locating or expanding in Pennsylvania.

RMS is headquartered in Bethlehem with operations in the U.S., Canada, China, Mexico, India and Europe. The company is a leading global supplier of receivable management services to a wide range of customers, including many Fortune 100 firms. RMS provides customers with a continuum of services from electronic bill presentment, receivable outsourcing, traditional collections, bankruptcy services and deductions management.

http://www.state.pa.us/papower/cwp/view.asp?A=11&Q=450677