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Where Do Entrepreneurs Work Smart and Live Happy? By: Dennis Davin, Secretary of Community and Economic Development Like Governor Tom Wolf on Facebook: Facebook.com/GovernorWolf SHARE TWEET September 23, 2016 Economy, Education, Innovation, The Blog Pennsylvania is a place where entrepreneurs and business owners flourish and succeed — and State College’s recent ranking as one of Entrepreneur magazine’s “Top 15 Best U.S. Cities for Entrepreneurs to Live and Launch” confirms just that. Listed among other innovation hotbeds, including Boulder, Minneapolis, and Ann Arbor, State College boasts an 18 percent business growth rate, is home to Pennsylvania’s largest university, Penn State, and is supported by various programs in the region such as the Ben Franklin TechCelerator @State College.Penn State offers a healthy and robust entrepreneurial ecosystem, stemming in part from its degree offerings like Corporate Innovation and Entrepreneurship. Another support is the “Invent Penn State” initiative, launched in 2015 to help innovators succeed at each stage of the entrepreneurial path. Leveraging Penn State’s size, scope, and research strengths, Invent Penn State is a commonwealth-wide initiative to spur economic development, job creation, and student career success, with a focus on bringing intellectual properties to the marketplace. Penn State President Eric Barron has committed $30 million to this program, opening 13 entrepreneurship centers in the initiative’s first year. And this is just the beginning — I can’t wait to see its lasting economic impact across Pennsylvania.Further adding the State College’s entrepreneur ecosystem the Governor’s Action Team recently worked with Morgan Advanced Materials, a UK-based leader in engineered carbon and ceramic materials, to announce a partnership with Penn State that will establish The Carbon Science Center of Excellence (COE). This site is the first of its kind in the U.S. that will serve as a new research and development center focused on driving developments in the field of carbon research. Housed at Penn State’s Innovation Park, the Carbon Science Center of Excellence will support and cultivate the innovative efforts of both Morgan and Penn State for years to come.While State College and Penn State have found success in the center of our state, I’m proud to say this is only one example of many strong university-industry collaborations in Pennsylvania. Kern Entrepreneurial Engineering Network recently awarded Lehigh University in the Lehigh Valley a $200,000 grant to inspire and encourage an entrepreneurial spirit in undergraduate engineering students, with an end goal of benefiting society. In South Central Pennsylvania, Dickinson College runs “The Idea Fund,” a student-led incubator that provides seed money to students to help them jumpstart change in their communities. And in the Southwestern part of the state, Carnegie Mellon’s Center for Innovation & Entrepreneurship has helped greenlight more than 1,000 companies across a variety of industries.Pennsylvania’s support for entrepreneurs goes far beyond our colleges and universities. My agency, the Department of Community and Economic Development, offers an extensive and experienced network that can provide assistance at each step of the entrepreneurial journey:Our Small Business Champion Network provides free, practical advice, and services as the first stop for individuals who have new business ideas.The Partnerships for Regional Economic Performance partners are our boots on the ground; they help companies start, grow, and prosper in their local communities.For entrepreneurs looking to break into new international markets, our Office of International Business Development is an excellent resource.Tech companies will find funding and technical expertise from our Ben Franklin Technology Partners.Our Entrepreneur’s Guide is a comprehensive roadmap offering guidance on everything from business names to growth strategies.Last, but certainly not least, even entrepreneurs need some down time to relax, recharge, pursue their hobbies (or explore new ones!). Here in Pennsylvania, they can find an unparalleled mix of urban, historic, and outdoor adventures awaiting them. It truly is a wonderful place to work smart and live happy.All corners of our state offer vibrant communities and business assistance resources that are ready to bring your big idea to life. Learn how our talent can be the building blocks of your future. Check out our business assistance page for more information on the resources available to you, and follow us on Twitter (@PADCEDnews) for funding, grant announcements, and all Pennsylvania news. SHARE Email Facebook Twitter
Nigel Stapleton, chairman and trustee of the defined benefit (DB) scheme, said: “The buy-in provides greater certainty and assurance about the future costs of providing members’ pensions, and we see this as a positive and prudent way of managing the overall funding and risk of the scheme.”Andy Agg, chief financial officer at National Grid, which is a FTSE 100 company, said the deal was “an important step in our long-term strategy to reduce the level of risk within our pension arrangements”.The transaction with National Grid is the third buy-in in quick succession to have been announced by Rothesay.Last month it disclosed a £3.8bn buy-in for drinks company Pernod Richard’s UK DB scheme, which followed a £4.7bn ‘buy-in to buyout’ deal with technology company Telent.The news of National Grid’s deal takes to more than £30bn the value of buy-in and buyout announced so far this year, compared with a previous record of £24bn last year. Experts expect further deals to close this quarter, and also point to a strong pipeline of transactions for next year.The high level of activity in the de-risking market has been due to a combination of factors, including stalling life expectancy improvements and improved funding levels.At the end of September Rothesay and Prudential said they would appeal against a high court judgment blocking the transfer of £12bn of assets, covering 400,000 annuity policyholders, from Prudential to Rothesay.Charlie Finch, partner at consultancy LCP, had said the ruling could pave the way for an increase in insurers’ capacity for bulk annuities. The £20bn (€22bn) National Grid UK Pension Scheme recently completed a £2.8bn buy-in with Rothesay Life, the life insurer announced today.The buy-in policy is in respect of the benefits payable to pensioners aged 70 or less in Section A of the scheme, which has around 100,000 members, mostly from National Grid’s gas transmission and distribution businesses. It is closed to new members.The transaction was complex, according to Sammy Cooper-Smith, co-head of business development at Rothesay.“Our sophisticated risk management systems allowed us to provide economic certainty to the trustees ahead of transacting despite volatile market conditions in recent weeks,” he said.
Name: Vin ScullyTitle: Announcer, Los Angeles DodgersAge: 87Baseball’s longest-tenured broadcaster has long since ascended to legendary status. The Hall of Fame play-by-play man, currently calling his 66th Dodgers season, is an icon in Los Angeles and considered as much a draw to the franchise as some of the stars on the field he has opined about during his tenure in the booth. Scully and Jackie Robinson’s wife, Rachel, are the only two non-players to win the MLB Commissioner’s Historic Achievement Award. Top 50 Most Powerful in L.A. Sports• Introduction• Photo gallery of Top 50 Most Powerful in L.A. Sports• Dramatic change in Los Angeles sports power structure Newsroom GuidelinesNews TipsContact UsReport an Error