SHARE Email Facebook Twitter Governor Wolf Tours All Sports America, Touts Collaboration in Reshoring and New Jobs Creation Economy, Jobs That Pay, Press Release Northumberland, PA – Governor Tom Wolf today visited All Sports America, a manufacturer of athletic uniforms, to highlight the administration’s support for the project and manufacturer’s efforts to reshore jobs from overseas to Pennsylvania.“In an era in which so many companies choose to move their operations overseas, success stories like All Sports America show that the best place for a company to grow and thrive is often right here in Pennsylvania,” Governor Wolf said. “I applaud All Sports America for their success so far, and I’m looking forward to seeing them continue to grow in the years to come.”In April of last year, the Governor announced that All Sports America would expand and create 42 new jobs over the next three years, reshoring the manufacturing of products currently being produced overseas. Since the announcement, All Sports America has hired five additional employees, and expects to hire 15 more by the end of 2018.“All Sports America is honored to be working with Governor Wolf and his Action Team in bringing jobs back to Pennsylvania,” said Richard Rock, President & CEO, All Sports America. “With the help of the Governor, we are expanding our operations and expect to hire 42 new full-time employees over the next 3 years.”Last year, All Sports America received a funding proposal from the Department of Community and Economic Development that includes a $40,000 Pennsylvania First Program grant and $42,000 in Job Creation Tax Credits to be distributed upon the creation of the new jobs. The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the Governor and work with businesses considering locating or expanding in Pennsylvania. January 09, 2018
Despite what BoL termed this year’s “erratic” markets, however, 11 of the 21 funds – all the conservative ones, two low-risk and three medium-risk structures – managed to produce positive returns.Audrius Šilgalis, chief specialist of BoL’s financial services and market analysis division, noted on the Bank’s website: “Good pension fund performance for the second quarter, even after the Brexit referendum, which shocked financial markets, offset the influence of negative trends that prevailed at the beginning of the year.”Second-pillar assets grew by 9.9% to €2,246m and membership by 4.2% to 1.19m.The asset growth was boosted by this year’s increase in the additional members’ and state budget contribution rates from 1% to 2%.These accounted, respectively, for 22.6% and 24.6% of the €128.3m asset increase since the end of 2015.Returns for the substantially smaller third pillar showed a similar pattern to that of the second, with the average plunging from 6.06% as of the end of June 2015 to minus 1.22% by the end of the following March, then recovering to minus 0.02% three months later.The conservative funds averaged 2.3%, with all three in positive territory.While the four medium-risk funds averaged minus 0.72% and the five high-risk plans minus 0.83%, one fund in each category managed to buck the trend.The number of members increased year on year by 10.3% to 48,951, while assets grew by 23.4% to €66.1m because of higher contributions from participants. The six-month year-to-date nominal returns for the voluntary second-pillar pension system averaged minus 0.10%, according to the Bank of Lithuania (BoL), the country’s pension regulator.This marked a significant deterioration compared with the 4.7% generated 12 months earlier but was an improvement on the first quarter’s return of minus 0.18%.The best results as of the end of June were generated by the six conservative bond funds, at 0.77%, followed by the four low-risk funds with 25-30% equity investment (minus 0.01%), the seven medium-risk funds with equity limits of 50-70% (minus 0.02%), and the four high-risk funds, with up to 100% invested in equities (minus 1.32%).This is a reversal of last year’s trend when high equity levels generated the best results.