Saturday, February 28, 2015

PHEAA to add 150 jobs in Chester

Student lending just keeps growing

PHEAA to add 150 jobs in Chester

The Pennsylvania Higher Education Assistance Agency (PHEAA), a state-related organization - which finances college loans - plans to announce "a new economic development initiative that will create nearly 150 new jobs in Chester."

State Rep. Bill Adolph, R-Springfield, who happens to chair the PHEAA board (as well as the powerful state House Appropriations Committee), will join State Sen. Domenic Pileggi (R-Chester) at Buccini/Pollin group's Wharf at Riverfront offices Thursday afternoon to announce the move.

Wharf, the Michael O'Neill-redeveloped former county power plant, anchors the riverfront redevelopment zone that's also home to the Philadelphia Union soccer stadium and some properties that had been earmarked for homes when the 2008 recession hit and stalled financing.

The office complex is mostly occupied, the Buccinis told me on a recent visit to their Wilmington office, though it lost some of its early tenants in recent years as Wells Fargo bank and software-maker Oracle cut staff. 

PHEAA has survived a number of takeover attempts by big national lenders. It's a growth industry: Americans now owe more for college loans than credit card debt.

Pileggi's district can use all the jobs it can get, especially after the Sunoco-Marcus Hook refinery closing and Conoco-Phillips' attempt to sell its own works in Trainer.

Joseph N. DiStefano
About this blog

PhillyDeals posts raw drafts and updates of Joseph N. DiStefano's columns and stories about Philly-area finance, investment, commercial real estate, tech, hiring and public spending, which he's been writing since 1989, mostly for the Philadelphia Inquirer.

DiStefano studied economics, history and a little engineering at Penn, taught writing at St. Joe's, and has written the book Comcasted, more than a thousand columns, and thousands of articles, and raised six children with his wife, who is a saint.

Reach Joseph N. at or 215 854 5194.

Joseph N. DiStefano
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