Blog Archives

2019, Year in Review

2/2/2020

Lehigh Valley Economic Report
Dr. Kamran Afshar
Chamber Chief Economist The Chamber’s Finance Committee

In 2019, around 2.2 million new payroll jobs were created nationally, some half a million fewer than in 2018. Unemployment rate, however has dropped to 3.5 percent nationwide. In Lehigh Valley, payroll employment rose by 3,200 above its 2018 level. Local unemployment level is now hovering around 4.3 percent which is technically at full employment level.

Twenty-nineteen was accommodating the sellers in the Valley’s housing market as average sales prices rose by around 2.5 percent, which is still ok, since inflation is just starting to pass 2 percent. However, this performance was nothing like 2018 when average sales prices rose by 5.5 percent. Local Housing sales volume which was mostly trending flat for a couple of years, climbed slightly in 2019.

However, the national economic headline grabber for 2019 was the stock market, which rose by 5200 points or 22 percent. It should be noted that the FED which was successful in siphoning out close to a trillion dollars of high-powered money that it pushed into circulation during multiple quantitative easing programs, reversed its course and pushed back into circulation inside of 7 months, almost half of what it took it years to withdraw. Three-quarters of last year’s stock market gain also happened during the same 7 months.

In the Lehigh Valley the most surprising economic news for many of us who have been analyzing the local data was the Bureau of Economic Analysis’ revision of the growth pattern of our region. According to the BEA’s new revised data, the manufacturing sector which produced 43 percent of the local GDP in 2001, shrunk in size by 65 percent, and its output now counts only as 16 percent of the local GDP. On the other side, the information sector which includes publishing, broadcasting, internet, telecom, and data process- ing has exploded by 3-fold, increasing its share of the economy from 1.8 percent to 5.7 percent percent.

Professional & business services sector has increased its share of the economy from 6.2 percent in 2001 to 11.9 percent in 2018. The
finance-insurance-real estate sec- tor’s output in the Valley is now equal to that of the manufacturing sector standing at 16.3 percent of the local GDP, up from 11.6 percent in 2001. And of course, the one constant in this sea of variables, health- care, has almost doubled its share of our local economy from 6.4 percent in 2001 to 11.8 percent in 2018.

The sector everybody is talking about, transportation and warehousing, which has grown in employment by close to 3-fold between 2001 and 2018, has barely increased its share of the economy rising from 3.8 percent to 5.0 percent.

According to the BEA, the Valley’s economy, similar to the rest of the nation is moving in the direction of services which on average used to pay less than the manufacturing sector. However, that was the last century, with the expansion of the healthcare, information and finance sectors we will soon catch up with the 21th century’s pay scales which are slowly starting the favor services.

1 Comment

Mobile Technology Graphics: Customer Service, Integrity puts local family business on national map

2/1/2020

3 Comments

Written by: Jennifer Glose

It was 2005 and Mike Estojak of Hellertown was busy as the owner of a successful auto repair service center. That is until he was introduced to a product that would change the course of his career and life. Enter solar-powered LED signs. Estojak started out by renting the signs to wholesale car dealerships that he built relationships with while in the auto industry, and before he knew it there were 40 of the signs installed from Greater New York to Washington, D.C.
This was the birth of Estojak’s new company and passion, Mobile Technology Graphics (MTG), headquartered in Hellertown. The demand for the solar-powered signs continued to soar, inspiring Estojak to expand his offerings and design and build his first mobile LED Video Jumbotron, a 9 feet tall by 14 feet wide large-scale non-projection video board.
Today Mobile Technology Graphics has added other outdoor and indoor video walls and displays, and the company designs, builds, installs and services its products across the United States at events with more than 65,000 attendees, including for Google, NASA, U.S. Army & Marines, U.S. Presidential events (past and current), major football bowl games and the NCAA Championships.
According to Estojak, the company’s customer service is what made Mobile Technology Graphics grow from a local company to a national company.
“Customer service is it, no matter what you do,” he said. “Have integrity and customer service.”

Family Values
Through all of its success, Mobile Technology Graphics remains true to being family owned and operated, with Estojak, 58, at the helm as president, alongside his son, Zac Estojak, 25, vice president of operations. Mike Estojak’s wife and daughter also work for the company.
“When we do events, someone from the family is always there to make sure everything is top-notch,” said Mike Estojak from a telephone interview while on his way to install video displays for the Rose Bowl in Pasadena, California - an event MTG has been doing for the past eight years.
“We work with you to make sure your event is the best it can be.”

Innovative Inventory

Since designing and building the company’s first Jumbotron, MTG has added many larger-size models of the outdoor mobile video boards to the company’s inventory, up to 15 feet tall by 25 feet long, plus outdoor video panels, LED posters, and indoor high-definition modular video walls which can be custom-designed to be as large as 20 feet tall by 200-plus feet long.
“We have one of the largest in- dependently owned inventory in the country,” said Estojak, adding that his customers can either rent or buy his products.
With an in-house repair and service department, clients are assured a hands- on approach to customer service.
“We install it. We service it. We repair it. All locally,” Mike Estojak said. “Unlike other companies that sell video walls with no real experience, our leadership has over 20 combined years of experience in LEDs, allowing us to design our products to move around the country without damage, compared to off-the- shelf foreign designed products many other companies offer.”
Estojak says the company will be enhancing its event production and management offerings to service more trade shows and business meetings. The company designs, sets up and runs video, audio and lighting to bring it all together for the customer.
“When the client comes in, it’s a turn- key operation,” Estojak said.
“When we come to an event, we bring knowledge and insight. We go above and beyond and treat each event as if it is our own.”

Community Rooted
Although MTG has clients all over the United States, and satellite offices in Florida and Arizona, Mobile Technology Graphics remains connected to its roots in the Lehigh Valley.
Prominent customers in the Lehigh Valley include MusikFest (Main stage), Lehigh University (Goodman football stadium, commencement, campaign launch) and Greater Lehigh Valley Chamber of Commerce (Annual luncheon).
A Greater Lehigh Valley Chamber member for about a decade, Mobile Technology Graphics has produced the chamber’s annual luncheon for the past five years, providing video walls, as well as audio, lighting and management of the event. Estojak says that being a chamber member has been helpful to the company.“They have a lot of expertise in business matters,” said Estojak, also noting the health insurance and discounts offered to chamber members as valuable benefits.

‘Follow Your Passion’

When asked what advice he can offer to other entrepreneurs, Estojak shared what helped in his own journey.
“Follow your passion,” he said. “And realize that it’s not a 9-5 job.” Zac Estojak has gained similar values by working side
by side with his father.
“It’s rewarding how hard work pays off,” he said. “Being dedicated to getting the event done right, no matter what and giving the best product possible makes all the difference in live events.”
Mike Estojak spoke about the benefits of building and cultivating meaningful relationships with current and potential customers by way of a more traditional route of communicating.
“Pick up the phone and call people,” he said. “Don’t always rely on email and text.”

3 Comments

GREATER LEHIGH VALLEY CHAMBER BLOG

2019, Year in Review

Mobile Technology Graphics: Customer Service, Integrity puts local family business on national map

Categories

Archives