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<p>SCRANTON &#8212; Every seat was filled at the second annual Northeastern Pennsylvania (NEPA) Real Estate Summit, held Wednesday at the Hilton Scranton &amp; Conference Center.</p><p>More than 225 business and community leaders interested in commercial and industrial real estate joined event host Penn&#8217;s Northeast, NEPA&#8217;s regional economic development agency, to learn more about the local, regional and international industrial market.</p><p>President and CEO of Penn&#8217;s Northeast John L. Augustine III noted, &#8220;Currently we are experiencing the largest industrial boom that we&#8217;ve ever experienced.&#8221;</p><p>He continued, saying, &#8220;We have over 9 million square feet of buildings under construction, we&#8217;ve announced more than 5,000 jobs since last year and have over $1 billion worth of capital invested right now in NEPA. So, certainly, from a market standpoint, we are exploding with growth.&#8221;</p><p>Augustine attributes this growth to location and an increase in manufacturing.</p><p>&#8220;Being close to major Interstates 80 and 81, we are only a day&#8217;s drive from a third of the U.S. population and half of the Canadian population,&#8221; he said. &#8220;We are also seeing an increase in manufacturing due to our utility infrastructure with affordable natural gas reliability, electric, water and power systems.&#8221;</p><p>An impressive variety of people attended the Real Estate Summit.</p><p>&#8220;We have community members, Realtors, developers, builders, Chamber of Commerce members, construction companies, basically anyone that could potentially play a role in the new development that&#8217;s here and find out how they need to position themselves to take advantage of this growth,&#8221; Augustine said.</p><p>&#8220;I think that it&#8217;s a good time to be doing business in NEPA. All the presentations today showed that our region is growing,&#8221; he added.</p><p>NEPA Real Estate Summit speaker Brian Knowles, principal of Lee &amp; Associates of Eastern Pennsylvania LLC, said: &#8220;NEPA is a great story. When you look at NEPA and consider where investors and developers can invest their money, this is one of the places they are comfortable with investing.&#8221;</p><style>
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<div class="neCaption">Members and guests listen to panelists discussing the industrial growth happening in NEPA at the second annual Northeastern Pennsylvania Real Estate Summit in Scranton on Wednesday. </div></div><div class="metaInfo"><photo0>https://www.timesleader.com/wp-content/uploads/2019/04/web1_NEPA_SUMMIT-042419-1_cmyk.jpg</photo0><caption0>Members and guests listen to panelists discussing the industrial growth happening in NEPA at the second annual Northeastern Pennsylvania Real Estate Summit in Scranton on Wednesday. </caption0><photoCredit0>Courtesy Rachel Antosh Hawk </photoCredit0></div><div class="neFile"><img class="neImage" src="https://www.timesleader.com/wp-content/uploads/2019/04/web1_NEPA_SUMMIT-042419-16_cmyk.jpg">
<div class="neCaption">Vendors listen in as speakers address the industrial market at the second annual Northeastern Pennsylvania Real Estate Summit in Scranton on Wednesday.  </div></div><div class="metaInfo"><photo1>https://www.timesleader.com/wp-content/uploads/2019/04/web1_NEPA_SUMMIT-042419-16_cmyk.jpg</photo1><caption1>Vendors listen in as speakers address the industrial market at the second annual Northeastern Pennsylvania Real Estate Summit in Scranton on Wednesday.  </caption1><photoCredit1>Courtesy Rachel Antosh Hawk </photoCredit1></div><div class="neFile"><img class="neImage" src="https://www.timesleader.com/wp-content/uploads/2019/04/web1_NEPA_SUMMIT-042419-32_cmyk.jpg">
<div class="neCaption">President and CEO of Penn&#8217;s Northeast, John L. Augustine III at the second annual Northeastern Pennsylvania Real Estate Summit in Scranton on Wednesday. </div></div><div class="metaInfo"><photo2>https://www.timesleader.com/wp-content/uploads/2019/04/web1_NEPA_SUMMIT-042419-32_cmyk.jpg</photo2><caption2>President and CEO of Penn&#8217;s Northeast, John L. Augustine III at the second annual Northeastern Pennsylvania Real Estate Summit in Scranton on Wednesday. </caption2><photoCredit2>Courtesy Rachel Antosh Hawk </photoCredit2></div></div>
<div class="metaInfo"><bylineMeta><p>By Jessica Eddy</p><p>For Times Leader</p></bylineMeta></div>

Real Estate summit promises growth in NEPA