With a business that is rapidly expanding in part because of the work it is receiving from the Allentown Neighborhood Improvement Zone, StoudtPoole PLLC said it is acquiring another, smaller accounting firm.
StoudtPoole will acquire Miller & Gibbs, a 22-year-old firm that provides tax preparation and accounting services to business and personal clients.
Bob Miller and Sue Gibbs will become employees of StoudtPoole, effective Oct. 1.
"They're at the retirement age of life," said Michael J. Stoudt Jr. of StoudtPoole. "They'll continue to work for my office, but they'll scale back."
StoudtPoole is at 840 W. Hamilton St., Suite 221, in the Butz Corporate Center in Allentown. Stoudt is in the process of expanding his offices to allow for the growth associated with being in the Neighborhood Improvement Zone and the merger. The NIZ – a tax incentive program for businesses and developers – has spawned unprecedented growth in Allentown's downtown.
"Being in center city has been remarkably beneficial to our firm's growth," Stoudt said. "Without that growth, we would not have been in a position to absorb Miller & Gibbs."
Stoudt said being within the zone has given him access to clients in need of NIZ-related services, and his firm has been providing consulting, accounting and compliance services focused on the NIZ legislation and NIZ-based activity.
"We leased space in Phase II of Butz Corporate Center to be right in the middle of the action, and it has paid off," he said.
Stoudt said the combined firm will continue to lease the Miller & Gibbs rented offices in Salisbury Township for the time being, but the goal is to expand and consolidate in the Butz Corporate Center.