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NEW VENTURES: Risk analytics firm opens Bethlehem tech center

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Risk analytics firm MIAC Analytic opened a technology center at 202 W. Fourth St. in Bethlehem. PHOTO/SUBMITTED
Risk analytics firm MIAC Analytic opened a technology center at 202 W. Fourth St. in Bethlehem. PHOTO/SUBMITTED

MIAC Analytics, a New York-based provider of risk analytics and software solutions for the mortgage and financial service industries, has opened a technology center on the South Side of Bethlehem.

It will be known as the Bethlehem Technology Center or BTC.

Joseph Furlong, managing director of the due diligence and borrower analytics group, said the company was attracted to the space at 202 W. Fourth St. because of its longstanding relationship with nearby Lehigh University.

He said he hopes the location will make it even easier to partner with the university on projects and to hire Lehigh graduates.

Furlong said MIAC provides risk analysis to help the mortgage lending and other financing industries to understand the risk in a portfolio.

“And we develop our own applications to facilitate this service,” he said.

Because of that, the firm needs employees with backgrounds in financing and software development.

He said the company felt that Lehigh University and the Lehigh Valley as a whole are good places to find talent.

“With its many outstanding colleges and universities, and its engineering and technology heritage, the Lehigh Valley was a natural choice for the BTC,” said Robert N. Husted, principal at MIAC.

Ultimately the company plans to hire between 20 and 30 professionals over the next year or two to fully staff the office.

Auto techs open shop

in Upper Nazareth

Upper Nazareth Township has a new auto repair shop.

Dave Fiore and Ray Ferioli, both auto repair techs, recently purchased and renovated the former Huston’s Automotive Shop at 20 E. Lawn Road and have reopened it as WrenchTec.

“The Nazareth area is booming thanks to growth in the commercial, industrial and housing markets, and WrenchTec plans to utilize that growth to its advantage,” Fiore said.

Fiore said the two men probably looked at between 30 and 40 shops before they decided on Huston’s.

“We started to look four years ago and really went out and canvassed neighborhoods. We sat and watched the traffic flow, how shops were operating,” he said.

They ultimately liked Huston’s best, because the owner was looking to retire, but still had a small but loyal following, and a good reputation.

The shop has four lifts and can perform inspections, diagnostics, maintenance and repairs. It is open from 7:30 a.m. to 7 p.m. Monday through Friday and 7:30 to 5 p.m. on Saturdays.

The partners purchased the business for $670,000 with a Small Business Administration loan arranged through Lehigh Financial Group LLC of Allentown.

Financial advisors form

Rockland Financial Group

A group of eight financial advisors has officially formed the The Rockland Group - Wealth Management LLC and will be moving into 81 Highland Ave., Suite 200 in Bethlehem Dec. 1.

 In addition to the firm’s eight financial advisers, there are six staff members. 

Seven financial advisers and four staff are moving into the new location. One of the financial advisers will keep an office in Easton.

Kate King, operations manager for the firm, said many of the advisers had worked together before in a name-only arrangement.

By forming an LLC she said it will better help them provide clients with help in different areas.

 The new firm has three areas of practice: It offers holistic planning for individuals. It serves business owners and their firms. And it has advisers specializing in planning for public-sector employees. 

Editor’s note: We want to hear about your new business or product. Contact Stacy Wescoe at 610-807-9619 ext. 4104 or send an email to SWescoe@lvb.com. To be considered, a new venture should be fewer than 60 days old or starting within 60 days.

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Write to the Editorial Department at editorial@lvb.com

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