By Holly Riddle
Happy Valley is looking forward to 2024 as a year of growth and exciting evolution.
Tourism is back following the pandemic, in bigger and better ways than ever before (particularly thanks to new hotel projects and the reopening of the beloved Nittany Lion Inn, new events like IRONMAN and new attractions like the new Palmer Museum). Penn State ranks as one of the top research institutions in the country. Overall, Happy Valley is consistently gaining nationwide attention for its standard of living, entrepreneurial resources and more.
Founders and businesses throughout the region are anticipating big things for 2024. We spoke to four businesses to learn more about how they’ll be advancing Happy Valley’s reputation in the new year, as well as what they learned from challenges in 2023.
Growth, adaptability and customer service
For many of the companies we spoke with, 2023 was all about growth, adaptability and offering new products and services.
At SilcoTek, the team, including Gary Barone, president; Luke Patterson, marketing manager; and Ashley Rhodes, sales manager, said the company’s highlight for 2023 was its overall ability to adapt: “We were challenged this year with a major market segment, semiconductor chip manufacturing, entering a pullback. By adapting our focus, we have increased the diversity of our customer base through the growth of new markets. The entire team pulled together to develop new products and services, adding to our available market opportunities while continuing to invest in our people and culture.”
We’ve seen our sales numbers more than double this year…over 200%.”
“We serve the most technologically advanced companies in the world, so they are always pushing us to help them solve new and complex problems. We released two new coating services in 2023 that bring a new, higher standard of corrosion protection to our portfolio. Also, in response to the tough supply chain conditions that continue to linger post-pandemic, we introduced a formal program to expedite customer orders, which has been an overwhelming success,” the company said.
For Xact Metal, prior product releases set the company up for 2023 successes and substantial growth.
“It’s been an exciting year for us,” described Juan Mario Gomez, founder of Xact Metal. “We launched a new product in 2022… This year, we’ve seen continuous acceptance of that product as we continue to commercialize it. We’ve seen our sales numbers more than double this year…over 200%.” Gomez clarified that this growth has been possible even in the midst of a slowing economy. Xact Metal has also seen growing acceptance and recognition within the industry, developing partnerships both locally and internationally.
We serve the most technologically advanced companies in the world, so they are always pushing us to help them solve new and complex problems.
Fluid Conservation Systems, a newcomer to the Happy Valley sensor scene, mentioned relocating its headquarters to the area as a 2023 highlight, alongside increasing U.S. sales by 40% and winning two Environmental Protection Awards.
At KCF Technologies, one of Happy Valley’s most well-established sensor companies, the 2023 highlights were vast and far-reaching.
After the many challenges of the pandemic, KCF has now been growing steadily for three straight years, and we anticipate an acceleration of growth in 2024
“The highlight for KCF Technologies, as in prior years, was our ‘Manufacturing the Future’ summit in June 2023. We enjoyed record attendance, and representation in Happy Valley by the premiere North American industrial companies including Caterpillar, Toyota, Ford and many more…” said KCF co-founder and CEO Jeremy Frank. “The most important new product launched this year was KCF's new Desk software product…Desk transforms the way industrial companies address the health of their critical machines. This product has already enabled a step-change in customer engagement, furthering KCF's advantage and market-leading SmartDiagnostics machine-health platform.”
He added, “After the many challenges of the pandemic, KCF has now been growing steadily for three straight years, and we anticipate an acceleration of growth in 2024.”
Patience and resilience
Even with this year’s successes, there were challenges.
Since so much of the macro environment is out of our control, patience and resilience have helped to enable the return to strong performance in still-uncertain times.
Gomez mentioned the economy as a somewhat hindering factor. The SilcoTek team likewise noted “uncertain economic times.”
Fluid Conservation Systems is navigating how to spread awareness of its products, letting potential clients know exactly what it does and why (and what FCS does is pretty cool, and has substantial impacts on the environment, as we covered in a past article this year.)
Frank mentioned that one of the most impactful lessons he learned over the last year was simply patience, explaining, “After three years of extreme volatility and constantly changing rules, economic situations and more, 2023 has been a year to enjoy the benefits of consistent, long-term commitments to reinforce our leadership team, train our people and grow our customer relationships. Since so much of the macro environment is out of our control, patience and resilience have helped to enable the return to strong performance in still-uncertain times.”
What’s next, in 2024?
Regardless of industry, the companies we spoke with seem to have one central focus for 2024: helping their customers and clients achieve unprecedented levels of success.
Looking to the year ahead, Gomez plans to continue Xact Metal’s momentum, growing the Xact Metal team and focusing on bringing new products to the market, while also balancing quality and customer service.
SilcoTek plans to drive organic growth and release new services and coatings, including new coating technologies “that will contribute to some of the most fascinating innovations in the world, things that can positively impact lives and society at large for decades to come.”
The Fluid Conservation Systems team aims to grow more than 70% in 2024, adding additional positions to the team and expanding its physical footprint, while also sourcing more testing equipment and accessories domestically. In the coming year, as FCS’s products are made in America, potential clients will be able to utilize $15 billion in funding through the 2021 Infrastructure Act, which will help fund water clean-up in cities and communities that can’t afford it on their own.
In the coming year, as FCS’s products are made in America, potential clients will be able to utilize $15 billion in funding through the 2021 Infrastructure Act, which will help fund water clean-up in cities and communities that can’t afford it on their own.
KCF Technologies, meanwhile, is looking at the long game, all the way to 2030. Frank said, “The industrial problem KCF serves is heightened in importance because of ever-challenging global competition, new on-shoring scale-ups, ESG requirements, labor shortages and more. At the same time, the industrial markets and customers are becoming increasingly [aware] of KCF's unique role in making companies more resilient to these challenges, by enabling workers to eliminate the root cause of unplanned failures and machine degradation. These factors combine to make 2024 an inflection point, leveraging KCF toward maximum impact for at least the remainder of the decade.”
What were your 2023 business highlights and what are your business goals for 2024? Let us know at sophia@affinityconnection.com.
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