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Start here.
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www.lehighvalley.org

17
ANNUAL
REPORT
The mission of the Lehigh Valley Economic Development Corporation is to market the economic assets
of the Lehigh Valley and to create partnerships to lead the recruitment, growth and retention of employers.
The Lehigh Valley saw another year of historic economic growth in 2017, which speaks to the remarkable balance
between our various economic sectors, a sign of a well-balanced and multifaceted economy.

The region’s gross domestic product has surpassed the $39 billion mark for the first time in its history. That’s more
economic output from the two-county region of 665,000 people than the entire states of Vermont or Wyoming, as
well as 108 other countries in the world. And while transportation and warehousing is our fastest-growing sector,
manufacturing still makes up a significantly larger portion of our GDP, contributing $6.9 billion, or nearly 18 percent
of the total.

We’ve tracked 31 business attraction/expansion projects either announced, under construction, or completed in the Don Cunningham
Lehigh Valley in 2017, creating more than 2,200 jobs and retaining more than 1,300 more. LVEDC also provided President & CEO
access to $17.2 million in financing in 2017, resulting in another 810 jobs either created or retained.

I’d like to thank the LVEDC Board of Directors and everyone who has played a part in helping LVEDC deliver on its
mission of growing opportunity and creating jobs in the Lehigh Valley.

2017 marked my first year as Chair of the LVEDC Board, LVEDC is also embarking on several other important
and I’m pleased to say the organization has a clear initiatives, including a much-anticipated talent supply
vision for continued economic growth and opportunity initiative and study.
in the Lehigh Valley. LVEDC has been reaccredited
by the International Economic Development Council, This initiative has the goal of gaining a useable
and has experienced another record-breaking year in understanding of the Valley’s workforce – and providing
investment; in fact, our best yet. We are well poised to a framework for regularly updating that data in this rapidly
continue building on the excellent work LVEDC’s staff evolving sector – for the benefit of the Lehigh Valley’s
and partners have done over the years. employers, educators and regional partners.
Jane P. Long
In December 2017, LVEDC’s Board approved a new It’s been a real pleasure to work with so many talented Board Chair
three-year strategic plan to establish the organization’s professionals in both the public and private sectors, all
priorities and initiatives as it continues its work to advance with the same goal of growing our region. I’d like to thank
the region’s economic growth and job creation through all of LVEDC’s many stakeholders for their continued
2020. The plan is the result of a comprehensive process support, and especially our many investors for making
that included outside consultants, key stakeholder this a great year.
businesses in the Lehigh Valley, and LVEDC’s staff and
Board.

LVEDC ANNUAL REPORT • 2017 3


TOTAL
POPULATION 665,441 248,182 TOTAL
HOUSEHOLDS
2,224
Jobs Created
Source: U.S. Census Bureau 2016, American Community Survey 1-Year Estimates

by 2017 Business
Development
Unemployment Labor Median Per Capita Projects
Rate* Force Household Income Income
4.9% 344,623 $59,989 $30,270
Source: JobsEQ. *December 2017, seasonally adjusted.

Employment by Industry:
1,357
Jobs Retained
Health Care &
Social Assistance
55,830 17.4% by 2017 Business
Retail 34,380 10.7%
Development
Projects
Manufacturing 32,388 10.1%
Transportation
& Warehousing 27,832 8.7%
Accommodation
26,597 8.3%

810
& Food Service

Education 25,166 7.9%


Administrative &
23,880 7.4%
Jobs Created
Support Services
Construction 13,488 4.2%
or Retained
by 2017 LVEDC
Professional, Scientific &
Technical Services
12,572 3.9% Financing
Finance & Insurance 10,111 3.2%
Projects

Source: JobsEQ. This table does not include other industries that make up less than 3 percent of the total Source: LVEDC Research Department.
percentage of the labor force, including Wholesale Trade; Management of Companies; Public Administration; These job figures are projections, and
Arts, Entertainment, and Recreation; Information; Real Estate; Utilities; Agriculture, Forestry, Fishing, and some jobs will be created over the course
Hunting; Mining and Quarrying. of multiple years.

4 LVEDC ANNUAL REPORT • 2017


Lehigh Valley GDP Reaches Record-High $39.1 Billion
The Lehigh Valley’s gross domestic product (GDP) has once again reached an all-time high, rising to $39.1 billion. That is a more
than 4 percent increase over the previous year, which itself had been a record-high number. The regional GDP saw year-over-year
growth in each individual subsector, reflecting the remarkable balance of Lehigh Valley’s economic sectors, a sign of a well-balanced
and multifaceted economy. The region’s GDP is now larger than that of Wyoming ($38.5 billion) and Vermont ($31.5 billion), as
well as 108 other countries in the world.
* Data comes from the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA). Gross domestic product (GDP) is the measurement of a country’s economic output. It
is the total market value of all finished goods and services produced within a country’s borders in a given year. It includes all consumer, investment and government spending and
exports, minus the value of imports. The $39.1 billion figure is for 2016, the most recent year for which data is available. Data on the GDP of other countries comes from the World Bank.

The Lehigh Valley GDP ranks 65th out of the 382 largest metros in the United States, compared to ranking
73rd the previous year. If the Lehigh Valley were a country, it would be the 87th largest country in the world.

Lehigh Valley GDP by Industry Sector:

+$0.44B

Retail Trade $2.3B


$7.9B +$0.08B

+$0.21B
Information $1.9B
+$0.03B

Finance, Insurance & Real Estate $5.3B Transportation $1.9B


& Warehousing +$0.16B
Professional & Business Services
+$0.18B

Fastest-growing sector in the


+$0.24B
regional economy, with a
$6.9B 9.5 percent growth year-over-year.
$5.3B
Manufacturing Education & Health Care Arts, Accommodation & Food Service $1.6B
+$0.08B
Source: U.S. Bureau of Economic Analysis (BEA). The numbers above do not include government spending or other private
industry subsectors for which data was unavailable or not disclosed by the BEA.

LVEDC ANNUAL REPORT • 2017 5


Lehigh Valley Ranks Among Top Five in Site Selection Magazine
The Lehigh Valley was ranked one of the top five overall regions in the Northeastern United States in terms of economic
development for 2016, and the number one region of its population size in the Northeast, according to Site Selection magazine. It
was the only region in the population range between 200,000 and 1 million to make the top five. Site Selection is one of the highest-
read and most well-respected economic development publications in the country, with a readership of power brokers who make
major economic development decisions. For the magazine to recognize the region’s growth is a remarkable accomplishment.

The Lehigh Valley’s lead among 2016 Top Metros Overall (Northeast) Total Projects by Region
same-sized Northeast regions 1. New York-Newark-Jersey City 160
 7. Buffalo-Cheektowaga-Niagara Falls 18

was substantial, with nearly
2. Philadelphia-Camden-Wilmington 74
 8. Bridgeport-Stamford-Norwalk 14

double the amount of projects
as the next region in the list 3. Pittsburgh 70
 9. York-Hanover 13

(Bridgeport-Stamford-Norfolk). 4. Boston-Cambridge-Newton 45
 10T. Youngstown-Warren-Boardman 9
5. Lehigh Valley 26
 10T. Harrisburg-Carlisle 9
6. Providence-Warwick 21
 10T. Lancaster 9

* The number of projects listed is determined by Site Selection for its rankings. The magazine does not disclose which projects it has identified, nor how the magazine reached that figure.
LVEDC previously tracked 31 business attraction, expansion and retention projects for the year 2016, resulting in the creation of 4,832 new jobs and the retention of 2,205 more. Published
by Conway Data, Site Selection is the oldest publication in the corporate real estate and economic development field. It is the official publication of the Industrial Asset Management
Council, and has circulation base of about 44,000 executives involved in corporate site selection decisions.

6 LVEDC ANNUAL REPORT • 2017


American Airlines offers 6,700
flights daily to 350 destinations
in 50 countries.

The Lehigh Valley feature in


American Way reached 5.4 million
unique monthly readers and at
least 16 million passengers in all.

American Way readership is the


third-highest measured in the
nation for household income,
and in the Top 10 for professional
managerial, top-nine job titles,
and C-suite executives.

Lehigh Valley Featured in American Airlines In-Flight Magazine


American Airlines, the largest airline in the world, serves nearly 200 million passengers
a year. In July 2017, as those passengers settled into their seats and picked up their
in-flight magazines, they read all about the Lehigh Valley.
The region was the subject of a 24-page dedicated supplement in American Way, the
most read in-flight magazine in the world, highlighting the Lehigh Valley for millions of
readers on an international platform bestowed on only a select few regions each year.
The supplement feature, called Spotlight Lehigh Valley, is an economic development
series that takes a detailed look at what makes a certain region a great place to invest,
visit, or relocate, with a particular focus on global economic impact, business diversity,
Spotlight Lehigh Valley was unveiled for the first time
and innovation. during a June 28 launch party at the Lehigh Valley
International Airport.

LVEDC ANNUAL REPORT • 2017 7


LVEDC Releases New Three-Year Strategic Plan
LVEDC has completed a new 2017-2020 Strategic Plan that establishes the organization’s priorities and initiatives as it continues
its work to advance the region’s economic growth and job creation over the next three years. The new plan, which received its final
approval from the LVEDC Board of Directors in November 2017, is the result of a comprehensive process that has included outside
consultants, key stakeholder organizations in the Lehigh Valley, and the LVEDC staff and board.

The LVEDC 2017-2020 Strategic Plan


includes an updated mission, vision,
values, principles, priorities, and
four sets of initiatives in the areas of:
• Recruitment
• Marketing & Communications
• Advocacy & Leadership
• Retention, Resources, & Regional Strategies

“This strategic plan presents a clear vision for continued economic growth and opportunity in
the Lehigh Valley, and puts LVEDC in the best possible position to continue building on the
excellent work its staff and partners have done over the past three years.”
-- Jane Long, Chair of the LVEDC Board of Directors

Visit lehighvalley.org/strategic-plan to download the full LVEDC 2017-2020 Strategic Plan.

8 LVEDC ANNUAL REPORT • 2017


Lehigh Valley Ranks Second Globally in Industrial Growth Lehigh Valley Featured
on Front Page of
The Lehigh Valley market has ranked second globally for growth in prime industrial
and logistics rents, according to a study by CBRE. This is another sign that the region The New York Times
is one of the fastest growing industrial markets in the country. The Lehigh Valley The Lehigh Valley’s booming logistics
saw a 10 percent jump in prime logistics rents over the past year, according to the and e-commerce sector was the focus
study. Only Seattle had a higher jump (16.9 percent). The Lehigh Valley benefits from of a front-page article in The New
strong demand due in part to its close proximity to major population centers, such as York Times, which touted the region’s
New York City and Philadelphia, according to a study by CBRE, the world’s largest central location, strong workforce,
commercial real estate services and investment firm. and well-developed transportation
infrastructure. Headlined “Where
The 10 Fastest Growing Markets Internet Orders Mean Real Jobs,
and New Life for Communities,” the
1 Seattle 16.9%
Oct. 23, 2017 story notes that the
2 PA I-78/81 Corridor 10.0% region “provides a gateway to the
3 Leeds/Sheffield 9.5 5
3
nation’s biggest metropolitan area”
due to its proximity to highways and
1

4 Oakland 9.4% 7
2 PA I-78/81
Corridor

easy access to much of the Eastern


4
6 8

5 Manchester/Liverpool 9.3%
9 10

Seaboard. LVEDC assisted Times


6 LA/Orange County 9.2% writer Natalie Kitroeff during her
7 Atlanta 9.2% reporting for the story.
8 Suzhou 8.7%
9 Hangzhou 7.4%
10 Ningbo 7.2%
]
Source: CBRE Research, Q1 2017. (Annual percent change in prime logistics rents as of Q1 2017)

“Living here in the Lehigh Valley, it’s easy to forget that this region is one
of the fastest growing industrial markets in the country. It’s growing faster
than the inland empires in Texas and California, and is the most desirable
market in the Northeast.”
– Don Cunningham, LVEDC President & CEO

LVEDC ANNUAL REPORT • 2017 9


New or New Jobs Jobs Square
Company Municipality Product Expansion Stage Type Investment * Created* Retained* Feet
Lehigh County
1 B Braun Medical Hanover Twp Medical instrument mfg. Expansion Under Construction MFG $10,000,000 400 14,100
2 City Center 520 Hamilton Allentown Multi-tenant office building New Under Construction Office 95,000
3 City Center Tower 6 Allentown Multi-tenant office building New Under Construction Office $45,000,000 142,000
4 East Penn Manufacturing Alburtis Automobile parts mfg. New Completed MFG 650,000

5 Five City Center Allentown Multi-tenant office building New Announced Office 400,000
Innovation Campus
6 IBEW Local #375 Allentown Labor union Expansion Under Construction Office $2,130,000 32,000
7 Mack Trucks Customer Center Allentown Truck mfg. Expansion Completed Office $3,000,000 160,000
8 Nestle Purina South Whitehall Pet food mfg. Expansion Announced Distribution 45 53,000
9 Nestle Waters Upper Macungie Beverage mfg. Expansion Completed MFG $79,000,000 50 580,000
10 NFI Fogelsville General freight trucking New Completed Distribution 413,750
11 Royal Industries Allentown Plastics products mfg. New Announced MFG $3,730,000 80 85,000
12 Ryder Systems Alburtis General freight trucking New Completed Distribution 350 1,200,000
13 Uline Upper Macungie Office supplies wholesaling Expansion Completed Distribution $200,000,000 75 675 1,070,000
Northampton County
14 Alpla Bethlehem Plastics packaging mfg. New Announced MFG $15,200,000 59 160,000
15 Ecopax Food Packaging Bethlehem Paper products mfg. Expansion Completed MFG $20,000,000 30 144,000
16 Everson Tesla Lower Nazareth Motor and generator mfg. Expansion Completed MFG $1,000,000 5 76,960
17 FedEx Regional Hub Northampton General freight trucking New Under Construction Distribution $335,000,000 700 1,200,000
18 Fresh Pet Bethlehem Pet food mfg. Expansion Completed MFG 60 49,150
19 HoverTech Allentown Medical supplies New Completed MFG $4,200,000 67,200
20 Inditex/ZARA Easton Clothing distributor New Completed Distribution 628,475
21 Iron Mountain Easton Waste management New Completed MFG $30,700,000 25 182,000
22 Norac Easton Food mfg. New Completed MFG $25,000,000 80 79,160
23 Old Dominion Freight Line Bethlehem General freight trucking New Completed Distribution $2,650,000 120 48,500
24 Particle Sciences Hanover Twp Scientific research Expansion Completed MFG $10,000,000 30 18,000
25 Reeb Millwork Bethlehem Lumber and plywood products Expansion Completed MFG $38,000,000 147 267 250,000
26 Sharp Packaging Solutions Bethlehem Pharmaceutical packaging Expansion MFG $45,000,000 143,000
27 Straight Arrow Forks Twp Personal care products mfg. Expansion Completed MFG $2,300,000 30 70 200,000

28 The Gateway at Greenway Bethlehem Multi-tenant office building New Under Construction Office $24,000,000 127,832
Park Building
29 Valley Youth House Bethlehem Children and youth services Expansion Completed Office $4,100,000 200 28,364
30 Vastex Bethlehem Printing machinery mfg. Expansion Completed MFG $3,750,000 8 25 37,500
31 Victaulic Lower Nazareth Metal valve and pipe fitting mfg. Expansion Announced MFG $3,500,000 50 25 400,000

For privacy reasons, some companies declined to provide data for its development project. These job figures are projections.

10 LVEDC ANNUAL REPORT • 2017


191
946

145
512
SLATE BELT 27
22
987 946
248 33
611
20
21
248
16
145

Northampton 512
191
31
248
329 EASTON
987 18 23
17
329
19 24 22

145 29 26

Lehigh 33
476 1 22 611

11 BETHLEHEM
8 378 30
ALLENTOWN
28 14 15
3
5 6 2 25
78
100

22 222
309

9 78 7 611
145
78 10 212
13
78
222
412
412
378
309

4 12
100 476

LVEDC ANNUAL REPORT • 2017 11


Lehigh Valley Has Best Post-Recession Job Growth in Pennsylvania
For the fourth straight year, the Lehigh Valley ranked highest among major metropolitan areas in Pennsylvania in terms of post-recession
job growth, according to an analysis by LVEDC. The Lehigh Valley had 4.9 percent more jobs by the end of 2016 than it did before the
Great Recession began, which is significantly higher than the statewide average of 1.8 percent, and higher than that of seven other major
regions in the state.

The Lehigh Valley had 362,900 Percent Change in Employment in Pennsylvania Metro Areas
seasonally-adjusted nonfarm
Lehigh Valley 4.9% Lancaster 4.9% Pittsburgh 1.4%
jobs at the end of 2016, which
is 4.9 percent higher than York -0.2%
Philadelphia 3.2%
the 346,100 jobs it had in Scranton-
Harrisburg 2.1% Wilkes-Barre -1%
December 2007, when the
Great Recession began. Statewide Average 1.8% Reading 1.9% Erie -4.6%

Source: U.S. Bureau of Labor Statistics. Seasonally adjusted, non-farm jobs.

Lehigh Valley Submits Application for Amazon HQ2


LVEDC prepared an application on behalf of the Lehigh Valley to become the location of a
second headquarters (dubbed HQ2) for Amazon, the nation’s largest Internet-based retailer. It
was an extremely competitive process which drew 238 proposals from across North America.
The Lehigh Valley’s bid was ultimately not selected, though LVEDC’s application received
positive direct feedback from Amazon, strengthening the Lehigh Valley’s already strong ties with
the company. The region and organization ultimately benefitted from the application process,
which led to a detailed assessment of the region’s economic strengths, while simultaneously
attracting wide media attention for the Lehigh Valley.
Photo Credit: Amazon

12 LVEDC ANNUAL REPORT • 2017


Lehigh Valley Talent Supply Initiative The Lehigh Valley talent supply
study is focused on five specific
The regions that offer employees with the right skills and appropriate experience
are the ones that will win the battle for new jobs and business growth. The target sectors:
availability of trained workers was ranked the top factor in the Site Selectors
Guild’s 2016 annual survey report on what drives company location decisions. Life Sciences Research
& Manufacturing
Even total operating costs of a particular region or state, which has traditionally
been ranked the top factor, came in at a distance second.
High-Value Business Services

“We put a lot of effort into recruiting and retaining employers by Transportation & Warehousing
marketing the Lehigh Valley’s economic assets. To continue the
success we’ve had, it is imperative that we know our region better Manufacturing
than other regions know themselves. That begins with understanding
our challenges in the quantity and quality of our talent supply.”
Health Care
Don Cunningham, LVEDC President & CEO

To that end, LVEDC’s talent supply initiative kicked off a study in 2017, in
partnership with Workforce Board Lehigh Valley that identifies talent supply
and demand issues and create a strategy that results in a broader, ongoing
understanding of the workforce among employers, educators and others. MDB
Insight was selected to lead the study, surveying and interviewing employers,
educators, and others about their experiences and issues in talent supply and
demand.* The results of this study and subsequent strategic action plan will be
released in 2018.

The initiative stems from a 2014 study, “Bridging the Workforce Gap,” which
analyzed the region’s labor supply pipeline. That study was commissioned by
LVEDC and the Workforce Board Lehigh Valley, and led to the creation of the
LVEDC Education and Talent Supply Council, which is a major driver behind the
talent supply initiative.
*This study was partially funded by a grant the Workforce Board Lehigh Valley received from Pennsylvania
Department of Labor and Industry.

LVEDC ANNUAL REPORT • 2017 13


LVEDC 2017 Financing Projects
It’s been another successful year for LVEDC’s Finance Department, which provides much-needed capital for companies looking
to relocate, expand, or start in our region. LVEDC provided access to funding in excess of $17.2 million in support of investment
in the Lehigh Valley that will exceed $54.6 million. These projects helped lead to the creation or retention of more than 800 jobs.
LVEDC offers access to a wide variety of financing options and loan programs to address an array of business needs. Our staff of-
fers a consultative approach to advising companies, not only on the resources we administer directly, but on a myriad of financing
options available through traditional lenders and other public and non-profit resources, to maximize the benefit to our customers.
We offer several incentive financing resources through the Lehigh Valley Lending Network, which offers a single point of entry
to 16 local banks and lending institutions and more than 30 local, state and federal business financing & incentive resources to
eligible companies in our region.
LVEDC also works with various partners to administer local, state and federal economic development loan and grant programs.
These partners include the Northampton County Industrial Development Authority, Lehigh County Industrial Development Au-
thority, the Allentown Development Company, and the and the Lehigh Valley Economic Investment Corporation (formerly the
Northampton County New Jobs Corp and Lehigh’s Economic Advancement Project).

Company Amount Project Jobs Created* Jobs Retained*


ACR Development $300,000 $2,250,000 3 9
Campbell & Strasser $218,250 $485,000 3 6
Cole’s K-9 Center $268,888 $670,000 5 13
Consolidated Storage Companies $2,204,000 $5,510,000 1 99
Green Knight Economic Development Corp/ BOS $3,944,365 $14,000,000 280 -
Northampton County Development Partnership $500,000 $3,100,000 - -
Royal Industries $1,250,000 $4,100,000 80 -
Straight Arrow $2,000,000 $13,930,000 30 66
Straight Arrow $2,300,000 $5,155,000 - -
Two Rivers Brewing $378,677 $1,113,530 15 -
Valley Youth House $3,850,000 $4,350,000 - 200
TOTAL $17,214,180 $54,663,530 417 393

*For privacy reasons, some companies declined to provide data about the number of jobs created or retained by its financing projects. These job figures are projections.

14 LVEDC ANNUAL REPORT • 2017


Featured Financing Projects
Green Knight Economic Development Corporation

LVEDC’s single largest financing project from 2017 (in terms of dollar amount)
was the $3.94 million that the Green Knight Economic Development Corporation
received for the redevelopment of the former tire recycling facility in Wind Gap.
The financing was secured through Pennsylvania’s Business in Our Sites program.
LVEDC wrote the economic feasibility study that served as a central component in
the financing application, and worked with program administrators to promote the
request.

Consolidated Storage Companies

This Tatamy-based company, which sells most of its products under the brand name
Equipto, is a leading manufacturer of industrial and commercial storage products.
LVEDC worked with Seedco to help the company obtain $2.2 million in financing
through the SBA 504 program for the acquisition of the company’s building. LVEDC
also previously helped the company obtain a Pennsylvania Industrial Development
Authority (PIDA) loan to buy equipment that helped it better recycle excess paint
from its painting process, reducing the amount of related waste and disposal costs.

Straight Arrow Products

This nationally-renowned manufacturer of human and equestrian cosmetic and


beauty products formally completed a major expansion project last summer.
Straight Arrow Products, makers of The Original Mane ‘n Tail shampoo and condi-
tioner, underwent a 15,000 square-foot expansion of the 92,000-square-foot plant
in Forks Township. LVEDC helped secure PIDA financing for the project, as well
as for machinery and equipment. The company’s products have been praised by
such celebrities as Sarah Jessica Parker, Jennifer Aniston, Demi Moore, and Kim
Kardashian.

LVEDC ANNUAL REPORT • 2017 15


Manufacturing Success
Stories in the Lehigh Valley
Mack Trucks Vastex International
As 2017 began, LVEDC launched a bill-
board campaign touting the message: Mack Trucks announced in December 2017 Vastex International, Inc., a family-owned
“Hey, world, we still make stuff here!” We that it was adding another 400 workers to manufacturer of screen-printing equipment for
wanted to make clear that, despite any its Lower Macungie Township plant, which the garment industry, held a groundbreaking
preconceived notions to the contrary, had already employed about 2,000 people. in May 2017 for a new 37,500 square-foot
This will bring employment at the facility to facility in the Lehigh Valley Industrial Park
manufacturing is still going strong in the
an all-time high. This comes in addition to VII in Bethlehem, with plans for an eventual
Lehigh Valley. the completed $3 million renovation and expansion. The project is expected to create
remodeling of its customer center, and the eight new jobs and retain 23 existing jobs.
ongoing $70 million in investments to the Vastex also drew the attention of Pennsylvania
Contributing $6.9 billion to the Lower Macungie plant to further improve Gov. Tom Wolf in 2017, when he toured the
Lehigh Valley economy, the manufacturing quality and efficiency and facility as part of his statewide “Jobs That
manufacturing sector not only modernize the facility Pay” tour.
grew over the previous year,
but it makes up a larger portion
Alpla Inc. Royal Industries
of the total regional GDP at nearly
18 percent, compared to 15 Alpla Inc., an Austrian manufacturer of plastic Royal Industries International, Inc., a
percent a year earlier. packaging items is establishing a presence manufacturer of promotional products, is
in the Lehigh Valley. Its 160,000 square-foot relocating its headquarters from Brooklyn to
facility in Bethlehem will create 59 new jobs Allentown, purchasing an 85,000 square-foot
over the next three years. Alpla Inc. is investing facility and investing at least $3.73 million into
Manufacturing output in the Lehigh Valley
$15.2 million into the facility at Lehigh Valley the project. Royal Industries had operated
has increased by 34 percent in the last
Industrial Park VII, which will produce food, in Brooklyn since its inception, but decided
five years. household and cosmetic product containers. to move to the Lehigh Valley for efficiency
reasons.

16 LVEDC ANNUAL REPORT • 2017


Victaulic Highlighted at Fall Signature Event
Each year, the LVEDC Fall Signature Event highlights a Lehigh Valley company
that exemplifies one of the region’s four target sectors. This year, the company was
Victaulic, a Forks Township-based manufacturer of mechanical pipe joining solutions
and grooved pipe joining systems, which announced during the event that it will be
investing tens of millions of dollars to increase its manufacturing operations in the
region.
The company is expanding its Lehigh Valley manufacturing operations and adding
a second shift to its Forks Township facility, adding 45 to 50 new jobs by the end of Other Manufacturing
2018. It is also purchasing 28 acres of land in Lower Nazareth Township to build a
new 400,000 square-foot facility as a result of increased domestic demand for the Highlights
company’s products. Gov. Wolf Tours Vastex
Pennsylvania Gov. Tom Wolf
stopped in the Lehigh Valley to
“We wouldn’t have been able to have done that without the support tour the Vastex International facility
of LVEDC, and the image that the Lehigh Valley has because of that as part of his statewide “Jobs That
organization. By showcasing the region’s capabilities, we’ve been able Pay” tour.
to recruit not only in the area, but around the country.”
John F. Malloy, Victaulic Chairman, President, and CEO LVEDC Invited to Prestigious
Conference
Don Cunningham spoked at
the prestigious ACG Annual
Manufacturing Conference in New
York City, where he discussed
manufacturing in the region.

Gov. Wolf Announces


Manufacturing Initiative
Gov. Wolf chose the National
Museum of Industrial History in
Bethlehem to first announce an
initiative to support manufacturing
in Pennsylvania.

LVEDC ANNUAL REPORT • 2017 17


International Investment
The importance of international investment for the Lehigh Valley economy continues to grow. The region has long been a home to prominent
companies from around the world, such as Olympus, Bosch Rexroth, B. Braun, Hydac, and others. The Lehigh Valley’s location on the East
Coast, proximity to New York City and Philadelphia, and availability of talent and technical support from higher education institutions are
attractive assets for internationally-based companies seeking entries into the U.S. market.

Business Development International Business Chinese Government SelectUSA


Tour in China Investment Reps Officials Visit Investment Summit
In its ongoing efforts to attract LVEDC has worked closely LVEDC hosted a November Don Cunningham moderated
foreign direct investment to for years with a network 2017 visit from members of a panel discussion at the 2017
the Lehigh Valley, LVEDC of business investment China’s Ministry of Commerce SelectUSA Investment Summit,
embarked on a 10-day tour representatives across the to discuss foreign direct the highest-profile event
in China in May 2017. This globe to attract businesses investment in the Lehigh Valley dedicated to promoting foreign
marked the organization’s to the region. In May 2017, and how the organization direct investment in the U.S.
second international business LVEDC hosted a visit of those can help Chinese companies Additionally, a representative
tour in as many years.* The representatives from more than establish future operations from Fuling Plastics, China’s
tour included stops in Beijing, a dozen countries, providing in the region. The group largest manufacturer of plastic
Shanghai, and other cities an overview of the regional discussed the advantages for kitchenware, participated in a
and provinces to meet with economy and discussing overseas companies investing discussion about “Renewed
representatives from Chinese why the Lehigh Valley is a in the Lehigh Valley, foreign Economic Opportunity in the
manufacturers, pharmaceutical perfect place for international investment trends from recent United States” and discussed
firms, medical device companies seeking to establish years, and regional initiatives the company’s Lehigh Valley
manufacturers, and other firms operations in the United States. or policies available to attract facility.
to discuss opportunities in the Chinese companies
Lehigh Valley.

*Business development trip was organized by the Office of International Business Development,
LVEDC ANNUAL REPORT • 2017 which is part of the Pennsylvania Department of Community and Economic Development.
18
Existing Companies Expanding in the Lehigh Valley
While helping attracting new businesses is a big part of what LVEDC does, an equally important component of the organization’s mission is
helping existing businesses in the region continue to grow and thrive. Bringing in new companies tends to get the bigger headlines, but 70
percent of new jobs created in the Lehigh Valley each year come organically from companies already located here.
In addition to Mack Trucks and Victaulic (see pp. 16-17), below are a few examples of companies within the Lehigh Valley expanding or
doubling down on their investment in the region:

Air Products Nestlé Waters


The Fortune 500 industrial gas company is planning a new corporate The summer of 2017, Nestlé Waters completed a two-year, $79
headquarters, and while the final location has not been determined, million expansion of its 580,000 square-foot bottling facility in Upper
it is committed to remaining here in the Lehigh Valley. Air Products Saucon Township, which included three new high-speed bottling
has narrowed the list of potential sites to a property in Upper Saucon lines and the addition of about 50 employees. Nestlé Waters employs
Township, its existing campus in Upper Macungie Township, and about 500 people at its two Lehigh Valley bottling facilities, which
another site near Trexlertown. A final decision is expected in the first have a combined payroll of more than $36 million, according to the
half of 2018. company.

Avantor Sharp Packaging Solutions Uline


Avantor, the global leader in integrated, The global market-leading packaging Uline, a leading distributor of shipping,
tailored solutions for the life sciences and company continued its growth in the industrial and packaging materials, will
advanced technology industries, is moving Lehigh Valley, announcing in April 2017 be purchasing two warehouses in Upper
from its previous Center Valley location that it acquired a 160,000 square-foot Macungie Township that it currently leases.
into a new office in Tower 6 in downtown pharmaceutical packaging facility in Totaling about 1.7 million square feet, the
Allentown. The company looks forward to Bethlehem from Daiichi Sankyo for $14 warehouses, as well as a 44-acre site on
establishing a “dynamic, contemporary million. That comes in addition to the the property that Uline is also purchasing,
workspace in the heart of this growing company increasing it capacity by 30 speaks to the company’s commitment to
commercial and cultural area,” according percent as the result of a $45 million the Lehigh Valley, where it has operated
to Avantor CEO Michael Stubblefield. expansion project at its Upper Macungie for 14 years.
Township facility the previous year.

LVEDC ANNUAL REPORT • 2017 19


20 LVEDC ANNUAL REPORT • 2017
Lehigh Valley Commercial Real Estate
Each quarter, LVEDC prepares and distributes a Lehigh Valley Commercial Real Estate Report, which provides information about the region’s
office, industrial, and flex markets. For Q4 2017, the report has been included with the LVEDC 2017 Annual Report, providing a year-end out-
look of the real estate climate in the Lehigh Valley.

SNAPSHOT: INDUSTRIAL MARKET

MARKET SUMMARY
Total industrial building inventory grew by 1.7 percent in 2017. The nine
projects under construction represent 5.5 million additional square feet.

116.4 Million 2.7 Million $2.8 Million 5.5 Million


Total Inventory (SF) 2017 Net Absorption (SF) 2017 Deliveries (SF) Total Under Construction (SF)

1.7% 4.7% $5.68 13.1%


Inventory Net Growth Vacancy Rate Average Asking Rent YOY Rent Growth

Source: CoStar, LVEDC Research

Industrial Buildings
by Use Type 50%

Manufacturing
50% The Lehigh Valley Year Added Space
has added nearly
20 million square
2017 3.8 million
Warehouse
27% feet of industrial and 2016 7.3 million
27%
flex building space
Distribution in the last five years.
2015 4.2 million
19% 19% 2014 4.0 million
Flex 2013 0.5 million
4%
4%
Source: LVEDC Research Source: CoStar

LVEDC ANNUAL REPORT • 2017 21


Total Inventory Building Average Rent
(SF) Occupancy (NNN) per SF
Market Spotlight on Small-Footprint
2013 13.1 million 94.7% $4.60
Industrial Buildings
(40,000 to 80,000 square feet) 2014 13.1 million 95.2% $4.68

2015 13.1 million 96.4% $4.90


MARKET SUMMARY
Small-footprint buildings suitable for manufacturers are a 2016 13.1 million 95.2% $5.50
significant need. Few have been built in recent years. With 2017 13.3 million 96.0% $5.48
available buildings almost fully occupied, average rent has
increased by 23 percent in the last five years. Source: CoStar

WIND GAP

Small-Footprint Industrial Building Pipeline

2017 Deliveries (3)


4300 Braden Boulevard, Forks Township 946
191

2535 Brodhead Road, Bethlehem Township


512
4482 Innovation Way, Hanover Township SLATE BELT
(Northampton) 248
987 946
33
611
Under Construction (1)
5000 Township Line Road, Hanover Township
248
(Northampton)

Proposed (1)
1403 Jacobsburg Road, Bushkill Township Northampton 512
191
248
329 EASTON
987
Source: CoStar, Northampton County Real Estate Tax Records, LVEDC Research
22

22 LVEDC ANNUAL REPORT • 2017


SNAPSHOT: INDUSTRIAL MARKET

MARKET SUMMARY
Overall office vacancy decreased from 9.5 percent to 7.7 percent in 2017.
Class A office space vacancy dropped from 15.4 percent to 10.1 percent.

26.3 Million 625K 181K 288K


Total Inventory (SF) 2017 Net Absorption (SF) 2017 Deliveries (SF) Total Under Construction (SF)

0.7% 7.7% $15.80 6%


Inventory Net Growth Vacancy Rate Average Asking Rent YOY Rent Growth

Source: CoStar, LVEDC Research

Average Asking Rent for Lehigh Valley Class A Office Space Inventory (SF)
Class A Office Space ($/SF) 6.5M
6.4M
New York City Metro $75.08
6.1M
Washington, D.C. $60.16
D.C. Suburbs $33.39 5.8M
Charlotte, NC $32.02
5.6M
Philadelphia $31.72
2013 2014 2015 2016 2017
Long Island, NY $30.71
Northern New Jersey $30.40 Total Square Feet

Raleigh-Durham, NC $30.17
Philly Suburbs $29.62 Can we add a text call out about the above data
Lehigh Valley $18.60 here?

Source: Colliers International Source: CoStar

LVEDC ANNUAL REPORT • 2017 23


Lehigh Valley Comparative Data

Compared with other Cost of Living


metropolitan areas in the 9% < Baltimore
Northeast, the cost to live 10% < Philadelphia & New Haven, CT
in the Lehigh Valley is 14% < Providence, RI
significantly lower. 14% < Northern New Jersey
25% < Bethesda, MD
LEHIGH VALLEY
27% < Boston & Arlington, VA
32% < Washington, DC
42% < Brooklyn
Source: Council for Community and Economic Research

Lehigh Valley Labor & Talent Supply Data


Average Wages for 10 Common Occupations Degrees Awarded by Lehigh Valley Colleges,
in the Lehigh Valley Universities & Technical Schools
2-Year & 4-Year /
Software Application Developers $97,780
Program Certificate Postgraduate
Computer Systems Analysts $88,000
Business Administration & Management 136 671
Accountants and Auditors $75,020
Nursing 292 248
Registered Nurses $67,190
Finance & Accounting 1 468
Chemical Technicians $54,090
Psychology 28 321
Industrial Machinery Mechanics $48,580
Machinists $42,100 Medical & Clinical Assistant 299 0
Computer-Controlled Machine Operators $37,680 Criminal Justice / Public Safety 200 85
Customer Service Representatives $34,430 Biological Sciences 51 200
Freight, Stock and Material Movers $30,080 Mechanical Engineering 0 224
Source: Bureau of Labor Statistics Source: Jobs EQ (Data for 2015-16 academic year)

24 LVEDC ANNUAL REPORT • 2017


Business Outreach Program Redevelopment
The Lehigh Valley Land Recycling
Initiative (LVLRI), LVEDC’s
redevelopment program, is focused
on promoting economic development
through the reuse of abandoned
and underutilized commercial and
industrial properties, also known as
brownfields. Fostering economic
development while protecting human
health and the environment is an
important element of LVEDC’s efforts
LVEDC’s Business Outreach Program (BOP) uses a customer-oriented approach
to support sustainable development.
to economic development designed to link Lehigh Valley businesses to resources
throughout the community that will help their business become more profitable. The LVLRI is an advisory committee
program combines the resources of LVEDC, government agencies, our public-sector comprised of municipal officials from
partners, and private corporations. cities, boroughs, and townships
in both Lehigh and Northampton
The goal of the program is two-fold: providing a single point-of-contact for all of your
counties, as well as brownfield experts,
business needs, and helping to identify resources to assist you in succeeding in today’s
regulatory agency representatives,
competitive environment. Businesses have often received assistance in workforce
private developers, engineers, and
training and recruitment, exporting, strategic and business planning, financing, and
consultants.
more.

“Tyber Medical relocated to the Lehigh Valley three years ago with a
goal of transforming a four-person startup company into a 25-person
vibrant business. This achievement was possible through the dedication,
direction, and hard work of the LVEDC team in providing guidance on
local growth programs such as funding and workforce recruiting. We look
Redevelopment projects in the
forward to the next three years and the future growth of Tyber Medical with
Lehigh Valley drew national attention
our strategic alignment with the LVEDC and the state of Pennsylvania.”
in 2017. Bethlehem’s SteelStacks
Jeff Tyber Arts and Cultural Campus won the
President, CEO & Founder, Tyber Medical prestigious Rudy Bruner Award for
Urban Excellence, and the Allentown
Neighborhood Revitalization District
won the Urban Land Institute’s
Visit lehighvalley.org/BOP for more information and testimonials from some of 2017-18 Global Award of Excellence.
the businesses we support.

LVEDC ANNUAL REPORT • 2017 25


External Coverage of the Lehigh Valley Economy
In addition to American Way (see p. 7) and The New York Times (see
page 9), the Lehigh Valley economy drew media coverage from a
wide range of publications outside of the regional market. Below are
just a few examples:

“Bethlehem Makes Best Places “Lehigh Valley Top 5 in U.S.


LVstartup to Retire in 2017 List” for Fastest-Growing Home
Ownership Rates”
This past summer marked the two-year anniversary
of LVstartup, a monthly e-newsletter about the
Lehigh Valley entrepreneurial and startup
community. Written and distributed by the
Entrepreneurship Council of the Lehigh Valley, “Bethlehem Among Cities That
“The Region That Built 20th
LVstartup provides information about local events, Century America” Give Worst Case of FOMO”
news stories, and resources available to help
entrepreneurs grow and thrive in the region.

Released every first Thursday of the month,


LVstartup is one of several ways LVEDC helps
provide startups with important skills and valuable
“Places for New College “Lehigh Valley Sees Growth
expertise, as well as helping entrepreneurs refine
Graduates” in Tech Companies”
their business goals, identify their markets, hone
their business plans, and locate start-up capital.

Visit lehighvalley.org/lvstartup to subscribe.

“Allentown Among 2017


‘Overlooked Dream Cities’”

26 LVEDC ANNUAL REPORT • 2017


New LV Economic Development LVEDC Events
Magazine In addition to the LVEDC Fall Signature
Event (page 15), LVEDC hosted several
The third issue of the popular Lehigh Valley Economic
events in 2017, including:
Development magazine was released in January 2017,
serving as a showcase for the regional economy. The
issue to be released since 2014, this new edition focused
specifically on the superior talent pool the Lehigh
Valley offers to incoming and existing companies. The
44-page magazine is part of a collaboration between
LVEDC and Journal Communications, and has served
as an important marketing tool to attract businesses
and site selectors to the Lehigh Valley.
“The Future of Logistics”
An expert panel met at the NFI Industries
facility in Upper Macungie Township to
discuss changes in the supply chain and
New LVEDC Videos Released logistics industry.

Meet the Buyers Expo


More than 200 small business
representatives from around the
region connected with 50 procurement
professionals at the bi-annual expo.

“We Just Need a Little Space”


A panel of regional experts gathered
to discuss the shortage of the smaller-
LVEDC has a long history of producing high-quality videos to help market the
footprint manufacturing and flex space in
Lehigh Valley’s economic assets to the largest audience possible. These efforts the Lehigh Valley.
have received international attention, earning LVEDC an Excellence in Economic
Development Award from the International Economic Development Council in County Executive Candidate Forum
2016. LVEDC continued these efforts, producing three new videos highlighting LVEDC hosted a forum on economic
major projects in the Lehigh Valley, including Tyber Medical, Michelman Steel, development at Coca-Cola Park with all four
and the Guardian Life Insurance Company of America. Visit the LVEDC YouTube candidates for Lehigh and Northampton
channel to watch these videos at youtube.com/lvedc. executive.

LVEDC ANNUAL REPORT • 2017 27


2017 LVEDC Board of Directors LVEDC Staff
Chair Dr. Mark Erickson Eric Luftig Don Cunningham
Jane P. Long President Vice President, Marketing, President & CEO
Chair, Corporate, Business and Northampton Community College Corporate Communications,
Banking Group Training & Construction Piping John Kingsley
Fitzpatrick Lentz & Bubba, P.C. Joel Fagerstrom Victaulic Vice President
Executive Vice President / Finance
Vice Chair Chief Operating Officer Hon. Tom Muller
Dan McCarthy St. Luke’s University Health Network County Executive Matthew Tuerk
Secretary Lehigh County Vice President
Lehigh Valley Partnership Cindy Feinberg Economic Development & Marketing
Partner John L. Nespoli
Secretary Feinberg Real Estate Advisors President & CEO Jaime Whalen
Ed Dougherty Sacred Heart HealthCare System Vice President
Chief Business Development Officer Lauren Goff Administration & Investor Relations
Lehigh Valley Health Network Executive Director, Hon. Brad Osborne
Corporate Social Responsibility Commissioner
Lori Betters
Treasurer Olympus Corporation of the Americas Lehigh County Board of Commissioners
Director, Budget & Administration
Patricia Johnson
Vice President, Finance and Administration Dr. Bryon Grigsby Hon. Sal Panto, Jr.
Lehigh University President Mayor Melody Bradford
Moravian College City of Easton Director, Business Outreach Programs
Don Cunningham
President & CEO Kassie Hilgert Philip Schenkel Karianne Gelinas
Lehigh Valley Economic Development President & CEO Vice President Director, Talent Supply
Corporation ArtsQuest JLL
Michael Keller
Andrew Hines Stu Shaw Director, Marketing
Director of Facilities Vice President, Chief Actuary,
Anne Baum Lutron Electronics Co. Inc. Group & Worksite Markets Andrew Kleiner
Lehigh Valley Executive and VP, Guardian Life Insurance Company Director, Redevelopment & External Affairs
Distribution Channels & Labor Relations Silvia Hoffman of America
Capital BlueCross President George Lewis
MKSD architects Michael Stershic Director, Research & Analysis
Donald Bernhard President
Secretary T. Anthony Iannelli Discover Lehigh Valley Colin McEvoy
Allentown Economic Development President & CEO Director, Communications
Corporation Greater Lehigh Valley Chamber R. Scott Unger
of Commerce Chair / Lehigh Valley Land Doug Warfel
Hon. John A. Brown Recycling Initiative Director, Regional Lending
County Executive Mark Jobes Allentown Economic Development
Northampton County Senior Vice President, Commercial Loans Corporation Jennifer Weighknecht
Lafayette Ambassador Bank Director, Credit Risk
Luke Cunningham Hon. Seth Vaughn
Chair Stephen Kalamar Vice President Jarrett Witt
Bethlehem Economic Development Senior Vice President Northampton County Council Director, Business Development
Corporation Univest Bank and Trust
Barry Wentzel Diane Milia
Hon. Robert Donchez Gary Kinsey Director, East Region Administrative Assistant
Mayor Manager, Real Estate and Property UGI Utilities, Inc.
City of Bethlehem Management, IG Americas Energy Kat Schneider
and Real Estate Procurement Office Administrator
Gregory Dudkin Air Products, Inc.
President Stephanie Wean
PPL Electric Utilities Finance Administrator

28 LVEDC ANNUAL REPORT • 2017


.4%
Other
2017 Income & Expenses* Grants
Income LVEDC Reaccredited
Operating Public Sector LVEDC has once again been
Economic
2017 Unaudited Revenue Contributions 8.5%
recognized as an accredited
Development 19%
5.6% economic development organization
by the International Economic
Hotel Tax Proceeds
38% $1,477,243 Finance &
Administrative Development Council. This marks the
11.2%
Private Sector Contributions $560,551
Fees
third consecutive time LVEDC has
received this accreditation.
Finance & Administrative Fees $306,842
53.8%
Public Sector Contributions $155,000 The organization was first accredited
29% Marketing on Sept. 28, 2010, and reaccreditation
Grants $233,357
Private Sector
20.4% occurs every three years. LVEDC is
Other Income $11,012 Contributions one of only 58 economic development
14%
$2,744,005
Hotel Tax
Proceeds organizations accredited by IEDC.
Financing
.4%
Other
Income
Grants

Operating Public Sector


8.5%
Contributions
Economic 19%
2017 Unaudited Expenses Development “LVEDC
5.6% is committed to
operating at the highest
38%
Finance &
Administrative
level, and this accreditation
Fees 11.2%
recognizes our standards and
Operating $511,424
our professionalism,” said
Marketing $783,314
LVEDC President and CEO
Financing $394,674 Don Cunningham. “While 53.8%
Economic Development $1,054,820 29% Marketing accreditation doesn’t get the
job20.4%
done, it showcases to our
$2,744,232 Private Sector
Contributionsstakeholders and peers our
14%
commitment to excellence.” Proceeds
Hotel Tax

Financing

*These figures do not include pass-through grant funds managed by LVEDC

LVEDC ANNUAL REPORT • 2017 29


2017 Investors
The investment of these companies and organizations in 2017 helped make it possible for LVEDC to market the economic assets of the Lehigh
Valley throughout the United States and the world. LVEDC had a record-breaking year of investment, totaling more than $660,000. Thank you
for your commitment to regional economic growth.

Lehigh Northampton
County County

GREEN KNIGHT
ECONOMIC DEVELOPMENT CORPORATION

A&H Sportswear Embassy Bank for the JLL Peoples Security Bank
Lehigh Valley
Adams Outdoor Advertising JM Uliana & Associates Provident Bank
Feinberg Real Estate Advisors
Alvin H Butz Lafayette College QNB Bank
First Commonwealth Federal
Borton Lawson Credit Union Lee & Associates of Eastern PA Quandel Construction Group
Computer Aid Follett Corporation MKSD architects Sacred Heart Healthcare System
Crayola Griffin Industrial Realty Moravian College Santander Bank
CrossAmerica Partners Hillwood Investment Properties Norris McLaughlin & Marcus Service Electric
DeSales University Hospital Central Services OraSure Technologies Unity Bank
Duke Realty Corporation
44 Business Capital Easton Area Industrial Land Joshi Hotel Group New Tripoli Bank
Development Corporation
515 Hamilton Group at Just Born North Star Construction Management
Morgan Stanley Easton Coach
Kelly Automotive Group Northampton Community College
Albarell Electric ESSA Bank & Trust
Kitchen Magic O’Brien’s Moving & Storage
Allied Building Corporation Express Employment Professionals
of Lehigh County Klunk & Millan Advertising Ondra-Huyett Associates
Allied Personnel Services
Express Employment Professionals Knopf Automotive Orbel
ARCO Design/Build Northeast of Northampton County Kreischer Miller Ott Consulting
ArtsQuest FastSigns of Allentown Kressler Wolff & Miller Pennoni Associates
Baker Tilly Fedetz & Martin Associates Lehigh Carbon Community College Regan Levin Bloss Brown & Savchak
Barry Isett & Associates Fishburn Realty Company Lehigh Career & Technical Institute Reimer Real Estate
Berger-Epstein Associates Frederick Group Lehigh County Authority Rettew Associates
BerkOne Gelcor Realty Lehigh Valley Industrial Park SAGE Design-Build
Bethlehem Redevelopment Authority Gilmore & Associates Lehigh Valley Rail Management Sperry Van Ness - Imperial Realty
Blue Rock Construction Good Shepherd Rehabilitation Lesavoy Butz & Seitz Spillman Farmer Architects
Bohler Engineering Network
Life Sciences Pennsylvania Stevens & Lee Allentown
Broughal & Devito Graybar Electric
Lightweight Manufacturing Superior Quartz Products
Buckno Lisicky & Company Gross McGinley
Manufacturers Resource Center Synergy Environmental
CBRE Haines & Kibblehouse
Markward Group Talen Energy
Cedar Crest College Handlon Business Resources
Maser Consulting Terraform Engineering
CF Martin & Company Hanover Township - Lehigh County
Merchants Bank of Bangor The Pidcock Company
Communication Systems HDR Engineering
Mericle Commercial Real Estate TWG
Compass Point Highland Associates Services
Ultra-Poly Corporation
Corporate Environments HMK Insurance Michael Baker International
Veraxia Commercial Real Estate
D’Huy Engineering Horwith Trucks/ Horwith Leasing Modernfold of Reading Solutions
Diefenderfer Electrical Contractors Hotel Bethlehem Moonstone Environmental Wacker Polymers - Americas
Dutch Springs IMC Construction Nacci Printing Wind Gap Electric
EarthRes Group Ironton Telephone Company NAI Summit

LVEDC ANNUAL REPORT • 2017 31


LVEDC Annual Report designed by Michelle Chrin. Photography by Marco Calderon or Digital Feast.
©2018 Lehigh Valley Economic Development Corporation. All Rights Reserved. 03.18
LVEDC is an accredited economic development organization according to the IEDC.
Lehigh Valley
Come here. Start here. Grow here.

Our Mission
The mission of the Lehigh Valley Economic Development Corporation is to market the economic
assets of the Lehigh Valley and to create partnerships to lead the recruitment, growth and
retention of employers.

Our Vision
Our vision is of a diverse Lehigh Valley economy that provides economic growth and opportunity
for people of all skills and education and strengthens all our cities, boroughs and townships.

Our Priorities
• Market the economic assets of the Lehigh Valley
• Recruit companies in targeted economic sectors
• Support the growth and retention of new and existing employers
• Promote and coordinate a skilled and prepared workforce
• Provide intelligence and data on the Lehigh Valley economy
• Expand public and private LVEDC investment and build partnerships for economic growth

2158 Avenue C, Suite 200 Bethlehem, PA 18017


Phone: 610-266-6775 • Fax: 610-266-7623
www.lehighvalley.org

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