2023 ANNUAL REPORT
The mission of Lehigh Valley Economic Development Corporation is to market the economic assets of the Lehigh Valley and to create partnerships to support the recruitment, growth, and retention of employers, and the creation of jobs for people of all skill and education levels.
I’m sure it’s not a surprise to anyone in the Lehigh Valley that our region is now #1.
Lastyear,2023,theLehighValleyledtheUnitedStatesinthenumber ofeconomicdevelopmentprojectsamongregionsofequivalentsize in Site Selection magazine’s prestigious Governor’s Cup rankings. (See page 4.)
We’ve been in the top ten for a decade – but the days of being second have ended.
It’s a remarkable achievement, considering we compete against the hottest markets in the high-growth regions of the South and Southwest.
The Northeastern U.S. has lagged the so-called “Sun Belt” in America’s 21st century growth and development.
But the Lehigh Valley cuts against the grain because together, as a region, we’ve built lasting partnerships and a strategic focus to create job opportunities for people of all education and skill levels.
Wages are up. Household income is increasing. The population is growing. Employers are adding jobs. Economic output exceeds $50 billion – the highest in history. More output is generated here than in two states in the U.S.
We are good at making things – a top 15 percent market. We always have been. While some communities that drove the 20th century industrial economy are in decline, the Lehigh Valley has had continued, steady growth in manufacturing jobs and productivity due to the expansion of existing companies and the addition of new ones, attracted by our location, skilled workforce, and talent.
But it’s not just about manufacturing. The Lehigh Valley economy is balanced with job opportunities across sectors – ranging from the lab to the professional office to the shop floor.
But with progress and growth comes change and challenge. Emerging trends – including changes in office work, limited availability of industrial space, public sentiment toward development, tightening labor supply, and access to affordable housing for our growing population – indicate that the region is reaching an inflection point.
Sustaining success and adapting to change will be the focus of LVEDC’s new 3-year strategic plan being developed in 2024. We’ll use Pennsylvania’s new plan – the state’s first comprehensive economic strategy in years – as a guidepost. A new commitment and a greater partnership with the state is welcomed.
We are prepared to write the next chapter of the Lehigh Valley’s renaissance through our growing public-private partnership that is leading the way in the nation.
One of the Lehigh Valley’s strongest attributes is its ability to build coalitions that tackle regional priorities.
Our partnership for economic development, led by the outstanding team of professionals at LVEDC, is an asset that achieves impressive results year after year; 2023 was no exception.
The Lehigh Valley ranked #1 among mid-sized markets nationally for projects announced or completed.
A new branding initiative is unifying regional marketing as part of a broader strategy to increase our name-recognition beyond the Lehigh Valley’s borders and promote our great quality of life.
LVEDC launched an interactive, online version of the popular Hot Careers Guide as a resource for students, teachers, and parents to explore pathways to the most in-demand Lehigh Valley jobs. Data used to create the guide is researched and verified entirely by LVEDC staff.
Under LVEDC’s leadership, a new coalition around the semiconductor industry came together to pursue federal designation as an innovation and technology hub. The Lehigh Valley was not chosen for this program, but the coalition’s work goes on, promoting expansion in this re-emerging industry, which started here with production of the first transistors by Western Electric in the 1950s.
Successes like these are possible because of support from LVEDC’s public- and private-sector partners, which grew to another record for investment and sponsorships of nearly $860,000 in 2023.
Working together, our coalition is focused on creating a brighter, more prosperous economic future for the Lehigh Valley.
Lehigh Valley ranked #1 in Site Selection magazine’s prestigious Governor’s Cup Awards, which recognize the bestperforming metro regions in the country.
The Lehigh Valley in 2023 logged more economic development projects than any other mid-sized region with a population of 200,000 to 1 million people.
1 Lehigh Valley, PA
2 Dayton, OH
3 Omaha, NE
T4 Greenville, SC
T4 Reno, NV
The region also ranked #4 among communities of any size in the Northeast.
Published by Conway Data, Site Selection is an authority in the corporate real estate and economic development field. The magazine has a circulation of 41,000 executives involved in corporate site selection decisions.
1 New York City
2 Boston
3 Philadelphia
4 Lehigh Valley, PA
5 Pittsburgh
“The #1 ranking is a remarkable achievement, considering the Lehigh Valley competes against the hottest markets in high-growth regions of the South and Southwest. Our economic growth, which creates opportunities for people of all education and skill levels, is the result of partnership and collaboration, with the entire region working toward common goals with a unified voice.”
Don Cunningham LVEDC President & CEOThe Lehigh Valley’s Gross Domestic Product grew to a record $50.2 billion in 2022.
Manufacturing remains a key driver of the region’s diversified economy. At $8.1 billion in output, manufacturing represents 16% of the Lehigh Valley’s economy compared to 12% of the U.S. economy.
The Lehigh Valley boasts a 21st century economy, which has created a more prosperous region.
Median household income topped $78,000 in 2022 – it’s increased by $15,000 in the last five years – and poverty levels fell to 10.7%.
201720182019202020212022
Source: Bureau of Economic Analysis
The Lehigh Valley’s private sector output is the 68th largest in the nation and is bigger than two states:
Data comes from the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA). GDP measures the total market value of all finished goods and services produced within a country or region over a year.
The $50.2 billion GDP is for 2022, the most recent year for which GDP is available. GDP figures reported by LVEDC include only private sector output, excluding government spending. Output in certain sectors was suppressed by the BEA for privacy reasons. The metro region is defined as Lehigh, Northampton, Carbon, and Warren (N.J.) counties.
The median household income and poverty levels are from the five-year estimates of the American Community Survey. Estimates are weighted averages from Lehigh and Northampton counties.
Wholesale Trade Transportation
As Pennsylvania competes for a larger slice of the 21st century economy, the Lehigh Valley was held up as a model for the Keystone State and beyond, most prominently by Gov. Josh Shapiro.
Two months after being sworn into office, Shapiro chose LVEDC’s Annual Meeting in March 2023 to deliver his first major economic policy address. He said he admired the Lehigh Valley’s ability to get things done and how its businesses, governments, and organizations, such as LVEDC, work together to achieve universal goals..
“From our Main Streets to our farms, we will have a Lehigh Valley sense of values, that sort of common sense, competitive approach that figures out how to come together to get things done.”
Pennsylvania Gov. Josh Shapiro
March 21, 2023
Two LVEDC executives were selected for key state advisory positions. The Shapiro administration appointed President & CEO Don Cunningham to the PA Workforce Development Board. Karianne Gelinas, Vice President of Regional Partnerships & Talent Strategies, was named to the Career Education and Work Academic Standards revision committee, which is modernizing state standards supporting students in career exploration and preparation for the workforce and learning after high school.
• Seeking to develop a national economic development strategy, U.S. Rep. Ro Khanna of California’s Silicon Valley visited the Lehigh Valley in June and sought input from local business, labor, education, and government leaders during a roundtable meeting at LVEDC.
• LVEDC President & CEO Don Cunningham was invited to speak with German legislators visiting the U.S. in June through the Aspen Institute about how the Lehigh Valley has built a diverse advanced manufacturing economy.
Gov. Josh Shapiro’s administration toured the Lehigh Valley several times throughout the year to learn more about the region’s economic development initiatives:
• Shapiro toured Soltech Solutions and Almas Foods International at the Pi: Partnership for Innovation in Bethlehem to learn about the journeys, successes, and challenges for those innovative entrepreneurial companies.
• Shapiro and Labor & Industry Secretary Nancy Walker visited the Eastern Atlantic States Carpenters Technical College in Allentown to highlight the state’s commitment to developing workers for the building and construction trades.
• Shapiro and Community & Economic Development Secretary Rick Siger met at LVEDC’s offices with the Lehigh Valley Partnership, a consortium of the region’s largest companies, governments, colleges and universities, and other vital stakeholders.
First Produced here:
Transistors
Originated here:
iPhone components, voice switches and T1 Transport, which managed nearly every phone call in the nation
Developed here:
USB products
Designed here:
FireWire for Apple computers, Bluetooth, Read Channel
Engineered here:
Intel cellular network processors, which manage mobile calls, texts, and more
The Lehigh Valley has been on the forefront of technology dating back to 1951, when the first transistors were produced at Western Electric’s Allentown Works. As the tech economy matured, the industry’s big players remained here and attracted more talent and ideas. From the first iPhone components to Bluetooth, the Lehigh Valley has played a leading role in modern technological breakthroughs.
In 2023, LVEDC led a re-emergence of that ecosystem through a coalition that applied to become a Technology and Innovation Hub, part of the federal CHIPS and Science Act. While the application was not successful, the process led to the creation of a technology consortium that will position the Lehigh Valley to continue shaping U.S. semiconductor manufacturing, an important national security initiative.
Watch: Excerpts from “The Transistor,” a 1953 film by Bell System
Source: Jill Bennett, Vice President of Intel’s Network & Edge Group;
• Efficient Electrification
• Optical Laser Manufacturing
• Optoelectronics
• Photonics Design
• Semiconductor Design
• Silicon Wafer Production
• Wafer Fabrication
• Specialized Chemicals
The Lehigh Valley is home to more than 30 technology related companies that collectively employ about 1,500 people. Together, they are creating solutions that allow data and electricity to be transmitted faster, with less heat, in smaller hardware. Their technology is relied upon by brands such as Google, Microsoft, Meta, AWS, AT&T, Verizon, Netflix, and Nokia.
Here are some examples of semiconductor production and design work that’s occurring in the Lehigh Valley.
Broadcom operates a wafer fabrication facility in Upper Macungie Township where 250 employees develop and manufacture indium phosphide semiconductor lasers and detectors for fiber-optic networks and data centers. Those technologies are key to recent developments in artificial intelligence and machine learning.
Intel employs more than 300 people in Hanover Township, Lehigh County, where engineers design semiconductor devices that are fabricated at other Intel facilities and packaged abroad. The chips are used in cell towers and networks worldwide.
iDEAL Semiconductor, located at Ben Franklin TechVentures in Bethlehem, has developed “SuperQ™,” a technology at the atomic scale that dramatically improves energy efficiency. Applicable to all types of semiconductors, it works by opening more room for conduction, which reduces resistance and energy loss.
Coherent is a global leader in silicon carbide materials and devices that are critical to the rapidly growing power electronics market used in electric vehicles, renewable energy systems, and grid infrastructure. At its 300-person facility in Forks Township, Coherent manufactures silicon carbide substrates and epitaxial substrates for semiconductors.
Infinera designs, manufactures, packages, assembles, and tests optoelectronic packages and modules built around its unique optical, compound semiconductor photonic integrated circuits.
Infinera’s advanced testing and packaging facility in Upper Macungie Township employs about 300 people who test chips for quality, and then assemble them into modules to be inserted into optical transport equipment used for networking, cloud connectivity, and data center interconnect services.
LVEDC’s annual Fall Signature Event highlighted the Lehigh Valley’s technology sector, which has a sterling reputation within industry circles and is positioned once again to be a national stalwart of innovation. More than 200 people attended the Nov. 8 event, which was sponsored by Intel®, at Iacocca Hall at Lehigh University.
The program featured a panel discussion of industry leaders and remarks by Jen Gilburg, Deputy Secretary of Technology and Entrepreneurship at the Pennsylvania Department of Community & Economic Development, and Nathan Urban, Provost and Senior Vice President for Academic Affairs at Lehigh University.
The panel discussion, moderated by LVEDC President & CEO Don Cunningham, included Ed Pullin, IP Marketing Director in the Network Edge Group at Intel®; Doug Dopp, Senior Director of Manufacturing at Broadcom; Mike Burns, Co-founder and Executive Chairman of iDEAL Semiconductor and Partner in Murray Hill Group; and Wayne Barz, Chief Investment Officer at Ben Franklin Technology Partners of Northeastern Pennsylvania.
Jill Bennett Intel®
“It is amazing that so much innovation that surrounds us in our daily lives has been created here in the Lehigh Valley … The Lehigh Valley will continue to play a significant role in the technology advancement yet to come that will improve people’s lives, productivity, and well-being.”
Mike Burns
iDEAL Semiconductor and Murray Hill Group
“Lehigh Valley, because of the people, can be a place to invest in, and that’s why we’re doing so.”
Wayne Barz
Ben Franklin Technology Partners of Northeastern Pennsylvania
“As we continue to develop these conversations and hold events like this and raise visibility of what’s here, I think it’s going to help us attract additional startups.”
Ed Pullin Intel®
“You can’t pick up your phone without coming across silicon that was developed here … I get giddy over that.”
Doug Dopp Broadcom
“It’s the legacy of AT&T, Western Electric, Bell Labs. Everywhere I go, every university, company, ‘I used to work there, my dad used to work there,’ all that. That’s why we’re still here … It’s very difficult to replicate that design talent, that manufacturing talent in another location easily.”
The National Museum of Industrial History in Bethlehem showcased the Lehigh Valley’s storied past of innovation that began more than 70 years ago with the world’s first mass production of transistors.
Watch:
2023 Fall Signature Event Highlight Video
Developing, attracting, and retaining talent is essential to the Lehigh Valley’s economic success. Our workforce must have skills and qualities employers value. The Lehigh Valley Talent Strategies Initiative is the work of a coalition of employers, educators, and community organizations, led by LVEDC. The work focuses on fortifying the regional labor market and ensuring a career-ready workforce. This coalition is called the Education and Talent Supply Council.
The initiative has produced comprehensive research and data-driven solutions, resulting in national recognition of the Lehigh Valley as a leader in addressing talent issues.
To provide up-to-date, local career opportunities, LVEDC launched this interactive, engaging, mobile-friendly dashboard that highlights in-demand Lehigh Valley careers, their educational requirements, and earnings potential. The dashboard modernizes the content from the original Hot Careers Guide born five years ago as a printed document distributed to education leaders impacting more than 60,000 middle school and high school students.
This annual program shares best practices and trends for employers seeking to start or expand internship programs. In 2023, Shawn VanDerziel, President & CEO of the National Association of Colleges and Employers, delivered a keynote speech highlighting the value of internships for both the individual and employer. Additional sessions focused on mentoring and meaningful internships, spotlighting the perspectives of employers and interns themselves and networking with educational institutions. The summit is supplemented by a published Internship Resource Guide.
LVEDC contracted with Development Counsellors International (DCI), a premier firm that specializes in destination marketing and talent attraction, to uncover young workers’ perceptions of the Lehigh Valley and their priorities when considering relocation. This engagement refreshed and expanded the scope of an earlier talent attraction study from 2018. The detailed findings will be used to guide decision-making and increase precision and depth in LVEDC’s talent attraction strategies and marketing.
At the 2023 Annual Meeting, LVEDC presented a “Lehigh Valley’s Dynamic Talent Market” panel discussion featuring young adults pursuing their careers in the Lehigh Valley.
Panelists included an entrepreneur who launched With Meraki Co., a mechanical engineer at Lutron Electronics, a machinist at B. Braun Medical, and an executive at Easy Signs.
LVEDC supports the Lehigh Valley’s effort to provide students, their families, and educators with career exploration opportunities. That support includes sponsoring the What’s So Cool About Manufacturing video competition held annually by the Manufacturers Resource Center. The program raises awareness among middle school students about career paths and technologies in advanced manufacturing.
“The alignment between economic development, workforce development, education, and community planning ensures that employment opportunities are available to all. Combined with workforce development options for getting trained and skilling up, coupled with a public and higher education system that meets the expectations of employers and individuals, this alignment results in regional economic competitiveness and growth for the Lehigh Valley.”
Nancy Dischinat Executive Director, Workforce Board Lehigh Valley
As the Lehigh Valley’s manufacturing output continues to grow, there is an increased need for a skilled technical workforce. In 2023, some of the region’s largest and most innovative companies built a trusted partnership and drove the creation of a unique new apprenticeship program that builds the pipeline of talent for advanced manufacturing. This employer-led coalition collaborated with educators, government, community organizations, and LVEDC on this endeavor.
The state-registered program, which is based on the German apprenticeship model, is governed by the nonprofit Industrial Training and Education Consortium of the Lehigh Valley (iTEC).
Member Companies:
Community Members:
German American Chamber of Commerce, Lehigh Valley Economic Development Corp., Northampton Area High School, Workforce Board Lehigh Valley
“Manufacturing is growing in the Lehigh Valley, and it is driving demand for more employees with the mechanical and technical skills needed to run the new factories. That’s why we came together with other manufacturers, training providers, and government and community partners to form iTEC.”
Jean-Claude Dubacher, Chairman and CEO, B. Braun of America Inc.LVEDC and Discover Lehigh Valley® jointly launched a branding initiative to promote the Lehigh Valley as a desirable place to live, learn, work, visit, and do business. The new branding effort includes several new logos that businesses are encouraged to use. That concerted, broad-based effort will bring more awareness of the Lehigh Valley brand, which will increase opportunities for businesses, institutions, and other partners.
• Highly legible font and colors
• Letter shape illustrates the highs and lows of the Lehigh Valley and its urban landscape
• Select letters fit like puzzle pieces when stacked, symbolizing the unity of the region
“This initiative helps to pull the entire strength of the region together in a way that we hadn’t seen before … I think it will pay off dividends for years to come.”Kassie Hilgert President and CEO, ArtsQuest
The Lehigh Valley is among the fastest growing regions in Pennsylvania. The population in Lehigh and Northampton counties topped 694,800 people in 2022 as nearby metropolitan areas lost population. The counties make up the core of the nation’s 68th largest metro region.
A desirable quality of life is one of the reasons the Lehigh Valley’s population is growing. It’s a place where you can bike the stunning trails in the day and still have enough time for a night on the town. From aged steaks and fine wine to axe-throwing and microbrews, the Lehigh Valley offers eclectic experiences in a region prized for its scenic outdoors, history, arts scene, sports arenas, and theaters. The region is home to 11 colleges and universities, highly regarded public schools, and top-rated healthcare systems. Here are a few examples of how the Lehigh Valley stood out nationally in 2023:
• Realtor.com has ranked Lehigh Valley ZIP codes among the nation’s hottest three years in a row, the most recent being 18064 in the Nazareth area in 2023.
• Bethlehem was named among the Top 100 Best Places to Live in 2023 by Livability. com, a website that ranks America’s most livable mid-sized cities.
• Allentown had the second fastest growth rate in the U.S. for high-income households in 2022, according to SmartAsset.com.
• Seven of Pennsylvania’s top 100 high schools are in the Lehigh Valley, according to rankings by U.S. News and World Report.
• USA Today readers voted the Easton Public Market as the best public market and Historic Hotel Bethlehem as the best historic hotel in the country.
• Musikfest ranked among the top music festivals and Christkindlmarkt was the No. 2 best holiday market in USA Today’s Readers’ Choice awards.
“There just seems to be something really special about the area. That’s definitely something that attracted me and definitely keeps me here.”
Ranked among the top 4% of all U.S. counties for attracting residents from international locations since 2020
Lehigh County Northampton County
Attracted more adults between ages 18-34 than any other county in Pennsylvania since 2020
Trey Cornish, Lutron Electronics
Lehigh Valley Demographic Snapshot
Total Population
661,715 694,843
Source: U.S. Census Bureau, Population Estimates, 2022
Change (2020-2022)
15,317
17,292
Domestic Migration Deaths Births Commuting Patterns
188,195
International Migration
5,9643,378
since 2020 is entirely a result of people moving here from other places.
If the Lehigh Valley were a state, it would have the sixth largest growth rate in the nation for young adults between the ages of 18-34. -12,068 4,330
Force
365,900
The labor force within an hour’s drive of the Lehigh Valley is 1.7 million.
Sources: Pennsylvania Center for Workforce Information & Analysis, December 2023, Seasonally adjusted, Chmura Economics JobsEQ
Leading Employment Sectors
Source: U.S. Census Bureau, Center for Economic Studies, 2021 Inflow/Outflow Analysis for primary jobs.
Lehigh Valley’s median household income grew by more than $15,000 over the last five years and has remained higher than the state and nationwide median.
Sources: 1 American Community Survey, 2022 5-year estimates (Estimates are weighted averages from Lehigh and Northampton counties); 2 Occupational Employment and Wage Statistics, 2022.
Federal policies, including the CHIPS and Science Act, are making the U.S. an attractive place for international investment. Foreign direct investment rose to $6.58 trillion by the end of 2022. That heightened interest continued to resonate in the Lehigh Valley, an attractive location in the heart of the Northeast market.
More than 40% of the economic development prospects that LVEDC worked with in 2023 were based in other countries. They are looking for locations to be close to their customers, and they recognize the Lehigh Valley’s advantages.
A third of all U.S. consumers can be reached within a day’s drive of the Lehigh Valley. The Port of New York and New Jersey is less than two hours away. The region is served by Lehigh Valley International Airport, with other international airports nearby.
LVEDC regularly works with the Pennsylvania Office of International Business Development to attract international investment to the Lehigh Valley. LVEDC also targeted international companies looking to expand in the U.S. through a LinkedIn marketing campaign.
The French company that produces tiny houses for “glamping resorts” opened its 17,000-square-foot U.S. headquarters in Whitehall Township in 2023.
The global gases and engineering firm founded in Germany with locations in more than 20 countries opened a 16,000-square-foot office in Upper Macungie Township that will employ about 50 people.
Lehigh Valley is home to more than 80 international companies from 23 countries. In 2023, 9 companies headquartered abroad announced or completed 1.2 million square feet of projects:
Australia
• Amcor
China
• Midea
Denmark
• Skako Germany
Taiwan
• Evonik
• Linde Engineering
• Aldi
• SR Packaging
• Hawe Hydraulik
• Ledvance
The Lehigh Valley’s strong economy drew the attention of several leading publications in Europe.
German business news magazine WirtschaftsWoche (similar to Business Week) visited the Lehigh Valley and published an article titled “American Beauty,” about the region’s economic renaissance and creation of a diversified, innovative economy.
Neue Zürcher Zeitung, a German-language newspaper in Switzerland (comparable to The Wall Street Journal) visited the Lehigh Valley and published an article about why German and Swiss companies such as ABB and B. Braun Medical find the region a good place to do business.
Le Monde, a prominent French daily newspaper, highlighted the Lehigh Valley in an article about why international companies are investing in the U.S.
In May, LVEDC promoted the Lehigh Valley to a large international audience at the 2023 SelectUSA Investment Summit. Staff spoke with businesses from South Korea, India, Romania, Belgium, the United Kingdom, Ireland, Canada, Nigeria, and other countries that are exploring options for establishing operations in the U.S.
Two dozen trade and niche publications published articles about the Lehigh Valley, on topics such as the strength of manufacturing, our life sciences and food and beverage ecosystems, and workforce development. Those publications included:
• CPG Specialist
• BioBuzz
• Chief Executive
• Chief Learning Officer
• Food Manufacturing
• Industry Today
• Smart Industry
Business owners and economic development professionals from Ireland visited the Lehigh Valley to build relationships, share information, and discuss economic strategies. Irish economic development delegations have visited Pennsylvania previously, but this was the first time their itinerary included a stop in the Lehigh Valley, a recognition of the opportunities the region holds for international business.
LVEDC placed strategic digital and print advertisements to raise the profile of the Lehigh Valley as an attractive place to work, live, learn, and do business. The ads ran both in the Lehigh Valley and outside of the region.
LVEDC partnered with Fig, a quarterly magazine that supports local businesses, to promote stories that make the Lehigh Valley a desirable place to live and work. The publication is popular in the Lehigh Valley as a community guide, and is available to businesses and visitors at local hotels and visitor centers. The placements magnify the region’s attractive quality of life, which is important to the talent that companies are recruiting.
LVEDC promoted the region’s appealing quality of life in targeted messages to young professionals in a multi-media campaign with the popular WXPN radio station in Philadelphia, its simulcast signal in New Jersey, and streaming channels. In addition, companion ads were published on NPR. org for three months through October, specifically geo-targeted to users in the Philadelphia and New York metropolitan areas. The ads encouraged listeners to explore the Lehigh Valley and consider it when relocating or exploring career opportunities. The campaigns target demographics identified in LVEDC research initiatives for talent attraction efforts.
As U.S. investment from international companies continues to rise, LVEDC sought to connect with companies in key industry sectors via LinkedIn. For six months, digital ads promoting the Lehigh Valley’s economic assets reached decision makers in France, Germany, and the United Kingdom. The campaign builds upon Lehigh Valley’s success in attracting companies from those locations.
LVEDC promoted the Lehigh Valley’s industrial might with the Philadelphia chapter of the Society of Industrial and Office Realtors®, which staged a sold-out event in September at ArtsQuest Center in Bethlehem. SIOR conferences help members connect, build strong relationships, and facilitate business deals while enhancing their knowledge of the latest trends in industrial and office commercial real estate.
LVEDC advertised in key publications that reach business leaders and site selectors. Among these publications are Site Selection, Area Development, and BisNow. LVEDC has also continued to target key decision makers through email campaigns for business attraction.
Entrepreneurs are a key driver of the Lehigh Valley economy. Their innovation and ingenuity bring new products and services to market. They create jobs and shape the character of the region.
The Lehigh Valley’s rich entrepreneurial ecosystem thrives because of the support of many organizations, including colleges and universities, nonprofits, and business incubators.
LVEDC supports those efforts by:
• Directing the Entrepreneurship Council of the Lehigh Valley that convenes service providers to share resources and information and act cohesively in support of entrepreneurs.
• Judging and participating in the 5th Annual StartUp Lehigh Valley, a pitch competition where entrepreneurs showcase their innovation.
• Sharing news, events, and resources through the monthly LVstartup e-newsletter, packed with information for entrepreneurs and business startups.
• Serving on the board of Penn State Lehigh Valley LaunchBox, which provides free support to business owners.
• Partnering in Bethlehem’s Keystone Innovation Zone (KIZ) that has invested more than $11 million in more than 110 startup companies since 2004.
JMad Creations, LLC. (JMC) of Bethlehem is developing breakthrough medical technology under the leadership of owner and engineer Jonathan Maderic. JMC has created a pulse oximeter that reduces the melanin bias found in meters currently on the market to provide a more accurate blood oxygen saturation level for all individuals regardless of skin tone. A working finger clip and a “looks-like” flexible ring have been developed. JMC is now working to integrate the pulse oximeter into a fully wireless patient monitoring system including wireless heart telemetry monitoring. The innovation won the top prize at the 5th Annual StartUp Lehigh Valley pitch competition in 2023 and has been issued two U.S. utility patents, with additional U.S. and international patents pending.
Polymer Contours, Inc. of Allentown is a textbook example of how an entrepreneur can grow a business through ingenuity and perseverance. Tyson Daniels, whose background was in multi-unit restaurant management, purchased the plastic injection molding company when it had only two machines, one customer and operated out of a 1,500-square-foot room at the Bridgeworks Enterprise Center of Allentown Economic Development Corp. Less than a decade later, it has grown to 10 employees with 11 injection molding machines and more than 30 customers. In 2023, Polymer Contours expanded and moved to its own property where it utilizes a 15,000-squarefoot space.
Office and industrial projects on this list were limited to those exceeding 5,000 square feet.
*For privacy reasons, some companies declined to provide data for their development project. These job figures are projections.
CCI Prime, also known as Chan & Chan and Prime Food Processing, expanded its Bethlehem manufacturing facility by 35,000 square feet, to a footprint of 100,000 square feet. The company joined Lehigh Valley’s flourishing food and beverage industry in 2018. It plans to increase its workforce from about 20 to 100 when the production currently occurring at its other operating site in Brooklyn is shifted to Bethlehem within about the next two years.
“We found this area to be really conducive to manufacturing. This is a great area overall.”
Eric Chan, General Manager, CCI Prime
The company manufactures dumplings, bao buns, soupy pork dumplings, mini sausages, dried sausage, and numerous other products that are sold primarily through specialty ethnic markets. CCI Prime plans to continue to expand its Asian cuisine product lines by introducing authentic dishes to mainstream retail consumers.
Factory Manufacturing LLC was created to provide a flexible space to manufacture a variety of products for the Lehigh Valley’s fast-growing food and beverage industry.
The 75,000-square-foot facility in Hanover Township, Northampton County, is equipped for the production and packaging of powdered drinks, supplements, and energy/protein bars.
The new Factory Manufacturing LLC operation offers contract manufacturing. Initial clients have included beverage company ROAR and Honey Stinger, which makes performance chews, energy waffles, and protein bars. Those brands partnered with Factory LLC, an innovation and scale-up facility in south Bethlehem.
The premium plastic jars and bottles manufacturer is renovating a 92,000-square-foot facility in Allentown and plans to move production there from its current location in northern New Jersey so it can expand operations.
Over three years, the $7.5 million expansion will create 98 jobs. Schless chose the Lehigh Valley because of its workforce and proximity to major distribution markets.
The international manufacturer of bottles, jars, tubes, and dispensing solutions for skin care, beauty, and cosmetics companies moved its North American operations from New Jersey to a 73,000-square-foot facility in Upper Macungie Township, creating 25 jobs.
It plans to begin producing tubes and PET bottles in the second quarter of 2024. Anticipated annual production is 100 million tubes and 12 million bottles.
United States Cold Storage, one of the largest companies in the food supply chain, is investing $80 million to expand its current facility in Bethlehem by 7.8 million cubic feet.
The expansion will consist of additional temperature-controlled storage space, 23,634 pallet positions, and automation that will enhance overall facility efficiencies.
The company plans to hire 30 new employees while retaining 180.
Six Fifteen Waterfront, with 109,620 square feet of Class A office space and 14,813 square feet of retail space over six floors, is the first building completed in the 29-acre, $425 million lifestyle destination known as The Waterfront along the Lehigh River in Allentown by The Waterfront Development Co. Tenants include American Bank.
About 400 people will work in the building when it is fully occupied. The development will have a series of office and residential buildings with restaurant and retail space on the ground floors.
At full build-out, The Waterfront will generate about $4 million annually in real estate taxes for Allentown, Allentown School District, and Lehigh County.
Lehigh Valley International Airport is a significant economic development asset for the Lehigh Valley, and it boomed in 2023. Nearly 931,000 passengers used the airport, the most in nearly two decades.
More than 275 million pounds of cargo were moved, setting a record for the fourth consecutive year. A new 40,000-square-foot, $35 million security checkpoint and terminal connector opened, allowing twice as many passengers to be screened per hour and shortening the distance to their gate.
“Investing in the airport’s freight capacity will create jobs, support Lehigh Valley businesses, and boost the airport’s status as a top transportation hub in Pennsylvania.”
The growing cargo operation at the airport will be supported with the construction of a Northside Logistics and Cargo Complex that includes a cross dock facility and a direct truck-to-aircraft loading apron.
LVEDC helps businesses access credit and other funding through resources including the Lehigh Valley Economic Investment Corporation (LVEIC), Lehigh and Northampton County Industrial Development Authorities, and Lehigh Valley Lending Network. Companies assisted in 2023 included:
Founded as a one-person shop with a single manual press, Lehigh Valley Apparel Creations has grown to a team of 14 people operating multiple machines including two stateof-the-art automatic presses. It received a Pennsylvania Industrial Development Authority (PIDA) loan of $308,250 to purchase and renovate a new location in Bath to accommodate growth.
The Australian sign manufacturer received a PIDA loan of $854,000 to ramp up operations and expand its workforce in Upper Macungie Township. The loan will be used toward the purchase and installation of equipment including digital printers, cutting machines, and industrial sewing machines.
Continental Cup produces high-quality paper-based cups and plastic lids for movie theaters, convenience stores, and other food service establishments. It received a $210,000 PIDA loan to assist with the purchase of new machinery and related equipment for its manufacturing facility in Bethlehem.
The natural gas utility received $567,000 in Pipeline Investment Program grants from the state to extend service to 138 residential units in Bethlehem Township, Northampton County and 232 residential units in Stroud Township, Monroe County. Those lines also will serve future commercial, industrial, and residential development.
LVEDC is the grantee for Foreign Trade Zone #272 (FTZ). An FTZ is a designated area where imported goods can be stored, distributed, processed, and used without being subject to standard customs duties. Those advantages can increase the global competitiveness of businesses operating within a zone, particularly manufacturers. Six companies operated in the Lehigh Valley’s FTZ in 2023: BMW of North America LLC; Geodis Logistics LLC; Grundfos Pumps Manufacturing Corp.; Piramal Critical Care; Primark; and Sharp Packaging Services LLC.
LVEDC collaborates with community leaders, regional economic development partners, and government officials to understand the needs and concerns that exist throughout the two-county region and to gather crucial intelligence about economic development priorities in the region. Here are a few examples of how LVEDC connected with the Lehigh Valley community in 2023:
LVEDC hosted state and federal legislators to discuss economic development trends and strategies. Fifteen legislators or their staff members attended the event at the newly renovated Wilbur Mansion in Bethlehem.
LVEDC hosted Lehigh County Executive Phillips Armstrong and Northampton County Executive Lamont McClure as they delivered their 2023 State of the County addresses to audiences of business professionals, educators, elected officials, community leaders, and others.
At LVEDC’s 2023 Annual Meeting, Allentown Mayor Matt Tuerk, Bethlehem Mayor J. William Reynolds, and Easton Mayor Sal Panto Jr. stressed the need for regional collaboration during a panel discussion moderated by LVEDC President & CEO Don Cunningham.
LVEDC convened a roundtable discussion with economic development partners to discuss common challenges and priorities and how LVEDC could help facilitate efforts across the region.
Participants included staff from Allentown, Bethlehem, Easton, Lehigh County, Northampton County, Lehigh Valley Planning Commission, Governor’s Action Team, and legislative offices. The discussions will continue in 2024.
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.
In lieu of a Q4 2023 report, we have included a year-end review of the Lehigh Valley real estate climate over the next three pages.
Source: CoStar. The Lehigh Valley is defined as Lehigh and Northampton counties.
*Includes The Waterfront office building in Allentown.
After a spike in demand during the pandemic, the Lehigh Valley industrial market showed signs of normalizing.
Industrial space under construction fell from 7.2 million square feet in Q3 2022 to 3.3 million square feet in Q4 2023.
Rent rose by a third since Q1 2021 but has held steady over the last year.
LVEDC works with our partners to help existing businesses thrive and expand and to attract new businesses. Attraction work focuses on key industry sectors because of their potential for growth and the creation of jobs at family-sustaining wages:
LVEDC targets decision makers in key industries through monthly email campaigns for business attraction and paid advertising campaigns targeting key site selectors.
At the end of 2023, more than three-quarters of the economic development prospects that were considering the Lehigh Valley were in our target sectors.
Watch: Manufacturing Video
As part of a periodic interview series, LVEDC published indepth interviews with the region’s thought leaders, including leaders at OraSure Technologies and C.F. Martin & Co.
“The beauty is the Lehigh Valley
is
rich with the talent we need for science and technology –from PhDs to undergrads. That really is helping us drive our innovation, from manufacturing to every function in-between.”
Carrie Eglinton Manner CEO, OraSure TechnologiesLVEDC sponsors and attends events with key corporate decision makers and site selectors, such as SelectUSA (see page 19) and the Society of Industrial and Office Realtors® (see page 20). Other events attended or sponsored in 2023 included:
Thomas Ripsam President and CEO, C.F. Martin & Co.
LVEDC promotes the Lehigh Valley as a place to live, work, learn, and do business. Digital and print publications with targeted messaging are distributed to partners and stakeholders and to those outside the region who have expressed an interest in learning more about the Lehigh Valley.
LVEDC’s website, lehighvalley.org, is a primary source of information for those seeking information about the Lehigh Valley, particularly why they should consider it as a location to do business or to raise their family. In 2023, the website was redesigned to improve functionality and visual appeal. Resources, including publications, videos and data, are added frequently.
The quarterly Lehigh Valley Commercial Real Estate Report provides a detailed overview of industrial and office market activity, notable real estate transactions, and population and labor force trends (see pages 30-32 for Q4 2023). In 2023, the report was expanded to add a feature article and images about a trending sector of the Lehigh Valley economy.
Newsletters are a key component of LVEDC’s communications strategy. Readership of LVEDC’s newsletters grew in 2023 after they were promoted more frequently via social media. To subscribe to the newsletters, visit lehighvalley.org/newsletter-signup.
The Lehigh Valley Insider, distributed Tuesdays, shares original stories about economic development and aggregates the major news of the week. The stories provide insights from the region’s industry leaders, data analysis, and announcements about important events.
The monthly e-newsletter provides news and events of interest to entrepreneurs and business startups. Distributed monthly, the newsletter was redesigned in 2023 with a resources library and more photos to highlight the creativity of the Lehigh Valley’s entrepreneurial community.
(See page 21)
The quarterly e-newsletter was created in 2023 to highlight talent news and data, regional and national trends, and the career paths of Lehigh Valley business leaders.
The quarterly e-newsletter informs municipal partners about economic development priorities and trends.
The e-newsletter debuted in 2023 to provide monthly updates on interest rates for Small Business Administration 504 loans and Pennsylvania Industrial Development Authority (PIDA) loans.
LVEDC was honored for promoting equality in the workplace with an “Empowering Women Award” presented by Lehigh Valley Business and Central Penn Business Journal. The award recognizes companies and organizations in central and eastern Pennsylvania that show a strong commitment to supporting and empowering women.
Women hold four of the five senior leadership positions at LVEDC, and make up more than half of LVEDC’s staff. LVEDC actively recruits women to serve on the Board of Directors, which brings together the talents and expertise of leaders from a broad cross-section of Lehigh Valley businesses and organizations. Nine of the 23 elected board members are women. Two of the nine are women of color.
The International Economic Development Council bestowed its Silver Award for LVEDC’s annual report, the sixth consecutive year that the report was recognized as among the best. LVEDC competed in the largest population category of the IEDC awards, regions with populations greater than 500,000, facing off against organizations with far greater resources.
IEDC is the largest economic development organization in the world. LVEDC is accredited by IEDC, one of only 74 accredited economic development organizations in North America.
Also winning a Silver Award for Economic Development Excellence from the International Economic Development Council was the Welcome to Lehigh Valley Guidebook, a joint publication of LVEDC and Discover Lehigh Valley®.
The 24-page booklet is a colorful introduction to the Lehigh Valley. Its purpose is to shape positive and authentic perceptions of the Lehigh Valley among people unfamiliar with the region.
With an annual output of $8.1 billion, manufacturing drives innovation and opportunity in the Lehigh Valley and is responsible for 30% of the Lehigh Valley job growth over the last five years. The number of women working in manufacturing has grown by 22% since 2017.
Chair
Edward Dougherty
Senior Vice President &
Chief Business Development Officer
Lehigh Valley Health Network
Vice Chair
Stephen Hoff
Executive Vice President and Chief Financial Officer
Crayola
Treasurer
Chris Brown
Senior Vice President &
Director SBA Lending
Fulton Bank
Secretary
Dan McCarthy
Secretary Lehigh Valley Partnership
Don Cunningham
President & CEO
Lehigh Valley Economic Development
Corporation
Paul Anthony
Business Manager
IBEW 375
Hon. Phillips Armstrong
County Executive
Lehigh County
Dr. Ann D. Bieber
President
Lehigh Carbon Community College
Gunnar Brunius
Vice President & General Manager
Mack Trucks, Lehigh Valley Operations
Adam J. Galczynski
Corporate Director of Sales/Lehigh Valley
Director UGI Utilities, Inc.
Dr. Lisa Greenawalt
Executive Director
Lehigh Career & Technical Institute
Rev. James J. Greenfield, OSFS
President
DeSales University
Hon. Dan Hartzell
Commissioner-at-Large
Lehigh County Board of Commissioners
T.Anthony Iannelli
President & CEO
Greater Lehigh Valley Chamber of Commerce
Thomas R. Ike
Executive Vice President
Lutron Electronics
Neal Koplin
Senior Executive Vice President and Chief Banking Officer
Peoples Security Bank & Trust
Michael Landsburg
Chief Development Officer, Real Estate
NFI Industries
Susan Larkin
Chief Operating Officer Allied Personnel Services
Christine M. Martin
President
PPL Electric Utilities
Hon. Lamont McClure
County Executive
Northampton County
Michele McGrath
Director Global Engineering (ret.)
Air Products and Chemicals, Inc.
Shelly McWilliams
President
Lehigh Valley Plastics, Inc.
Alex Michaels
President & CEO
Discover Lehigh Valley®
Ray Midlam
Network Vice President of Business Development & Strategy
St. Luke’s University Health Network
Hon. Sal Panto Jr.
Mayor
City of Easton
Hon. J. William Reynolds*
Mayor
City of Bethlehem
Dr. Tina Q. Richardson
Chancellor
Penn State Lehigh Valley
Julien Sauvagnargues
President
Olympus Corporation of the Americas
Loren Speziale
Deputy Managing Partner
Gross McGinley LLP
Carolyn Stennett
Vice President, Human Resources
Victaulic
Hon. Matt Tuerk
Mayor
City of Allentown
R.Scott Unger
Executive Director
Allentown Economic Development Corp.
Hon. Tara Zrinski
Commissioner
Northampton County Council
*Also, Chair, Bethlehem Economic Development Corp.
Don Cunningham
President & CEO
Jaime Marie Whalen
Executive Vice President & Chief of Staff
Kristin Cahayla-Hoffman
Vice President
Business Development & Attraction
Karianne Gelinas
Vice President
Regional Partnerships & Talent Strategies
Nicole Radzievich Mertz
Vice President
Marketing, Communications & Research
George Lewis
Special Assistant to the President & CEO
Frank Alvarado
Director Research & Data Management
Lori Betters
Director
Budget & Administration
Paul Muschick
Director Communications & Media Relations
Doug Warfel
Director
Attraction & Lending
Jennifer Weighknecht
Director
Economic Development Finance
Jarrett Witt Director Business Development
Stephanie Wean Program Manager
Annie Hollands Lanscek Marketing Administrator
Diane Milia
Executive Assistant
Staff listing as of March 2024
Note: These figures do not include pass-through grant funds managed by LVEDC.
Northampton County Lehigh County
AblePay Health
Adams Outdoor Advertising
Ashley Development Corporation
BSI
CAI
DeSales University
Embassy Bank for the Lehigh Valley
Life Sciences PA
ArtsQuest
Albarell Electric
Barry Isett & Associates
Blue Rock Construction
Broughal & DeVito
Buckno Lisicky & Company
Burkholder’s Heating & Air Conditioning
Cedar Crest College
Colliers Engineering & Design
Feinberg Real Estate Advisors
Gross McGinley LLP
High Construction
Hospital Central Services
iDEAL Semiconductor
Jaindl Land Development
JM Uliana & Associates
Compass Point Family Business Consulting
Da Vinci Science Center
D’Huy Engineering
EARTHRES
FastSigns of Allentown
Fedetz & Martin Associates
Gelcor Realty
Hanover Engineering Associates
Hanover Township - Lehigh County
Hotel Bethlehem
Howard Hanna The Frederick Group
Lafayette College
Lee & Associates of Eastern PA
Lehigh Carbon Community College
Lehigh Career & Technical Institute
Lehigh Valley Plastics
Mericle Commercial Real
Estate Services
MKSD architects
Moravian University
Muhlenberg College
New Tripoli Bank
Northampton Community College
OraSure Technologies
Penn State Lehigh Valley
Ironton Internet & Telephone
Joshi Hotel Group
Just Born
Kelly Automotive Group
Keystone Food Products
King, Spry, Herman, Freund & Faul
Klunk & Millan Advertising
Kressler Wolff & Miller
Langan Engineering & Environmental Services, Inc.
Lehigh County Authority
Lehigh Valley Industrial Park
Lehigh Valley Rail Management
Lesavoy Butz & Seitz
Manufacturers Resource Center
Martin Guitar
Michael Baker International
Morris Black & Sons
Nacci Printing
NAI Summit
National Magnetics Group
Norac USA
Provident Bank
QNB Bank
Quandel Construction Group
SEEDCOPA
Service Electric Cable TV and Communications
SVN | Imperial Realty
Univest Financial Corporation
O’Brien’s Moving & Storage
Penntex
RETTEW
SAGE Design-Build
Santanasto Law
Southland Industries
Terraform Engineering
The Witmer Group
Berger-Epstein Associates
Reimer Real Estate
The mission of the Lehigh Valley Economic Development Corporation is to market the economic assets of the Lehigh Valley and to create partnerships to support the recruitment, growth and retention of employers and the creation of jobs for people of all skill and education levels.
Our vision is of a diverse Lehigh Valley economy that provides economic growth and opportunity for people of all skill and education levels and strengthens all our cities, boroughs, and townships.
• 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 help to 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