The Neighborhood Improvement Zone was established by Act 50 in 2009 and Act 26 of 2001 by the Pennsylvania Department of Revenue to encompass challenging development opportunities and spur critical economic development projects within a 130-acre allotment of center city Allentown. The centerpiece of which is an arena that will serve as the home of the Phantoms hockey team, the minor-league affiliate of the National Hockey League’s Philadelphia Flyers, and will host concerts and events. In addition, Lehigh Gas has committed to locating their corporate headquarters to the NIZ and the construction of a new hotel and various commercial office buildings is also expected.
LVEDC provides access through our local, state and federal partners to numerous low-interest loan programs available to promote business expansion in the Lehigh Valley. Below are the current rates for some of the programs we administer. To learn more on how they can benefit your business, tell us more about your project.