As the Lehigh Valley economic output reached a record of $55.7 billion, household incomes in the region continued to rise to $81,709 and poverty rates fell, new U.S. Census data shows. 
The income growth of $17,000 in five years outpaces inflation. Median household income in the Lehigh Valley exceeds Pennsylvania ($76,081) and the U.S. ($78,538).
The Lehigh Valley poverty rate was at 10.5% in 2023, which decreased by about 0.5% from five years before. That’s lower than Pennsylvania (11.8%) and the U.S. (12.4%).
“The growth in wages and household income in the Lehigh Valley are the economic development statistics that matter the most," said Don Cunningham, President and CEO of Lehigh Valley Economic Development Corporation (LVEDC). “The purpose of growing an economy is to create jobs and opportunity for people of every background and skill set to help them realize their version of the American Dream here in the Lehigh Valley.”
The data comes from the American Community Survey’s 2023 five-year estimates, the most recent data available.
Lehigh Valley is one of the fastest-growing markets in the Northeast, with population rising to just shy of 700,000. People are drawn here because of the attractive career opportunities and variety of lifestyles, from thriving downtowns in cities and boroughs to rural suburban communities. The dining scene caters to many tastes, and recreational opportunities range from music and art to history and sports. Lehigh Valley is home to 11 colleges and universities and top-rated healthcare systems.
A high quality of life is essential for companies to recruit the talent they need to power their operations. Executives from leading Lehigh Valley life sciences and technology companies said in October at LVEDC’s Fall Signature Event that the exceptional standard of living is a selling point as they seek to hire.
“It is an absolutely fantastic area,” said Robert Cuscino, Senior Vice President Regional Development – North America at Evonik, a producer of specialty chemicals that operates its North American research and development facility in Upper Macungie Township.
“Before you even hire these people, you want to share all these wonderful attributes that the Valley has to offer. We have proximity to New York City. We have proximity to Philadelphia, proximity to Boston. So, when you think about innovation, those are three critical areas around the United States where innovation occurs. We're in the middle of all of it, and that, in and of itself, is a wonderful retention attribute,” Cuscino said.
“Once people come into the Valley and join us, it's very rare that they leave,” said Richard Reynolds, President of the Medical Systems Group at Olympus Corporation of the Americas, which has its headquarters in Center Valley. “Because it's a wonderful place to raise a family. It's close to metropolitan cities, so that you can enjoy that, but it's got that rural element to it and some really great places to go out and eat so it kind of ticks all the boxes.”
In December, ConsumerAffairs ranked Pennsylvania as one of the top three states to raise a family. It compared each state in terms of cost, safety, education, health care, and quality of life.
(Photo courtesy of ArtsQuest)