The President of the Federal Reserve Bank of Philadelphia traveled to the Lehigh Valley recently to meet with business leaders and hear successes, challenges, trends, and other insights about the regional economy. 
During the Aug. 5 visit, President and CEO Anna Paulson heard from executives at companies including Olympus Corporation of the Americas, Hospital Central Services, H.T. Lyons, Inc., BSI Corporate Benefits, and Allied Personnel Services, along with leaders from Lehigh Valley Economic Development Corporation (LVEDC).
LVEDC brought together those stakeholders to enable Paulson to deepen her knowledge of the area and inform her work representing the region in monetary policy discussions at Federal Open Market Committee meetings.
"With deep industrial roots, the Lehigh Valley's economy reflects resilience, innovation, and growth. During my recent visit to Allentown, local business leaders shared real-time perspectives on what they're seeing in their businesses and hearing from clients,” Paulson said. “These on-the-ground observations inform my monetary policy discussions. I want to thank the Lehigh Valley Economic Development Corporation for convening this important conversation and for their leadership in fostering the cross-sector collaboration driving the region's momentum."
Don Cunningham, President & CEO of LVEDC, provided an overview of the Lehigh Valley, which has been ranked as the nation’s No. 1 mid-sized market for economic development in two of the past three years by Site Selection magazine.
He shared how the economy is diversified, with manufacturing being a leading driver. Economic growth is driven by the region’s location and talented workforce and supported by a growing population, Cunningham said.
“The Federal Reserve Bank of Philadelphia is a great partner in economic growth issues for the Lehigh Valley and the larger region,” Cunningham said. “We are grateful that President Paulson and her team visited to meet with key executives and LVEDC leadership to better understand the opportunities and challenges shaping our economy.”
During her visit to the Lehigh Valley, Paulson also met with community bankers.
She regularly visits communities throughout the Third Federal Reserve District, which includes Delaware, southern New Jersey, and eastern and central Pennsylvania, to hear from residents, businesses, and local leaders and learn about the region's economy.
In an article about her visit to the Lehigh Valley, the Federal Reserve said:
“The Lehigh Valley's story provides a blueprint for how regional cooperation, strategic investment, and sustained public-private partnerships can breathe new life into communities. This transformation offers lessons for other regions responding to economic change.”
(Photo by LVEDC)