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LVEDC, Lawmakers Discuss How to Bolster Lehigh Valley Economy While Protecting Quality of Life

Published Tuesday, May 21, 2024
by Paul Muschick

 

Federal and state legislators representing the Lehigh Valley were hosted recently by Lehigh Valley Economic Development Corp. (LVEDC) for a discussion about the regional economy and the factors that influence it.

Attending the May 9 event at Melt in Center Valley were state Representatives Ann Flood, Milou Mackenzie, Ryan Mackenzie, Jeanne McNeill, Steve Samuelson, and Josh Siegel. 

Also in attendance were representatives for U.S. Rep. Susan Wild; U.S. Senators Bob Casey and John Fetterman; state Representatives Joe Emrick and Peter Schweyer; and state Senators Lisa Boscola, Jarrett Coleman, and Nick Miller.

Representing the Pennsylvania Department of Community and Economic Development was Fadia Halma, the Lehigh Valley Regional Director.

LVEDC hosts the annual legislative event to keep lawmakers informed about the latest economic data and trends and to discuss strategies for how to address challenges.

"The Lehigh Valley couldn't have the economic development success that it does without the support of the state and our legislative delegation. They are critical to helping the region maintain its attractiveness, competitiveness, and talent supply for our employers. We are grateful that they regularly offer bi-partisan support to LVEDC's work and agenda,” said LVEDC President & CEO Don Cunningham.

The region’s economy has grown by $10 billion in the last five years, to a Gross Domestic Product of more than $50 billion, Cunningham told the lawmakers and legislative staff. The diverse economy is driven by manufacturing, which makes up 16% of the region’s GDP.

Cunningham said the rise in GDP has coincided with a rise in prosperity for people who live in the Lehigh Valley. Median household income has risen to higher than the state and national medians. And poverty rates have dropped, to lower than the state and national rates.

In 2023, the Lehigh Valley was ranked as the top mid-sized market for economic development in 2023, by Site Selection magazine. The region had ranked near the top in previous years, including No. 2 in 2022. Cunningham said ascending to the No. 1 spot is a significant achievement, considering the Lehigh Valley is competing against communities in the fast-growing South and Southwest.

It's important to recognize that the region has reached an inflection point, though, Cunningham said. Economic and population growth have brought challenges, too.

There is limited availability of industrial and manufacturing space. The housing market is tight, and prices are rising. The pandemic changed how office properties are being used. And further development and growth is not universally popular among the public.

Those challenges must be met to balance quality of life, open space, and economic opportunity, Cunningham said.

Those factors will be considered as LVEDC creates its strategic plan for the next three years, Cunningham said. LVEDC will use the state’s new 10-year economic development strategy as a guide.

The state strategy, unveiled by Gov. Josh Shapiro in the Lehigh Valley in January, focuses on growing key industry sectors, getting sites shovel ready for development, issuing permits and other approvals promptly, and investing in workforce training, entrepreneurs, and communities

The state plan was a topic of discussion between LVEDC and the state lawmakers and staff, along with issues about housing and the cost and availability of childcare.

Housing and childcare matter for businesses because they affect their labor force. Employers want workers to be able to live comfortably near where they work. And some workers need reliable and affordable childcare so they can enter or stay in the workforce. Pennsylvania raised its childcare tax credit in 2024 to help address that issue.

Karianne Gelinas, LVEDC’s Vice President of Regional Partnerships & Talent Strategies, told legislators that attracting, developing, and retaining a talented workforce is a leading concern for many companies.

Gelinas said LVEDC is assisting companies through initiatives such as the Lehigh Valley Internship Summit that will be held July 23. Strong internship programs are a pipeline for recruiting talent.

Last year, LVEDC created the Hot Careers Dashboard, an interactive website that helps students and job seekers explore career opportunities, Gelinas said. The dashboard can be used to explore jobs, industries, wages, educational programs, and more to shape career paths.

LVEDC has been recognized nationally for its award-winning talent supply initiative.

Nicole Radzievich Mertz, LVEDC’s Vice President of Marketing, Communications, & Research, shared information about the Lehigh Valley’s regional branding strategy, a partnership between LVEDC and Discover Lehigh Valley®. The organizations are jointly promoting the region as a great place to live, work, learn, and do business.

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