2014 ANNUAL REPORT · 2015-12-15 · 2014 ANNUAL REPORT CELEBRATING 20 YEARS OF HELPING BUSINESSES TO COME, GROW AND START HERE. 2 LVEDC ANNAL REPORT 2014 LVEDC CELEBRATES ... (IEDC)

2014 ANNUAL REPORT

www.lehighvalley.org

CELEBRATING 20 YEARS OF HELPING BUSINESSES TO COME, GROW AND START HERE.

LVEDC ANNUAL REPORT • 20142

LVEDCCELEBRATES20 YEARS1995 - 1998 1999 - 2001 2002 - 2005

LVEDC was founded in 1995, as a collaboration of the region’s business community through the Lehigh Valley Partnership to create a regional economic development effort. Thomas Kucharski became the first President and CEO. A five-year plan was established, and many of its goals were achieved by the first year. Goals included the addition of 5,500 new jobs, and the generation of $125 million in corporate capital investment and $80 million in personal expenditures annually.

The Northampton County Development Corporation merged with LVEDC in 1999. That same year, the Industrial Development Commission of Northampton County became a resource partner staffed by LVEDC. In 2000, Raymond Suhocki became the organization’s President and CEO. The Lehigh Valley Land Recycling Initiative (LVLRI) was established in 2001, promoting economic development through the reuse of brownfields.

New partnerships were formed between LVEDC and the Allentown Economic Development Corporation and Northampton County Industrial Development Authority. LVEDC is recognized by the Pennsylvania Economic Development Association as the 2002 Large Agency of the Year, and the Lehigh Valley was recognized by Forbes magazine as one of the “50 Best Places for Business” in 2004.

LVEDC ANNUAL REPORT • 2014 3

The Lehigh Valley Economic Development Corporation (LVEDC) was founded during a time of major change for the Lehigh Valley, with the closing of such institutions as Bethlehem Steel and the Hess’s Department Store. LVEDC was formed in 1995 under the core belief that a regional approach was the most effective way to foster economic development Twenty years after the organization’s inception, the Lehigh Valley has taken tremendous strides, and in 2014 was ranked the top-performing region of its size in the Northeastern United States by Site Selection magazine. LVEDC’s core mission today is more clear than ever: to market the economic assets of the Lehigh Valley, and to serve as a regional shared services and resource

center to help businesses come, grow and start here.

2005 - 2008 2009 - 2012 2012 - Present

In 2006, the Lehigh Valley accounted for 35 percent of the jobs created in Pennsylvania—more than any other region in the state. In 2007, LVEDC’s application was approved to establish the Lehigh Valley as a Foreign Trade Zone, and Philip Mitman became LVEDC President and CEO. LVEDC became coordinator of the South Side Bethlehem Keystone Innovation Zone (KIZ) and managed the Keystone Opportunity Zone (KOZ) initiatives.

An LVEDC five-year strategic plan was established in 2009, identifying new strategic priorities. The organization partnered with the regional Office of Minority and Women-Owned Businesses. LVEDC became one of 38 economic organizations in the country to receive the International Economic Development Council’s (IEDC) designation as an Accredited Economic Development Organization.

Don Cunningham became LVEDC President and CEO in 2012. Garner Economics LLC, of Atlanta, Georgia, conducted a comprehensive review to establish new economic development and marketing strategies for the Lehigh Valley. In 2014, Site Selection magazine ranked the Lehigh Valley as the top-performing region of its size in the Northeastern United States for economic development activity.


A MESSAGE FROM THE CHAIRMAN

This year marks the conclusion of my two-year term as chairman of the LVEDC board, and it has been an extremely rewarding and gratifying experience for me. I’ve had the opportunity to work with some truly talented and dedicated individuals in both the public and private

sectors, all working toward the same shared goal of growing our region.

When I became chairman, my goal was for LVEDC to narrow its focus to ensure the organization was delivering on this core mission: marketing the region to attract new businesses, retain existing businesses and help them grow, and help companies start. I believe we have taken great strides toward accomplishing that goal. It started with the reorganization of our executive team, staff and board governance, particularly with the hiring of Don Cunningham as president and CEO in 2012. Since then, other key hiring decisions have been made for positions within the organization, and

we have moved away from an Executive Committee/Board management format to that of an Executive Team which leverages the Board for input.

We began the process of forging a strategy to help guide the Lehigh Valley’s economic development

initiatives for the next decade. This involved the hiring of Garner Economics, LLC, of Atlanta, Georgia, a nationally-recognized economic development consulting firm, to conduct an assessment of the region’s strengths and weaknesses, and develop a regional approach to development and growth in the Lehigh Valley. That study was released in 2014, and its findings informed the LVEDC as it adopted a comprehensive strategic plan that will serve as the foundation for the region’s economic development through 2017. The plan has six Strategic Priorities: 1) serving as a shared services center; 2) providing access to capital; 3) building our resources and engaging stakeholders; 4) marketing the region’s economic assets;

5) coordinating a prepared workforce; and 6) focusing on city and urban development.

With that strategic plan as our road map, the LVEDC is now undertaking changes to become more proactive, more intelligent, and more effective and efficient. One of the areas we are focusing on as part of marketing the region’s economic assets is developing a deep understanding of our four targeted industry sectors as defined by the Garner study: high performance manufacturing, high value business services, life science research & manufacturing, and food & beverage processing. With this knowledge, the organization can focus its efforts on marketing and attracting growth in these sectors, and for the first time in our history, actively market targeted companies within these industry sectors and bring them to the Lehigh Valley.

LVEDC is one of only 38 economic development organizations in the United States to earn the designation Accredited Economic Development Organization, an important distinction which reflects the LVEDC’s commitment to ongoing professional development among its staff. Additionally, Site Selection magazine has ranked the Lehigh Valley among the top 10 best-performing regions of our size for a seventh straight year. But as important as these recognitions are, the results are what truly matters, and the growth in jobs that you will read more about in this annual report show that the results are impressive.

As I leave the position of chairman, I’m happy to say the organization is strong, well-positioned, and on the right track to continue to lead the Lehigh Valley into an exciting and prosperous future.

I’d like to thank all of LVEDC’s many stakeholders for your continued support.

Tom Garrity2013 - 2014 LVEDC Board ChairCompass Point Consulting

LVEDC is one of only 38 economic development organizations in the United States to earn the designation Accredited Economic Development Organization.We began the

process of forging a strategy to help guide the Lehigh

Valley’s economic development

initiatives for the next decade.


A MESSAGE FROM THE PRESIDENT & CEO

2014 was quite a year for the Lehigh Valley.

A half-billion dollars of new public and private investment was pumped into our largest city, resulting in an entirely new commercial downtown in the heart of Allentown. The online

retailer, zulily inc., announced its intention to build its East Coast base of operations here, which will make it the Lehigh Valley’s 16th employer with more than 1,000 workers. We completed 21 projects last year, and were ranked the top-performing region

for economic development in the Northeastern United States by Site Selection magazine. The Lehigh Valley was also one of only two regions of our size in the country to make Site Selection’s top 10 list of best-performing regions for a seventh consecutive year.

I’d like to thank everyone who has played a part in helping this organization deliver on its mission of growing opportunity and creating jobs in the Lehigh Valley. In particular, I’d like to acknowledge the LVEDC Board of Directors for their direction, guidance and support. In the two-and-a-half years since I’ve been with this organization, our various stakeholders have never wavered in their commitment to the region or its focus on our most important goal: creating jobs to keep people here and to bring people here.

The 21 projects completed last year have resulted in the creation of at least 3,800 jobs. The LVEDC financing projects,

which included providing access to $17.1 million in financing in 2014, resulted in another 261 jobs created and 820 retained. Another $15.1 million in loans approved in previous years were closed in 2014, creating 1,138 jobs and retaining 847 more. I consider these jobs to be the strongest benchmark in evaluating the success of LVEDC as an organization.

We’re heading in the right direction, but we still have a lot of work to do, and we recognize that we’re competing not only with other Pennsylvania regions, but with the other 49 states and the rest of the world.

While it will be difficult to duplicate the over-the-top success of 2014, there is every reason to believe the Lehigh Valley’s trend of growth will continue into 2015. Fuling Plastic USA will establish its American operations in the Lehigh Valley this year, becoming the region’s first Chinese-owned manufacturer. When Talen Energy Corp. splits off from PPL Corp., it will create the third Fortune 500 company headquartered in the Lehigh Valley. The groundwork is continuing to be built for new offices in downtown Allentown and industrial and commercial development off the new Route 33 interchange in Northampton County. And progress is being made within the City Revitalization and Improvement Zone in west and south Bethlehem, which could bring up to $800 million in new investment and create thousands of new jobs.

As LVEDC enters its 20th year of operation, we’ve put ourselves in the best possible position to continue the growth of our economy. In 2014, we adopted a three-year strategic plan that clearly defines our mission, vision, priorities and principles, and details exactly how we will ramp up our development, marketing, finance and administration initiatives. This plan is in line with the recommendations made by Garner Economics, LLC, of Atlanta, Georgia, a nationally-recognized site selection and economic development consultant, which LVEDC engaged to recommend economic development and marketing strategies for the Lehigh Valley.

Great things are happening in the Lehigh Valley, and we’re dedicated to making sure that continues as we push for the ongoing advancement of economic development in this region for everyone and all areas.

Thank you for your continued support of LVEDC and economic growth in the Lehigh Valley.

Don CunninghamPresident & CEO

We completed 21 projects last year,

creating 3,800 jobs.

Top-performing region for economic

development in the Northeastern

United States.


Walmart to invest

$96 Million and create

650 Jobs


FEATURED DEVELOPMENT PROJECTS

The national online retailer’s decision to establish its first East Coast location on former Bethlehem Steel Corp. land will create 1,200 new positions. That will make it the 16th Lehigh Valley business with 1,000 or more employees, putting it in the same league as such regional mainstays as Olympus and Crayola.

The $43.6 million zulily plans to invest in building its 820,250 square-foot facility is a reflection of the Lehigh Valley’s rapidly growing e-commerce business community. The project was won largely on location, due to our proximity to the New York and Philadelphia markets, as well as the Lehigh Valley Industrial Park VII’s access to Interstate 78 and rail service.

Founded in 2010, zulily’s corporate headquarters is based in Seattle, with additional fulfillment centers in Reno, Nevada and Columbus, Ohio. The company, which attracts 4.1 million active customers and features more than 15,000 brands, received a $3.6 million funding proposal from the state. The project was coordinated by LVEDC and the Governor’s Action Team. The building had already been under construction on speculation by Liberty Property Trust, and falls on a site containing both Local Economic Revitalization Tax Assistance (LERTA) and Enterprise Zone designations.

Already the world’s largest retailer and the biggest company in the world by revenue, Walmart has been working in recent years to bolster its e-commerce business and distribution center infrastructure, and it has chosen the Lehigh Valley as one of the places to do it.

The company had already announced in 2013 it would lease a 1.2 million-square-foot warehouse in Bethlehem’s Lehigh Valley Industrial Park VII, which Liberty Property Trust built on speculation in 2013. In 2014, the retail giant doubled down on its investment in the Lehigh Valley, announcing it would open another 1.2 million-square-foot distribution center in the nearby Majestic Bethlehem center.

Between the two projects, Walmart will invest $96 million and create 650 full-time, well-paying jobs. The second facility will employ about 300 and boast state-of-the-art automation and warehousing systems. The two facilities make up Walmart’s largest fulfillment center dedicated solely to online orders. The Lehigh Valley’s economic assets, including its easy access to highways and proximity to New York and Philadelphia, have proven a perfect fit for the e-commerce market. This industry is moving away from massive warehouses full of merchandise in favor of facilities where items are kept for shorter amounts of time and shipped more quickly to accommodate online orders..



When Taizhou Fuling Plastics Co. started looking to establish its first manufacturing facility in the United States, they had no shortage of options. The company, China’s largest manufacturer of plastic tableware and kitchenware, considered sites in North Carolina, South Carolina, Virginia, Maryland and New Jersey, as well as five locations in Pennsylvania. In the end, they chose the Lehigh Valley, which company officials said was based on the region’s central location, convenient transportation, strong support network, public security and the cooperation of local officials in making the project happen.

Fuling Plastic USA will become the first Chinese-based company to establish its American operations in the Lehigh Valley. LVEDC worked on the recruitment of Fuling for nearly a year, in concert with the state Department of Community and Economic Development and the Governor’s Action Team. Fuling will invest $21.3 million in an 88,000 square-foot facility in Upper Macungie Township, creating 75 jobs that will be filled by American workers.

Fuling, which employs 1,500 people worldwide, supplies plastic utensils to fast food giants McDonald’s, Burger King, Wendy’s, Subway and Kentucky Fried Chicken, as well as national supermarket chains Walmart, BJ’s Wholesale and Target. Their decision to establish roots in Lehigh Valley reflects the growth of our manufacturing sector, and shows when it comes to attracting businesses, we’re not just a national player, but an international one as well.

Fuling Plastic USA

First Chinesecompany to

establish American operations in the

Lehigh Valley


With its Allentown facility 44 years old, Hospital Central Services Inc. (HCSC) knew they needed to make a change. Costs associated with the plant were growing so high, the industrial laundry processing and linen service company started to consider leaving the Lehigh Valley altogether. Instead, thanks in part to guidance and financing assistance from the LVEDC, HCSC undertook a $10.5 million facility expansion, which will not only retain the roughly 180 jobs already there, but create another 38 jobs once the expansion is complete.

HCSC serves about 130 acute care hospitals and more than 400 total health care facilities, including the Lehigh Valley’s local hospital systems. LVEDC and Lehigh’s Economic Advancement Project (LEAP) helped the company secure a $2.25 million Pennsylvania Industrial Development Authority (PIDA) loan, which assists businesses for land and building acquisition, construction and renovations that create or preserve jobs.

The expansion involves a 21,000 square-foot addition to their facility, which will increase production capacity, reduce energy consumption and modernize plant operations, allowing for an increase in laundry production capacity from 25 million to 45 million pounds per year. Perhaps more importantly, it will ensure that an excellent company that creates jobs and provides a service to local hospital and care centers will remain in the Lehigh Valley.

A nationally-renowned leader in the aerospace industry is nearly ready to make the Lehigh Valley its home. Throughout 2014, Curtiss-Wright has been preparing to relocate from its New Jersey manufacturing facility into a new high-tech, state-of-the-art facility at the Lehigh Valley Industrial Park VII in Bethlehem. The $25 million project will establish a 169,000 square-foot manufacturing and warehousing facility to house Curtiss-Wright’s engineered pump division, employing at least 95 full-time employees over a three-year span.

Curtiss-Wright is a manufacturer of highly engineered pumping, propulsion and valve and control systems, which are used in the maritime, defense and utility industries, among others. The company has a long and distinguished history in the aerospace industry, forming in 1929 with the merger of companies associated with the Wright Brothers and Glenn Curtiss, the father of naval aviation. Since then, Curtiss-Wright has worked to perfect engines and propellers, and has manufactured electro-mechanical control and actuation systems for the space program.

The company, which has 13 divisions and 6,000 employees nationwide, chose the Lehigh Valley from a number of competing locations in other states. It will become one of two substantial U.S. Navy contractors in South Bethlehem, along with Lehigh Heavy Forge, and will bring skilled advanced manufacturing jobs averaging $81,000 a year.

HCSC



In 2013, the West Hills Business Center in Weisenberg Township made a splash when it was announced that National Freight Industries (NFI) would be moving in, providing warehouse and distribution services for Ocean Spray Cranberries, Inc. In 2014, it was announced that the $110 million business park was continuing to grow, as construction began on two new speculative industrial properties.

The new buildings are 231,700 and 435,500 square-feet in size and are expected to be completed by the second quarter of 2015, according to Hillwood Investment Properties, the Dallas-based developer of the business park. As the development process started, Hillwood immediately began fielding numerous calls from businesses outside the Lehigh Valley interested in establishing a distribution center for the Northeast region. Logistics companies have also expressed interest, in part due to the quality of the labor base in the Lehigh Valley.

The West Hills Business Center falls within a Tax Increment Financing (TIF) district, which the LVEDC helped establish and administer through the Lehigh County Industrial Development Authority. The TIF provided necessary funding for public infrastructure improvements to support the development of the site, including rebuilding a section of Route 863 and the access ramps to and from Interstate 78, repairs to a functionally obsolete bridge over I-78, and the expansion and improvement of a wastewater plant.

Flexicon, a manufacturer of engineered industrial bulk handling and processing equipment and systems, has operations not only in the United States, but also in the UK, Australia, South Africa, Chile and Singapore. But the headquarters from which they oversee all of those operations is right here in the Lehigh Valley, and that facility is growing.

Flexicon broke ground in September on a $6.5 million expansion project that will double the size of its 91,000-square-foot Bethlehem Township-based U.S. headquarters, a project expected to add up to 50 jobs and retain 138 jobs. The expansion will reduce wait times for equipment deliveries, allow for the development of new product lines, increase the company’s assembly department eight-fold, and double the size of its steel forming, welding, grinding, polishing and blasting departments.

LVEDC and the Northampton County New Jobs Corp assisted Flexicon in accessing a $2 million low-interest loan from the Pennsylvania Industrial Development Authority. Making the Lehigh Valley its home since 2001, the company produces flexible pneumatic and tubular conveyors, bulk bag discharge and filling frames, and related bulk material handling equipment for chemical, mineral, food, dairy, plastics and pharmaceutical industries. It is an excellent example of the type of high-quality manufacturing company that we want to stay and grow here in the Lehigh Valley.


The Follett Corporation, which has cornered the refrigeration market over the past 65 years, has been expanding by leaps and bounds. The Forks Township-based company, which manufacturers ice storage bins, refrigerators and freezers, has undertaken three major expansion projects in a span of three years.

Follett announced in November they are leasing 73,000 square feet of office and production space from J.G. Petrucci Co. in the Lehigh Valley Industrial Park IV in Hanover Township, Northampton County. That announcement came two years after the company’s 25,000-square-foot expansion and renovation of its existing 131,400-square-foot corporate headquarters and primary manufacturing site in Forks Township. Additionally, in 2013, Follett added 25,000 square feet of manufacturing space to its facility in Gdnask, Poland, which serves Europe and other international markets.

Founded in 1948, Follett’s formula for success has always included innovation when it comes to designing and manufacturing its products for the food service and health care industries. The company employs about 350 workers in the Lehigh Valley and has been continuously hiring. Its recent expansions have positioned Follett for future growth, placing it on the path for another 65 years of setting the standard for its industry.

Their products have sold in more than 100,000 locations throughout North America and internationally, earning praise from such celebrities as Jennifer Aniston, Demi Moore and Kim Kardashian. And they are made right here in the Lehigh Valley.

Bethlehem Township-based Straight Arrow Products, Inc. manufactures cosmetic beauty products for both people and horses alike. The company started in 1970 with the production of Mane ‘n Tail Conditioner, but eventually found the micro-enriched protein formula was just as effective for humans, so they entered the human hair-care market.

The company broke ground in October on a 15,000 square-foot expansion to its 92,000 square-foot manufacturing plant in Forks Township, a project that will create 30 new jobs and retain 72 current employees. That move will allow Straight Arrow Products to move most of its production facility and eventually its shipping warehouse to the facility, while still maintaining a warehouse facility in Bethlehem Township.

LVEDC helped the company procure Pennsylvania Industrial Development Authority financing for the project, which is expected to be completed by the fall of 2015. Straight Arrow Products has come a long way in 35 years, starting as a family business out of the home of Philip and Bonnie Katzev and growing into a nationally-known company. Additional growth is anticipated, as future construction phases will bring the Forks Township site to 200,000 square-feet within 5 to 10 years.


Annexair, a Canadian firm that designs and manufactures high-quality, energy-efficient air handling systems, established operations in Allentown in 2014. The new 25,000 square-foot facility will serve as a service, maintenance, distribution and training center, as well as a showroom for the company’s products. Annexair creates HVAC, energy recovery and high-efficiency geothermal systems for commercial, institutional and industrial clients, and has installed more than 60,000 ventilation units throughout the United States.

The first quarter of 2014 marked the completion of a major Lehigh Valley economic development project, as Bimbo Bakeries finished construction of a $75 million facility in Upper Macungie Township, which employs about 150 people. The 240,000 square-foot plant, located on 30 acres on Boulder Drive, is capable of producing 190 loaves of bread and about 175 eight-packs of buns every 60 seconds, with an efficient use of energy thanks in part to its 170 strategically-placed windows.

The Bug Company raises crickets, mealworms, fruit flies and other insects for pet stores, zoos, museums and universities to feed to their lizards, birds and other insect-consuming animals. With existing locations in Minnesota and Virginia, the Bug Company acquired the 47,500-square-foot former Lower Saucon Valley Elementary School in Hellertown to serve as its East Coast location. A leading supplier of feeder insects, its clients include PetSmart, Pet Valu, Wild Birds Unlimited, Pet Supplies Plus and The Smithsonian.

Cenduit, a provider of clinical trial management services for the pharmaceutical, biotech and medical device industries, has established a new office this summer in Two City Center, the 11-story office and retail building developed by City Center Lehigh Valley in Allentown. The move brought 40 jobs to the city and will allow the company to expand its local office at a rate of about 15 percent a year. The company has leased 13,500 square feet on the sixth floor, which can support up to 70 workers.

As part of a series of expansions across the nation, CSTK, a distributor of transportation, construction and communications equipment, began construction in 2014 on a 21,000 square-foot facility at the Lehigh Valley Industrial Park VII in Bethlehem. A J.G. Petrucci project, this facility will include eight service bays and be used for the company’s diverse lineup of products, including its primary line of Thermo King transport temperature control equipment, as well as trailer repair, after-market parts and repair/installation services.

Celebrating its 125th anniversary this year, Kuehne + Nagel, Inc. is one of the world’s largest logistics companies, with key business activities built on world-class seafreight, airfreight, overland and contract logistics capabilities. The company has more than 120 offices and distribution centers across the United States with over 6,000 employees, as well as dozens of offices in Europe, Africa, Asia Pacific and the Middle East. Kuehne + Nagel has now established a presence in the Lehigh Valley as well, moving into a 228,000 square-foot warehouse facility in Bethlehem, creating 40 jobs.

FEATURED SUCCESS STORIES


In one of several examples of Lehigh Valley’s international recruitment, Mountain Warehouse, a London-based outdoor retailer of clothing and equipment for camping, skiing, cycling and other outdoor activities, established a presence in Bethlehem in 2014, creating 60 new jobs. Mountain Warehouse has leased a 50,000 square-foot facility on City Line Road for the distribution of its many high-quality products, including footwear, rucksacks, jackets, fleeces, snow boots, tents, sleeping bags and more. The company’s nearest store is located in the Philadelphia Premium Outlets, just east of Pottstown.

City Center Lehigh Valley Founder and CEO J.B. Reilly once called National Penn “the bank of Allentown’s revitalization.” It had been the lead lender for many of downtown Allentown’s projects, including the PPL Center hockey arena, Renaissance Allentown Hotel, LVHN-One City Center and the Alvin H. Butz Inc. headquarters expansion. In 2014, National Penn moved right into the heart of the revitalization it has helped make possible, moving its 275 employees into five floors of the 11-story office and retail building Two City Center.

After nearly two years of construction and development, Ocean Spray opened the doors in 2014 to its new $110 million, 300,000-square-foot facility in Upper Macungie Township. The world-class plant employs 180 people and bottles Ocean Spray juices, as well as Nestle’s Juicy Juice products, and is estimated to produce about 32 million cases of product annually. The number one cranberry juice and cranberry foods maker in the world, which realizes annual sales of $2 billion in the United States alone, chose the Lehigh Valley in part due to its competitive taxes, utilities and transportation costs.

SimTek Fence, a Utah-based fence manufacturer, creates residential and commercial molded-fence panels that resemble stone walls. After seeking a distribution site for the Northeast, Simtek settled on Easton based on the Lehigh Valley’s prime geographic location, labor force, low cost of doing business, and assistance from regional economic development partners. The company’s products are carried by the home improvement chains Home Depot and Menards, and the Easton facility will be able to deliver to more than 400 Home Depot locations in the eastern United States.

The next time you take in a movie, you may catch a glimpse of the products made by Smooth-On Inc., a manufacturer of mold-making and casting materials used as special effects products by the film industry. Smooth-On moved from its Easton facility into a 358,000 square-foot site in Lower Macungie Township, which will serve as its headquarters and manufacturing center, boasting about 135 employees. Smooth-On’s special effects products have appeared in such film franchises as Star Wars, Star Trek, Jurassic Park, Harry Potter, James Bond and The Matrix.


National Magnetics Group Inc.In October, National Magnetics Group Inc. completed an expansion to their 50,000-square-foot Bethlehem facility, adding another 30,000 square-feet of manufacturing and warehouse space.

That $2.2 million project was funded in part by a $1.1 million PIDA loan, which LVEDC helped the company obtain. By having access to this low-interest loan, National Magnetics had the necessary capital to acquire the New Jersey-based Ceramic Magnetics, one of three companies it has purchased in the past year-and-a-half.

Between the construction project and the Ceramic Magnetics move, National Magnetics will have added 65 jobs to its Bethlehem facility by the time the expansion is compete. They will also be a stronger, more capable and diverse company better prepared for the next several years, according to company officials.

National Magnetics manufactures ferrites, garnets, magnets, dielectrics and material for thermal barrier coatings for 250 customers in the aerospace, automotive, defense, telecommunications, semiconductor and medical industries.

LVEDC is proud to work with a variety of organizations that share our mission – to administer important financing programs that provide much-needed capital for companies looking to relocate, expand or start in our region. LVEDC has one of the most extensive and comprehensive economic development financing divisions in the Commonwealth of Pennsylvania.

Almost since its creation, LVEDC’s Finance Division has worked with Lehigh’s Economic Advancement Project, a nonprofit incorporated in 1961. The Certified Area Loan Organization administers many of the Pennsylvania economic development financing programs in Lehigh County. LEAP is the conduit for all Pennsylvania Industrial Development Authority (PIDA) and Small Business First (SBF) loans made within Lehigh County.

Heading east to Northampton County, LVEDC works closely with Northampton County New Jobs Corp, a nonprofit incorporated in 1963. This group works in a similar manner to LEAP by administering most of the Commonwealth’s economic development financing programs available in Northampton County, including PIDA and the SBF programs.

LVEDC also works extensively with the Lehigh County Industrial Development Authority. Established in 1967, LCIDA is a conduit issuer of tax-exempt financing for charitable 501(c)(3) corporations and manufacturing companies, and also administers Tax Increment Financing in Lehigh County.

LVEDC, as part of its mission to provide shared services, offers staffing to support these and other local economic development organizations. In 2014, LVEDC began providing similar services to the Northampton County Industrial Development Authority, on of the most active IDAs in the Commonwealth.

LVEDC provided access to $17.1 million in financing during 2014, with project costs totaling $39.7 million. The 16 loans that were written in 2014 created 261 jobs and retained 820 more. Additionally, another 12 loans (totaling $15.1 million) that were approved in previous years were closed in 2014, with project costs totaling $134.4 million. Those loans created 1,138 jobs and retained 847 more.

We’ve already mentioned LVEDC’s involvement with such companies as Flexicon and Follett Corporation. Here are more financial success stories.

LVEDC provided access to $17.1 million in loans during

2014

FINANCING PROJECTS


Ecotech Marine

Ecotech Marine has set new industry standards for reef aquarium equipment, designing and making cutting-edge products with elegant designs and technology tested and endorsed by marine biologists. This unique company makes such aquarium products as pumps, LED lighting, lenses, hanging kits, battery packs, kits to customize hard and soft coral, and a wireless system that allows a real-time video connection with the aquarium.

With locations in both Bethlehem and Hanover Township, Lehigh County, Ecotech Marine closed on a $403,500 low-interest loan in 2014 through the Machinery and Equipment Loan Fund, which LVEDC helped prepare. That loan allowed the company to begin assembling its own circuit boards for its products, which it previously had to outsource overseas. Doing this in-house has allowed the company to reduce its costs in this area by as much as 55 percent.

Lehigh Valley TechnologiesAn Allentown-based pharmaceutical manufacturing company will be expanding and creating jobs this year, thanks in part to a $2.25 million PIDA loan LVEDC helped secure for them. Lehigh Valley Technologies, Inc. is purchasing a 39,000 square-foot building at 700 North Fenwick Street, which will allow the company to expand its current operations, increasing mass production of its existing products as well as significantly increasing its product line.

Lehigh Valley Technologies researches, develops and sells prescription drugs, oral solutions and solid dose products. They have wholesale and retail customers throughout the country, including Rite Aid Pharmacy, Walgreens, CVS Pharmacy, AmerisourceBergen and Cardinal Health. This expansion project will create 52 new full-time jobs within the next three years, in addition to the 36 full-time workers currently employed. The new facility is expected to be fully operational by early 2016.

Morgan Hill Senior LivingBy the end of the spring, Morgan Hill Senior Living will have completed a new personal memory care facility for patients who need more specialized care. Funded in part by $1.89 million in SBA 504 funding that LVEDC helped facilitate, the standalone sister facility is being built next to the existing Abington Manor at Morgan Hill in Williams Township. It will accommodate 40 residents, as well as complement services at the main facility and provide a natural progression for patients between the two.

The financing will go toward the acquisition of the 27,537 square-foot building and its conversion into a 32-room facility. The project is expected to create 30 jobs and will provide for additional administrative and cost efficiencies through the sharing of services and staff.

Penn Sheet MetalPenn Sheet Metal had long leased a facility in Lower Macungie Township for all its operations, but had been reluctant to add space or make improvements to the site because they did not own it. Now, the sheet metal products manufacturing company has purchased the site and is undertaking an expansion project thanks in part to a $975,000 PIDA loan it received through LVEDC.

The project will expand the building’s square footage from 27,400 to 35,400 and position the company to reach new market segments, incrementally increasing the volume of business over the next three years. It will also create eight new jobs and allow for the retention of 20 current positions. Penn Sheet Metal caters to industrial, commercial and medical clients throughout the Lehigh Valley and tri-state area. The expansion project also allows it to pursue the ornamental railing and stairs fabrication market to greater effect.

Innovative Control SystemsInnovative Control Systems decided to expand their operations in Northampton County, and LVEDC was there to help. Thanks in part to $550,000 in PIDA capital, the manufacturer of system control and point-of-sale equipment for the automated car wash industry is relocating its manufacturing and warehouse operations into a new 19,000 square-foot facility in Palmer Township.

The equipment manufactured there will be used to support car wash operations both domestically and internationally.Innovative Control Systems is based in Bushkill Township and will continue to have offices and related spaces at its existing 25,000 square-foot facility there. The company created 17 jobs since the beginning of 2014 in anticipation of this expansion.


After years of anticipation and months of construction, the PPL Center hockey arena opened its doors for the first time in September. The Lehigh Valley Phantoms made their season debut, the Eagles performed the venue’s inaugural concert, and Chickie’s and Pete’s served its first basket of crab fries to arena visitors.

But there was much more going on downtown besides the arena. 2014 also marked the year that City Center Lehigh Valley’s more than $400 million in planned development began to come to fruition, thanks to Allentown’s Neighborhood Improvement Zone tax district. Two of its multi-story Class A office towers opened for the first time, residents are preparing to move into its new luxury apartments, entrepreneurs have moved downtown to City Center’s co-working space Velocity, and new restaurants have helped bring foot traffic to the city’s rejuvenated night life.

“This was a year of explosive growth for City Center and downtown Allentown, and I couldn’t be more pleased with our progress in revitalizing downtown Allentown,” City Center Founder and CEO J.B. Reilly said.

Two City Center became the first City Center office complex to open in March, directly across from the PPL Center at 645 Hamilton Street. The 11-story building was already fully leased out before it officially came online, and it became the new headquarters for anchor tenant National Penn Bank, which occupies its top five floors.

ALLENTOWN


A few months later, Lehigh Valley Health Network opened its sports medicine and fitness destination at One City Center, the seven-story office building attached to the hockey arena. Occupying five floors, the state-of-the-art center includes a sports performance program, a concussion and head trauma program, a virtual sports simulator, an anti-gravity treadmill and rehabilitation services.

Construction began in May at Three City Center, a seven-story office tower being built at the site of the former Colonial Theater, which was demolished in 2005 and had been a significant development challenge for the city. Other future projects were announced in 2014, including an office building at the former site of the Gallery on the Mall and a 15-story office, parking and residential complex that will span the whole block of Walnut Street between Seventh and Eighth streets.

Residents are already clamoring to live among the excitement of Allentown’s revitalization. Construction began in 2014 on STRATA Luxury Flats at Four City Center, which offers 170 studio, one-bedroom and two-bedroom flats directly across from the hockey arena. That puts residents within walking distance of Allentown’s multiple new restaurants, which includes The Hamilton Kitchen and Bar, Shula’s Steak House at STRATA, The Dime, Chickie’s and Pete’s, Tony Luke’s Cheesesteaks, the Roar Social House, Crust and Tim Hortons.

The excitement in downtown Allentown has already continued into 2015. Renaissance Allentown Hotel, a seven-floor, 170-room hotel attached to the arena, opened its doors in January, marking the city’s first new hotel in 35 years. One of Marriott’s most luxurious brands, there are only 79 Renaissance Hotels in the nation, and Allentown now joins the ranks of international cities that have one, such as London, Paris, Barcelona, Beijing, Shanghai, Moscow, Dublin and Naples.

“The NIZ has been a tremendous catalyst in the rejuvenation of downtown Allentown, which will ultimately benefit the entire Lehigh Valley,” said Don Cunningham, LVEDC president and CEO. “When the urban core of the largest municipality is on the decline, it affects the whole region. This kind of growth is the rising tide that lifts all boats, and is sure to lead to job creation and improved quality-of-life throughout the Valley.”

The Lehigh Valley Land Recycling Initiative continues to resuscitate rusting Lehigh Valley industrial properties – making them foundations for our economic future, and 2014 proved to be another impactful and successful time for the initiative.

LVLRI secured a $468,000 Pennsylvania Department of Environmental Protection grant for environmental work to help continue improving the health of the Lehigh River and continue the work needed to develop a new Allentown waterfront and create jobs in the future.

The initiative also completed Phase II assessment and cleanup planning at the Allentown Metal Works site in South Allentown, assisting the Allentown Economic Development Corporation (AEDC) as they endeavor to re-industrialize and invigorate Allentown’s industrial and manufacturing corridor.

Additionally, LVLRI began environmental assessment work at the long-time Lehigh Valley development priority Black Diamond Silk Mill site in Easton to help begin the revitalization process.

In 2014, the initiative worked to help redevelop brownfields across all 62 municipalities with three Phase I Assessments, five Phase II assessments, a cleanup plan and a redevelopment plan – all issued to help further prepare brownfield sites for development.

LVLRI also hosted an EPA grant seminar at the Sands Casino Resort Bethlehem focused on helping communities across Pennsylvania discover and learn about the LVLRI model for EPA grant awardee success.


Federal Reserve President Visits Lehigh ValleyMaking a rare appearance in the Lehigh Valley, Federal Reserve Bank of Philadelphia President and CEO Charles I. Plosser shared his views on the economy and monetary policy during the October 16 presentation at Allentown’s PPL Center, an event coordinated by LVEDC and the Lehigh Valley Partnership. Before a crowd of about 130 executives, local business leaders and dignitaries, Dr. Plosser expressed optimism about the economic prospects ahead and explained why he dissented from his colleagues with his position that interest rates should be increased at a faster rate than the central bank has indicated. The event drew national media attention, including such outlets as the Wall Street Journal, NASDAQ, Bloomberg and Reuters.

FEATURED EVENTS

Economic Development Study UnveiledFebruary 2014 marked the unveiling of a long-awaited study by Garner Economics, LLC, of Atlanta, Georgia, a nationally-recognized site selector and consultant, recommending economic development and marketing strategies for the Lehigh Valley. This insightful study, which measured 66 variables in probing the region’s strengths and weaknesses, serves as a blueprint for a new economic development strategy for LVEDC, and provides a reminder that a regional strategy is the best approach for successful economic development. More than 80 people attended the public release of the study at the ArtsQuest Center at SteelStacks in Bethlehem.


Brokers & DevelopersLVEDC and the Brokers & Developers Council hosted a number of events in 2014. One event focused on working with municipalities, where a panel of local experts discussing the inner workings of municipal processes and relationships with the development community. At another, the topic was foreign direct investment, with 11 global investment representatives from more than two dozen nations sharing their thoughts about Pennsylvania. With 6,000 foreign-owned businesses, Pennsylvania is one of the nation’s fastest growing exporters. Finally, a panel discussion at the newly revitalized Trifecta Technologies building in Allentown focused on adaptive reuse, discuss strategies to overcome roadblocks to redevelopment, remediate potential environmental issues, and identify resources available to make re-use projects successful.

Conversations & CocktailsThe Conversations & Cocktails series provides LVEDC investors a unique opportunity to have targeted interaction with members of the Lehigh Valley’s public and private sector in an intimate setting to discuss salient economic development issues. This year’s series included discussions with Representatives Charlie Dent and Matt Cartwright, State Senators Pat Browne and Lisa Boscola, and Bethlehem Mayor Robert Donchez, allowing for the discussion of such issues as downtown Allentown development, Bethlehem’s Community Revitalization and Improvement Zone (CRIZ) designation, and how the election of a new Pennsylvania governor will affect the Lehigh Valley.

How Women Entrepreneurs SucceedIn an event hosted by LVEDC’s Entrepreneurship Council of the Lehigh Valley, four female business leaders who achieved success founding or leading innovative companies gathered to discuss the challenge women entrepreneurs face in the often male-dominated business world. Speakers at the November 19 panel discussion included Dr. Katy Worrilow, founder of LifeAire Systems; Kristin Holmes, co-founder of Holmes Cunningham Engineering; Lindsay Watson, co-founder of FIA NYC, LLC; and Corinne Warnshuis, Executive Director of Girl Develop It. Among the topics discussed were stepping out of comfort zones, the importance of strong mentors, the gender gap in the tech industry, and both the challenges and risks of starting one’s own business.

State of the County AddressesLVEDC hosted State of the County addresses in 2014 from both Lehigh County Executive Tom Muller and Northampton County Executive John Brown. It marked the first such address for both executives since their elections the previous year. During his address at Coca-Cola Park in Allentown, Muller discussed the political climate between his administration and the Lehigh County Board of Commissioners, as well as the future of the Cedarbrook Nursing Home, and his plans to connect directly with residents in developing the county budget. Brown, who spoke at the Northampton Community College, discussed his desire to create efficiencies in county government, partner with county employees to find savings, and work with Lehigh County to realize further savings and reach regional approaches to issues.

Lehigh Valley Video LaunchLVEDC kicked off 2014 with the January premiere of its sensational new Lehigh Valley promotional video. During a one-hour unveiling event at the Cosmopolitan in Allentown, the region was introduced to the “Your Opportunity is Here” video, which showcases dozens of Lehigh Valley businesses, schools and medical facilities, as well as highlights the many recreational activities and scenic wonders this region has to offer. Sprinkled throughout are facts about Lehigh Valley, its great location, innovative industries and creative workforce.



(Approved in 2014)

Company Location Program Financing Amount

Total Project Cost

Jobs Created

Jobs Retained

Project Status

Nameek's Inc.* West Point, Pa. SBA $1,563,000 $3,800,000 25 17 ClosedFlexicon Corp. Bethlehem Twp. PIDA $2,000,000 $6,500,000 50 138 Approved

PA First $100,000 $230,000 Morgan Hill Senior Living, Inc.

Williams Twp. SBA 504 $1,890,175 $5,400,500 30 Approved

Penn Sheet Metal Upper Macungie PIDA $975,000 $1,985,235 8 20 ApprovedInnovative Control Systems

Palmer PIDA $550,000 $1,100,000 0 77 Approved

Dohl J. DiFebo* Upper Mt. Bethel SBF-First Industries Agriculture

$175,000 $350,000 1 Approved

Alvarez Orthodontics* Hanover PMBDA RLF $70,000 $1,305,000 5 13.5 Approved

Straight Arrow Forks PIDA $2,000,000 $4,000,000 30 72 Approved

MELF $2,300,000 $5,155,680

Follett Corp. Forks Township PIDA $1,950,000 $3,900,000 30 310 Approved

The Bug Company Lower Saucon PIDA $960,000 $1,600,000 41 0 Approved

PA First $100,000

JCGP $20,500

Sullivan Oil & Propane Bath SBFF $180,000 $360,000 4 9 Approved

HCSC, Inc. Upper Macungie PIDA $2,250,000 $4,000,000 38 162 Approved

$17,083,675.00 $39,686,415.00 261 820

(Closed in 2014)

Company Location Program Financing Amount

Total Project Cost

Jobs Created

Jobs Retained

Project Status

Boston Beer / Sam Adams

Upper Macungie IFIP $770,000 $1,581,000 0 250 Approved

Ecopax, LLC Forks PIDA $1,155,000 $2,310,000 0 53 ClosedHillwood Properties Weisenberg TIF $5,880,000 $114,422,220 1000 0 ClosedEstate Maintenance Inc. (EMI)

Lower Macungie SBA $674,000 $1,685,000 9 14 Closed

KADCO Ceramics Forks SBA $296,000 $740,000 3 10 ConvertedBoas Surgical South Whitehall SBA $494,000 $1,235,000 5 45 ClosedFollett Corp. Forks Township PIDA $1,775,990 $3,551,980 50 292 ClosedS & L Fasteners Telford SBA $312,000 $780,000 4 9 ClosedNational Magnetics Group

Bethlehem PIDA $1,106,500 $2,213,000 5 90 Approved

Lehigh Technologies Allentown PIDA $2,250,000 $5,032,683 52 36 ConvertedEcotech Marine Hanover Twp. MELF $403,500 $807,000 10 48 Approved

$15,116,990.00 $134,357,883.00 1,138 847

LVEDC FINANCING PROJECTS SUMMARY Below is an accounting of the projects LVEDC’s Finance Division helped support in 2014. LVEDC provided access to $17.1 million in financing during 2014, with project costs totaling $39.7 million. The 16 loans that were written in 2014 created 261 jobs and retained 820 more. Additionally, another 12 loans totaling $15.1 million approved in previous years were closed in 2014, with project costs totaling $134.4 million. Those loans created 1,138 jobs and retained 847 more.

*These loans also closed in 2014


0

50,000

100,000

150,000

200,000

250,000

$ 300,000

2012 2013 2014 (Projected) 2015 (Budgeted)

Internal External

Company Location Primary Function Project Type New Jobszulily Bethlehem Distribution New 1,200Ocean Spray Upper Macungie MFG New 180National Penn Bancshares Allentown Office New 275NFI Weisenberg Distribution New 132Curtiss Wright Bethlehem MFG New 95Walmart Bethlehem Distribution New 300Mondelez International Palmer Township Distribution New 100Flexicon Bethlehem Township Office/MFG Expansion 50Bimbo Upper Macungie MFG New 95Fuling Plastic USA Upper Macungie MFG New 75Simtek Easton Distribution New 10Annexair Hanover Township Distribution New 10Cenduit Allentown Office Expansion 30Smooth-On Lower Macungie Office/MFG Expansion 20-30Mountain Warehouse Bethlehem HQ/Distribution New 60Straight Arrow Products, Inc. Forks Township Beauty Products - Human

and AnimalExpansion 30

Follett Corp Forks Township Refrigeration Expansion 50Hillwood Investment Properties Weisenberg Infrastructure and Spec

BldgsNew 1000

The Bug Company of PA Lower Saucon Feeder Insect Bus. New 41Kuehne + Nagel Bethlehem Township Logistics Provider New 40CSTK Bethlehem Transportation Solutions New

2014 ATTRACTION/EXPANSION PROJECTSListed below are 21 projects completed in the Lehigh Valley in 2014, resulting in the creation of at least 3,800 jobs. The Lehigh Valley has been ranked the top-performing region for economic development in the Northeastern United States by Site Selection, one of the most widely-read national magazines that covers corporate real estate and economic development. The Lehigh Valley is one of only two regions of our size in the country to make Site Selection’s top 10 list of best-performing regions for seven consecutive years.

INCREASING EXTERNAL MARKETINGAt LVEDC, a key part of our function is to market the economic assets of the Lehigh Valley to corporate executives and site selectors. We’ve been

spending less of our marketing budget inside the Lehigh Valley market, and more on national conferences, trade shows, and in industry publications so we can effectively use our resources to reach companies looking to come here and grow here.

Over $450,000budgetedfor 2015

In 2015, LVEDC plans to attend more than a dozen national conferences and trade shows to tell captive audiences all the great reasons to do business in the Lehigh Valley.


2014 INCOME & EXPENSES

Hotel Tax Proceeds $ 1,164,589

Private Sector Contributions 379,963

Administrative Fees 326,035

Government Grants 27,000

Public Sector Contributions 155,000

Other Income 53,456

$ 2,106,043

Administrative

31%

Marketing

23%Economic

Development

29%

Financing

17%

Hotel Tax Proceeds

55%

Private Sector Contributions

18%

16%

Government Grants

1%

Public Sector Contributions

7%

OtherIncome

3%

Administrative Fees

Administrative

31%

Marketing

23%Economic

Development

29%

Financing

17%

Hotel Tax Proceeds

55%

Private Sector Contributions

18%

16%

Government Grants

1%

Public Sector Contributions

7%

OtherIncome

3%

Administrative Fees

2014 UNAUDITED REVENUE

2014 UNAUDITED EXPENSES

Administrative $ 667,637

Marketing 496,401

Economic Development 627,986

Financing 356,011

$ 2,148,036


Lea B. Glembot Vice President, Economic Development & Marketing

John KingsleyVice President, Finance

Matthew TuerkVice President, Administration & Investor Relations

Kim Edwards Director, Finance

Dawn FerranteDirector, Regional Competitiveness

Michael KellerDirector, Marketing

Andrew Kleiner Director, Redevelopment & External Affairs

Colin McEvoyDirector, Communications

Julie RuaneDirector, Accounting

Jennifer WeighknechtDirector, Credit Risk

Jaime Whalen Director, Regional Finance Programs

Jarrett WittDirector, Business Development

Misty BartholdAdministrative Assistant

John LamirandResearch Specialist

Kat SchneiderOffice Administrator

Stephanie WeanFinance Administrator

2014 LVEDC STAFF

Don Cunningham President & CEO


ChairmanTom GarrityManaging PartnerCompass Point Consulting

1st Vice ChairStephen C. KalamarVice President and Relationship ManagerTD Bank

2nd Vice ChairWilliam D. MichaleryaAssociate VP - Governmental RelationsLehigh University

TreasurerMichael J. GiglerSenior Vice PresidentTeam Leader / Senior Relationship ManagerWells Fargo Commercial Banking

SecretaryJane P. LongChair, Corporate, Business & Banking GroupFitzpatrick Lentz & Bubba, P.C.

Donald Bernhard – PPL

Anthony J. Biondi – Merchants Bank

Angie Brong – Air Products

Executive John A. Brown – County of Northampton

Donald Cunningham – Lehigh Valley Economic Development Corp.

Luke R. Cunningham – Bethlehem Economic Development Corp.

Mayor Robert Donchez – City of Bethlehem

Edward C. Dougherty – Lehigh Valley Health Network

Mark Erickson, Ph.D. – Northampton Community College

Becky Eshbach – UGI Utilities

Joel Fagerstrom – St. Luke’s University Health Network

Margaret “Peg” Ferraro – Northampton County Council

Bryon Grigsby, Ph.D. – Moravian College

Sally Handlon – Handlon Business Resources

Bruce Heugel – B. Braun

Andrew Hines – Lutron Electronics Co

T. Anthony Iannelli – Greater Lehigh Valley Chamber of Commerce

Mark Jobes – Lafayette Ambassador Bank

L. Charles Marcon – Lehigh Valley Partnership

Executive Tom Muller – County of Lehigh

John L. Nespoli – Sacred Heart Healthcare System

Mayor Sal Panto Jr. – City of Easton

Mayor Ed Pawlowski – City of Allentown

Marilyn Rettaliata – Special Events Tent & Party Rentals

Lisa Scheller – Lehigh County Board of Commissioners

Philip M. Schenkel – JLL

Michael Stershic – Discover Lehigh Valley

Seymour Traub – Allentown Economic Development Corp.

R. Scott Unger – Allentown Economic Development Corp.

2014 LVEDC OFFICERS

2014 BOARD OF DIRECTORS

LVEDC’s Business Outreach Program (BOP) made 62 site visits to businesses in the region in 2014. The BOP utilizes partners in economic development, the three cities and two counties to support business growth and expansion in the region.

GREEN KNIGHTSECONOMIC DEVELOPMENT CORPORATION

Acme Cryogenics B Braun of America Boyle Construction Concannon Miller Coordinated Health Systems D’Huy Engineering Griffin Land & Nurseries Haines & Kibblehouse Horwith Trucks IMKO Enterprises

Ironton Telephone Company JG Petrucci JHG Hotel Management JM Uliana & Associates Keystone Consulting Engineers Liberty Property Trust Mack Trucks Majestic Realty Merchants Bank of Bangor

Mericle Commercial Real Estate Services Moravian College New World Aviation OraSure Technologies Palram Americas PenTeleData QNB Corporation Quandel Construction Group Sacred Heart Healthcare System

Sands Bethworks Gaming Service Electric Skepton Construction St Luke’s University Health Network Superior Quartz Products TD Bank Univest Bank West Side Hammer Electric Zep

44 Business Capital AAA East Penn Action Coach Albarell Electric Allied Barton Security Services Allied Building Corporation Allied Personnel Service Alvin H Butz Apex Companies ARCO Design/Build Northeast Artefact Associated Builders & Contractors Baker Tilly BergerEpstein Associates Bernardon Haber Holloway Architects Blue Rock Construction Bohler Engineering Borton Lawson Boucher & James Broughal & Devito Buckl Architects Buckno Lisicky & Company Business & Community Financing Solutions Caruso Benefits Group Cedar Crest College Charles Chrin Companies City Center Lehigh Valley CocaCola Corporation Compass Point Computer Aid Conestoga Bank Constructure Management Continuous Financial Improvement Corporate Environments Crayola Daniels Cadillac Deiter BrothersDerby Industries

DesignPoint DME Alliance Dunn Twiggar Company EarthRes Group Eastern Time Easton Area Industrial Land Development Corporation Easton Coach Embassy Bank for the Lehigh Valley Emerald Realty Group Enterprise Systems Partners ESSA Bank & Trust Express Employment Professionals of Lehigh County Express Employment Professionals of Northampton County FastSigns Fedetz & Martin Associates First Niagara Bank Fishburn Realty Company Fitzpatrick Lentz & Bubba Florio Perrucci Steinhardt & Fader Follett Corporation Frederick Group Gelcor Realty Good Shepherd Rehabilitation Network Gorski Engineering Graybar Electric Handlon Business Resources Hanover Engineering Associates Hanover Township Lehigh County Hawley Realty HDR Engineering Highland Associates Highmark Blue Shield Hillwood Investment Properties hireVision Group HMK Insurance

Ike Holdings INTEGRITY Personnel J&J Luxury Transportation John Yurconic Agency Just Born Kelly Automotive Group Kistler O’Brien Fire Protection Kitchen Magic Klunk & Millan Advertising Knopf Automotive Lafayette College Langan Engineering & Environmental Lehigh Carbon Community College Lehigh Career & Technical Institute Lehigh County Authority Lehigh Valley Association Of Realtors Lehigh Valley Industrial Park Lehigh Valley Rail Management Lesavoy Butz & Seitz Management Recruiters of Bethlehem Manufacturer’s Resource Center Maser Consulting McMahon Associates McTish Kunkel & Associates Michael Baker Jr MKSD Architects Modernfold of Reading Mohr Management Resources Moonstone Environmental Morris Black & Sons MTS Ventures Nacci Printing NAI Summit Norris McLaughlin & Marcus Northampton Community College North Star Construction ManagementO’Brien’s Moving & Storage Offix

Ondra-Huyett Associates Originate Ventures Ott Consulting Pennoni Associates Penn State University Lehigh Valley Promus Financial Team Capital Bank Provident Bank Recreational Concepts Development Corporation Regan Levin Bloss Brown & Savchak Reimer Real Estate Rettew Associates SAGE DesignBuildSchlouch Scot Lubricants SmitHahn Company Somerset Properties Sperry Van Ness Imperial Realty Spillman Farmer Architects Stemie’s 1818 Tavern Stevens & Lee Susquehanna Bank Terraform Engineering The Garibaldi Group The Goddard School The Pidcock Company UGI Energy Services UltraPoly Corporation United Way of the Greater Lehigh Valley Veraxia Commercial Real Estate Solutions Vistacom Wacker Chemical Wells Fargo Advisors William Elek WindDrift Real Estate Associates Wind Gap Electric

2014 INVESTORS

2158 Avenue C, Suite 200 Bethlehem, PA 18017Phone: 610-266-6775 • Fax: 610-266-7623

www.lehighvalley.org

Our MissionThe mission of the Lehigh Valley Economic Development Corporation is to market the economic assets of the Lehigh Valley and to serve as a regional shared services and resource center to help businesses to come,grow and start here.

Our VisionOur vision is of a Lehigh Valley with a diverse economic base in our cities and counties that enable businesses to come here, start here and flourish here in order to create jobs and opportunities for all of our residents.

Our Priorities• Marketing Economic Assets• Coordinating a Prepared Workforce• Focusing on City and Urban Development• Serving as a Shared Services Center• Providing Access to Capital• Building our Resources and Engaging

Stakeholders

Lehigh ValleyCome here. Grow here. Start here.

©2015 Lehigh Valley Econom

ic Developm

ent Corporation. All R

ights Reserved. 03.15

LVEDC

Annual Report designed by M

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2014 ANNUAL REPORT · 2015-12-15 · 2014 ANNUAL REPORT CELEBRATING 20 YEARS OF HELPING BUSINESSES TO COME, GROW AND START HERE. 2 LVEDC ANNAL REPORT 2014 LVEDC CELEBRATES ... (IEDC)