How was Lehigh Valley Economic Development Corporation (LVEDC) formed?
LVEDC is a regional initiative formed by a group of business leaders who organized to mobilize private sector resources and respond to the needs of the regional community.

Formed in 1995, LVEDC was and continues to be the only regional economic development organization that markets the Lehigh Valley's identity regionally, nationally and internationally. Then and now, the community of the Lehigh Valley recognizes that a strong economy is good for business, residents and the region's quality of life. Over its 10-year history, LVEDC has merged with a number of independent economic entities and incorporated such functions. Today LVEDC is recognized as an effective, accredited regional economic development corporation.

What is the mission of LVEDC?
The Lehigh Valley Economic Development Corporation is a private, not-for-profit membership-based organization that promotes balanced regional economic development in Lehigh and Northampton Counties and includes the three Cities of Allentown, Bethlehem and Easton. Its mission is to promote and foster economic prosperity in the Lehigh Valley in order to create wealth for the community.

What are LVEDC's principal activities?
In the course of pursuing its mission, LVEDC performs several functions: marketing, business retention and attraction, land and site redevelopment, research, regional development and financing.

With all of these resources at one location, LVEDC serves as a single point of contact to companies and consultants as they make location/expansion decisions. This one-stop approach to economic development allows LVEDC to be the facilitator, helping clients gather information, make the appropriate contacts and answer the many questions facing decision makers as they look for the right building, property or site location.

What are the responsibilities of the Board and volunteers?
In step with the LVEDC functions of marketing, business retention and attraction, land and site redevelopment, research, regional development and financing, there are eight standing committees staffed by 200 volunteers from the membership who give of their time without compensation. The Executive Committee is responsible for volunteer management and oversight of the LVEDC operations. The Committee represents a cross-section of membership and has the responsibility to review and approve the budget, including all expenditures exceeding $2,500.

Also responsible for LVEDC management is the Board of Directors. Included on the board are County Executives from Northampton and Lehigh Counties, economic development directors from both counties and the Mayors from the Cities of Allentown, Bethlehem, and Easton as well as numerous other regional representatives. Board members are expected to serve as active members in good faith and in a manner reasonably believed to be in the best interest of the corporation and the population that it services.

Who is served by LVEDC?
The entire region is served by LVEDC. LVEDC was established as a regional marketing entity representing both Lehigh and Northampton Counties. Its mission is to promote and foster economic prosperity in the Lehigh Valley. This is accomplished primarily through business attraction, retention and expansion.

Objectives include the development of a growing tax base through smart, sustainable growth including the creation of a diverse economy that offers jobs with above-average salaries. One of the top LVEDC priorities is the revitalization of the Lehigh Valley's cities, creating healthy, vibrant urban centers, and the successful redevelopment of previously used industrial sites.

LVEDC also serves businesses by providing them with regional, economic and demographic information, finance and business incentives, site and facility availability, business networking and workforce services. In cooperation with the Commonwealth, county and municipal governments, chambers of commerce, educational institutions and utilities, LVEDC streamlines the relocation and expansion process for businesses. Services are provided at no cost to the company and with complete confidentiality.

Why is an organization like LVEDC important to the Lehigh Valley?
LVEDC can provide the region with balanced, smart economic growth. Attracting new businesses to the Lehigh Valley and retaining and encouraging growth of current businesses will improve the region's quality of life by providing quality job opportunities for our workforce.

By working to generate a larger and more stable tax base through land use and growth management, LVEDC is able to attract companies that provide family-sustaining jobs with above average salaries. By working to revitalize our region, LVEDC improves the quality of life and lifestyle of our community. Two of LVEDC's top priorities are the revitalization of the Lehigh Valley's cities and the successful redevelopment of previously used industrial sites.

Who works for LVEDC?
LVEDC is staffed by award-winning, professional economic developers. In total, the staff has more than 120 years of economic and community development experience, which ensures that inquiries are handled in a professional and timely manner.

How is LVEDC funded?
LVEDC is a private, not-for-profit, membership-supported organization that draws its members from all regions of the two-county area. Income for operations comes from a variety of sources. These sources are: Membership (); Convention & Visitors Bureau (HT) contract (25%); Administration fees (18%); Grants (31%); Private Funding (16%); Local Funding; Sponsorships (3%); Keystone Innovation Zone Participation (2%); and Interest (2%).

How are LVEDC expenditures allocated?
LVEDC expenses vary in any given year depending on the initiatives for that year. For example, 2006 expenditures are budgeted as follows: Marketing (32%); Finance (13%); Business Development (15%); Regional Development (12%); Administrative (8%); DCED Business Retention (8%); Keystone Innovation Zone (9%); and Lehigh Valley Land Recycling Initiative (3%). An additional summary of financial activity is prepared for government reporting through Form 990 and the audited financials and management letter.

Why does the Lehigh Valley Convention and Visitors Bureau support LVEDC?
The mission of the Lehigh Valley Convention and Visitors Bureau (LVCVB) is to develop and promote the combined resources of the Lehigh Valley as a travel destination and as a site for meetings, conventions and sporting events. LVCVB recognizes that business travel represents over 60% of hotel room nights. Because LVEDC's mission is to grow business in the Lehigh Valley, LVEDC helps the mission of LVCVB because as business grows, hotel rooms are filled, visitors see the Lehigh Valley and related businesses and services grow, forming a more marketable tourism destination.

What portion of the hotel tax does LVEDC receive?
LVEDC does not directly receive any hotel tax monies. Income to the Convention and Visitors Bureau from the hotel tax was a result of legislation passed by the state legislature. Under this law the Counties of Lehigh and Northampton are allowed to collect taxes on overnight stays in local hotels for which 2.7475% is to go to the Convention and Visitors Bureau. Under separate contract, LVEDC receives from the Convention and Visitors Bureau 36.4% of the 2.7475% of any given months revenues.

The Convention and Visitors Bureau entered into this agreement recognizing that business travel represents over 60% of hotel room nights. Growth of regional businesses encourages additional business trips to the Valley, raises the profile of the Valley and provides an expanded audience for tourism, promotion and attraction. Under the contract, LVEDC is to use those monies to further enhance the vitality of the Lehigh Valley through its business attraction and retention efforts.

What is LVEDC's role in picking sites for prospects?
LVEDC responds with the client's interest in mind and therefore the client drives the site selection process. Of course all of our services are free and confidential.

At the start of the site selection process, LVEDC provides real estate information and customized economic, business and socio-demographic information as requested by the company.

LVEDC maintains an extensive business real estate database that is continuously updated through contact with commercial and industrial realtors and the local government partners.

If company representatives choose to visit the Lehigh Valley, LVEDC will structure an itinerary to the client's needs including a community orientation and a review of appropriate sites and buildings.

How has Lehigh Valley economic development changed since the LVEDC was formed?
In response to the evolving site location and business expansion processes, LVEDC's activities have expanded in scope and comprise several programs that alleviate the government of its burden. LVEDC currently engages in administering and facilitating the following activities:

• the Commonwealth's Brownfield Redevelopment effort
• the Commonwealth's financing and business incentives
• the Commonwealth's Keystone Opportunity Zones and Enterprise Zone initiatives
• the Commonwealth's Team Pennsylvania Business Calling Program
• promotion of economic growth and development in the Lehigh Valley, including distressed communities in need of revitalization efforts

In addition, LVEDC administers the Lehigh Valley Land Recycling Initiative. This program works to transform the Lehigh Valley's underutilized and former industrial sites into safe, productive assets that can be used to contribute to the Lehigh Valley's economic growth. LVEDC administers state financing and business incentives to industries located in Keystone Opportunity Zones and Enterprise Zones and other businesses in the Lehigh Valley. Also, LVEDC interviews and maintains contact with hundreds of Lehigh Valley businesses to obtain statistical information regarding unemployment, employee satisfaction and business retention in Pennsylvania. This information is remitted to the Commonwealth of Pennsylvania.

What is the difference between LVEDC and the Greater Lehigh Valley Chamber of Commerce?
LVEDC was and continues to be the only regional economic development organization that markets the Lehigh Valley's identity regionally, nationally and internationally to entice and encourage company relocation and expansion. The Greater Lehigh Valley Chamber of Commerce advocates advancing business interest and supports business networking for more than 4000 businesses in our region. Both organizations work closely together in support of their respective missions.