The Lehigh Valley supports its businesses to help economic growth.
The Lehigh Valley Economic Development Corporation (LVEDC) administers more than a dozen federal, state and local financing programs. The organization matches owner-occupied manufacturing, industrial, commercial or retail businesses to funding resources for land acquisition and construction projects. Loans range from $100,000 to just over $5 million.
Machinery and Equipment
LVEDC works with manufacturing, agricultural, industrial, commercial and retail businesses to help them finance purchases of new or used machinery and office and support equipment. Loans start at $50,000 and can cover no more than 50 percent of eligible project costs.
Most small businesses across industries, including minority-owned businesses, are eligible to apply for a working capital loan. Loans, which can cover up to 75 percent of eligible project costs, can be used to finance general operations, including personnel and training costs.
Lehigh Valley Economy at a Glance
GDP: $34.3B Exports: $4.3B 31,600 new jobs created between 2004-2013 Percentage of the workforce with a bachelor’s degree or higher: 16% Home to two Fortune 500 firms More than 100,000 employed in health, education, financial and professional services More than 40,000 employed in manufacturing, transportation and warehousing.
Lehigh Valley GDP by sector
Finance, insurance, real estate, etc.: $4.93B Manufacturing: $4.77B Professional and business services: $4.72B Educational services and health care: $4.58B Retail trade: $2.11B Information: $1.78B Transportation and warehousing: $1.62B Arts, entertainment, food services, etc.: $1.32B Sources: The Lehigh Valley Economic Development Corporation, U.S. Bureau of Economic Analysis