LVEDC Newspaper Ads Thank Investors for a Record-Breaking Year
By Colin McEvoy on March 12, 2018
The Lehigh Valley Economic Development Corporation (LVEDC) experienced the single largest investment year in the organization’s 23-year history in 2017, and we’re making sure our investors know how appreciative we are.
LVEDC recently took out full-page advertisements in regional newspapers thanking the companies and organizations that invested more than $660,000 in support of regional economic growth.
“Make no mistake: the Lehigh Valley economy could never have experienced the levels of growth and success that we’ve seen in recent years without the investment of the region’s private sector, as well as our public sector partners,” said Don Cunningham, LVEDC President and CEO.
“We are fortunate to have so many companies in the Lehigh Valley that understand the importance of investing in economic growth, and we are deeply, deeply grateful to you all for your investment in the economic development of the Lehigh Valley,” Cunningham said.
LVEDC will also acknowledge and thank its investors during the 2018 LVEDC Annual Meeting, which will be held Wednesday, March 14, at Bethlehem’s ArtsQuest Center at SteelStacks.
The advertisement distinguishes LVEDC investors by sector, including finance and insurance, real estate, architectural and engineering services, manufacturing, construction, consulting services, and more.
It also includes Lehigh and Northampton County, which are the two single largest investors to LVEDC, combining for a total of $115,000 in public investment.
LVEDC has an annual operating budget of $2.7 million. While about half of that revenue comes from public sources, primarily hotel tax proceeds, the other half comes from private entities and earnings on economic development financing and administrative fees.
“This support makes it possible for our organization to implement the marketing, recruitment, and strategic initiatives that have allowed us to compete with markets much larger than our own,” said Jaime Whalen, LVEDC Vice President of Administration and Investor Relations.
LVEDC added 20 new investors in 2017, totaling more than $55,000, including five investors who came in at the $5,000 level or higher. Additionally, seven LVEDC investors increased their level of investment this year, including four who increased to the $5,000 level or above.
“Investment in the Lehigh Valley makes it possible for our community to grow, develop, and improve our quality of life,” Whalen said. “And I’m proud to say your investment is paying off: companies are coming to the Lehigh Valley and staying here, and we’re continuing to attract more and more outside publicity about the region.”
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