LVEDC Thanks Its Investors for a Record-Breaking Year
By Colin McEvoy on March 15, 2019
The Lehigh Valley Economic Development Corporation (LVEDC) wants to make sure everyone knows how grateful we are to our investors for making 2018 the third consecutive year of record-breaking investment for our organization.
LVEDC received more than $665,000 in investment and sponsorships from private sector companies and organizations last year, making 2018 the single largest investment year in the organization’s 24-year history.
To show our appreciation, LVEDC has taken out full-page advertisements in regional newspapers thanking our investors and listing each of them individually by sector, with company logos included for the higher-level investors.
“Make no mistake: we could not have achieved the success we’ve experienced in recent years without the investment of the private sector,” said Don Cunningham, LVEDC President and CEO.
“We compete every day with markets much larger than our own to tell the story of the Lehigh Valley,” Cunningham said. “That is made possible by the commitment of our public and private partners and the forward-thinking and regionally-focused approach our community takes to economic development.”
For more information about becoming an investor with LVEDC, visit lehighvalley.org/invest or call 610-266-6775.
The full-page advertisement ran in Lehigh Valley Business on March 4 and in The Morning Call on March 7, and will run again in the latter newspaper on Sunday, March 24, according to LVEDC Director of Marketing Michael Keller.
The advertisements also acknowledge Lehigh and Northampton County, which are the two single largest investors to LVEDC, combining for a total of $155,000 in public investment.
In addition to the ads, as in previous years, LVEDC has taken out billboard space along Route 22 acknowledging investors who have contributed $5,000 or more, Keller said.
LVEDC has an annual operating budget of $2.8 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.
LVEDC added 18 new investors in 2018, who invested a combined $44,500 in the organization, according to Jaime Whalen, LVEDC Vice President of Administration and Investor Relations, and Chief of Staff.
“We are fortunate to have so many companies in the Lehigh Valley that understand the importance of investing in economic growth,” Whalen said. “We are deeply grateful to our private sector partners for their investment in the economic development of the Lehigh Valley.”
The mission of the LVEDC is to market the economic assets of the Lehigh Valley and to create partnerships to lead the recruitment, growth and retention of employers.
Visit here to see a full list of LVEDC’s investors, organized by industry.
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