Back

LVEDC’s Strategic Plan: Understanding the Basics

By Colin McEvoy on October 21, 2014

What does the Lehigh Valley Economic Development Corporation stand for? What are its principles and values? And what are its goals moving forward?

This article is part of an ongoing weekly series detailing the LVEDC 2014-17 Strategic Plan. See below for information about the other stories:

PART ONE: Understanding the Basics
• PART TWO: Development Initiatives
PART THREE: Marketing Initiatives
• PART FOUR: Finance Initiatives
• PART FIVE: Administration Initiatives

Those are among the questions answered by the LVEDC 2014-2017 Strategic Plan, a comprehensive three-year strategy that was adopted by the organization’s board this summer.

The strategic plan outlines our mission, vision, values, principles, priorities and a set of 20 specific initiatives that the LVEDC will pursue over the next three years.

Those initiatives fall under four different categories: development, marketing, finance and administration/stakeholders. Here’s a link to the full strategic plan.

Over the upcoming weeks, we will be presenting a series of articles delving deeper into the initiatives within each of those four categories.

But for now, here is a quick guide to some of the basics from our strategic plan:

OUR MISSION: The mission of the LVEDC 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 VISION: Our vision is of a Lehigh Valley with a diverse economic base in healthy cities and strong suburbs that enable businesses to grow and flourish in order to create jobs and opportunities for all our residents.

OUR PRIORITIES:

  • Targeted industry marketing
  • Workforce preparedness
  • City and urban core revitalization
  • Access to capital
  • Shared services resource center
  • Enhancing resources
  • Build councils to engage

Visit the strategic plan itself to read about our values, principles and future initiatives.

The strategic plan was preceded by an in-depth Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis the LVEDC embarked upon last year, seeking in part to learn how the organization is viewed by its major customers, stakeholders and partners, and what they see as its core role.

The LVEDC also engaged Garner Economics, an Atlanta-based economic consultant, to review the organization’s operations, assess the Lehigh Valley’s economic strengths and weaknesses relative to other comparable regions, and to recommend improvements for a new economic development strategy.

The Garner Economics report served as a foundation for the development of the sets of initiatives defined by the strategic plan. Check out the LVEDC e-newsletter next week for the next installment in a series providing more specific detail about those initiatives.

Women Entrepreneurs Interviews: Kristin Holmes

Over a 12-year career in civil engineering, Kristin Holmes had been involved in the design and management of numerous residential, industrial and commercial projects, provid[...]

Continue to Next Page

Lehigh ValleyQuick Facts

By the Numbers
$41.2 Billion

2018 Gross Domestic Product

Investor Spotlight
City Center Lehigh Valley
Industry Spotlight

10.6% of Labor Force
Employed in Manufacturing

By the Numbers
$3.8 Billion

Exports in 2019

Investor Spotlight
Air Products
By the Numbers
$65,119

Median Household Income

Investor Spotlight
PPL Electric Utilities
By the Numbers
672,907

Population

Investor Spotlight
Olympus
By the Numbers
358,000

Labor Force

Investor Spotlight
Lutron Electronics
Industry Spotlight

26.1% of Labor Force
Employed in "Eds & Meds" sectors

By the Numbers
5,073

Technology Patents

Investor Spotlight
Mack Trucks
Investor Spotlight
UGI
Investor Spotlight
NFI
Industry Spotlight

14% of the total community college degrees awarded in PA

By the Numbers
$7.3 Billion

Manufacturing Contribution to GDP

Investor Spotlight
BB&T
Industry Spotlight

69th largest metropolitan area in the U.S. by population

Investor Spotlight
Seedcopa
Industry Spotlight

10,754 degrees awarded by Lehigh Valley colleges (2017-18 academic year)

Investor Spotlight
Fuling
Industry Spotlight

85,000 employed in "Eds & Meds" sectors

By the Numbers
149,000

Population between ages 18 and 34

Investor Spotlight
Workforce Board