Qualified Opportunity Zones in Lehigh Valley’s cities of Allentown, Bethlehem and Easton, Pennsylvania

Qualified opportunity zones present a tremendous opportunity for investment in the Lehigh Valley. The cities of Allentown, Bethlehem, and Easton each includes zones offering generous tax advantages that will deliver enormous benefits to private-sector investors and promising economic growth potential for the region’s communities.

These zones allow investors to defer taxes by reinvesting capital gains from an asset sale into a qualified opportunity fund during the 180-day period beginning on the date of the sale or exchange giving rise to the capital gain. To maximize the potential benefits, taxpayers must invest in a Qualified Opportunity Fund before December 31, 2019.

For more information about QOZs in the Lehigh Valley, contact Matthew Tuerk, LVEDC’s Vice President of Economic Development and Marketing, at [email protected]

 

Allentown Qualified Opportunity Zone outline

 

Allentown

QOZ Acerage: 2,064

QOZ Tax Parcels: 1,430

Properties in central business district, publicly-owned parking lot zoned for commercial use, and 20-acre industrial redevelopment opportunity

 

 

 

 

Bethlehem Qualified Opportunity Zone outline

 

Bethlehem

QOZ Acerage: 5,319

QOZ Tax Parcels: 814

Multiple opportunities including retail sites in thriving urban centers

 

 

 

 

 

Easton Qualified Opportunity Zone outline

 

Easton

QOZ Acerage: 1,364

QOZ Tax Parcels: 699

Multiple publicly-owned sites in central business district. Zoned for multi-family and commercial uses

 

 

 

 

 

Lehigh ValleyQuick Facts

By the Numbers
$40.1 Billion

Gross Domestic Product

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City Center Lehigh Valley
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11% of Labor Force
Employed in Manufacturing

By the Numbers
$3.65 Billion

Exports

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Air Products
By the Numbers
$62,489

Median Household Income

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PPL Electric Utilities
By the Numbers
26,000

New Jobs Created Over Past 5 Years

By the Numbers
669,899

Population

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Olympus
By the Numbers
345,260

Labor Force

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

By the Numbers
5,073

Technology Patents

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Mack Trucks
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UGI
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NFI
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14% of the total community college degrees awarded in PA

By the Numbers
$7.4 Billion

Manufacturing Contribution to GDP

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

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Seedcopa
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10,328 degrees awarded by colleges and universities

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Fuling
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81,000 employed in "Eds & Meds" sectors

By the Numbers
26.97%

Population between ages 18 and 34

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Workforce Board