BETHLEHEM, Pa. - Two businesses in Bethlehem are getting tax credits to the tune of $175,000 each.
Both Cantelmi E-Commerce, a family-owned hardware business celebrating its 100th anniversary, and Triple Net Investments LX LLC, which is building a manufacturing facility, won Enterprise Zone Tax Credits from the City of Bethlehem.
- Cantelmi E-Commerce and Triple Net Investments LX LLC are getting Enterprise Zone Tax Credits to the tune of $175,000 each
- It’s part of a program by the City of Bethlehem to facilitate economic development and renovate blighted properties
- In the past eight years, 18 awards totaling $5.2 million have been granted
Cantelmi E-Commerce will use the credit as part of $2 million they’re putting into an e-commerce facility in a parking lot behind Cantelmi’s Hardware, so they can compete with online retailers.
The other winner, Triple Net Investments LX LLC, is spending $6 million to build a 53,000 sq. ft. building at 1010 Harvard Ave. They are seeking manufacturing tenants and anticipate the project will lead to 50-60 full-time jobs.
In the past eight years, 18 awards have been granted, totaling $5.2 million. The money is intended to facilitate economic development and renovate blighted properties.
“The rewards we can provide through tax credits … advance and improve communities and ensure Pennsylvania remains the best place to live, work, and play.”Gov. Tom Wolf
“The rewards we can provide through tax credits … advance and improve communities and ensure Pennsylvania remains the best place to live, work, and play, ” said Gov. Tom Wolf.
Property owners, developers and companies interested in learning more about the program can contact the City of Bethlehem’s Department of Community & Economic Development.
There will be another opportunity to apply in 2023.