UPPER MACUNGIE TWP., Pa. — There was Tony Iannelli looking resplendent in a pink suit better suited for a Pepto-Bismol commercial or a role in a “Barbie” movie sequel.
“My wife said I looked good in this suit this morning, so I wore it,” said Iannelli, chief executive officer of the Greater Lehigh Valley Chamber of Commerce, Tuesday.
Based on data imparted at the Lehigh Valley Real Estate Development Outlook luncheon at Delta Hotels by Marriott, Iannelli wore the color of the moment:
The Lehigh Valley is in the pink.
The event attracted more than 500 real estate developers, engineering and maintenance firms and executives.
“We’ve ranked consistently in the Top 10 for site selections. But the days of playing second fiddle are over."George Lewis, Lehigh Valley Economic Development Council special assistant
What they heard from main speakers George Lewis, Lehigh Valley Economic Development Council special assistant, and Becky A. Bradley, executive director of Lehigh Valley Planning Commission, was a healthy economic present and future for the Lehigh Valley.
“The region is growing and creating economic opportunities for sustaining the quality of life for the Lehigh Valley we call home,” Lewis said.
Lewis recounted recently released data showing that in 2023, the Lehigh Valley ranked No. 1 in the country in economic development projects compared to similarly sized regions.
“We’ve ranked consistently in the Top 10 for site selections,” he said. “But the days of playing second fiddle are over.
"We compete with regions across the country … and in the South and Southwest. We’ve shown the sunbelt has no monopoly on growth.”
'Valley cuts against the grain'
Lewis detailed other positives throughout the Lehigh Valley:
- Private sector output: $50.2 billion, ranking 68th nationally.
- Median income: $78,200.
- Net gain of manufacturing jobs in the past 10 years: 7,000.
The strength of the Lehigh Valley’s manufacturing sector, Lewis said, is reflected in it accounting for 16% of the valley’s economic output, outpacing the national rate of 12%.
“Lehigh Valley cuts against the grain,” he said.
"The bottom line is this: Manufacturers want to be in the Lehigh Valley."George Lewis, LVEDC
Lewis said that over the past 25 years, the Lehigh Valley has reshaped and diversified its economy.
He noted the variety of products produced here: medical devices, trucks and heavy equipment, food, beverages, pet food, electronics and semiconductors.
“One third of the U.S. population lives within a one-day drive of the Lehigh Valley,” Lewis said. “There is a 1.7 million labor force within an hour’s drive of the Lehigh Valley.
“The bottom line is this: Manufacturers want to be in the Lehigh Valley.”
Bradley outlined a host of positives, including increased land development and securing new sources of funding.
Bradley celebrated $557 million to be invested to improve transportation 2025 to 2028.
Rail travel, traffic infrastructure, housing
Bradley also referred to the Lehigh Valley Passenger Rail Feasibility Study released last week.
“It’s a good look at what it will take to restore passenger rail service to the Lehigh Valley,” she said. “Formal discussion of the report will take place on May 15.”
Another project Bradley discussed was the Lehigh Valley Green Transportation Infrastructure Study Project.
The LVPC has applied for a $115 million grant that, if approved, would be used to transform 99 acres along the Route 22 and Route 33 corridor.
“The housing shortage in 2023 has priced people out of their own neighborhoods. This year and next, we’re partnering with the Federal Reserve Board and the Urban Land Initiative to develop a housing business plan.”Lehigh Valley Planning Commission Executive Director Becky Bradley
“We’ll create microforests and meadows there,” she said. “Imagine all that running the length of Route 33.
“It would also reduce over 10 million tons of carbon dioxide by 2023; this is where the Lehigh Valley has the highest level of air pollution.”
Bradley also addressed the ongoing affordable housing crisis throughout the Lehigh Valley.
“The housing shortage in 2023 has priced people out of their own neighborhoods,” she said.
“This year and next, we’re partnering with the Federal Reserve Board and the Urban Land Initiative to develop a housing business plan.”
Panel discussion
Also Tuesday, Iannelli moderated a panel discussion — “Business Matters Live! What’s Trending in Valley Development.”
On the panel were Mark Mulligan, chief executive officer of VM Development Group in Easton; John Callahan, director of development at Peron Development, Bethlehem; and Nicholas Dye, managing member of D&D Realty Group, of Scranton.
Dye’s firm in March made a $9 million offer to buy Allentown’s iconic PPL Tower. Plans are to transform the building into luxury apartments and attract commercial tenants.
The Public Utilities Commission must first approve the transaction.
Also Tuesday, Optima Durant Group received the 2024 Commercial Real Estate Development Award for The Commodore in Easton.
The mixed-use development has 38 luxury residential properties, real estate space and a rooftop restaurant.
