ALLENTOWN, Pa. – Don Cunningham, President and CEO of the Lehigh Valley Financial Improvement Company, says the area is in an “financial renaissance.”
“The Lehigh Valley is youthful, it is extra vibrant, extra various, rising in inhabitants and financial output,” Cunningham stated.
Cunningham says it’s certainly one of Pennsylvania’s quickest rising areas.
“Since 2010 Lehigh Valley’s inhabitants rose by 6.2 p.c,” he stated.
Jobs grew as effectively.
“The Lehigh Valley metro area attracted practically 12,000 jobs throughout all industries final 12 months, essentially the most jobs gained in a single calendar 12 months since at the least 1990,” Cunningham stated.
The LVEDC says it tracked over 50 main expansions or new improvement tasks final 12 months that created or retained greater than 5,000 jobs. And in a breakdown of jobs, well being care is on prime at 18.5 p.c, adopted by logistics and manufacturing.
Even because the inhabitants and jobs develop, Cunningham says the variety of staff within the workforce is down.
“The availability of expertise is the only most essential situation within the Lehigh Valley financial system,” Cunningham stated.
However he says that is additionally serving to to drive up wages.
This financial increase is anticipated to proceed in years to come back.