The Lehigh Valley Economic Development Corp. (LVEDC) recently hired Garner Economics, an economic development strategy and location advisory firm, to develop an updated economic development action plan for the Lehigh Valley.
Garner Economics last updated the plan in 2017. It will conduct a detailed analysis to identify Lehigh Valley’s strengths and weaknesses then issue recommendations. The analysis will examine economic changes in the Lehigh Valley and global markets and how these changes will affect LVEDC’s future direction and strategic approaches.
“At LVEDC, we have always stressed the importance of knowing thyself,” LVEDC President and CEODon Cunningham said. “The regions that will succeed are the ones with the deepest understanding of its own strengths and weaknesses, and which have the economic intelligence needed to create external marketing and in-market strategies focused on high-quality growth and job creation.”
Garner distributed surveys to regional businesses and economic development stakeholders and held focus groups.
The surveys included questions about how friendly the region is for entrepreneurs and what innovative programs or initiatives exist that help enhance competitiveness. Nearly 150 surveys were returned, and data will be reported in aggregate.
Business and community leaders and commercial real estate brokers and developers participated in the focus groups and provided input on the area’s business climate.