The Lehigh Valley Economic Development Corp. (LVEDC) recently hosted representatives from three Irish Local Enterprise Offices (LEO).
LEOs are county-based agencies that provide advice, information, and support for business expansions and startups. The visitors also included members from the Sligo Chamber of Commerce & Industry, Great Visitor Experiences, and businesses.
“The similarities between the Lehigh Valley and these Irish regions make us very attractive to manufacturers and life sciences companies looking to break into the U.S. markets.,” Doug Warfel, LVEDC’s director of attraction and lending, said. “These are relationships that pave the way for foreign direct investment and economic development between our two countries.”
In the United States, Ireland is the ninth-largest source of foreign direct investment, totaling $269 billion in 2021.
The visitors discussed ways to build relationships that foster future foreign investment in the region. They also discussed each country’s approach to economic development.
In addition to the discussion, the visitors attended a dinner LVEDC sponsored, met with Bethlehem Mayor J. William Reynolds, and toured Factory LLC.
In the Lehigh Valley, more than 80 international companies from 23 countries have a presence. In 2022, international companies completed or announced about 2 million square feet of development and comprised approximately 40 percent of LVEDC’s economic development prospects.