LVEDC: 2020 was the “Tale of Two Economies’ in the Lehigh Valley
Written by Victoria Scialfa on March 17, 2021
LVEDC: 2020 was the “Tale of Two Economies’ in the Lehigh Valley
By Hayden Mitman
March 17, 2021
The pandemic’s economic consequences continue to hit local businesses of all kinds. But a few sectors are showing growth.
The Lehigh Economic Development Corporation tracks business health in the region.
Don Cunningham, LVEDC’s president and chief executive officer, says the pandemic has dealt a significant blow to the local hospitality and entertainment industries.
But the economic diversity of the region has helped it handle the financial crisis.
“The strength of the Lehigh Valley economy is its balance, that not all of our eggs are in any one basket,” Cunningham says.
Even during the pandemic, he says, the region has seen growth in some industries, like healthcare, internet commerce and manufacturing.
“It really is a tale of two different economies in 2020 in the Lehigh Valley,” he says
Throughout the past year, companies have been flexible and have learned to adapt. There’s also light at the end of the tunnel, he says, as he expects local hospitality and entertainment industries to snap back by the end of this year.
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