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Bethlehem Economic Development Corporation (BEDCO)

The City of Bethlehem is steeped in rich tradition. We are a solid business and family oriented community that has thrived for over 200 years. Now, we're reinventing that tradition. With newfound energy, creativity and commitment, we're embarking on a bold new beginning for Bethlehem... On reclaimed industrial land, creative new ventures are taking shape. From the shadows of longstanding, historic buildings in the heart of the city, new businesses are coming to light. From the citizens and the business leaders of Bethlehem, new ideas are rising up to swell the tide of progress. A dynamic new composition to Bethlehem's growing business community can be seen on the streets, in the shops, and in the industrial parks. Behind these - and other - bold steps into the future, are people taking risks and moving ahead. We are daring to dream of a better place. Be a part of Bethlehem's new beginning. Come grow with us.

Our Mission is to be a catalyst for change by enhancing the economic and business climate in the Bethlehem community.

Our purpose is to:
Create new employment opportunities.
Retain and expand Bethlehem businesses.
Secure federal and state funding.
Revitalize urban areas.
Build public/private partnerships.

Several of our programs and services offered include:
Low-interest loans · Tax abatement programs · Enterprise zone incentives · Available property inventory · Liaison between businesses, community and City Officials.

To find testament to our efforts and its partners, one need only drive through the streets of Bethlehem. Look at the activity. See the pride we are taking in our city. Evidence of our involvement is there in the new store-fronts, the restored buildings and the growing businesses.

CAN BEDCO HELP YOUR COMPANY?
BEDCO Loan Pool - Sub prime interest rate financing for businesses looking to locate, expand or remain in Bethlehem. May be used for new construction, property acquisition, building renovation or rehabilitation, and purchase of machinery and equipment.

Fund for Revitalization & Economic Development (FRED) - Low interest rate "gap" financing to firms that will create and/or retain employment opportunities for low to moderate -income residents or remove slum and blight in Bethlehem.

Local Economic Revitalization Tax Assistance (LERTA) - Property tax abatement program that creates a graduated increase in the payment of taxes on improvements and new construction to commercial, industrial and other business property located within Bethlehem's state- designated Enterprise Zone and Northside Central Business District.

Facade Program - No interest 15-year loan for the purpose of improving facades and restoring storefronts of businesses in the Northside and Southside Central Business Districts.

Enterprise Zone Incentives - A certain district targeted by the Pennsylvania Department of Community & Economic Development to encourage private investment and promote job growth and economic development is known as an Enterprise Zone. The Department authorizes tax credits against certain specified Pennsylvania taxes to private companies that make qualified investments to promote economic development by rehabilitating, expanding or improving buildings or land in an Enterprise Zone.

State loans - Available for property and building acquisition, renovation and machinery and equipment purchase carry an interest rate of 3.75% for businesses located within the Enterprise Zone.

Site Location Assistance - BEDCO has an inventory of available land and buildings within the City of Bethlehem. Technical Assistance BEDCO can act as a liaison between the business community and federal, state and city officials regarding available financing for projects and other related development matters.

WHY BETHLEHEM_
The following characteristics make Bethlehem an ideal choice for business to locate and expand: Historic and vibrant city centers. Skilled labor pool. Access to major highways, linking the Lehigh Valley to the north, south, east and west. Railway connections. Respected school system and institutes of higher education. High-quality hospitals and health care. Well-developed and efficient infrastructure. Affordable and convenient utilities, water and sewer. Safe, comfortable, well planned communities.