Construction expected to drive region’s economy

Growth.

Fueled by demand.

That's the mantra for 2016 in business in the Greater Lehigh Valley.

From transportation projects, hotels, shopping centers and commercial districts – land is in demand. It's why the region this year is headed for a steady rise in new construction, renovations and redevelopment of existing structures.

And it's a growth that spans across many industries and locales.

For example, downtown rebirths in the region are expected to continue to drive commercial and residential growth, including a trend toward upscale urban apartments. New restaurants and bars will mark the rapid and pervasive rise of a new food and entertainment culture shaping our cities.

With local governments working more collaboratively with businesses, the possibility of a seamless approach to redevelopment could drive even more commercial growth in 2016.

Strong transportation corridors throughout the Greater Lehigh Valley will create opportunities for companies to build new sites or relocate from other regions, increasing the Valley's international draw for firms around the world. E-commerce and the ability for consumers to order just about anything online will ramp up even further, which means more distribution centers are on the way.

Tourism is expected to flourish even further as lodging facilities and resorts in the Poconos continue to invest in upgrades, adding to the rise of year-round recreational opportunities.

Health care and manufacturing also shows strong signs of progress in 2016. Health care giants continue to acquire and merge with other organizations and are seeking expansions, including a new hospital in the Poconos.

A natural fit for the Greater Lehigh Valley, manufacturing will continue to expand, though growth is tempered by national and global pressures, including a lack of skilled workers and the slowdown of China's economy. Specifically, automotive, medical device and consumer product manufacturers are expected to continue their prosperity.

From the start of massive multimillion dollar projects – whether they be giant shopping centers in suburban communities, commercial districts along the Lehigh River or the reuse of abandoned sites in cities – construction, in all its forms, will continue to embody the strength of the local economy.

The new year is shaping up to provide a diverse, stable and solid economy for the Greater Lehigh Valley that's bound for more growth despite global challenges and economic uncertainties.

Source: LVB