Chamber key driver of area economy.doc

 

 

WHAT HAVE WE DONE FOR YOU LATELY? 

A Few Facts about the Economic Development

Work of the Greater Wilkes-Barre Chamber

 

 

 

 

·    More than 12,700 people are employed in the five business parks directly developed by the Chamber and affiliated organizations. The Chamber’s five business parks (Crestwood Industrial Park, Hanover Industrial Estates, Hanover Crossing, Corporate Center at East Mountain, and Highland Park) comprise approximately 2,637 acres and generate more than $8.7 million annually in county, municipal and school district tax revenues.

 

·    There are more than 18,000 people working today in jobs that can be traced to 210 different Chamber-assisted business location or expansion projects from 1985 to 2011. In 2011 alone, Chamber assisted projects resulted in the creation of 562 new jobs in the Wilkes-Barre area.

 

·    An economic impact report for the Innovation Center at Wilkes-Barre showed that, during 2010, the facility generated total estimated economic activity of $28.7 million. It accounted for an estimated 230 direct and indirect jobs and an estimated $3.1 million in direct and indirect federal, state and local tax revenues.

 

·    The Chamber has been a key community development partner through catalytic efforts such as Downtown Wilkes-Barre’s Elevation Lofts project. As a direct result of the Chamber’s actions, all of the downtown lofts were sold and are occupied today, bringing new residential activity to downtown Wilkes-Barre. The positive impact of the Chamber’s center-city investments goes far beyond what’s visible on downtown sidewalks. Today, the site of the University Corners project generates $250,000 a year more in annual real estate tax revenue than it did a decade ago – and as Keystone Opportunity Zone tax abatements continue to expire, even more dollars will be added.

 

·     During the past several years, the Chamber has led a consortium of regional institutions and organizations examining the feasibility of a collaborative approach to biomedical research in Northeastern Pennsylvania. Partnering colleges and universities are now bringing that study’s recommendations to fruition as part of the Regional Bioscience Initiative, a multi-phased strategy to increase the size and breadth of the region’s biomedical industry cluster.

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Fast Facts (PDF)

     


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