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Five Bethlehem Development Projects are Awarded a Total of $1.25 Million in Enterprise Zone Tax Credits Through the Neighborhood Assistance Program

Bethlehem, PA – 5 projects in the City of Bethlehem have received Enterprise Zone Tax Credits:

‚Äč- Goodman Building         $250k
  • - 1911 Spillman Dr.           $250k
  • - Bowery Farming             $250k
  • - Laros Lofts                     $250k
  • - 404 East 3rd St.              $250k
 
 
This adds up to a total of $1.25 million awarded to development projects in the City taking place in 2021-2022.  The City of Bethlehem’s Enterprise Zone helps to facilitate economic development and renovate blighted properties.  There have been 16 Enterprise Zone Tax Credit awards granted over the past 7 years to projects in the City totaling $4.8 million in tax credits.  This program has proven to provide value to the City, development community, and businesses looking to expand or relocate to the City.
 
“The Enterprise Zone Tax Credit Program has been key to driving investment in our City” said Alicia Miller Karner, Director of the City’s Dept. of Community and Economic Development.  “These are critical projects for the continued revitalization of Bethlehem, creating jobs, opportunities for small businesses to operate and places to live for countless residents of the city.  Without the Enterprise Zone tax credit program, we couldn’t make these projects work.”
 
The Governor’s Press Release regarding the awards can be found here.
 
“Communities from every corner of Pennsylvania will benefit from this funding – the result of public-private partnerships and cooperation,” said Governor Wolf. “We are pleased to continue supporting NAP applicants who are committed to advancing and improving communities by making thoughtful plans to address the issues impacting their neighborhoods. These projects make the state stronger as a whole and keep it the best place to live, work, and play.”
 
Mechanic Street Development Associates, LP is investing over $2.4 million in the 15,000 sq. ft. retail/commercial portion of the mixed use project at 404 East 3rd St.  The entire project is slated to be around $15 million.
 
Triple Net Investments II, LP is investing around $6 million to expand the existing 113,500 sq. ft. Cigars International facility at 1911 Spillman Drive.  This 100,000 sq. ft. expansion will allow the company to retain 200 employees.
 
Collaboration 3, LLC is investing around $10 million to renovate the Goodman Building at 30-32 East 3rd St.  This blighted structure, totaling over 18,000 sq. ft., will be renovated into a mixed-use building.
 
601 Broad Development Group, LP is investing over $35 million to renovate the deteriorating property at 601 East Broad St.  Over 70,000 sq. ft. of commercial space will be renovated and the rest of the building will be residential.
 
Bowery Farming, Inc. is investing over $30 million to fit out their 150,000 sq. ft. building at 1025 Feather Way.  This project will create at least 70 new full-time jobs.
 
Any property owner, developer, or company interested in learning more about the Enterprise Zone and other economic development programs are encouraged to contact the City of Bethlehem’s Dept. of Community and Economic Development.
 
Contact:
Asher Schiavone
Economic Development Coordinator
City of Bethlehem
Dept. of Community & Economic Development
10 East Church St.
Bethlehem, PA 18018
(610) 865-4347
ASchiavone@bethlehem-pa.gov