Things to remember before setting up your business in Allentown, PA
Allentown, PA is a city in Northampton County, Pennsylvania. Located along the Lehigh River, Allentown was named after William Allen, who owned property here in 1717. The first public schools in the area were established in 1818. Today, Allentown is home to a thriving retail district and a large manufacturing base. The city has an economy anchored by the Lehigh Valley International Airport, which is located within the city limits.
The economy of Allentown is driven primarily by the manufacturing sector. According to the 2016 census, the employment rate in Allentown was 10.6% greater than the state average. Of the jobs in Allentown, 6.7% were in manufacturing. This was higher than the state average of 4.4%.
The median household income in Allentown was $59,871, which was higher than the state average of $55,091. Additionally, the median value of owner-occupied housing units in Allentown was $123,900, which was above the national average of $100,700. Allentown has a relatively high cost of living, so this means that the cost of living is generally higher than the national average.
There are several reasons that Allentown is a good location to set up your business. For starters, Allentown has a diverse industrial base. There are over 400 different manufacturing establishments in the city, and nearly half of the jobs in the city involve the manufacturing sector. The city also has a relatively high concentration of commercial and industrial space. This makes it easier for new businesses to set up shop.
Additionally, Allentown has a highly educated workforce. Nearly 30% of the people in the city have a college degree. This is much higher than the state average of 19.2%, which indicates that there are a lot of people in the area that are educated and have the ability to work in a wide variety of fields.
Allentown is also a fairly stable community. While the unemployment rate in the city was 5.1% in the third quarter of 2017, this was slightly lower than the state average of 6.3%. The population of the city has been growing for the past few years, which indicates that the city is stable and has a high population growth rate.
Lastly, Allentown is a reasonably affordable location. The average home in the city costs around $130,000, which is below the national average of $168,000. Additionally, the cost of living in Allentown is cheaper than the national average. The cost of living in the city is roughly 12.9% lower than the national average.
Why Allentown, PA is a great place to start your business
Allentown, Pennsylvania is a historic city that`s become increasingly popular in recent years due to its thriving arts scene and small business climate. And the town has made great strides in becoming a more welcoming place for startups, according to The Morning Call, a local newspaper.
The paper recently released a list of reasons why Allentown is the perfect place to start your business, including:
1. A Business-Friendly Workforce
Allentown has a workforce that`s friendly to new business owners, with a jobless rate of just 2.7 percent, according to the U.S. Bureau of Labor Statistics. This number is lower than the 3.9 percent unemployment rate for the U.S. overall. In addition, the average wage in Allentown is $30.80 per hour, compared to the nationwide average of $23.16.
2. An Inclusive Arts Scene
Allentown boasts more than 50 nonprofit organizations dedicated to helping young artists hone their craft. Some of these include the Creative Center, which provides a space for artists to work, the Allentown Art Museum, and the Allentown Art League, which sponsors workshops and networking events.
3. A Strong Food Scene
You`ll find an abundance of local food options in Allentown. Some of the best include the Red Rooster, the Blue Moon, and the Blue Bell Creamery.
4. A Healthy Community
The town has an active community garden program, which allows residents to grow vegetables and herbs in plots on the grounds of the Allentown School District. The gardens are open to anyone who wants to participate.
5. A Great Place to Raise Kids
Allentown offers a variety of child care options, including daycare centers and preschools. The area also has plenty of parks and playgrounds.
6. A Supportive Environment for Entrepreneurs
There are plenty of resources available to help new businesses thrive in Allentown, including mentoring programs, workshops, and networking opportunities.