HAZLETON — A recent study conducted by the Northeastern Pennsylvania Alliance showed that during 2018, properties developed in CAN DO’s parks had a total estimated output or economic activity of $6.3 billion on the regional economy in Carbon, Luzerne and Schuylkill counties, the areas where CAN DO’s four parks are located.
In 1956, when he chose “CAN DO” as the name for Greater Hazleton’s economic development organization, Dr. Edgar L. Dessen had a vision of the great financial impact those two words would have on the region.
Today, that vision has been realized.
Across its Valmont, Humboldt and McAdoo industrial parks and the CAN DO Corporate Center, CAN DO-recruited industries directly employ more than 13,000 individuals who earn a total compensation of more than $742.5 million, with an average hourly wage of $26.51, including benefits.
Businesses in CAN DO’s parks contribute a total estimated labor income of $1.3 billion to the local economy, including $1.2 billion in estimated employee compensation and $105.9 million in estimated proprietor income.
Properties in CAN DO’s parks also account for an estimated employment of 12,877 additional jobs (6,982 indirect jobs and 5,894 indirect jobs), which have a total compensation of more than $487.5 million.
CAN DO President and CEO Kevin O’Donnell said, “CAN DO’s mission has always been to improve the quality of life in Greater Hazleton through the creation and retention of a full range of employment opportunities. These numbers reflect that CAN DO continues to work diligently to bring family-sustaining jobs to the region that will provide a direct benefit not only to the residents of Greater Hazleton who work in our parks but to the overall local economy as well.”
The total estimated taxes generated from the four parks is $549.1 million, which consists of an estimated $332.4 million in federal taxes and an estimated $216.7 million in state and local taxes.
When looking at the annual real estate taxes, properties in CAN DO’s parks generate a total property assessment value of $572.7 million and total taxes paid of $12.471 million, which includes $7.63 million in Hazleton Area School District taxes, $4.07 million in taxes to the three counties and $771,000 in municipal taxes.
O’Donnell added, “With the expiration of much of the last-remaining Keystone Opportunity Zone properties, millions of additional dollars have been added to the local economy. Those businesses within KOZ’s otherwise would not have located to the community and are now paying taxes to the state and counties, the local municipalities and the Hazleton Area School District, which is exactly how the program was intended to work.”
As the above numbers show, CAN DO is committed to its economic development initiatives and making Greater Hazleton the premier place to do business and will continue to strive to improve the local economy and help make this community a great place to live, work and play.
For more information about CAN DO, visit www.hazletoncando.com.
Reach Bill O’Boyle at 570-991-6118 or on Twitter @TLBillOBoyle.