Friday, December 21, 2012

Today's Business News in the Lehigh Valley, 12/21/12

Good morning, and happy Friday Lehigh Valley! Today is the first day of winter, and luckily for all of us the world has not ended! Today is the first day of the winter season.

Bethlehem's city council adopted a budget of $71 million for 2013, which includes a 7% property tax hike and an entertainment tax on certain concert tickets. Much of the debate around the budget focused on the rising pension costs the city is facing.

Air Products has expanded their operations in China, opening a new lab within its Asia Technology Center in Shanghai. "The advanced gas applications laboratory will further strengthen the center's research and development capabilities to support the increasing needs in China and across Asia, officials said."

Speaker Boehner's "Plan B" to avert the fiscal cliff failed to gather enough Republican support and was taken off the table yesterday. His proposed plan would have extended tax cuts that are set to expire at year's end for most people while allowing rates to increase to 1990 levels on income over $1 million.

Don't forget the Coca-Cola Caravan tomorrow in downtown Bethlehem, right in front of the Main Street Commons building. The truck will be decorated with 25,000 twinkling lights and will be parked on Main St. from 2 - 8 p.m. More information in the flyer below.





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