Economy of Allentown, Pennsylvania

The arrival of two professional athletics teams in the 21st century have helped bolster the Allentown economy, which has historically been considered part of the Rust Belt.

In Center City Allentown, PPL Center, an 8,500-capacity indoor arena, opened in September 2014 as the new home for the Lehigh Valley Phantoms of the American Hockey League, the primary development team of the National Hockey League's Philadelphia Flyers.

PPL Center also hosts major concerts and entertainment events.

In East Allentown, Coca-Cola Park, a 10,178-capacity baseball stadium, opened in March 2008 as the new home for the Lehigh Valley IronPigs of the International League, the Triple-A-level Minor League affiliate of the Philadelphia Phillies of Major League Baseball.

The following is a list of corporations based in Allentown and the surrounding Lehigh Valley metropolitan area: The following is a list of companies formerly headquartered in Allentown and the surrounding area:

Allentown , the largest city in the Lehigh Valley , third-largest city in Pennsylvania, and county seat of Lehigh County in May 2010
The global headquarters of Air Products , an $8.8 billion S&P 500 company headquartered outside Allentown in Trexlertown, Pennsylvania , March 2014
The corporate headquarters of PPL Corporation , a $7.6 billion S&P 500 company in Center City Allentown , January 2007
Bethlehem Steel in Bethlehem was the second largest steel manufacturer in the United States and one of the Lehigh Valley 's largest employers until it began downsizing in the 1980s, ultimately declaring bankruptcy in 2001
South Mall on Lehigh Street outside Allentown , one of several Allentown-area shopping malls, June 2015