Nokia Investing $30M To Expand AI Chip Production In Lehigh Valley: The Philadelphia Deal Sheet
The Lehigh Valley has scored another major manufacturing win, this time on the artificial intelligence front.
Nokia is investing $30M to expand an existing chip manufacturing facility at 7360 Windsor Drive outside Allentown in Upper Macungie Township. The move, hailed by Gov. Josh Shapiro, will expand the company’s advanced test and packaging operations at the site.
“AI is transforming network and infrastructure requirements, reshaping networks and global infrastructure demands,” Nokia CEO Justin Hotard said in a statement. “This investment increases domestic production of the critical optical networking technologies that power AI infrastructure.”
The state government is also investing more than $3M in the project, which is expected to create 250 new jobs over the next three years, in addition to the 308 existing full-time positions.
The announcement came after Eli Lilly & Co. in January announced plans for a $3.5B weight-loss drug manufacturing facility off the same exit of I-78. It is expected to bring 850 permanent jobs to the region.
LEASES
New York Life Insurance Co. is relocating its Center City office and will cut its footprint in the neighborhood by 53% in the process, the Philadelphia Business Journal reported. The firm signed a lease for 40K SF in Three Logan Square, which is about half of its current footprint in Two Liberty Place. The move is planned for the third quarter of 2027.
CONSTRUCTION AND DEVELOPMENT
Main Line Health is building a five-story expansion facility that will add 108 beds and a new heliport to its Paoli Hospital campus, according to a Tuesday press release. The project, which has a budget of between $220M and $240M, is expected to deliver in 2029, the Philadelphia Business Journal reported.
***
Long Island-based Bill Wolf Petroleum Corp. plans to develop a 100-unit apartment building with a rooftop pool at 639-53 N. Broad St., The Philadelphia Inquirer reported. The developer has received demolition permits for the existing light industrial structures on the site.
THIS AND THAT
International Workplace Group is opening up five Spaces and Regus locations in Philadelphia to eligible workers during five World Cup match dates.
The outposts at 325-41 Chestnut St., 100 S. Juniper St., 123 S. Broad St., 1624-1628 Locust St. and 1650 Market St. will be available on June 22, June 25, June 27, July 4 and July 11. Participants must reserve a space through the IWG or Regus app and prove their eligibility with a match ticket, event credential or travel confirmation during the tournament period, alongside a work credential like a business card or email address.
***
SEPTA is extending its Route 45 bus to the Philadelphia Navy Yard, which will bring the complex onto the city’s public transit network for the first time in recent history.
“Expanding transit access to the Navy Yard creates new opportunities for employment, recreation, and residential growth,” Navy Yard Vice President of Strategic Initiatives Alex Smith said in a social media post.
“A one-seat ride connecting Center City and South Philadelphia to the Navy Yard represents a meaningful advancement in accessibility, connectivity, and mobility for Philadelphia residents and workers alike.”
