The restructuring eliminates two vice president positions and re-titles the chief operating officer position to vice president of administration and investor relations.

The restructuring also adds a vice president of marketing position and two business development staff to focus on business growth and expansion, and research and data gathering.

"It's critical that our resources be used wisely and shifted to the direct benefit of our marketing and development efforts," said Don Cunningham, president and CEO of LVEDC.

"This restructuring will increase our marketing of the Lehigh Valley and put more boots on the ground to help companies to come here, grow here and start here."

The changes coincide with the retirement of Stephen Melnick, a long-time area economic development professional who, prior to joining LVEDC in 2001, worked for the Bethlehem Economic Development Corp. Melnick retired from LVEDC as vice president of entrepreneurial development, where he focused on developing entrepreneurs and start-up companies.

Melnick will serve in an advisory capacity to LVEDC during the first quarter of 2013.

The organization named Robert Bilheimer to the newly-created position of director of business retention.

In addition to the business retention position, LVEDC will add the new position of director of research and innovation to coordinate and direct the gathering of economic development data and research and to work with start-up companies and entrepreneurs.