The residents of Allentown are still sore about that Billy Joel song. And while it's true the Pennsylvania city became synonymous with deindustrialization after the steel industry began its decline in the 1970s, it should be known for more: In the 1950s, some of the first mass-produced transistors were made in the city, the precursor of today's semiconductors. The city is a unique logistics and e-commerce hub — it's a day's drive from nearly 40 percent of the US population. In today's episode, recorded in Madrid at the Citylab conference, we speak to Mayor Matthew Tuerk about the city's grand strategy for building back and sustaining its manufacturing base, implementing industrial policy on a local level, how rezoning has changed in the last decade, the political puzzle of data centers, recruiting companies to come to Allentown, de-risking the American supply chain, and our favorite new category of industry — weight-gaining industries. Watch Bloomberg Vodcasts: https://www.youtube.com/playlist?list=PLe4PRejZgr0MS0Tqk_zQl1LVVTdWuH2Di Watch more Odd Lots episodes: https://www.youtube.com/playlist?list=PLe4PRejZgr0OJbRzA6nWybYiThLJd_ouz Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Join the conversation: discord.gg/oddlots Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: https://youtube.com/playlist?list=PLe4PRejZgr0MuA6M0zkZyy-99-qc87wKV Get the Odd Lots newsletter: https://www.bloomberg.com/account/newsletters/oddlots And for all things Odd Lots, visit https://www.bloomberg.com/oddlots #Investing #Markets #Finance #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts For coverage on news, markets and more: http://www.bloomberg.com/video Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Chapters: 00:00:00 - A Mayor's Role 00:01:06 - Billy Joel Context 00:04:23 - Guest Introduction and Madrid Marathon 00:05:02 - Billy Joel Song Controversy 00:06:14 - Allentown Industrial History 00:10:16 - Economic Diversification Strategy 00:12:28 - Urban Manufacturing Alliance Formation 00:15:26 - The Forgotten Maker Movement 00:16:04 - Re-industrialization Strategy Development 00:18:00 - Geographic Advantages 00:20:48 - Onshoring and Supply Chain Strategy 00:24:14 - Zoning Reform for Mixed-Use Manufacturing 00:28:36 - Post-COVID Federal Industrial Policy 00:32:15 - EDA Recompete Grant Success 00:33:37 - Grant Security and Political Transition 00:35:15 - Federal-Local Policy Coordination 00:39:39 - Pennsylvania Swing State Politics 00:41:28 - Manufacturing Jobs vs. Automation 00:44:16 - Data Centers and Energy Policy 00:48:40 - Yaco's Hot Dog Controversy Watch Bloomberg Vodcasts: https://www.youtube.com/playlist?list=PLe4PRejZgr0MS0Tqk_zQl1LVVTdWuH2Di Watch more Odd Lots episodes: https://www.youtube.com/playlist?list=PLe4PRejZgr0OJbRzA6nWybYiThLJd_ouz Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Join the conversation: discord.gg/oddlots Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: https://youtube.com/playlist?list=PLe4PRejZgr0MuA6M0zkZyy-99-qc87wKV Get the Odd Lots newsletter: https://www.bloomberg.com/account/newsletters/oddlots And for all things Odd Lots, visit https://www.bloomberg.com/oddlots #Investing #Markets #Finance #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts For coverage on news, markets and more: http://www.bloomberg.com/video Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg