Bethlehem says it's taking steps to become an economic power-house.

Mayor John Callahan announced the formation of a committee Thursday created to apply for Pennsylvania's "City Revitalization and Improvement Zone" initiative.

Only two cities in Pennsylvania will receive the "CRIZ" designation.

If Bethlehem is selected it will create a 130-acre business zone.

Businesses within the zone will receive tax breaks.

The Mayor says this will draw entrepreneurs and investors to Bethlehem.

The city has to apply by November 30th.