Panther Valley will bear the distinction this fall of having the first and only plant in this country where genuine velvet ribbons are produced.

The new industry is seen as another step in the valley’s efforts to achieve industrial diversification after officials of the Carbon-Schuylkill Industrial Development Corporation this week signed a lease agreement with Velvet Ribbons Inc., New York City, for the firm to occupy the former Lehigh and New England freight station on Dock Street in Lansford.

Twenty-one job opportunities are expected to be created in the first year with a projection of 48 jobs at the end of three years of operation here.