In addition to announcing $2 million in grant awards to support the new Center for Regional Analysis, EDC also celebrated a range of accomplishments and plans.
Specifically, it noted volume in 2016 for EDC Finance Corporation:
- Surpassed 100 SBA 504 loans, leveraging more than $245 million of total investment that provided subordinate financing to more than $117 million in senior bank financing
- 33 economic development financing projects so far in 2016, totaling $18 million and reflecting $57 million in total investment
- 14 state loan approvals that represents $7 million of direct financing toward $19 million of total investment
For EDC, the focus this year and looking ahead into 2017 will include:
- A heightened focus on business retention and expansion;
- Continued efforts to gauge the availability and demand for sites zoned commercial and industrial; and,
- Targeted initiatives to support redevelopment in Lancaster County’s 18 Boroughs.
Special recognition was also given to former EDC Board Chair John Cox, CEO of Turkey Hill Dairy, for his tremendous leadership through over 10+ years of service to the organization, along with outgoing EDC Finance Chair Betty Tompos, VicePresident for Finance, Thaddeus Stevens College of Technology.