Economic Development Corporation (EDC)

2023 Budget

The Economic Development Corporation is a special purpose corporation that provides financing and other assistance for commercial, industrial, and non-profit residential development projects. Additionally, the Corporation board is designated under local ordinance as a review body for all cannabis permits through the City.

The Economic Development Division implements programs and provides services integral to achieving the goals of the community's economic development plan. Staff expertise in the use of incentives such as gap financing, land assembly and linkages to workforce development resources is utilized to preserve/enhance tax base and create jobs in the city. The Department works with federal, state and local development organizations/agencies to address community reinvestment, job creation, entrepreneurship, job retention, brownfield redevelopment and riverfront redevelopment. The division provides staffing support to the Brownfield Redevelopment Authority, Economic Development Corporation and Local Development Finance Authority.

Core Services

  • Provides access to bonds, grants, or other financial products for commercial, industrial, and non-profit residential housing projects
  • Reviews and recommends renewal of City cannabis permits
  • Other economic development initiatives as determined by the board

Economic Development Corporation (EDC)

Revenues and Expenditures