Department of Economic Development
Mission Statement and Objectives

Mission Statement:  The mission of the City of Lancaster's Economic Development Department is to encourage favorable site selection or expansion decisions by new and existing business and industry.
 
How is this achieved:  By working vigorously with the prospect, city staff, elected officials and community stakeholders to leverage resources of a successful business expansion.

How does Lancaster leverage its resources:  By crafting an assistance package that may be as simple as providing local community information or as complex as structuring various performance-based financial incentives.  Among Lancaster's many resources are:

• location
• transportation infrastructure
• workforce
• workforce training and educational institutions
• financial assistance/incentives

Since the passage of the quarter-cent sales tax for economic development in 1995, Lancaster has set aside funds to help eligible businesses grow with our community.  This process is governed by a five-member Board of Directors (Lancaster Economic Development Corporation) appointed by the Lancaster City Council.  The purpose of the board is to review incentive requests and made incentive recommendation to the Lancaster City Council.

Economic Development sales tax funds may be used to assist an eligible project with:

• building construction
• infrastructure improvements
• reimbursement of development and related fees associated with projects involving building construction and infrastructure improvements

These incentives are negotiable and each project being considered must provide:

• capital investment
• job creation
• increased property and/or sales tax revenue

An in-house evaluation and cost-benefit analysis of the project will be conducted to determine if the project is eligible for consideration and what incentives might be offered.  Additional information may be required to consider any financial incentive.  Board-approved incentives are subject to City Council ratification.  It is essential that written incentive requests be made and acted on by the LEDC Board and the City Council prior to the start of construction retroactively.  All incentive requests must involve projects which create property tax and/or sales revenues for the City of Lancaster. 

These funds cannot be used for venture or equity capital, working capital or personal loans.