EDC Briefs Membership on Progress, Seeing the Impacts of Production Agriculture Financing, EDC Hears from the Boroughs in Economic Development Discussions, and SBA 504 Refinance to Reopen June 24th.
EDC in Your Community
EDC Briefs Membership on Progress
Over 130 members and guests gathered on June 2nd at Spooky Nook Sports for a briefing on EDC’s and EDC Finance Corporation’s progress and achievements over the past year. In addition to providing insight on the organizations’ day-to-day activities, EDC President Lisa Riggs shared information on broader organizational initiatives and plans. She emphasized the important role of membership investment in supporting EDC’s strategic efforts to strengthen Lancaster’s economy. Ms. Riggs pointed out how EDC and EDC Finance are actively engaged with local and regional partners and how EDC is measuring and delivering results today, while at the same time focusing on the organization’s future.
Seeing the Impacts of Production Agriculture Financing
On May 12th, EDC Finance coordinated a Lancaster County Ag Tour for Pennsylvania Industrial Development Authority (PIDA) staff and EDC Finance representatives to three farms that received financing from EDC Finance to improve or expand their operations. The tour included visits to Michael and Heather Lewis’ broiler farm in Mount Joy, Shelmar Acres in Mount Joy, owned by Mitch and Heather Shellenberger, and Yippee! Farms in Mount Joy, owned by Arlin and Deborah Benner. During lunch at Acorn Farms, the group heard preseantations by Dustin Dreyfuss from Dutchland Farms and Michael Peachey, who specializes in Ag & Agri-Business Services with Acuity Advisors and CPAs and serves on the EDC Finance Board of Directors.
Read more about the tour and see pictures here.
EDC hears from the Boroughs in Economic Development Discussions
On May 24th, 25th and 26th, EDC organized three Lancaster County Boroughs Economic Development Discussions. EDC introduced the working plan and the on-going efforts of the Boroughs Collaborative Working Group. Over 60 people participated in the discussions, which provided an opportunity to share economic development topics of importance to the Boroughs, explore opportunities to work collaboratively toward economic development goals in the Boroughs, and explore key development and redevelopment opportunities in the Boroughs.
Read more information about the Boroughs Collaborative here.
SBA 504 Refinance to Reopen June 24th
After completing its temporary run almost four years ago, SBA 504 Refinance will re-open on June 24th, and this time it is a permanent offering under SBA 504 lending. EDC Finance can use SBA 504 Refinance loans to work with commercial businesses in Lancaster, Adams, Cumberland, and York Counties and their bank’s to restructure eligible long-term debt and even provide cash out refinance options. Check out the newly updated SBA 504 Refinance section of the EDC Finance website for more information and contact details.
The mission of Lancaster General Health/Penn Medicine is to advance the health and well-being of the communities they serve. LG Health/Penn Medicine is a valued sponsor of the Economic Development Company of Lancaster County.