EDITORIAL: Lancaster EDC plan is right on the money
Central Penn Business Journal, June 18, 2010
The Lancaster Economic Development Co. and its sister financial corporation’s joint strategic plan is right on the money in making Lancaster County and its similarly named seat a more successful and sustainable business region.
The 2015 strategic plan was carted out Friday during its annual membership meeting.
Beginning in 1960 with the county’s first industrial park — Lancaster-Hempfield Industrial Park — the EDC and its finance corporation have helped to bring millions of dollars into the county. Some of the more prominent growth projects in the last decade alone include Clipper Magazine Stadium, South Square and the Northwest Gateway Project in the city, and Mountain Springs Resort in Ephrata, GlaxoSmithKline in West Donegal, Hardy Greys North America and The Jay Group in West Hempfield and Clair Bros. in Manheim.
For more than 50 years, the EDC has been a driving force in economic development and redevelopment in the Red Rose City. So what does it want to accomplish next?
According to the plan: Market Lancaster County consistently to retain current businesses and attract new ones; be intentional about where development should occur and pursue adaptive reuse when possible; broaden and strengthen partnerships; and develop entrepreneurial strategies for financial stability.
Lancaster has done a remarkable job reinventing its downtown; it’s the crown jewel of the midstate. To continue revitalizing urban areas and pursuing public-private partnerships while being selective about securing properties shows the strong commitment to the downtown economic driver. With the city being such a gem, looking over the neighborhoods and commercial areas as a blank canvas is a luxury most communities don’t possess.
Business investment and retention, business recruitment and financial sustainability round out the strategic plan.
That the document took 18 months to complete — through the recession — is reflected in the plan’s core principles that withstand economic storms.
It’s important that the types of businesses that can be brought to and maintained in Lancaster County are economically sustainable. The strategic plan is a major step toward sustainable prosperity.
Used with permission from the Central Penn Business Journal, June 18, 2010
Click here for 2015 Joint EDC & EDC Finance Corporation Strategic Plan Summary |
