ANNUAL REPORT - Economic Development Company of Lancaster

ELEVATING LANCASTER COUNTY’S ECONOMIC STRENGTH
2015
ANNUAL
REPORT
3
Courtesy of Rock Lititz
VISION
To elevate the economic strength of Lancaster
County by becoming the business investment
community of choice.
MISSION
To enhance the economic well-being of
Lancaster County by bringing together business
resources, capital and government for selective,
measurable and sustainable growth.
MESSAGE FROM
THE BOARD CHAIRS
This Annual Report showcases the growing strength, influence and impact
of the Economic Development Company of Lancaster County (EDC) and
its sister organization, EDC Finance Corporation. Often the core work of
these two entities is behind the scenes, yet over the past year, we’ve been
more intentional to share our successes and to elevate the many wonderful
businesses, individuals and partners with whom we work.
We hope you’ll take a few minutes to review this Annual Report. You’ll
find our summary chart documenting specific projects facilitated by EDC
Finance Corporation, which showcases diverse business investments
and expansions. Our track record of providing high quality economic
development financing expertise continues to be strong, evidenced by
the 35 loans recorded in 2015—ranging from the growth at Rock Lititz
to generational transitions at family farms.
You’ll also find information about how we spread our wings this past year
beyond our core business retention, expansion and recruitment activities
to explore key issues impacting Lancaster County’s growth today and into
the future. As the County’s lead economic development organization, EDC
is looking forward and gaining broad, deep knowledge of economic trends
and local conditions.
Finally, this report is one of our primary vehicles to acknowledge and thank
the many individuals and businesses who contribute to our success and to
the overall economic health of Lancaster County. Economic development is
a team effort, so please take a few minutes to review our lists of members,
sponsors and volunteers. Thank you for your support, involvement, advice
and passion.
John D. Cox
EDC Board Chair
2013 – 2015
Betty K. Tompos
EDC Finance Corporation Board Chair
2015-2016
4
2015 YEAR IN REVIEW
AND KEY ACCOMPLISHMENTS
BUSINESS RETENTION,
EXPANSION AND RECRUITMENT
MANAGED
40
APPROVED
35
loans
RECORDED
5
111
prospect inquiries reflecting
• local businesses seeking to expand
• new businesses considering an investment into Lancaster County
• leads referred to EDC
totaling
leveraging
million
million
26 $72
$
in total project costs
• retaining 444 existing jobs
• creating 355 new jobs
• retaining farming operations
on 440 acres of farmland
inquiries, leads or project opportunities
tracked through a new contact relationship management (CRM)
database implemented internally in July 2015
STRATEGIC INITIATIVES
CONDUCTED a County-wide land use analysis, identifying underutilized and
vacant parcels zoned for commercial and industrial development
and then further performed a suitability analysis, laying the
groundwork for continued research in 2016
RESEARCHED key industry clusters in Lancaster County, deepening the
available data and knowledge required to transition to targeted
and intentional business retention and recruitment
LAUNCHED a targeted initiative focused on
the economic development needs
of Lancaster County’s boroughs
DEVELOPED new collateral material that authenticates
Lancaster County’s economy as accessible,
innovative and global; educates local
constituents and provides prospects
with a stronger image of the community
aster
Locate Lanc
L. INNOVATIVE.
LOCAL. GLOBA
ACCESSIBLE.
Lancaster
County,
PA
COMMUNICATING
HOSTED three EDC member events,
sharing updates on organizational
progress and showcasing Quality
Bicycle Products’ new facility
DELIVERED a monthly ezine to keep members,
partners and supporters up to
date on EDC and EDC Finance
Corporation project work
DEVELOPED intentional partnerships with
shared, coordinated workplans
6
INTERNAL
CAPACITY BUILDING
EXPANDED the team by two positions,
including a second Finance
Project Manager and an Economic
Development Coordinator
ESTABLISHED the Foundation of the Economic Development Company of
Lancaster County, a 501(c)(3) charitable organization, to support
the advancement of broad-based economic development initiatives
2015 PROJECT RESULTS
County
Loan Amount
SBA 504
Wee Care Day School
Penn Stone
The Bird-In-Hand Corporation
Pine Hill Manufacturing, LLC
(New Holland)
Excelsior LLC
L & W Apparel Co, Inc.
Direct Manufacturing LLC
Midway Bowling Center
Prestige Color
Red Caboose Inn
Hooley School of Irish Dance, LLC
Tono Architects, LLC
7
Total Project Jobs Jobs
Costs
RetainedCreated
Lancaster
Lancaster
Lancaster
$ 634,000
$ 453,000
$ 1,136,000
$ 1,585,000
$ 1,133,333
$ 3,247,059
14
13
15
3
0
2
Lancaster
Lancaster
York
Lancaster
Cumberland
Lancaster
Lancaster
Lancaster
Lancaster
$ 807,000
$ 835,000
$ 1,525,000
$ 2,498,000
$ 248,500
$ 493,250
$ 561,975
$ 298,000
$ 488,400
$
$
$
$
$
$
$
$
$
50
0
86
61
6
48
4
1
10
15
0
15
8
6
3
1
3
6
2,018,889
2,388,235
3,824,500
6,245,000
710,000
1,293,500
1,873,250
745,000
1,221,000
Total SBA504
12
$ 9,978,125
$26,284,766
308
Pennsylvania Industrial Development Authority - Commercial & Industrial Dillerville Road—Clipper/
Oaktree Multi Tenant
Lancaster
$ 2,250,000
$ 7,858,074
0
Pod #2 at Rock Lititz, LP
Lancaster
$ 2,250,000
$ 21,281,029
0
Acorn Design & Mfg d/b/a Bench Dogs Lancaster
$ 1,462,500
$ 3,250,000
32
Triode Media Group LTD
Lancaster
$ 400,000
$ 1,050,000
0
Revolution Builders, Inc.
Lancaster
$ 182,500
$ 425,000
5
Rhoads Energy Corporation
Lancaster
$ 187,500
$ 375,000
84
40
220
10
6
5
12
Total PIDA - Service
293
6
$ 6,732,500
$ 34,239,103
121
Building PA
Pod #2 at Rock Lititz, LP
Lancaster
$ 3,192,000 — included above —
Total Bldg PA
1
$ 3,192,000
— included above —
62
County
Loan Amount
Total Project Jobs Jobs
Costs
RetainedCreated
Next Generation Farmer Loan Program
Esh, Christian & Rebecca
Lancaster
Conowingo Farm, LLC
Lancaster
Stoltzfus, Jacob K. & Sylvia A.
Lancaster
Landis, Brent & Priscilla
Lancaster
Lapp, Daniel K. & Ruth E.
Lancaster
Beiler, Emanuel Z & Rebecca F.
Lancaster
Stoltzfus, Aaron G. & Rachel F.
Lancaster
Stoltzfus, John B. & Rebecca M.
Lancaster
Fisher, Henry & Katie
Lancaster
$ 500,000
$ 785,000
$ 720,000
Included below
$ 517,000
$ 417,000
$ 517,000
$ 517,000
$ 517,000
$
$
$
$
$
$
$
$
$
500,000
250,000
517,000
250,000
517,000
417,000
517,000
517,000
517,000
1
1
1
0
1
1
1
1
1
0
0
0
0
0
0
0
0
0
Total NGFLP
9
$ 4,002,000
$ 4,490,000
Pennsylvania Industrial Development Authority - Agriculture
Herr Farm, Rustin & Heather
Lancaster
$ 200,000
$ 1,575,000
Long Farm, Steve and Donna
Lancaster
$ 400,000
$ 900,000
Landis Farm, Brent and Priscilla
Lancaster
$ 200,000
$ 1,126,000
Shellenberger Farm, Mitchell & Heather Lancaster
$ 325,000
$ 650,000
Lewis Farm, Michael & Heather
Lancaster
$ 200,000
$ 425,000
Akers, Joshua T. & Britni
Lancaster
$ 200,000
$ 1,000,000
Wissler Farm, Donald/
Lancaster
$ 400,000
$ 1,050,000
Holly New Land Purch
8
0
1
1
1
1
1
1
1
0
0
0
0
0
0
0
Total PIDA - AG
7
$ 1,925,000
$ 6,726,000
7
0
Total
35
$25,829,625
$71,739,869
444
355
8
2015 BOARDS OF DIRECTORS
2015 EDC
BOARD OF DIRECTORS
2015 EDC FINANCE CORPORATION
BOARD OF DIRECTORS
Thomas T. Baldrige, President & CEO
The Lancaster Chamber of Commerce & Industry
Jeffrey S. Bleacher, Managing Partner
Ross Buehler Falk & Company
Thomas E. Beeman, President & CEO
Lancaster General Health/Penn Medicine
Joan M. Brodhead, VP & COO, Community First Fund
Troy A. Clair, President & CEO, Clair Global
Steven G. Cook, Business Development Director
UGI Utilities
John D. Cox, President, Turkey Hill Dairy
R. Joe Crosswhite, Regional President, M&T Bank
Mark C. Fitzgerald, President & COO
High Real Estate Group
Earl A. Furman, President & CEO, Versatek Enterprises
Mark D. Gainer, President & CEO
Union Community Bank
James R. Hoehn, President, PNC Central PA Region
Randall L. Horst, President & CEO, Horst Group
David R. Keller, Esq., Partner, Barley Snyder
Robert M. Krasne, Esq., Chairman & CEO, LNP Media
Group, a Steinman Communications Company
Donald H. Nikolaus, President & CEO
Donegal Mutual Insurance Company
William J. Reuter, Chairman & CEO
Susquehanna Bancshares
Dr. Carl J. Strikwerda, President
Elizabethtown College
9 Rupert H. Taylor III, Executive Vice President
Warfel Construction Company
Michael R. Carper, President & CEO
Housing Development Corporation/MidAtlantic
Joshua D. Cohen, Esq., Member
McNees Wallace & Nurick LLC
Michael W. Davis, Esq., Partner, Barley Snyder
Patrick M. Egan, Owner, Select Security
Jennifer D. Goldbach, Business Development Director
Rhoads Energy
R. Edward Gordon, Executive VP & CFO
Wohlsen Construction Company
Robert W. Heiserman, Broker/Owner
Donegal Real Estate
Charlotte A. Katzenmoyer, Director of Public Works
City of Lancaster
Craig E. Lehman, Commissioner, County of Lancaster
Michael P. Peachey, Partner, Acuity Advisors & CPAs
Gary M. Pruden, CFO, Lancaster County Solid Waste
Management Authority
Dennis R. Roemer, Executive VP & CFO
Lancaster General Health/Penn Medicine
Robert C. Shoemaker, President & CEO
Lancaster City Alliance
Betty K. Tompos, VP for Finance & Administration
Thaddeus Stevens College of Technology
James D. Warner, CEO
Lancaster County Solid Waste Management Authority
2015 EDC FINANCE
CORPORATION OFFICERS
E. Philip Wenger, Chairman and CEO
Fulton Financial Corporation
Michael R. Carper, Vice Chair
2015 EDC OFFICERS
John D. Cox, Chair
James D. Warner, Vice Chair
Lisa D. Riggs, President
John W. Biemiller, EVP/COO, Treasurer, Secretary
Lyle D. Hosler, Vice President
EMERITUS DIRECTORS
Gibson E. Armstrong
Robert S. Bolinger
Dr. Joseph A. Caputo
Robert C. Gray
John M. Hallgren
Alexander Henderson, III
Calvin G. High
Calvin E. Levis
W. Kirk Liddell
Jessica H. May
Gene Moore
Timothy W. Peters
R. Scott Smith, Jr.
Kenneth G. Stoudt
Daniel C. Witmer
Betty K. Tompos, Chair
Lisa D. Riggs, President
Lyle D. Hosler, Vice President, Secretary/Treasurer
John W. Biemiller, EVP/COO,
Assistant Secretary
2015 EDC FINANCE LOAN COMMITTEE
Jeffrey S. Bleacher, Managing Partner
Ross Buehler Falk & Company
Michael R. Carper, President & CEO,
Housing Development Corporation/MidAtlantic
Patrick M. Egan, Owner, Select Security
Jennifer D. Goldbach, Business Development Director
Rhoads Energy
Robert W. Heiserman, Jr., Broker/Owner
Donegal Real Estate
Mark P. Lauriello, President, Rettew Associates
Michael P. Peachey, Partner, Acuity Advisors & CPAs
Robert S. Rockwell, Retired, York County Economic
Alliance representative
Robert C. Shoemaker, President & CEO
Lancaster City Alliance
Betty K. Tompos, VP for Finance & Administration
Thaddeus Stevens College of Technology
EDC & EDC FINANCE CORPORATION STAFF
EDC REAL ESTATE TASK FORCE
Lisa D. Riggs, President
James Bennett, Director of Business Development
& Marketing, Simon Lever
John W. Biemiller, EVP/COO
Lyle D. Hosler, Director of Finance
Leigh A. Bardell, Finance Project Manager
Claudia M. Fisher, Finance Project Manager
Laura M. Gebhart, Economic Development Coordinator
Jessica A. Hamilton, Funding & Servicing Officer
Randall M. Johnston, Loan Officer
Donna M. Neyhard, Administrative Assistant
Jean K. Rehrig, Funding & Servicing Manager
AUDIT COMMITTEE
Chair, R. Joe Crosswhite, Regional President
M&T Bank
Steven G. Cook, Business Development Director
UGI Utilities
Jennifer D. Goldbach, Business Development Director
Rhoads Energy
Edward W. Monborne, CEO, Reinsel Kuntz Lesher
Gary M. Pruden, CFO, Lancaster County Solid Waste
Management Authority
INVESTMENT & FINANCE COMMITTEE
Chair, Mark D. Gainer, President & CEO
Union Community Bank
James Cowhey, Executive Director
Lancaster County Planning Commission
Joseph M. Donaldson, Director, Facilities
& Property Management, LNP Media Group,
A Steinman Enterprise
Ramon Escudero, Executive Director
Elizabethtown Area Chamber of Commerce
Mark C. Fitzgerald, President & COO
High Real Estate Group
James R. Hoehn, President
PNC Central PA Region
Jessica Long, Regional Affairs Director
PPL Corporation
Daniel L. Zimmerman, Township Manager
Warwick Township
LANCASTER COUNTY BOROUGH INITIATIVE
Lisa M. Boyd, Borough Manager, Strasburg Borough
James R. Cowhey, Executive Director
Lancaster County Planning Commission
Rebecca S. Denlinger, Principal
Rising Tide Collaborative
Michael G. Hession, Borough Manager
Borough of Denver
Roni Ryan, Manager, Elizabethtown Borough
Michael G. Fessler, Manager—Regulatory Affairs
UGI Utilities
Matthew Sternberg, Executive Director, Lancaster
County Housing & Redevelopment Authorities
R. Edward Gordon, Executive VP & CFO
Wohlsen Construction Company
D. Robert Thompson, Manager, Borough of Ephrata
Randall L. Horst, President & CEO, Horst Group
Dennis R. Roemer, Executive VP & CFO
Lancaster General Health/Penn Medicine
E. Philip Wenger, Chairman and CEO
Fulton Financial Corporation
John D. Cox, President, Turkey Hill Dairy
Betty K. Tompos, VP for Finance & Administration
Thaddeus Stevens College of Technology
10
EDC BUDGET $1.16 MILLION
REVENUE
EDC Finance Corp. Admin. Fee
9%
7%
5%
40%
Membership Public Sector Special Projects Sponsorship/Events EXPENSES
Personnel
39%
7%
5%
13%
75%
Programs
Professional Fees
Administration
11
EDC FINANCE CORPORATION
BUDGET $660,000
9%
6%
REVENUE
85%
Loan Commitment & Servicing Income
Special Projects
Other Income
10%
EXPENSES
Personnel
Administration/Operations
Professional Services
15%
75%
12
2015 EDC MEMBERSHIP
LEADER $50,000+
FOUNDER
$30,000 - $49,999
13
DEVELOPER
$15,000 - $29,999
PARTNER
$7,500 - $14,999
MEMBER $3,500 - $7,499
Cargill Cocoa & Chocolate
Sechan Electronics
Barley Snyder
Certified Carpet
Select Security
Donegal Mutual Insurance
Company
Citizens Bank
Shumaker PDT
City of Lancaster
Simon Lever
Dutch Wonderland
Clair Brothers Audio Systems
Stoner
Dutchland
Clair Global
The Drogaris Companies
Flyway Excavating
The Walz Group
Franklin & Marshall College
Commercial & Industrial Real
Estate Council/LCAR
HACC - Lancaster Campus
Conewago Industrial Park
Conrad Siegel Actuaries
Versatek Enterprises
Hartman Underhill & Brubaker
Horst Group
David Miller/Associates
Irex Corporation
DenTech
Lancaster County Housing
& Redevelopment Authorities
Eastern Alliance Insurance Group
Lancaster Regional Medical Center
& Heart of Lancaster
ELA Group
McNees Wallace & Nurick
Millersville University
of Pennsylvania
EHD Advisory Services
Elizabethtown College
Ephrata National Bank
Hamilton Precision Metals
Trout, Ebersole & Groff
Wenger’s Feed Mill
SUPPORTER $500
Columbia Borough
Community First Fund
Discover Lancaster
East Hempfield Township
Elizabethtown Borough
Integrity Bank
Ephrata Economic Development
Corporation
Professional Design & Construction
Kellogg Company
Harrisburg International Airport
Providence Engineering
Corporation
Kline’s Services
Martin Insurance Company
Housing Development
Corporation/MidAtlantic
Rettew Associates
Metro Bank
Thaddeus Stevens College
of Technology
Murray Securus
Union Community Bank
National Bearings Company
Oak Tree Development Group
Warfel Construction Company
Wohlsen Construction Company
ASSOCIATE $1,750 - $3,499
Abel Construction Company
Acuity Advisors and CPAs
Murry Management Company
National Penn Bank
Nikolaus & Hohenadel
Northwest Savings Bank
Orrstown Bank
Paul Risk Associates
Appel & Yost
Penn Cinema Management
Company
August Mack Environmental
Pine Hill Manufacturing
Aurora Films
Realty Settlement Services
B.R. Kreider & Son
Refreshing Mountain Retreat
& Adventure Center
Benchmark Construction Company
Kutztown University SBDC
The Lancaster Chamber
of Commerce & Industry
Lancaster County Career
& Technology Center
Lancaster County Workforce
Development Board
Lancaster Downtown Investment
District Authority
Manheim Area Economic
Development Corporation
Manheim Township
Masonic Villages at Elizabethtown
Mount Joy Borough Authority
SCORE (Chapter 16)
RGS Associates
FARM PARTNER $250
Brown Schultz Sheridan & Fritz
Rhoads & Sinon
John & Susan Howard Farm
Brubaker Connaughton Goss
& Lucarelli
Rhoads Energy
Misty Hollow Farm
Ross Buehler Falk & Company
Silver Run Farm
Burle Business Park
Santander
Star Rock Farms
Carel USA
School District of Lancaster
Bertz, Hess & Company
14
2015 SPONSORS
2015 Annual Meeting Sponsor
High Companies
Champion
Benefactor
Advocate
15
2015 COLLABORATIVE
Thanks to generous grant funding, EDC, along with its partners at the Lancaster County
Workforce Development Board, the Lancaster County Planning Commission and the Lancaster
City Alliance, functioned as a collaborative, to tackle specific industry cluster research, conduct
an inventory and suitability analysis of Lancaster County’s commercial and industrial land,
develop a joint marketing brochure and coordinate on specific business prospect activity.
Partners
Collaborative Funders
100 South Queen Street, PO Box 1558
Lancaster, PA 17608-1558
717-397-4046 | edclancaster.com