reportannual

ELEVATING LANCASTER COUNTY’S ECONOMIC STRENGTH

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To enhance the economic well-being of Lancaster County by bringing together business resources, capital and government for selective, measurable and sustainable growth.

MISSION

To elevate the economic strength of Lancaster County by becoming the business investment community of choice.

VISION

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2016 EDC & EDC Finance Corp. Annual Report

MESSAGE FROM THE BOARD CHAIRS

The influence, quiet strength and impact of EDC and EDC Finance Corporation grew notably in 2016. While the core work of these two entities is behind the scenes, over the past year, we’ve worked to share our successes, engage more volunteers in our efforts and elevate the many wonderful businesses, individuals and partners with whom we work.

Please take a few minutes to review this year’s Annual Report. Most of the information reflects our recent accomplishments; however, we also detail our new three-year strategic plan, including celebrating the creation of the Center for Regional Analysis under the auspices of the Foundation of EDC. Through the generous support of The Steinman Foundation and the BB&T Economic Growth Fund at the Lancaster County Community Foundation, this game-changing applied economic research endeavor will help guide EDC’s efforts, educate the community on key facets of our economy and inform important economic growth decisions of the future.

This Report also includes our standard summary chart documenting specific projects facilitated by EDC Finance Corporation, which this year includes repeat borrowers and also reflects our strong partnerships with the Pennsylvania Industrial Development Authority and the U.S. Small Business Administration.

Finally, we acknowledge and thank the many individuals and businesses who contribute to our success and to the overall economic health of Lancaster County. Please take a few minutes to review our lists of members, sponsors and volunteers. Thank you for your support, involvement, guidance and wisdom as we work to elevate Lancaster County’s economic strength.

James D. WarnerEDC Board Chair 2016

Betty K. TomposEDC Finance Corporation Board Chair 2015-2016

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2016 YEAR IN REVIEW AND KEY ACCOMPLISHMENTS

ANNOUNCED the creation of EDC’s Center for Regional Analysis, which will

provide high-quality economic research and analysis to inform and drive economic development activity in Lancaster County. EDC will launch this major endeavor in 2017, a game-changer for Lancaster’s approach to economic development, thanks to the generous support of The Steinman Foundation and the BB&T Economic Growth Fund at the Lancaster County Community Foundation.

MANAGED

69prospect inquiries reflecting

• local businesses seeking to expand • new businesses considering an investment into Lancaster County • leads referred to EDC

APPROVED

39loans

leveraging

$70.5 million

in total project costs• retaining 613 existing jobs • creating 217 new jobs • retaining farming operations

on 910 acres of farmland

EDC Finance • RECORDED 165 inquiries,

leads or project opportunities• APPROVED 8 loans for

repeat borrowers• APPROVED its landmark

100th SBA 504 loan in 2016, totaling 112 SBA loan approvals between 2008 and 2016

totaling

$23.5 million

ENGAGEDthe local community to focus on redevelopment of Lancaster County’s

• hosting regional meetings and educational events

• distributing economic development news through a boroughs e-newsletter

• identifying nearly 40 properties as key redevelopment opportunities

18 Boroughs by

APPROVED

SBA 504 loan

th

B&B’s Custom Trim, Inc. was awarded the 100th SBA 504 Loan

2016 EDC & EDC Finance Corp. Annual Report

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DEVELOPED

3 strategic plan that stresses

• business retention and expansion

• data-informed decision making

and positions EDC to lead key strategic economic development needs in Lancaster County

a new year

CONDUCTED research and initiated discussions related to commercial and industrial site availability and land use as first steps to assessing Lancaster County’s long-term ability to meet physical growth needs of existing business.

COMMUNICATED EDC’s activities and economic development news through LinkedIn, meetings and e-newsletters to raise awareness of specific business investments and key strategic growth needs.

ACTIVELY PARTICIPATED

• workforce development• clean water• economic development financing• regional partnerships• STEM (Science, Technology,

Engineering and Math advancement)

• transportation• regional marketing

in working groups and task forces on key economic development topics including

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Project County Loan Amount Total Project Jobs Jobs Costs Retained Created

Small Business Administration 504 AquaPhoenix Scientific, Inc. York $ 3,641,000 $ 8,902,000 107 4B & B’s Custom Trim, Inc. Lancaster $ 516,000 $ 1,255,000 20 3Cabin Hollow Butcher Shop, Inc. York $ 611,000 $ 1,870,000 16 4David Miller/Associates, Inc. Lancaster $ 250,000 $ 605,000 13 0Hess Tent Rental, LLC Lancaster $ 256,000 $ 620,000 6 1Mr. Bill’s Fresh Seafood Lancaster $ 539,000 $ 1,785,000 5 5Oma’s Family Campground, LLC Lancaster $ 396,000 $ 1,100,000 2 0OTC Fleet Services Lancaster $ 555,000 $ 1,350,000 15 4Pine Hill Manufacturing, LLC Lancaster $ 837,000 $ 2,035,111 50 15Rhoads Energy Corporation (Berks)* Berks $ 510,000 $ 1,614,000 10 0Rocky Springs Entertainment Center Lancaster $ 933,000 $ 2,600,000 22 6Tempco Enterprises, Inc., North Oxford Chester $ 1,059,000 $ 2,956,000 0 1Tempco Enterprises, Inc., South Oxford Chester $ 592,000 $ 1,647,000 0 1Treasured Motorcar Services, Ltd. York $ 235,000 $ 652,368 9 11Wyndridge Farms Ltd. York $ 463,000 $ 1,500,000 53 14*Approved in partnership with The Pennsylvania Community Development and Finance Corporation .

Total SBA504 $ 11,393,000 $ 30,491,479 328 69 Pennsylvania Industrial Development Authority - Commercial & Industrial Creative Packaging Solutions, LLC Lancaster $ 390,000 $ 815,000 4 5Energy Wall, LLC Lancaster $ 400,000 $ 1,063,940 6 7 Listrak, Inc. Lancaster $ 2,000,000 $ 13,260,000 195 100Refreshing Mountain Camp Lancaster $ 275,000 $ 558,044 5 2Riverrock Group/ Kulp’s Sheet Metal, Inc. Lancaster $ 225,000 $ 460,500 3 3Strasburg Rail Road Lancaster $ 765,000 $ 1,530,000 42 6

Total PIDA - Commercial & Industrial $ 4,055,000 $ 17,687,484 255 123

Direct WireDirect Wire & Cable worked with EDC Finance to complete an expansion at its Denver, PA manufacturing facility. The company installed state-of-the-art equipment to complete its wire factory, using an SBA 504 loan to help finance the project.

Rocky SpringsEDC Finance helped Rocky Springs Entertainment Center get approved for a second SBA 504 loan in 2016. Sherry and Fred O’Neill acquired the Rocky Springs property in 2009 with an SBA 504 loan and plan to expand, adding more family entertainment options to complement their successful bowling operations. EDC Finance worked with Orrstown Bank to assemble the financing structure.

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Project County Loan Amount Total Project Jobs Jobs Costs Retained Created

Building PA Conestoga River Plaza Lancaster $ 1,550,000 $ 4,600,000 30 25

Total Building PA $ 1,550,000 $ 4,600,000 30 25 Next Generation Farmer Loan Hershey, Linford & Jennifer Lancaster $ 520,000 $ 2,035,000 N/A N/ANolt, Wesley Lancaster $ 520,000 $ 900,000 N/A N/ASensenig, Clinton & Roseann Lancaster $ 250,000 $ 1,000,000 N/A N/AStoltzfus, David & Lizzie Lancaster $ 520,000 $ 824,000 N/A N/AStoltzfus, John & Rachel Lancaster $ 450,000 $ 680,000 N/A N/AStoltzfus, Samuel & Marian Lancaster $ 350,000 $ 350,000 N/A N/AWeaver, Garrett Lancaster $ 250,000 Counted below N/A N/AWeaver, Landis & Darla Lancaster $ 520,000 $ 1,250,000 N/A N/A

Total NGFLP $ 3,380,000 $7,039,000 N/A N/A Pennsylvania Industrial Development Authority – Agriculture Barry, Brandon & Jennifer Lancaster $ 400,000 $ 1,400,000 N/A N/ABellaire Farms, LLC Lancaster $ 400,000 $ 1,100,000 N/A N/ABrubaker Run Farms, LLC Lancaster $ 400,000 $ 1,870,000 N/A N/AFlintrock Farms, LLC Lancaster $ 400,000 $ 1,420,000 N/A N/AHerr, Gregory & Beth Lancaster $ 400,000 $ 1,150,000 N/A N/ALandis, Christian & Laura Lancaster $ 400,000 $ 930,000 N/A N/ARiver Corner Farms, LLC Lancaster $ 400,000 $ 1,700,000 N/A N/AWeaver, Garrett Lancaster $ 400,000 $ 1,200,000 N/A N/A

Total PIDA - Ag $ 3,200,000 $ 10,770,000 N/A N/A

Total $ 23,578,000 $ 70,587,963 613 217

2016 PROJECT RESULTS

Conestoga River PlazaEDC Finance and the Commonwealth Financing Authority approved a $1,550,000 Building PA loan to assist with the development of Conestoga River Plaza, a new gateway multi-tenant retail facility on South Duke Street in the City of Lancaster. The significant project is led by the Spanish American Civic Association and SACA Development. The complex public-private financing package includes the Pennsylvania Department of Community & Economic Development Building PA loan, facilitated by EDC Finance, an Economic Development Administration grant from the US Commerce Department; a New Market Tax Credit investment through Community First Fund; support from the City of Lancaster through the City Revitalization & Improvement Zone Authority; and lending from Fulton Bank.

2016 EDC & EDC Finance Corp. Annual Report

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2016 EDC BOARD OF DIRECTORSChair James D. Warner, CEO Lancaster County Solid Waste Management Authority

Vice Chair E. Philip Wenger, Chairman and CEO Fulton Financial Corporation

Essam Abadir, Group Manager and Director, CEO Aspire Ventures

Dr. John M. Anderson, President Millersville University of Pennsylvania

Michael W. Brubaker, CEO, Blackford Ventures, LLC

Troy A. Clair, President & CEO, Clair Global

Steven G. Cook, Business Development Director, UGI Utilities, Inc.

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, LLC

James R. Hoehn, President PNC Bank Central PA Region

Robert M. Krasne, Chairman & CEO Steinman Communications | LNP Media Group, Inc. Vice Chairman, The Steinman Foundation

Craig L. Kauffman, Regional President BB&T – Central Pennsylvania

Robert P. Macina, Executive Vice President, CAO & General Counsel, Lancaster General Health/ Penn Medicine

Dr. Carl Strikwerda, President, Elizabethtown College

Rupert H. Taylor III, Executive Vice President Warfel Construction Company

Ex Officio Thomas T. Baldrige, President & CEO The Lancaster Chamber of Commerce & Industry

Ex Officio Cathy Rychalsky, Executive Director Lancaster County Workforce Development Board

EMERITUS DIRECTORSGibson E. ArmstrongNancy ArnoldThomas BeemanRobert S. BolingerDr. Joseph A. CaputoNevin CooleyMark GainerRobert C. GrayJohn M. HallgrenAlexander Henderson, IIICalvin G. HighRandall HorstDavid KellerCalvin E. LevisJohn LevistskiW. Kirk LiddellJessica H. MayGene MooreTimothy W. PetersR. Scott Smith, Jr.Kenneth G. StoudtDaniel C. Witmer

2016 EDC FINANCE CORPORATION BOARD OF DIRECTORSChair Betty K. Tompos, VP for Finance & Administration, Thaddeus Stevens College of Technology

Vice Chair Michael R. Carper, President & CEO Housing Development Corporation/MidAtlantic

Jeffrey S. Bleacher, Managing Partner Ross Buehler Falk & Company

Joan M. Brodhead, EVP & COO, Community First Fund

Joshua D. Cohen, Esq., Attorney/Member McNees Wallace & Nurick LLC

Michael W. Davis, Partner, Barley Snyder

Patrick M. Egan, CEO & Founder Select Security

Jennifer D. Goldbach, Vice President of Business Development, Rhoads Energy

R. Edward Gordon, Executive VP & CFO Wohlsen Construction Company

Robert W. Heiserman, Jr., Broker/Owner Donegal Real Estate

Brett D. Jackson, Partner Brubaker, Connaughton, Goss & Lucarelli, LLC

Charlotte A. Katzenmoyer, Director of Public Works City of Lancaster

Mark Lauriello, President & CEO Rettew Associates, Inc.

Craig Lehman, Commissioner, County of Lancaster

Michael P. Peachey, Partner, Acuity Advisors & CPAs

Robert C. Shoemaker, Project Executive Lancaster City Alliance

2016 BOARDS OF DIRECTORS

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2016 EDC FINANCE LOAN COMMITTEEChair Michael R. Carper, President & CEO Housing Development Corporation/MidAtlantic

Vice Chair Robert C. Shoemaker, Project Executive Lancaster City Alliance

Jeffrey S. Bleacher, Managing Partner Ross Buehler Falk & Company

Patrick M. Egan, CEO & Founder, Select Security

Michael T. Garrity, Owner, Waveland Properties

Jennifer D. Goldbach, Vice President of Business Development, Rhoads Energy

Roger M. Guttridge, Retired, M&T Bank

Robert W. Heiserman, Jr., Broker/Owner Donegal Real Estate

Mark P. Lauriello, President & CEO Rettew Associates, Inc.

Michael P. Peachey, Partner, Acuity Advisors & CPAs

Betty K. Tompos, VP for Finance & Administration, Thaddeus Stevens College of Technology

Bernie I. Tucker, Owner Tucker Industrial Liquid Coatings

2016 FOUNDATION OF THE EDC BOARD OF DIRECTORSChair James D. WarnerVice Chair E. Philip WengerJohn D. CoxMark C. FitzgeraldEarl A. FurmanRobert M. KrasneDr. Carl Strikwerda, Ph.D.

AUDIT COMMITTEEChair R. Joe Crosswhite, Regional President M&T Bank

Jeffrey S. Bleacher, Managing Partner Ross Buehler Falk & Company

Steven G. Cook, Business Development Director UGI Utilities, Inc.

Jennifer D. Goldbach, Vice President of Business Development, Rhoads Energy

Edward Monborne, CEO, RKL LLP

INVESTMENT & FINANCE COMMITTEEChair R. Edward Gordon, Executive VP & CFO, Wohlsen Construction Company

Michael G. Fessler, Manager – Regulatory Affairs UGI Utilities, Inc.

Rupert H. Taylor III, Executive Vice President Warfel Construction Company

E. Philip Wenger, Chairman & CEO Fulton Financial Corporation

Ex Officio Betty K. Tompos, VP for Finance & Administration, Thaddeus Stevens College of Technology

Ex Officio James D. Warner, CEO, Lancaster County Solid Waste Management Authority

LANCASTER COUNTY BOROUGH INITIATIVELisa Boyd, Borough Manager, Strasburg Borough

James Cowhey, Executive Director Lancaster County Planning Commission

Rebecca Denlinger, President Rising Tide Collaborative

Michael Hession, Borough Manager, Denver Borough

Roni Ryan, Borough Manager, Elizabethtown Borough

Dean Severson, Director of Planning Lancaster County Planning Commission

Robert C. Shoemaker, Project Executive Lancaster City Alliance

Matthew Sternberg, Executive Director, Lancaster County Housing & Redevelopment Authorities

Robert Thompson, Borough Manager Ephrata Borough

EDC & EDC FINANCE CORPORATION STAFFLisa D. Riggs, President

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, Economic Development Loan Officer

Matthew W. Langen, Administrative Assistant

Jean K. Rehrig, Funding & Servicing Manager

2016 EDC & EDC Finance Corp. Annual Report

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EDC BUDGET $1.18 MILLION

REVENUE EDC Finance Corp. Administration Fee 48% Membership 40%Sponsorship/Events 5%Grants/Restricted 4%Public Sector 3%

EXPENSESEDC Finance Personnel 50%EDC Personnel & Programs 41%Professional Fees 5%Administration 4%

EDC FINANCE CORPORATION BUDGET $860,000

REVENUELoan Commitment & Servicing Income 97%Other Income 3%

EXPENSESPersonnel 72%Professional Services 17% Administration/Operations 11%

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2016 EDC & EDC Finance Corp. Annual Report

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LEADER $50,000+

FOUNDER $30,000 - $49,999

DEVELOPER $15,000 - $29,999

PARTNER $7,500 - $14,999

2016 EDC MEMBERSHIP

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MEMBER $3,500 - $7,499Barley Snyder

BFW Group

Donegal Mutual Insurance Group

Dutchland

Eurofins Lancaster Laboratories

Flyway Excavating

Franklin & Marshall College

HACC - Lancaster Campus

Horst Group

Irex Corporation

City of Lancaster

Lancaster County Housing & Redevelopment Authorities

Lancaster Regional Medical Center/Heart of Lancaster

McNees Wallace & Nurick

Millersville University of Pennsylvania

Nikolaus & Hohenadel

Oak Tree Development Group

Professional Design & Construction

Providence Engineering Corporation

Rettew Associates

Thaddeus Stevens College of Technology

Union Community Bank

Warfel Construction Company

Wohlsen Construction Company

ASSOCIATE $1,750 - $3,499Abel Construction Company

Acuity Advisors and CPAs

Appel & Yost

Aspire Ventures

August Mack Environmental

Beers + Hoffman Architecture

Benchmark Construction Company

Bertz, Hess & Company

B.R. Kreider & Son

Brook Farms Development II

Brown Schultz Sheridan & Fritz

Brubaker Connaughton Goss & Lucarelli

Burle Business Park

Carel USA

Certified Carpet

Clair Brothers Audio Systems

Clair Global

Commercial & Industrial Real Estate Council/LCAR

Conewago Industrial Park

Conrad Siegel Actuaries

David Miller/Associates

DenTech

The Drogaris Companies

Eastern Alliance Insurance Group

EHD

EHD Advisory Services

ELA Group

Elizabethtown College

Ephrata Borough

Ephrata National Bank

First National Bank

Hamilton Precision Metals

Integrity Bank – A Divison of S&T Bank

Kellogg Company

Martin Insurance Company

Murray Securus

Murry Management Company

Northwest Bank

Orrstown Bank

Paul Risk Associates

Penn Cinema Management Company

Pine Hill Manufacturing

Realty Settlement Services

Refreshing Mountain Retreat & Adventure Center

RGS Associates

Rhoads Energy Corporation

Rhoads & Sinon

Ross Buehler Falk & Company

Santander

School District of Lancaster

Sechan Electronics

Select Security

Simon Lever

Stoner

TriStarr

Trout, Ebersole & Groff

Versatek Enterprises

The Walz Group

The Wenger Group

SUPPORTER $500Borough of Columbia

Community First Fund

Discover Lancaster

East Hempfield Township

Elizabethtown Borough

Ephrata Economic Development Corporation

Harrisburg International Airport

Housing Development Corporation/MidAtlantic

Kutztown University SBDC

The Lancaster Chamber of Commerce & Industry

Lancaster City Alliance

Lancaster County Career & Technology Center

Lancaster County Workforce Development Board

Borough of Lititz

Manheim Area Economic Development Corporation

Manheim Township

Masonic Villages at Elizabethtown

Borough of Millersville

Mount Joy Borough Authority

SCORE

FARM PARTNER $250John & Susan Howard Farm

Silver Run Farm

Star Rock Farms

2016 EDC & EDC Finance Corp. Annual Report

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2016 Annual Meeting SponsorHigh Companies

2016 SPONSORS

CHAMPION $5,250

BENEFACTOR $2,750

ADVOCATE $1,250

2016 EDC & EDC Finance Corp. Annual Report

115 East King StreetLancaster, PA 17602

717-397-4046 | edclancaster.com