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About: Economic development corporation     Goto   Sponge   NotDistinct   Permalink

An Entity of Type : yago:Wikicat501(c)(3)NonprofitOrganizations, within Data Space : dbpedia.org associated with source document(s)

Type: yago:Abstraction100002137yago:Act100030358yago:Administration101135952yago:Event100029378yago:GroupAction101080366yago:Management101133281yago:NonprofitOrganization101137597yago:Organization101136519yago:PsychologicalFeature100023100yago:YagoPermanentlyLocatedEntityorganisationyago:SocialControl101123598yago:Wikicat501(c)(3)NonprofitOrganizations New Facet based on Instances of this Class

An economic development corporation ("EDC") is an organization common in the United States, usually a 501(c)(3) non-profit, whose mission is to promote economic development within a specific geographical area. These organizations are complementary to Chambers of Commerce. Whereas a Chamber of Commerce promotes the interests of businesses in a particular geographic area, an EDC typically focus on longer-term economic growth by attracting new businesses. Generally, an EDC can be found at the state level to attract business to a particular state. The state level EDC often works closely with local EDCs and may offer low interest loans, grants, tax credits and other economic incentives to attract businesses.