The mission of the Lorain County Port Authority is to promote economic development by assisting private industries initiatives; by encouraging development and redevelopment; and by promoting investment in business, industrial and transportation projects.
In March 2001, as part of a 4.75 million dollar economic development incentive package, the Lorain County Board of Commissioners created the Lorain County Port Authority (LCPA) and committed 1.5 million dollars toward the creation of a bond reserve fund. In addition, these funds were further supplemented by a 1 million dollar commitment from the Ohio Department of Development; increasing the balance to 2.5 million dollars.
From its inception, the Lorain County Port Authority's goal was to play a valuable role in furthering economic development efforts within Lorain County through the expanded statute flexibility given to Port Authorities. Furthermore, the Lorain County Port Authority realized the need to partner with governmental and private financing sources to assist businesses, institutions and governmental agencies in their expansion and growth efforts.
Tags: Government Organization,Port
Address & Contact
- City:
- Elyria
- State:
- OH
- Zip:
- 44035
- Phone:
- (440) 328-2336
- Website:
- www.lcportauthority.org
- Category:
- Community/Government