It was incorporated in October 1998 as a Type A Corporation and is funded by a portion (1/2 cent) of the local sales tax revenue. The Type A sales tax is primarily intended for manufacturing and industrial development.
EDC's may use Type A revenue to fund land, buildings, equipment, facilities expenditures, targeted infrastructure and improvements for projects including:
manufacturing and industrial facilities, recycling facilities, distribution centers, and small warehouse facilities;
research and development facilities, regional or national corporate headquarters facilities, primary job training facilities operated by higher education institutions, job training classes, telephone call centers and career centers not located within a junior college taxing district;
certain infrastructure improvements that promote new or expanded business enterprises;
commuter rail, light rail or commuter bus operations;
port-related facilities, rail ports, rail switching facilities, marine ports, inland ports; and
maintenance and operating costs associated with projects.