About LEDC

Economic development corporations (EDCs) have the ability to financially assist new and expanding businesses in their community through the Development Corporation Act of 1979. The Littlefield Economic Development Corporation (LEDC) operates on the same founding principles today to serve the businesses and people in our community. 

The LEDC is governed by an executive director and a governing boards. EDCs focus on developing industrial projects such as business infrastructure, manufacturing, or research and development, as well as improvements or development of parks, museums, sporting facilities, and affordable housing. 

Funding

The Littlefield EDC is funded by sales tax revenues. 

Local Sales Tax

The EDC is funded by a half-cent of the local sales tax. In October, they received sales tax funds in the amount of approximately $51,787.11. 

The amount received varies from month to month and is reflective of the local economy. So far this year, sales tax collections have been up, allowing both EDCs to grow their funds. They are budgeted to receive approximately $245,000 this fiscal year, a figure which is considered conservative.

Use of EDC Funds

The EDC Corporation funds the expense of employing an executive director and a marketing director. 

There is an application process to qualify for incentives from the Littlefield EDC. Information and applications can be obtained from the City Manager at 301 XIT Drive.