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Laborers' Economic Development Corporation

Laborers' Economic Development CorporationWho?

The Laborers’ Economic Development Corporation (LEDC) formally known as Laborers’ Advancing Community Enrichment (LACE), an affiliate of the Laborers’ International Union of North America, Midwest Region, is a not-for-profit corporation created in 2014 to promote economic development in low-income communities, the prevention of community deterioration; the creation, rehabilitation and preservation of affordable residential properties in low-income communities; the creation and preservation of jobs in low income communities through economic development; and the cooperation with other non-profit organizations to promote these purposes.

Board of Directors

The LEDC Board of Directors is comprised of the following:

Midwest Regional Manager of the Laborer’s International Union of North America: John F. Penn (Board President)
Southwest Laborer’s District Council Business Manager: Reno Hammond
Eastern Missouri Laborer’s District Council Business Manager: Gary Elliott
Western Missouri & Kansas Laborer’s District Council Business Manager: Tim Bell
Indiana Laborer’s District Council Business Manager: David Frye
Great Plains Laborer’s District Council Business Manager: Charlie Shempf
Southern & Central Laborer’s District Council Business Manager: Clint Taylor
Southwestern Illinois Laborer’s District Council Business Manager: Glyn Ramage
Representative of Low-income Advisory Board Committee: Randy Harris

Low-income Advisory Board:
Ellen Schanzle-Haskins, Illinois Coalition Against Domestic Violence
Randall Harris, United Way of Greater St. Louis
Emily Timm, Workers Defense Project
John Pettis, Jr., Oklahoma Institute of Minority Affairs

What?

Offering options for providing equity and lower cost financing for commercial development and business expansion in low income comunities.

Find more information here on the New Market Tax Credit with this mapping tool!

How?

Utilizing the New Market Tax Credit (NMTC) Program created in 2000 by the Community Renewal Tax Relief Act of 2000. The program is jointly administered by the Community Development Financial Institutions Fund (CDFI Fund) and the Internal Revenue Services (IRS). The NMTC Program uses federal tax incentives to attract private capital into operating businesses and real estate in urban and rural low-income communities (LIC).

Where?

LEDC currently is authorized to offer NMTC’s in Illinois, Texas, Oklahoma and these six Counties in Missouri. (Franklin, Jefferson, Lincoln, St. Charles, St. Louis and Warren.)

John Whalen, Director
This email address is being protected from spambots. You need JavaScript enabled to view it.
Office: 309-821-0335

Springfield Office:
1 North Old State Capitol Plaza, Suite 525
Springfield, IL, 62701
Phone: 217-703-1749

Bloomington Office:
2012 Fox Creek Road
PO BOX 3448
Bloomington, IL 61702
Phone: 309-821-0335
Cell: 309-830-6267
www.midwestlaborers.org