Laborers’ Economic Development Corporation
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 Vice Chairman: Brandon Flinn
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: Anthony Penn
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
Offering options for providing equity and lower cost financing for commercial development and business expansion in low-income communities.
Find more information here on the New Market Tax Credit with this mapping tool!
The New Market Tax Credit (NMTC) Program, created in 2000 by the Community Renewal Tax Relief Act of 2000, 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).
Proposals for LEDC consideration can be submitted via this form.
LEDC currently is authorized to offer NMTC’s in Illinois, Texas, Oklahoma and six counties in Missouri: Franklin, Jefferson, Lincoln, St. Charles, St. Louis, and Warren.
1 North Old State Capitol Plaza, Suite 525
Springfield, IL, 62701