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1. What Is Economic Development?

Economic Development usually takes three forms:

• Business Attraction
• Business Retention and Expansion
• Business Creation

All three of the forms seek to create primary jobs that pay more than the average wage, increase the amount of income coming into the community from outside our market area, and create greater capital investment in our community. The goal is to attract a diverse group of industries and businesses to help insulate the community from economic shock in case specific sectors should fall on challenges.

The mission of the Lampasas Economic Development Corporation is to enhance economic opportunities and quality of life for our citizens through strategic business retention and attraction. The LEDC vision is to be recognized as a thriving community with diverse economic opportunities while maintaining our excellent quality of life.

2. Why Does The LEDC Focus On Primary Jobs?

The LEDC is funded by the monies collected through the 4B Sales Tax. This tax was designed to bring higher paying primary jobs and industries into communities and has very specific rules and guidelines for its usage and applications. We are governed by the guidelines found in the State of Texas Attorney General’s Handbook on Economic Development and we must adhere to Article 5190.6, Development Corporation Act of 1979.

3. What is the Lampasas Economic Development Corporation?

The Lampasas Economic Development Corporation, or LEDC, is a group comprised of seven Board members appointed by the Lampasas City Council, who oversee the 4B sales tax proceeds brought into the City. The group consists of a variety of business people and Council members who review expenditures and revenues of the tax dollars.

Very stringent rules and regulations govern the usage of these tax monies, and only “projects” approved by the body, along with the City Council, can be funded with 4B dollars. The main goal, as defined by the State Attorney General, is the creation of “primary jobs.” Allowable projects under 4B that require creation of primary jobs include:

• Manufacturing and Industrial Facilities
• Research & Development Facilities
• Military Facilities
• Transportation Facilities
• Sewage & Solid Waste Facilities
• Recycling Facilities
• Air or Water Pollution Control Facilities
• Distribution Centers
• Small Warehouse Facilities
• Primary Job Training Facilities for Use By Higher Education Institutions
• Regional or National Corporate Headquarters Facilities

Additionally, 4B Corporations may provide land, buildings, equipment, facilities and improvements found by the Board to promote or develop new or expanded business enterprises that create or retain primary jobs, including:

• Public Safety Facilities
• Streets and Roads
• Drainage and Related Improvements
• Demolition of Existing Structures
• General Municipally Owned Improvements

Those endeavors not required to create primary jobs include:

• Job Training Classes
• Infrastructural Improvements That Promote or Develop New or Expanded Business Enterprises
• Career Centers
• Commuter Rail, Light Rail, or Motor Buses
• Professional or Amateur Sports and Athletic Facilities
• Entertainment, Tourist, and Convention Facilities
• Public Parks and Related Open Space Improvements
• Affordable Housing
• Water Supply Facilities
• Water Conservation Programs
• Airport Facilities
• Port-Related Facilities

 More info on 4B Sales Tax can be found here –  https://www.tml.org/legal_pdf/4A-4BSalesTax.pdf