EDC Lancaster County Updates | June 2018 - Click here if you are having trouble viewing this message.
2018 EDC Member Briefing

EDC hosted its mid-year update, which is an event held exclusively for EDC members.  The briefing, on June 6th was held at Spooky Nook Sports, and focused on EDC’s priorities of business retention and expansion.  Members also heard an update on the progress in building the Center for Regional Analysis, thanks to comments by John Cox, CEO of Turkey Hill Dairy, former EDC Board Chair, who now serves as Chair of the Center’s Advisory Committee. Special thanks to Dan Weinlader, CTO/Co-owner of Superior Tech and VS Networks and John Meeder, President of Meeder Development Corporation, both of whom are leading major investments in Lancaster County, for sharing their experiences of working with EDC and to EDC Board Chair Phil Wenger, Chairman and CEO of Fulton Financial Corporation for kicking off the event. 

 
Select Security Breaks Ground on $5M Headquarters Project
In late May, EDC helped celebrate the groudbreaking of Security Partners mid-Atlantic alarm-monitoring center at 240 North Plum Street in the City of Lancaster.  The project, led by Select Security and Security Partners founder Pat Egan, involves the full renovation of a spectacular 22,000 s.f. building that was constructed in the mid 1800s.  The building will also have offices for Select Security's corporate and finance staffs.  EDC Finance Corporation supported the project by facilitating a $1.92 million PIDA loan through the Pennsylvania Department of Community and Economic Development.
The Hotel Lancaster Announces Full Funding Package
In early June, developer John Meeder announced the advancement of planned renovations to the Hotel Lancaster, which will be rebranded as a Holiday Inn.  The $23.4 million project will include a restaurant at the corner of Queen and Chestnut, an expanded lobby, completed event and banquet space, a refurbished pool and the completion of room renovations.  EDC Finance Corporation provided support to the project by facilitating $6.25 million in loan funding via the Commonwealth Financing Authority's Building PA program, and worked in partnership with Community First Fund, along with several other lenders to make the project a reality.
 
Save the Date
2018 EDC Annual Meeting
November 13th, 2018
7:30 to 9:00 AM
Heritage Ballroom, Lancaster Marriott at Penn Square
Annual Meeting Sponsored by

McNees Wallace & Nurick LLC
EDC Finance Update
Lending Rates
PIDA 15yr: 3.75%
SBA 504 20yr: 5.32%
SBA 504 25yr: 5.75%


Remaining Annual Availability
SBA 504 Refi: $6,600,000