Overview
What is Market Lubbock Economic Development Corporation?
Market Lubbock Economic Development Corporation, based in Lubbock, Texas, serves as a driving force to fortify investment in downtown and East Lubbock. They accomplish this by offering a reimbursement grant program and actively promoting Lubbock as an enticing city for work, living, and leisure. In collaboration with the city and Texas Tech University, they participate in initiatives like the TTU Innovation Hub and provide financial aid to Lubbock Economic Development Alliance, thereby contributing to economic growth and quality of life in the area. Moreover, Market Lubbock manages the operations of Visit Lubbock, encompassing the Convention and Visitors Bureau and Lubbock Sports. Their primary mission is to stimulate and encourage economic development, job creation, and the establishment of new industries. They achieve this by overseeing the operations of Visit Lubbock and Foreign Trade Zone 260, attracting events and conventions to the city, which in turn benefits local businesses and the community as a whole.
Official website here: www.visitlubbock.org
Is Market Lubbock Economic Development Corporation legitimate?
Market Lubbock Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Market Lubbock Economic Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,219,969
For more financial information, click here
Official website here: www.visitlubbock.org
What is the mission statement of Market Lubbock Economic Development Corporation?
The Market Lubbock Economic Development Corporation's mission is focused on fostering and promoting economic growth and job creation. It aims to encourage the development of new industries and manage operations related to tourism and sports events. In 2021-2022, the corporation collaborated with the city to strengthen investment in specific areas like downtown Lubbock and East Lubbock, offering reimbursement grant programs. Additionally, they worked on increasing awareness of Lubbock as an attractive location for work, living, and leisure through targeted marketing efforts. They also partnered with the city and Texas Tech University, participating in initiatives such as the TTU Innovation Hub and providing economic development and quality of life enhancements through grants to the Lubbock Economic Development Alliance.
Official website here: www.visitlubbock.org
Who is the CEO of Market Lubbock Economic Development Corporation?
John Osborne is the Ceo of Market Lubbock Economic Development Corporation. The CEO's salary of Market Lubbock Economic Development Corporation is $0 and their total compensation is $364,789.
Official website here: www.visitlubbock.org
What is the revenue of Market Lubbock Economic Development Corporation?
Market Lubbock Economic Development Corporation's revenue in 2022 was $9,055,238.
Official website here: www.visitlubbock.org
Who are the executives of Market Lubbock Economic Development Corporation and what are their salaries?
The average compensation at Market Lubbock Economic Development Corporation during 2022 was $50,832. There are 24 employees and 10 volunteers at Market Lubbock Economic Development Corporation.
Here are 18 key members and their salaries (Market Lubbock Economic Development Corporation's CEO's salary is $0 and their total compensation is $364,789):
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- Related: $331,582
- Other: $33,207
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- Related: $183,227
- Other: $22,664
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- Related: $149,379
- Other: $16,725
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- Related: $118,599
- Other: $20,718
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- Related: $106,568
- Other: $23,173
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- Related: $102,759
- Other: $14,192
- Compensation: $106,180
- Related: $0
- Other: $14,100
- Compensation: $102,855
- Related: $0
- Other: $14,282
Official website here: www.visitlubbock.org
Where can I find the form 990 for Market Lubbock Economic Development Corporation?
Market Lubbock Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.visitlubbock.org
Learn more at the official website: www.visitlubbock.org
Mission Statement of Market Lubbock Economic Development Corporation
Market Lubbock Economic Development Corporation's mission is centered around enhancing and encouraging economic development and job creation, as well as facilitating the development of new industries. In pursuit of this mission, the corporation manages and oversees the operations of Visit Lubbock and Foreign Trade Zone 260. Visit Lubbock encompasses the operations of the Convention and Visitors Bureau and Lubbock Sports. The corporation works in collaboration with the city of Lubbock, providing reimbursement grant programs to strengthen investment in downtown and East Lubbock. Market Lubbock also increases awareness of Lubbock as a desirable location for work, living, and play through targeted marketing efforts. They partner with the city and Texas Tech University, participating in initiatives such as the TTU Innovation Hub and grants to Lubbock Economic Development Alliance, aiming to bring economic development and improve the quality of life in the city. Through Visit Lubbock, the corporation contracts with meeting planners, convention organizers, and sports event organizers, bringing conventions and events to Lubbock that have a significant economic impact on the community by driving visitors to stay in hotels, dine at restaurants, and shop at local businesses.
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Impact
October, 2024
Market Lubbock Economic Development Corporation plays a vital role in fostering economic growth and job creation in Lubbock, Texas. Its initiatives focus on enhancing investment in key areas such as downtown and East Lubbock, utilizing a reimbursement grant program to stimulate development. By actively promoting Lubbock as an attractive place to work, live, and play, the organization engages in targeted marketing efforts to elevate the city's profile.
Collaborations with local entities, including the City of Lubbock and Texas Tech University, reflect a commitment to advancing innovation and economic development. The involvement in projects like the TTU Innovation Hub and grants to the Lubbock Economic Development Alliance underscores this focus on creating new industries and enhancing the quality of life in the community.
Market Lubbock also significantly impacts tourism and local businesses through its management of the Convention and Visitors Bureau and Lubbock Sports. By attracting conventions and sports events, it generates substantial economic activity, contributing to hotel stays, restaurant patronage, and shopping at local businesses. Overall, Market Lubbock serves as a catalyst for sustainable economic improvement and community enrichment in the Lubbock area.
This information is meant to be a general summary of Market Lubbock Economic Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $58,969
- Program Service Revenue: $51,005
- Gross Receipts: $9,055,238
Assets and Liabilities:
- Total Assets: $11,036,152
- Total Liabilities: $1,085,897
- Net Assets: $9,950,255
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET SALES
Revenue
$43,865
PROMOTIONAL ITEMS
Revenue
$7,140
Organization Details
Founding Year
1995
Phone
(806) 749-4500Principal Officer
John Osborne
Main Address
1500 BROADWAY 600, LUBBOCK, TX, 79401
Website
www.visitlubbock.orgNTEE Category
Code: S30 - Community improvement
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