Overview
What is Lubbock Economic Development Alliance?
Lubbock Economic Development Alliance (LEDA) is a nonprofit organization situated in Lubbock, Texas, with a primary focus on fostering economic growth. Their mission involves creating high-quality jobs, investing in new capital improvements, retaining and expanding existing businesses, and enhancing the city's quality of life. During the pandemic, LEDA experienced an influx of interest from companies across the nation, resulting in significant projects such as a $1 billion+ cheese manufacturing facility by LePrino Foods, employing over 600 individuals, and BASF Trait Research expanding their facilities in Lubbock. These developments necessitated road and utility expansions in East Lubbock to support the city's economic growth. LEDA also provides workforce training efforts and resources to local schools to prepare students for the job market and secure good-paying jobs upon graduation. The organization continues to attract business expansion opportunities, positioning Lubbock for significant economic advancements.
Official website here: www.lubbockeda.org
Is Lubbock Economic Development Alliance legitimate?
Lubbock Economic Development Alliance is a legitimate nonprofit organization registered as a 501(c)(4) entity. Lubbock Economic Development Alliance 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: $736,784
Professional Fundraising Fees: $0
Other Salaries and Wages: $524,899
For more financial information, click here
Official website here: www.lubbockeda.org
What is the mission statement of Lubbock Economic Development Alliance?
The Lubbock Economic Development Alliance (LEDA) is committed to promoting economic growth. This is achieved by creating high-quality job opportunities, investing in new capital improvements, retaining and expanding existing businesses, and enhancing the overall quality of life in the community. During the pandemic, LEDA saw a surge of interest from companies nationwide, leading to significant projects such as the establishment of a large-scale cheese manufacturing facility by LePrino Foods, employing over 600 individuals. LEDA also worked with Basf Trait Research to expand their facilities, making Lubbock a key research hub in Basf's crop production system. These projects necessitated road and utility expansions in East Lubbock to support the city's economic growth. LEDA has also invested in workforce training by providing new technical equipment to local schools, preparing students for the job market upon graduation. With ongoing interest in business expansion, LEDA continues to meet with national and international companies to consider setting up shop in Lubbock.
Official website here: www.lubbockeda.org
Who is the CEO of Lubbock Economic Development Alliance?
John Osborne is the Ceo of Lubbock Economic Development Alliance. The CEO's salary of Lubbock Economic Development Alliance is $331,582 and their total compensation is $364,789.
Official website here: www.lubbockeda.org
What is the revenue of Lubbock Economic Development Alliance?
Lubbock Economic Development Alliance's revenue in 2022 was $10,240,082.
Official website here: www.lubbockeda.org
Who are the executives of Lubbock Economic Development Alliance and what are their salaries?
The average compensation at Lubbock Economic Development Alliance during 2022 was $97,053. There are 13 employees and 10 volunteers at Lubbock Economic Development Alliance.
Here are 16 key members and their salaries (Lubbock Economic Development Alliance's CEO's salary is $331,582 and their total compensation is $364,789):
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- Compensation: $331,582
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- Compensation: $183,227
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- Compensation: $149,379
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- Other: $16,725
- Compensation: $118,599
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- Other: $20,718
- Compensation: $106,568
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- Other: $23,173
- Compensation: $102,759
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- Other: $14,192
Official website here: www.lubbockeda.org
Where can I find the form 990 for Lubbock Economic Development Alliance?
Lubbock Economic Development Alliance's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lubbockeda.org
Learn more at the official website: www.lubbockeda.org
Mission Statement of Lubbock Economic Development Alliance
The Lubbock Economic Development Alliance, a prominent organization, is committed to fostering economic growth. It aims to create high-quality job opportunities, invest in new capital improvements, retain and expand existing businesses, and enhance Lubbock's overall quality of life. This mission is essential in driving the local economy forward, attracting businesses, and improving the living standards of the community.
During the pandemic, the Alliance demonstrated its resilience and adaptability. It experienced a surge of interest from companies across the nation, leading to significant developments. One of the most notable achievements was the location of a $1 billion+ cheese manufacturing facility by LePrino Foods, which will employ over 600 individuals. This project represents the largest private capital investment in Lubbock's history. Additionally, BASF Trait Research expanded and remodeled their facilities nearby, positioning Lubbock as a key research hub within BASF's crop production system.
These companies' selection of Lubbock required the Alliance to extend roads and utilities in East Lubbock, supporting the growth of the Lubbock economy in that area of the city. The Alliance also prioritized workforce training efforts, providing new technical training equipment to local school districts and investing in secondary schools to ensure that high school students are well-prepared for either continuing their education or securing good-paying jobs upon graduation. As a result, interest in business expansion to Lubbock remains strong, and the Alliance continues to collaborate with national and international companies considering expansion into the Lubbock market.
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Impact
October, 2024
The Lubbock Economic Development Alliance (LEDA) plays a crucial role in fueling the economic growth of Lubbock, Texas. By creating high-quality jobs and facilitating significant capital investments, LEDA directly enhances the local economy and quality of life for its residents.
One of the most significant projects facilitated by LEDA is the establishment of a $1 billion cheese manufacturing facility by Leprino Foods, which is set to employ over 600 individuals. This investment represents the largest private capital project in Lubbock's history and exemplifies the Alliance’s ability to attract major corporations to the area. Additionally, the expansion of BASF Trait Research further emphasizes Lubbock’s role as a key player in agricultural research and innovation.
LEDA’s efforts extend beyond attracting large companies; it is also actively working to enhance the infrastructure needed to support this growth. This includes extending roads and utilities in East Lubbock to accommodate new business operations and support the burgeoning economy in that region.
Workforce development is another critical aspect of LEDA's impact. The organization invests in new technical training equipment for local school districts, ensuring students are equipped with the necessary skills to enter the job market successfully upon graduation. By focusing on both educational readiness and the creation of sustainable employment opportunities, LEDA helps to provide a bright future for the local workforce.
Overall, LEDA's initiatives reflect a commitment to not only attracting new businesses but also ensuring that Lubbock remains an appealing destination for investment and growth, thereby contributing to a thriving community.
This information is meant to be a general summary of Lubbock Economic Development Alliance. 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: $92,136
- Gross Receipts: $10,457,977
Assets and Liabilities:
- Total Assets: $26,107,253
- Total Liabilities: $39,355,901
- Net Assets: -$13,248,648
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Organization Details
Founding Year
2004
Phone
(806) 749-4500Principal Officer
John Osborne
Main Address
1500 BROADWAY 600, LUBBOCK, TX, 79401
Website
www.lubbockeda.orgNTEE Category
Code: S30 - Community improvement
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