Lake Development Authority

Lake Development Authority, located in Painesville, Ohio, is a Port Authority established in 2007. As a government entity, the Authority employs five individuals and generates an annual revenue of $2.5 million. The Lake Development Authority focuses on promoting projects that generate jobs and enhance the economic well-being of Lake County residents. Utilizing its powers granted under Ohio law, the Authority offers a diverse range of economic development tools, including property acquisition, leasing, and improvement, as well as the issuance of taxable and tax-exempt bonds. Leveraging its tax-exempt status, Lake Development Authority strives to provide development services at a lower cost compared to private institutions. Their services cater to a wide spectrum of clients, encompassing entrepreneurs, corporations, non-profit organizations, and communities. Individuals seeking to connect with Lake Development Authority can visit their website at ldauthority.org.