What is the WCEDC?

The WCEDC is a public/private partnership that addresses all facets of economic development at the county level. While the most visible (and often most publicized) side of economic development is new industry attraction, the leadership of WCEDC is committed to the premise that existing industry development is just as important, if not more so, to our mission of promoting the economic health of our county. The Wood County Economic Development Commission was incorporated as an Ohio non-profit corporation on March 22, 1993. It was also determined as a 501(c)(6) corporation by the Internal Revenue Service.

The Wood County Economic Development Commission is the vehicle for the unified countywide effort promoting the economic health of Wood County communities and businesses. This is done through two-way communication, constant networking with businesses to strengthen the economic climate of the county, the retention of existing industry, and the systematic recruitment of new businesses to stimulate and insure the area's continued and orderly growth.

As a public/private partnership, the Wood County Economic Development Commission is funded through two distinct funding sources - one public, one private.

Our public sector revenue source is through a countywide conveyance fee which has been earmarked for economic development purposes by the Wood County Commissioners. Formally known as the Real Property Transfer Tax, county commissioners are empowered by ORC 322.02 to collect such a fee (up to 30 cents per $100) from the seller's proceeds when a piece of real property changes hands or is conveyed  in the county. Section 322.03 further empowers county commissioners to allocate such funds for any purpose for which general fund moneys of the county may be used.

After conducting the statutory two public hearings on the subject in January of 1993, the Wood County Board of Commissioners enacted Resolution No. 93-288 which raised Wood County's real Property Transfer Tax from 20 cents per $100 to 30 cents, with the additional 10 cents earmarked for economic development activities. The following July, the Wood County Commissioners, through Resolution No. 93-1673, entered into an agreement with the newly incorporated Wood County Economic Development Commission by which the funds so designated would be transferred to the WCEDC on a monthly basis. Such monies were to be allocated first to the WCEDC's operating account, in the amount necessary to meet the WCEDCs budget.

Any amount in excess of the budget and reasonable operating reserves was to go into an Economic Development Government Equity (EDGE) account. This account was to be used for special projects relating to economic development and judged to be of significant merit to be so funded by an EDGE Committee. The EDGE Committee consists of the President, Vice President, Secretary, and Treasurer of the WCEDC along with four individuals designated by the County Commissioners. In practice these have been the President and Vice President of the Board of County Commissioners, the County Auditor, and the director of the County Planning Commission.

In that same agreement, the leadership of the WCEDC agreed to take responsibility for raising funds from the private sector on an annual basis. These, in the form of membership dues, constitute our private sector funding source. These funds are accounted for separately from the public funds and are used for various marketing and promotional activities for which public funds may be less appropriate.