This content was originally published by the Longmont Observer and is licensed under a Creative Commons license.
On Tuesday night, Longmont City Council unanimously agreed to renew the Longmont Economic Development Partnership's (LEDP) contract with the City of Longmont for 2018.
Under the agreement, the City of Longmont will compensate the LEDP a total of $362,500, distributed over twelve monthly payments of $30,208.
In return for compensation, the LEDP agrees to perform the following services on behalf of the City of Longmont: economic development marketing services, primary employer retention and support, primary employer recruitment, local business support, startup community support, business advocacy, publications, website and social media development, maintenance and distribution, and more (see below PDF).
According to the 2018 agreement, the LEDP, or formerly known as the LAEC, was established after the City of Longmont and the Longmont Area Chamber of Commerce entered into "a Document of Understanding the advisability of establishing an economic development association to promote and stimulate economic development within the City." This occurred on October 14, 1980.
