Economic Development Corporation of Weslaco

Property management - maintenance of industrial park buildings, roadways, signs and city's infrastructure maintenance and landscaping, including depreciation expense of $160,856

General administration expense $173,567interest on long-term debt $103,379 total $276,946

Economic Development is the purposeful intervention by an entity to encourage private investment in a specific location when it otherwise might not have been made. That encouragement often represents public assistance with a financial value and is popularly referred to as an incentive or inducement. Edc provides loans/ grants to various businesses for creating of jobs through recruiting new industry and/or existing companies relocating and/or expanding.