Lake Development Authority

What Lake Development Authority does

Lake Development Authority is a public Port Authority operating under Ohio law, established in February 2007 as the Lake County Port Authority and later operating under its current name. Headquartered at 105 Main Street, Painesville, Ohio, the Authority serves as the dedicated economic development arm of the Lake County Board of Commissioners, with a staff of 1-10 employees led by Executive Director Patrick Mohorcic and an eight-member Board of Directors chaired by Art Lindrose. It is built on the statutory Port Authority framework, which confers unique development powers — including the ability to acquire, lease, and improve property, to issue taxable and tax-exempt bonds, and to operate with tax-exempt status — that are not available to private competitors.

The Authority delivers an interconnected portfolio of financial, real estate, and transportation services. Financing products include bond financing and capital lease structures, SBA 504 loans (10% borrower contribution, below-market fixed rates), Ohio 166 loans (up to 40% of project cost), CROP short-term agricultural loans, PACE financing, Enterprise Zone tax exemptions, and Tax Increment Financing. Real estate services comprise Foreign Trade Zone designation, brownfield remediation, an available properties database, and the Countywide Coastal Development Plan. The Authority also directly operates the Lake County Executive Airport (a 380-acre, two-runway Level 1 general aviation reliever airport generating an estimated $9.4 million annually for Lake County with 45,085 annual operations) and co-sponsors the Fairport Harbor deep-water port, which handles 1.9 million tons of cargo annually including limestone, aggregates, ores, and minerals.

As a government entity, the Authority's revenue mechanics differ materially from a private firm: it is funded principally through county appropriations, asset-related lease and concession income, and program administration rather than fee-based product pricing. It functions as a single point of contact, channeling businesses and municipalities to a network of state, regional, and local partners (JobsOhio, Team NEO, Greater Cleveland Partnership, NOACA, Laketran, three Lake County Chambers, and sector-specific organizations such as MAGNET, JumpStart, and BioEnterprise). Its addressable market is geographically bounded to Lake County — Ohio's 11th most populous county with approximately 229,582 residents, 31 miles of Lake Erie coastline, and 600+ manufacturing firms — and the Authority does not pursue external commercial growth beyond this mandate.

Name

Lake Development Authority

Legal name

Lake Development Authority

Website

https://ldauthority.org

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Lake Development Authority is a public Ohio Port Authority serving as the Lake County Board of Commissioners' economic development arm, delivering bond financing, loan programs, tax incentives, real estate services, and operating the county airport and harbor port for Lake County businesses and municipalities.

Ownership category

akta.pro rank

Product category

Government Economic Development Services

NAICS

Port and Harbor Operations (48831), Regulation and Administration of Transportation Programs (92612), Administration of Urban Planning and Community and Rural Development (92512)

SIC

Water Transportation (4400), Non-Operating Establishments (9995)

akta.pro primary industry

Maritime & Port Authorities (Public Ports, Harbors, Ferries Terminals) (BPAIALAF)

akta.pro secondary industries

Public Property & Asset Management (Federal Buildings, Fleet, Land) (BPAIAAAJ), Water Resources Administration (Watersheds, Rivers, Groundwater) (BPAIAMAE)

Keywords

• Economic development services
• Bond financing
• Business loan programs
• Tax incentive programs
• Port authority operations

Headquarters

HQ city

Painesville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure

Revenue model

1. Bond Financing Services: As an Ohio Port Authority, Lake Development Authority promotes economic development by assisting capital investments. They issue taxable and tax-exempt bonds, provide capital lease financing with sales tax exemption savings, and facilitate access to capital markets and other state and local financing sources. Port Authorities themselves are tax exempt, allowing them to provide development services at lower cost than private institutions.
2. Loan Programs: Provides SBA 504 Loans, Ohio 166 Loan Program, and CROP Loans for local businesses. SBA 504 conserves working capital with 10% borrower contribution and below-market fixed interest rates. Ohio 166 finances up to 40% of project costs at below-market rates. CROP Loans provide short-term financing for Agri-Businesses with maximum 1-year terms.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Lake Development Authority is an Ohio Port Authority that delivers economic development services to businesses and municipalities in Lake County, Ohio. Its core offerings include bond financing and capital lease structures, SBA 504, Ohio 166, and CROP loan programs, tax incentive programs (Enterprise Zone, TIF, PACE), property services (Foreign Trade Zone, brownfield remediation, available properties database), and management of transportation infrastructure including Lake County Executive Airport and Fairport Harbor Port.

Product overview

Lake Development Authority is an Ohio Port Authority (established February 2007) providing economic development services through a portfolio of interconnected financing, property, and transportation services. Core offerings include bond financing and capital lease structures, loan programs (SBA 504, Ohio 166, CROP Loans), tax incentive programs (Enterprise Zone, TIF, PACE), real estate services (Foreign Trade Zone designation, brownfield remediation, available properties), and infrastructure management (Lake County Executive Airport and Fairport Harbor Port). The Authority serves as the single point of access for businesses to connect with municipal, county, and state economic development resources.

Differentiator

Problem solved

Functional benefit

Products and services

• Bond Financing Taxable and tax-exempt bond issuance for infrastructure projects, land acquisition, construction, and building renovation, enabling sales tax savings through capital lease structures. Available to businesses undertaking capital investments in Lake County, Ohio.
• SBA 504 Loan Program Small Business Administration 504 loan program requiring only 10% borrower contribution, conserving working capital with below-market fixed interest rates, available to local businesses undertaking capital investments.
• Ohio 166 Loan Program State-funded loan pool financing up to 40% of total project cost at fixed, below-market interest rates for business capital investments (except retail) in Lake County.
• CROP Loan Program Lake Development Authority's short-term financing program for agro-businesses in Lake County, covering seasonal operating needs such as inventory, supplies, and payroll with maximum 1-year terms.
• PACE Financing Property Assessed Clean Energy financing for energy efficiency upgrades or renewable energy installations, providing low-cost long-term fixed rate financing repaid through property tax assessments.
• Ohio Enterprise Zone Program State-administered economic development tool providing real property tax exemptions to businesses making investments in designated enterprise zones within Lake County.
• Tax Increment Financing (TIF) Economic development mechanism financing public infrastructure improvements by directing increased assessed property value payments toward separate funds for public infrastructure construction.
• Foreign Trade Zone Restricted-access U.S. site legally outside customs territory for duty-free goods entry, reducing, deferring, or eliminating duties and merchandise processing fees for businesses in Lake County.
• Brownfield Remediation Environmental assessment and remediation funding for previously developed commercial or industrial properties affected by contamination, managed through Ohio's Brownfield Remediation Program.
• Available Properties Database Database of available sites and buildings in Lake County for businesses looking to locate or expand operations.
• Coastal Development Plan Countywide shoreline development strategy implementing public access enhancements and Lake Erie-related tourism and private investment opportunities.
• Lake County Executive Airport Public use, Level 1 general aviation reliever airport on nearly 380 acres with two runways, serving general aviation aircraft and charter jets and providing $9.4 million annually to Lake County.
• Fairport Harbor Port Deep-draft commercial harbor handling 1.9 million tons of cargo annually including limestone, aggregates, ores, and minerals, facilitating domestic and foreign maritime traffic for businesses such as Morton Salt, Carmuse Lime and Stone, RW Sidley, and Osborne Concrete and Stone.

Quantifiable outcome

• $9.4 million annual economic contribution from Lake County Executive Airport
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

19 partnerships are on record, tiered core and minor.

• JobsOhiocoreStrategic or Co-development PartnerPrivate nonprofit corporation designed to drive job creation and new capital investment in Ohio through business attraction, retention and expansion. Provides customized site selection services, state-level incentive packages, and talent acquisition services.
• Team NEOcoreStrategic or Co-development PartnerBusiness and economic development organization focused on accelerating economic growth and job creation throughout the 18 counties of Northeast Ohio. Provides variety of resources and experienced staff.
• Lake County Chambers of CommercecoreStrategic or Co-development PartnerThree autonomous chambers in Lake County including Eastern Lake County Chamber (700 businesses), Mentor Area Chamber (700 businesses), and Willoughby Area Chamber serving multiple communities.
• Innovation Fund AmericaminorGTM or Marketing PartnerRegional fund supporting technology-based entrepreneurial endeavors with awards up to $100,000 to promising tech start-ups in Northeast Ohio's 21 counties.
• Manufacturing WorksminorStrategic or Co-development PartnerProvides Northeast Ohio manufacturers with guidance and knowledge on technology trends, talent, and organizational leadership for over 30 years.
• BioEnterpriseminorStrategic or Co-development PartnerBusiness formation, recruitment, and acceleration initiative designed to grow healthcare companies and commercialize bioscience technologies.
• MAGNET (Manufacturing Advocacy & Growth Network)minorStrategic or Co-development PartnerNonprofit organization dedicated to helping manufacturers compete and grow, providing consulting services for efficiency and growth strategies.
• JumpStartminorStrategic or Co-development PartnerWorks with high-potential, technology-based startups to develop products and move them into market, paired with successful entrepreneurs.
• OhioMeansJobsminorStrategic or Co-development PartnerCollaborative partnership bringing workforce development resources together for employers and job-seekers in Lake County.
• Greater Cleveland PartnershipminorStrategic or Co-development PartnerMembership association of Northeast Ohio companies with over 14,000 members, focusing on economic development, infrastructure, minority business development, and advocacy.
• Leadership Lake CountyminorStrategic or Co-development PartnerPrivate educational non-profit established in 1986 providing leadership development programs for professionals to students, developing civic and economic excellence.
• YBI (Young Business Incubator)minorStrategic or Co-development PartnerHelps accelerate emerging businesses by providing commercialization assistance, marketing counseling, funding resources, networking, and physical infrastructure.
• Port Authority of Eastlake OhiominorStrategic or Co-development PartnerRegional port authority partner in the Lake County Ports network.
• Fairport Harbor AuthorityminorStrategic or Co-development PartnerHarbor authority partner managing operations at Fairport Harbor port facility.
• CSXminorStrategic or Co-development PartnerClass I railroad providing land-side transportation infrastructure facilitating freight movement in Lake County.
• Norfolk SouthernminorStrategic or Co-development PartnerClass I railroad providing land-side transportation infrastructure facilitating freight movement in Lake County.
• Grand River RailwayminorStrategic or Co-development PartnerRegional railway service facilitating transportation by land in the Grand River area of Ohio.
• LaketranminorStrategic or Co-development PartnerLake County's regional public transportation system serving over 750,000 riders annually with local routes, dial-a-ride, and commuter park-n-ride services.
• NOACA (Northeast Ohio Areawide Coordinating Agency)minorStrategic or Co-development PartnerTransportation and environmental planning agency representing officials in Cuyahoga, Geauga, Lake, Lorain and Medina counties for transportation, air quality, and water quality needs.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Greater Cleveland Partnership: Northeast Ohio membership association of more than 14,000 companies focused on economic development, infrastructure, and advocacy. Comparable as a regional economic development entity with overlapping business attraction and policy advocacy functions.
• JobsOhio: Private nonprofit state economic development corporation driving job creation and capital investment across Ohio. Comparable as a strategic partner with overlapping business attraction, retention, and incentive programs but operating at a statewide scale.
• Ohio Port Authority: State-level entity with broader Ohio-wide scope and a wider portfolio of bond financing and development programs. Comparable as a fellow Ohio Port Authority but with materially larger scale and broader geographic mandate.

Direct peers

• Toledo-Lucas County Port Authority: Ohio Port Authority operating the Port of Toledo and similar economic development, financing, and property programs. Directly comparable in terms of statutory powers, financing tools, and the combination of port operations with broader county economic development mandates.
• Cleveland-Cuyahoga County Port Authority: Ohio Port Authority managing the Port of Cleveland along with economic development and bond financing programs. Comparable in mission, governance structure, and use of port authority powers to drive regional economic development.
• Port of Greater Cincinnati Development Authority: Ohio Port Authority providing economic development, real estate, and infrastructure services in the Greater Cincinnati region. Comparable as a county-level Ohio Port Authority with overlapping use of bond financing, property acquisition, and development powers.

Emerging players

• Team NEO: Business and economic development organization covering 18 counties in Northeast Ohio. Comparable as a regional economic development partner with overlapping site selection, business attraction, and incentive packaging services.

Regional players

• NOACA (Northeast Ohio Areawide Coordinating Agency): Transportation and environmental planning agency covering Cuyahoga, Geauga, Lake, Lorain, and Medina counties. Comparable as a regional planning partner that influences transportation infrastructure, air quality, and water quality policy affecting Lake County.
• Erie County Port Authority: Ohio Port Authority serving Erie County with similar economic development and waterfront infrastructure programs. Comparable as a small Ohio Port Authority with overlapping lake-side development and financing mandates.

Others

• Lake County Board of Commissioners: Parent government entity that established Lake Development Authority and oversees its strategic direction. Comparable as the governing body that controls funding, policy, and leadership appointments for the Authority.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lake Development Authority