WEDCO

What WEDCO does

WEDCO (Wayne Economic Development Corporation) is a private, non-profit 501(c)(6) organization founded in 1955 and headquartered in Honesdale, Pennsylvania. It functions as Wayne County's lead economic development entity, operating in partnership with state, county, and municipal government to attract, retain, and grow businesses and to expand the local tax base. The organization is governed by a public-private board, holds Certified Provider status with the Pennsylvania Department of Community and Economic Development (DCED), and serves as Wayne County's point of contact for the PREP (Northeast Partnerships for Regional Economic Performance) network. WEDCO maintains a membership of approximately 200 businesses and operates a small professional staff supplemented by partners including the Wayne Pike Workforce Alliance and the Chamber of the Northern Poconos.

The organization's core asset is the 252-acre Sterling Business & Technology Park in Sterling Township, located approximately 0.6 mile from Exit 17 on Interstate 84. The park contains 23 parcels ranging from 3 to 30 acres, pre-permitted for manufacturing, distribution, assembly, warehousing, and light industrial uses, with central sewer, water, three-phase power, and fiber broadband at the property line. Phase 1 of the park has attracted nearly $10 million in public/private investment, and the park carries a Keystone Opportunity Expansion Zone (KOEZ) designation providing qualifying tenants with state and local tax abatements. WEDCO's second major platform is the Stourbridge Project, a coworking space and business incubator at 646 Park Street in Honesdale that provides free daily workspace, meeting areas, and technology/media equipment (SolidWorks, ARC GIS, ProTools, graphic design and film editing software, 3D printers), with a digital media studio and training room in buildout. Supporting programs include the Wayne County Economic Growth Fund (grants up to $5,000 for eligible projects or $10,000 for eligible loan fees, requiring private match and job creation), the Wayne Pike Workforce Alliance (a Community Education Council connecting employers with training providers), a tiered membership program from $50 to $2,500+ annually, and the Wayne Tomorrow cross-stakeholder strategic visioning initiative.

WEDCO's revenue model combines tiered membership dues, government grants and bond-financed project administration (it has secured $6 million in PA Economic Development Financing Authority bond financing for the Hawley Silk Mill adaptive reuse and $150,000 in federal technology grants for Stourbridge), and transactional revenue from property sales within Sterling. Its go-to-market is direct one-on-one engagement with prospective relocating and expanding businesses, supplemented by membership marketing, the searchable online business directory, signature events (Innovator of the Year Award Luncheon, Annual Meeting, Sustaining Members Luncheon), and Earned Media coverage of project milestones. Notable recent execution includes a 65-acre parcel sale completed in November 2024 to PNK P1 LLC, enabling up to 800,000 SF of new industrial development.

Name

WEDCO

Legal name

Wayne Economic Development Corporation

Website

https://wayneeconomic.com/index.php

Company type

Private

Founded year

1955

Operating status

Operating

Short description

WEDCO is a 501(c)(6) non-profit economic development organization founded in 1955 and headquartered in Honesdale, Pennsylvania. It serves Wayne County by attracting and retaining businesses through Sterling Business & Technology Park, the Stourbridge coworking/incubator, workforce partnerships, and government-funded grant programs.

Ownership category

akta.pro rank

Product category

Economic Development Services

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

akta.pro secondary industry

Employer-Led Workforce Partnerships & Sector Strategies (EDAAAOAB)

Keywords

• Economic development services
• Business incubation services
• Workforce development programs
• Commercial property development
• Community development grants

Headquarters

HQ city

Honesdale

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Membership Fees: Annual membership fees ranging from $50 (Young Entrepreneur) to $2,500+ (Promoter's Club). Members receive preferential referrals, business directory listings, event invitations, and access to business resources.
2. Grants and Government Funding: WEDCO brings in government funding through grants and public-private partnerships. They have garnered nearly $10 million in public/private investment for Phase 1 of Sterling Business & Technology Park and $6 million in bond financing for Hawley Silk Mill project.
3. Property Sales and Development: Revenue from sale of commercial and industrial properties in the Sterling Business & Technology Park, including recent 65-acre property sale completed in November 2024.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

WEDCO is a private non-profit economic development corporation serving Wayne County, Pennsylvania. It operates the 252-acre Sterling Business & Technology Park for industrial/commercial tenants, runs the Stourbridge Project coworking and business incubator in Honesdale, administers the Wayne County Economic Growth Fund grant program, delivers workforce development through the Wayne Pike Workforce Alliance, and offers tiered membership programs for local businesses.

Product overview

WEDCO operates as a single unified economic development organization rather than a platform-based product company. Its core offerings include the Sterling Business & Technology Park (commercial/industrial real estate development), The Stourbridge Project (technology/business incubator with coworking facilities), and the Wayne County Economic Growth Fund (grant financing). These services are supported by workforce development through the Wayne Pike Workforce Alliance, membership programs for local businesses, and the Wayne Tomorrow strategic planning initiative. The organization functions as a 501(c)(6) non-profit focused on business attraction, retention, and community development in Wayne County, Pennsylvania.

Differentiator

Problem solved

Functional benefit

Products and services

• Sterling Business & Technology Park A 252-acre mixed-use business park located in Sterling Township, Wayne County, PA, near Exit 17 on Interstate 84. Zoned for light manufacturing, distribution, professional office, assembly, technology, and light industrial uses. Features central sewer, water, three-phase power, and telecommunications infrastructure with 23 parcels ranging from 3 to 30 acres.
• The Stourbridge Project A coworking space, business incubator, and Entrepreneurial Learning Center located at 646 Park Street in Honesdale, PA. Provides free daily coworking space (10am-6pm), professional workspace, meeting areas, digital media studio, and technology equipment including graphic design software, animation/film editing software, SolidWorks, ARC GIS, ProTools, and 3D printers for rural entrepreneurs and startups.
• Wayne County Economic Growth Fund A grant program providing up to $5,000 for eligible business development projects or up to $10,000 for eligible loan fees. Requires private investment match and job creation commitments. Available to businesses and non-profits undertaking activities that encourage economic growth and job creation in Wayne County.
• Wayne Pike Workforce Alliance A workforce development partnership connecting businesses with educational institutions, training providers, and employment services in Wayne and Pike Counties. Designated as a Community Education Council (CEC) by the PA Department of Education. Connects businesses to school districts, regional higher education, employment services, and customized training programs.
• WEDCO Membership Program Multi-tiered membership program with six levels: Young Entrepreneur ($50/year), Supporting Member ($150/year), Patron Member ($300/year), Sustaining Member ($550/year), President's Club ($1,050/year), and Promoter's Club ($2,500+/year). Benefits include business directory listings, preferential referrals, event invitations, advertising opportunities, networking access, and cooperative marketing program benefits.
• Wayne Tomorrow Initiative A county-wide strategic visioning initiative involving stakeholders to create a shared vision for Wayne County's future development. Workgroups address quality of life, agriculture, business & economic development, sustainability, and education with focus areas including broadband expansion, community hubs, local food systems, and business incubation.

Quantifiable outcome

• 20% annual operating cost savings for manufacturing companies relocating from New York to Wayne County
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

21 partnerships are on record, tiered core and secondary.

• PNK P1 LLCcoreStrategic or Co-development Partner · 1 November 2024PNK P1 LLC purchased 65 acres of property in the Sterling Business & Technology Park from Lehigh Valley Underground LLC in November 2024. The property allows for development of up to an 800,000 SF building for warehousing, distribution, assembly, or manufacturing purposes.
• Lehigh Valley Underground LLCcoreStrategic or Co-development PartnerDeveloper that worked to secure permits and land development plan approvals for the 65-acre property in Sterling Business & Technology Park. Signed sales agreement in March 2022 and identified PNK P1 LLC as end user.
• PREP Network (Northeast Partnerships for Regional Economic Performance)coreStrategic or Co-development PartnerWEDCO is Wayne County's point of contact for the PREP network, a statewide network of partners delivering vital business assistance services across 10 regions of Pennsylvania including one-on-one counseling, specialized workshops, online training, and financial incentives.
• Pennsylvania Department of Community and Economic Development (DCED)coreStrategic or Co-development PartnerState agency that designated WEDCO as a Certified Provider and oversees economic development programs including Keystone Opportunity Zone designations and various incentive programs.
• Ben Franklin Technology Partners NEPsecondaryStrategic or Co-development PartnerRegional advisory board member for Ben Franklin Technology Partners of Northeastern Pennsylvania, which supports technology-based businesses and innovation.
• Northeast Pennsylvania AlliancecoreStrategic or Co-development PartnerRegional economic development organization serving Lackawanna, Luzerne, Monroe, and Wayne Counties. WEDCO is a member and serves on the Executive Committee.
• Penn's Northeast, Inc.secondaryStrategic or Co-development PartnerPublic/private partnership dedicated to assisting businesses interested in locating within Northeastern Pennsylvania. WEDCO is a member.
• Wayne Pike Workforce AlliancecoreStrategic or Co-development PartnerWEDCO spearheaded the creation of this unique partnership of business, education, community, government, employment and economic development entities. Serves as Community Education Council (CEC) by PA Department of Education.
• Pennsylvania Economic Development Association (PEDA)secondaryStrategic or Co-development PartnerProfessional association for economic development practitioners. WEDCO is a member and received the 2018 Project of the Year award for the Stourbridge Project.
• Northeast Economic Developers Association (NEDA)secondaryStrategic or Co-development PartnerProfessional association for economic developers in the Northeast region. WEDCO is a member.
• Greater Honesdale PartnershipsecondaryStrategic or Co-development PartnerOrganization dedicated to promoting economic vitality and quality of life in the Honesdale area. WEDCO is a member.
• The Chamber of the Northern PoconossecondaryStrategic or Co-development PartnerCombined chamber representing Wayne & Pike Counties and the Lake Region. WEDCO works collaboratively on economic development initiatives.
• SEEDS (Sustainable Energy Education and Development Support)secondaryStrategic or Co-development PartnerNon-profit organization focused on sustainable energy education. WEDCO is a member and Jocelyn Cramer serves on their board.
• National Business Incubator AssociationsecondaryStrategic or Co-development PartnerInternational membership organization for business incubators. WEDCO is a member through the Stourbridge Project.
• Lackawaxen-Honesdale Shippers AssociationsecondaryStrategic or Co-development PartnerAssociation supporting freight and shipping needs in the region. WEDCO participates on the board.
• PennDOT Customer Advisory BoardsecondaryStrategic or Co-development PartnerAdvisory board for Pennsylvania Department of Transportation. WEDCO participates to address transportation infrastructure needs.
• Pocono Counties Workforce Investment BoardsecondaryStrategic or Co-development PartnerWorkforce investment board serving Monroe and surrounding counties. WEDCO serves on the Executive Committee.
• Lacawac SanctuarysecondaryStrategic or Co-development PartnerEnvironmental education organization and National Natural Landmark. WEDCO serves as trustee.
• Pennsylvania Film & Media AlliancesecondaryStrategic or Co-development PartnerOrganization supporting film and media industry in Pennsylvania. WEDCO is a member to promote media-related business development.
• Wayne CountycoreStrategic or Co-development PartnerPrimary government partner providing local match funding, support for initiatives like Hawley Silk Mill bond financing, and collaboration on Wayne Tomorrow initiative and economic development projects.
• Sterling TownshipcoreStrategic or Co-development PartnerHost municipality for Sterling Business & Technology Park. Collaborated on land development approvals and permitting for the 252-acre business park.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Ben Franklin Technology Partners of Northeastern Pennsylvania: A regional technology-based economic development organization serving NE Pennsylvania that invests in and supports innovative businesses. Directly comparable as both serve overlapping Wayne County-area technology entrepreneurs and WEDCO sits on its regional advisory board.
• Northeast Pennsylvania Alliance: A regional economic development organization serving Lackawanna, Luzerne, Monroe, and Wayne Counties — directly comparable to WEDCO as a multi-county economic development counterpart that WEDCO is explicitly affiliated with.
• Penn's Northeast, Inc. A public/private partnership dedicated to assisting businesses interested in locating within Northeastern Pennsylvania. Directly comparable as a regional site-selection and business attraction peer that WEDCO is a member of.
• Greater Honesdale Partnership: A Honesdale-area organization dedicated to promoting economic vitality and quality of life. Directly comparable as a local/borough-level economic development peer serving the same downtown market as WEDCO.
• The Chamber of the Northern Poconos: A combined chamber representing Wayne and Pike Counties and the Lake Region. Directly comparable as a business-attraction and member-services peer operating in the same Wayne County geography.
• Susquehanna County Department of Economic Development: A neighboring Pennsylvania county-level economic development organization where WEDCO's Executive Director previously served as Director, helping start 55 new businesses. Directly comparable as a county-level EDC peer in the same region.

Regional players

• Lackawanna County Department of Economic Development: A neighboring county-level economic development organization serving Lackawanna County. Comparable as a regional Pennsylvania county EDC peer that competes for the same relocating employers and sits within the same PREP network.
• Pike County Economic Development Authority: The economic development authority for Pike County, Pennsylvania — the neighboring county to Wayne. Comparable as a regional county-level economic development counterpart working in the same Pocono/Northeast PA market.

Broad incumbents

• Pennsylvania Department of Community and Economic Development: The state-level agency that designates Certified Providers, administers KOZ/KIZ programs, and channels the grant funding WEDCO relies upon. Comparable as the broader incumbent that oversees and funds WEDCO's economic development activities statewide.
• PIDA (Pennsylvania Industrial Development Authority): A state-level financing authority providing low-interest loans for industrial and infrastructure projects. Comparable as a broader state-level incumbent financing mechanism that complements WEDCO's bond-financed projects like the Hawley Silk Mill.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about WEDCO