Economic and Community Development
The mission of the Lowry Crossing EDC is to promote and create purposeful economic growth and enhance community development.
The Princeton Community Development Corporation was incorporated on July 3, 1997. The CDC is a Texas 4B sales tax corporation that is governed by a seven-member board appointed by and serving at the pleasure of the City Council. Funding for the CDC occurs by the city transferring 1/4 sales tax revenues collected by the City of Princeton. The purpose of the CDC is to promote projects to enhance the community and the citizens of Princeton. The 4B expenditures are subject to the provisions of the Development Corporation Act of 1979 and the Local Government Code, Title 12, Subtitle C1. The sales tax enables the City of Princeton to undertake quality-of-life projects and community programs.
The Princeton Economic Development Corporation receives funds from a half-cent sales tax collected for economic development.The purposes for which the Corporation is organized may issue or incur bonds or other obligations on behalf of the city for the promotion and development of commercial, industrial and manufacturing enterprises, promotion, development and expansion of business enterprises, and to promote and encourage employment and public welfare. The Princeton EDC owns a 108 acre Business Park zoned for industrial.
The Business Center offers private office leases and coworking space memberships, as well as hosts various community and business educational opportunities.
Hosted by the Princeton-Lowry Crossing Chamber Foundation through its partnership with the Princeton-Lowry Crossing Chamber of Commerce, The Business Center is designed to become the epicenter of our business community and foster entrepreneurship, economic growth, community education, and local connections.
