Lubbock Economic Development Alliance

What it reported doing in 2024

Leda continued to experience a tremendous amount of interest from companies across the country. Leprino foods opened their $1 billion+ cheese manufacturing facility employing over 600 individuals in lubbock. This project is the single largest private capital investment in the history of lubbock. The selection of lubbock for this and other companies has required leda to extend the roads and utilities in east and north lubbock to support the growth of the lubbock economy in that area of the city. In addition to this food production company located in east lubbock, leda assists with the expansion of local businesses across the city. During 2024-2025, leda assisted lubbock in achieving the designation of a 4.2-mile segment of u.s. 87 as part of i-27, which advances the ports-to-plains corridor and strengthens lubbock's role in regional transportation and supporting future economic growth. Leda also partners with the Texas tech university innovation hub accelerator to encourage entrepreneurs to grow their business ideas in lubbock. During the year, leda nominated the city of lubbock for a tedc workforce excellence award for its support of job training in the electrical, plumbing and hvac trades and this project won in its community population category. The lubbock economic development alliance (leda) partnered with the city of lubbock to administer job training activities with the city's american rescue act plan (arpa) funds. Over 100 individuals (students, employees and employers) were supported and positively impacted by these programs in 2024. These are individuals that live in the lubbock community and will use the skills they acquired to increase the number of electricians, plumbers and hvac workers in lubbock's talent pool. Interest in business expansion to lubbock remains strong and the leda sales team continues to meet with national and international companies to consider expansion into the lubbock market. Leda and lubbock are poised to make significant strides in securing a strong work environment in lubbock.

Financial Efficiency

• Mission deployment rate: 53.3%; rating input score 53
• Program expense ratio: 91.8%; rating input score 92
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
• Pay-setting controls: 6 of 6 controls in place; rating input score 100
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 42%; rating input score 42; 10th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 57.5%; rating input score 95; 95th percentile among comparable filings
• Total-asset coverage ratio: 9.02; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.89; rating input score 10; 10th percentile among comparable filings
• Officer compensation ratio: 19.4%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: 10.5% per year; rating input score 100; 72nd percentile among comparable filings
• Revenue growth: 8.3% per year; rating input score 100; 66th percentile among comparable filings
• Asset growth: 10.3% per year; rating input score 100; 66th percentile among comparable filings