ECONOMIC IMPACT OF LHV
LHV Invests in the Community
The Lackawanna Heritage Valley National and State Heritage Area (LHV) funds projects and programs that stimulate the region’s economic development. These initiatives are investments in Northeastern Pennsylvania that enhance tourism initiatives, strengthen the capacity of community organizations, and increase the quality of life for area residents. LHV requires a dollar-for-dollar (1:1) match for all of its grant awards. In some cases, organizations are able to bring additional matching funds to a project, building on LHV’s initial investment. For example, when LHV awards $5,000 to a project with a total project cost of $15,000, the leverage ratio is 1:3.
In 2010, LHV provided a total of $1,210,786 in funding support for 68 new and ongoing initiatives.
- Of this amount, LHV awarded $83,260 through 43 grants to partners to support projects, programs, and events.
- The total cost for these partner projects was $777,479, creating a leveraging ratio of 1:9. This means that for every $1 that LHV invested in the community, the partner organizations invested $9 of public and private funding.
- In addition, LHV allocated $1,127,526 to support 25 internal projects, including $1,087,825 for the planning, development, construction, and maintenance of the Lackawanna River Heritage Trail, as well as for planning for the Lackawanna Greenway.
The total cost for all 68 projects, including the matching funds raised by partners, was $1,908,807. In addition, $163,787 in goods and services were donated by local businesses to help make these projects a reality.
To learn more about LHV and the projects that it supports, click here to download the 2010 Community Update.
Funding Partners
In 2010, LHV received funding from the National Park Service, as well as from the Pennsylvania Department of Conservation and Natural Resources through the Pennsylvania Heritage Areas Program, the TreeVitalize Metro Program, and the Pocono Forest and Waters Conservation Landscape Initiative. The Pennsylvania Department of Transportation provided funding for the Lackawanna River Heritage Trail through the federal Transportation Enhancements Program. Additionally, LHV received support from First Liberty Bank and Trust, Penn Security Bank and Trust, the Lackawanna County Department of Arts and Culture, and other private sponsors.
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