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INTR OD UCTION TO L 0 CAL <br />ECONOMIC DEVELOPMENT' <br />Diep mn CasI i <br />For-Profit: A corporation formed to develop and, sell industrial land, and/or provide financing <br />for business development wit1fin 1I Local "investors can buy shares that can be paid <br />n dividends fi-orn profits made on po 41 ects. Money "invested 'in corporations can be repaid to the <br />rj <br />stockholders. The, board is made up ofshareholders, and may or may not', have staff. The <br />corporation is subject to federal, and state *income tax., <br />Non-Proirit: A corporation formed to developi and sell industrial land and/or provide financ' 9 <br />'imuni, <br />for busmfficss, development', in the con tyl. Shares are sold or funds may be ra'sed. in, other <br />ways., No dividends are paid. on shares. The non-profit corporation must obtain either 501 (e)(3) <br />. ........... .......... -- ........ . ...... <br />