The Troy Local Development Corporation (TLDC), a private not for profit corporation, was established in 1987 for the purposes of constructing, acquiring, rehabilitating, and improving buildings or sites in the City of Troy, or to assist financially in the construction, acquisition, rehabilitation, and improvement of buildings or sites within The City, and to foster employment opportunities for Troy residents including, business retention and attraction, and job creation and retention.
The TLDC also serves as a liaison with federal, state, and other local authorities with respect to disseminating information and offering technical advice.
The TLDC has the authority to acquire real or personal property by purchase or lease, borrow funds, provide financial assistance, and issue negotiable bonds, notes and other obligations.
The Board of Directors is comprised of the Chairman, the Troy City Council representative who serves as Chairman of the City Council Planning Committee, the City of Troy Commissioner of Planning, two representatives from the fields of business, industry, or labor, appointed by the Mayor, and the Chairman who is also appointed by the Mayor.