Council, LEDC agree to new 4-year contract

LONDON, Ont. -- City council has agreed to a new four-year contract with the London Economic Development Corporation (LEDC).

The LEDC is tasked with attacking business investment and jobs to the city.

Earlier this year it faced criticism from several councillors who questioned its effectiveness.

The new contract is valued at $2.2 million a year and includes new metrics that will be reported to city council so they can monitor the LEDC's performance.