Richardson is the First Texas City and Second Nationally to Achieve Both the Accredited Economic Development Organization Status and Five-Star Chamber of Commerce Recognition
[Washington, DC] – The International Economic Development Council (IEDC) today announced that the Richardson Economic Development Partnership (REDP) has been recognized as one of only 32 economic development organizations worldwide accredited by IEDC as an Accredited Economic Development Organization (AEDO). Richardson is the first entity in the Dallas/Fort Worth area to earn this accreditation, and stands apart as the only community in Texas – and only the second nationally – to have achieved dual honors through AEDO accreditation and the five-star accreditation earned by the Richardson Chamber of Commerce in 2011.
Earning the AEDO accreditation tells the community and prospects that the REDP has attained a measure of excellence assuring that their trust is well-placed and their business is in good hands.
“This prestigious honor clearly demonstrates that the community’s investment in the Richardson Economic Development Partnership is a sound one,” said Richardson Mayor Bob Townsend. “Based on independent, verifiable feedback from the IEDC, we know that the REDP’s operations, structure, staffing and organization are first-rate. Abundant proof of this fact is also found in the many exciting economic development deals occurring here in recent months. The REDP continues to make Richardson strong and to build a dynamic community for the future.”
The REDP also earned top national honors at last year’s IEDC annual meeting, when it was named the gold medal winner in the High Performance Economic Development category for economic development organizations. REDP attained this status by announcing the most jobs and capital investment created for any organization of its size, the 25,001-100,000 population category, anywhere in the U.S. for 2011-12.
“I am grateful for this prominent acknowledgement of Richardson’s economic development successes,” said Bill Sproull, president and CEO of the REDP. “Thanks to the extraordinary efforts of the entire REDP team, as well as our partners in the community, Richardson has built upon its high-tech heritage and culture of innovation by broadening its technology business into emerging areas such as cloud computing. At the same time, we have strategically diversified our business base and attracted leading global businesses in financial services, healthcare and other sectors. We are also keenly focused on supporting entrepreneurial ventures and attracting top-notch retail options to benefit our community.”
The REDP has been at the forefront of Richardson’s business success for years, becoming one of the first such outsourced, municipal economic development initiatives in Texas. In the past two years alone, the REDP helped the City to launch the Mayor’s Office of International Business; secured legislative recognition for Richardson as the International Business Capital of North Texas; played a key role in the recruitment of the Virtual Computing Environment’s (VCE) headquarters and an expected 434 high-paying jobs to Richardson; assisted in the structuring of an incentives package to retain the headquarters and 1,400 jobs associated with Fossil, Inc.; and led a retail redevelopment initiative that has increased the value of 10 Richardson shopping centers by more than $70 million. Most recently, developer KDC announced plans for a $1.5 billion, mixed-use, transit-oriented development project in Richardson, and insurance giant State Farm confirmed its signing of a 1.5 million-square-foot lease within the KDC project – the largest office lease in the Dallas area’s history.
“The Richardson Economic Development Partnership displays the professionalism, commitment, and technical expertise that is deserving of this honor,” said IEDC President and CEO Jeff Finkle.
The AEDO program is a comprehensive peer review process that measures economic development organizations against commonly held standards in the profession. The program consists of two phases: a documentation review and an onsite visit. Each phase is designed to evaluate information about the structure, organization, funding, programs and staff of the candidate economic development organization.
Maintenance of the AEDO status is required every three years and is accomplished through documentation submission and/or onsite visits by a team of the AEDO subcommittee.
The International Economic Development Council is the largest membership association serving economic and community development professionals in the world. With over 4,600 members nationwide and abroad, IEDC offers the economic development profession one source for information and professional development, one voice for the profession and one force for advocacy. For more information on IEDC or the AEDO program, call Tye Libby at 202.942.9450; fax 202.223.4745; write to IEDC at 734 15th Street NW, Suite 900, Washington, DC 20005; email firstname.lastname@example.org; or visit IEDC’s website at www.iedconline.org.
The Richardson Economic Development Partnership (REDP) is a joint effort of the City of Richardson and the Richardson Chamber of Commerce, dedicated to building a vibrant and thriving local economy by attracting new investment and jobs through marketing, recruitment and working with existing employers. The REDP offers numerous services to companies considering expansion or relocation to the Telecom Corridor® area, including broker and real estate referrals, cost of business analyses, incentives, partner and executive introductions, relocation assistance, site selection, tours and city information. For more information, visit www.telecomcorridor.com.