REDP earns prestigious reaccreditation from International Economic Development Council
The International Economic Development Council (IEDC) has once again recognized the Richardson Economic Development Partnership (REDP) as one of only 68 economic development organizations to have earned Accredited Economic Development Organization (AEDO) status.
AEDO status positions the REDP among the top 1% economic development organizations overall and makes the REDP one of only 10 Texas economic development agencies to have achieved such recognition. The REDP first received the coveted status in 2012, and successfully renewed it in 2016.
Richardson is also the only community in Texas, and only the second nationally, to have achieved the dual honors of AEDO accreditation and five-star accreditation of its chamber of commerce from the U.S. Chamber of Commerce.
“The city and chamber staffs’ extraordinary efforts, and the creation and implementation of purposeful economic development programs, have again helped Richardson earn this esteemed national recognition,” said Richardson Mayor Paul Voelker. “Reaccreditation is a statement to our community and future business prospects that the REDP has maintained a standard of excellence few others have and remains on a strong, upward trajectory for economic development.”
Among other important achievements in recent years, the REDP’s support of the Richardson Chamber of Commerce’s Collins/Arapaho Task Force helped Richardson develop and launch an innovation district, the Richardson Innovation Quarter, in the heart of Richardson’s historic Telecom Corridor® area. Modeled after highly successful projects in Barcelona, Boston and other major cities around the world, this premier hub for technology-oriented innovation and entrepreneurship will be a future economic development driver that forges beneficial partnerships while fueling dynamic job growth and strategic redevelopment to ensure Richardson’s vibrant future.
Additionally, last year alone, the REDP reported 31 corporate expansion and relocation projects yielding Richardson more than 700,000 square feet of office leases, more than 380,000 square feet of flex leases and a new, 870,000-square-foot Texas Instruments semiconductor fabrication plant. All together, these projects are expected to result in more than 3,100 new Richardson jobs and 634 retained Richardson jobs.
“The REDP is proud to once again receive this prestigious accreditation,” said REDP President and CEO Bill Sproull. “Building on the hard work and dedicated efforts of the entire REDP team and numerous community partners, Richardson continues to be lauded as one of the nation’s premier locations for business innovation thanks in large part to a vibrant and diverse corporate community, easily accessible pipeline of talent and highly acclaimed quality of life. This AEDO recognition provides assurance to our local partners, as well as prospects worldwide, that Richardson truly is a great place to do business.”
The AEDO program is a comprehensive peer review process that measures economic development organizations against commonly held standards in the industry. The program consists of two phases: a documentation review and an onsite visit, which was conducted virtually this year due to the pandemic. Each phase is designed to evaluate information about the structure, organization, funding, program and staff of the candidate economic development organization. “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 International Economic Development Council is the largest membership association serving economic and community development professionals in the world. With more than 5,000 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, please contact AEDO Program Manager Dana Crater at 910-821-9245 or email@example.com, or visit IEDC’s website at http://www.iedconline.org/AEDO.
About the Richardson Economic Development Partnership
The Richardson Economic Development Partnership (REDP), a joint effort of the City of Richardson and the Richardson Chamber of Commerce, is 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 international and domestic business relocation assistance and professional service provider referrals, site selection, broker and real estate referrals, cost of business analyses, incentives, partner and executive introductions, tours and city information. For more information, visit www.telecomcorridor.com.