ED Now

IEDC's Accredited Economic Development Organization (AEDO) program recognizes organizational excellence in the areas of internal and external operations, structures, and procedures. This series profiles recently accredited AEDOs, putting some of economic development's highest-performing organizations in the spotlight. This edition: Economic Development Alliance for Jefferson County (Ark.).

IEDC’s 2022 Leadership Summit will be held January 30 to February 1 in Coachella, Calif. Here are some of the exciting economic development-related projects happening in the Coachella Valley. Riverside County The COACHELLA VALLEY ARENA is a $250-million, 44-acre entertainment development that will be home to the American Hockey League Firebirds, offer more than 200 sports and concert events, and have a $32-million annual impact on the region. The DESERT INTERNATIONAL HORSE PARK has expanded with 20,000 horses on site and $3.5 million in prize money which will generate more than $20 million in local economic impact. The THERMAL BEACH CLUB is a proposed private surf park-anchored development on 2K acres of land with a 22-acre ...

The legal cannabis industry in the United States now supports 321,000 full-time jobs in 37 states. More than 77,000 legal cannabis jobs were added in 2020, and there are now more legal cannabis workers than electrical engineers, EMTs and paramedics, and dentists. The legal cannabis industry thrived in 2020 in spite of, and likely because of, the COVID-19 pandemic. Americans spent $18.3 billion on legal cannabis products, a 71 percent increase from 2019. Regular customers also spent an average of 33 percent more per month. Despite the industry’s impressive growth, racial and gender disparities remain. Black Americans make up 13 percent of the nation’s population, but represent less than 2 percent of cannabis business owners. ...

U.S. marijuana growers are producing the most sought-after cannabis in the world, but federal law is preventing the industry from taking advantage of global markets. As a result, Canada has emerged as the leading exporter in a global industry estimated to reach $14.9 billion in sales last year, reports the Washington Post. U.S. growers have earned an international reputation for developing potent and safe products — including oils, tinctures and edibles, as well as flowers — due to the strict quality and safety regulations imposed by states that have legalized recreational or medical marijuana. As long as marijuana remains illegal federally, though, the nation’s growers are prohibited from shipping abroad or even to ...

The House last week passed legislation which addresses one of the biggest challenges facing the cannabis industry — access to capital — and also promotes inclusive entrepreneurship. The Secure and Fair Enforcement (SAFE) Banking Act, which would provide protections to financial institutions that work with cannabis businesses, passed the House on a bipartisan basis and represented the first-ever vote on a stand-alone cannabis bill. The measure still faces an uncertain future in the Senate, however. Only about one in 30 banks or credit unions currently does business with a cannabis company. Many are so concerned about risk and reputation they won’t even work with those tangentially related to the cannabis industry. This ...

The expanding U.S. cannabis market has been a boon to many workers and state economies, but the industry still faces numerous challenges around regulation, taxation, and acceptance.