Economic Development Now

Does your organization have what it takes to be EDO of the Year? IEDC is accepting submissions for the 2023 Excellence and Leadership in Economic Development Awards. The following EDOs were honored in 2022.

Gold award winner

Greater New Orleans, Inc.

Greater New Orleans, Inc. is the regional economic development nonprofit organization serving the 10-parish region of Southeast Louisiana that includes Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Tammany, Tangipahoa, and Washington parishes. Its mission is to create a region with a thriving economy and an excellent quality of life—for everyone.

The ultimate indication of GNO, Inc.’s success will be the presence of a robust, accessible, and growing middle class in Southeast Louisiana where future generations can live and prosper. To achieve this goal, GNO, Inc. pursues a two-pronged strategy:

• Business Development Attract: Retain and develop the businesses that will employ the future workforce and drive the economy forward.

• Business Environment: Propose, promote, and facilitate policies and programs that improve the overall conditions under which businesses operate.

GNO, Inc. works together with the business community, local, state, and federal governments, and other regional stakeholders to coordinate, consolidate, and catalyze action on key issues and opportunities that maximize job and wealth creation and retention, are relevant to the region as a whole, and create systematic impact. From workforce development and fiscal reform to coastal stabilization and criminal justice reform, pooling efforts toward mutually beneficial outcomes can produce a whole that is greater than the sum of its parts.

Silver award winners

Investissement Québec

Investissement Québec is a government corporation that plays an active role in Québec’s economic development, providing creative solutions for businesses, and guiding them in their development.

The corporation works in partnership with members of the financial ecosystem to foster business innovation, support entrepreneurship and business succession, increase investment, and accelerate exports.

Investissement Québec has a network of offices located across Québec’s administrative regions. They provide personalized financing and investments to support the development of businesses of all sizes as well as cooperatives and social economy enterprises.

The corporation also offers consulting services to help businesses manage their industrial innovation and digital transformation processes, providing them with access to the technological support they need to boost their productivity, competitiveness, and environmental performance.

Investissement Québec’s international arm works to attract foreign talent and investment to Québec, and assists Québec businesses that are looking to grow and diversify their exports. To that end, it maintains a global presence through teams working out of Québec’s network of government offices in six Canadian cities and 19 countries around the world.

Tulsa (Okla.) Regional Chamber

Tulsa’s Future is the Tulsa (Okla.) Regional Chamber-led regional economic development partnership. Tulsa’s Future works with the City of Tulsa, Tulsa County, more than 200 private investors, and numerous regional and tribal partners to further economic prosperity in the Tulsa region. Since its inception, Tulsa’s Future has supported the creation of more than 72,000 jobs and more than $4.2 billion in capital investment.

Bronze award winners

Economic Development Council of St. Lucie County (Fla.)

Founded in 2000, the Economic Development Council of St. Lucie County (Fla.) is a private nonprofit organization dedicated to promoting economic vitality in St. Lucie County through the attraction, retention, and expansion of businesses in the community. The EDC works in partnership with local governments and the private sector to advance its goals of creating high-value, high-paying jobs for residents, broadening the tax base, and improving St. Lucie County’s economic quality of life.

St. Lucie County was one of the hardest-hit regions during the Great Recession; as early as 2010, one in every 19 homes in the MSA was in foreclosure (#16 of RealtyTrac’s top 25 worst cities for foreclosures). Tax collections plummeted as home values sank, and unemployment topped 14%.

Now, just a decade later, an analysis by the Economic Strategy Center of 46 EDC projects announced from 2017 to mid-2021 demonstrated the addition of 10,205 jobs and an economic impact of $1.855 billion in total output in the county, where the 2019 GDP was $8.43 billion.

Since 2016, the EDC has also taken a leadership role in addressing workforce readiness challenges and opportunities, and has recently begun a similar collaborative effort to tackle the problem of affordable workforce housing—an issue that had not impacted the county until recently.

Invest Newark (N.J.)

Invest Newark (N.J.) is a 501(c)(3) nonprofit corporation and acts as the primary economic development catalyst for Newark.

Invest Newark’s mission is to propel the city’s strong and diverse economy, build vibrant communities, and create opportunities for all Newarkers. Invest Newark also aims to develop Newark’s middle class. Invest Newark supports small minority- and women-owned businesses (MWBE), invests in world-class internet service, spurs real estate development, and executes economic development activities to produce and sustain equitable economic growth, generate jobs, and create wealth for the citizens of Newark. Invest Newark delivers business development programs to Newarkers to help them become (1) Financially Literate; (2) Professionally Legitimate; and (3) gain Access to Capital and Contracts.

Greater Sacramento (Calif.) Economic Council

The Greater Sacramento (Calif.) Economic Council (GSEC) is a public-private partnership that unites business and community leaders to create one cohesive regional economic development strategy with a focus on growth, sustainability, equity, and competitiveness. GSEC’s mission is to catalyze growth, prosperity, and equity in the Greater Sacramento region.