Following the launch of IEDC’s new strategic plan, a Governance Review Task Force of the Board of Directors reviewed IEDC’s governance structure and membership engagement opportunities. This review included benchmarking against other organizations and a deeper look at creating new areas of participation and engagement for members. The Governance Review Task Force also looked at all functions within IEDC’s Governance structure ensuring clear lines for approvals and information sharing up to the board while maintaining flexibility and a variety of engagement opportunities for members across the organization.
The Task Force developed an advisory committee charter which clarifies their purpose and functions of advisory committees, along with redefining other existing committees and reporting structures, creating more clarity and defining different levels of engagement.
This new governance structure meets the needs of the organization and aligns with the strategic plan priorities. It includes a diverse array of voices and perspectives and maximizes efficiencies for members, leaders, stakeholders and the IEDC team while creating clarity around roles and functions of various levels of governance for the organization.
The IEDC Board of Directors approved these changes during its meeting at the IEDC Annual Conference in September for implementation in 2025. The following is a summary of the changes.
To better align with the three strategic plan priorities and guiding principles of IEDC, the Board approved creating a fourth Board Standing Committee and realigned/renamed the other three committees to create clear functions between the committees and transparent reporting and oversight structures for advisory committees. Each standing committee and advisory committee will have a marketing/branding aspect where the committee champions storytelling and brand awareness in each of their respective program areas. Standing Committees are comprised only of IEDC Board Members.
Stakeholder Engagement Standing Committee (Priority Area 1 – Impact on the Individual and Organization).
Future of Economic Development Standing Committee (Priority Area 2 – Impact on the Profession).
Global Community and Awareness Standing Committee (Priority Area 3 – Impact on the Global Community)
Organizational Excellence Standing Committee (Priority Area 4 – Organizational Excellence)
Advisory Committees will now fall within the three strategic plan priority areas and their aligned standing committee. Subcommittees, task forces or working groups listed under any advisory committee are suggestions and will not be codified by this proposal.
Priority 1 – Impact on the Individual and Organization: Enhance the stakeholder experience by providing world-class professional development, networking and customer service.
Priority 2 – Impact on the profession: Drive the future of economic development profession with visionary thought leadership, insights and career awareness
Priority 3 – Impact on the Global Community: Impact on the Global Community: Strengthen the landscape of economic development through public policy, storytelling, capacity building and customized solutions.
Other possible Task Forces, Working Groups, Communities of Practice or Affinity Groups that may be established in the future include: