Component Units
~ Economic Development Corporation
Economic Development Corporation
The Economic Development Corporation (EDC) was incorporated on April 22, 1998 as a nonprofit governed by Section 4B of the Texas Development Corporation Act of 1979. It is funded by 0.5% sales tax. The corporation promotes and develops new and expanded business enterprises in the City in order to promote and encourage the economic growth of the City and the full employment, welfare, and prosperity of its citizens.
The Economic Development Corporation approves its budget and then submits it to the City Council for approval prior to the Council's approval of the Annual City Budget. The Economic Development Corporation budget is included in the City's Annual Budget book for information and resources purposes but is not considered part of the City's Approved Annual Budget.
In FY2022 the EDC Budget includes funding for marketing, a landscape study for NASA Road 1, holiday decorations, and the Chick-Fil-A tax incentive among other operational expenses.
The following are the FY2022 Board Members for the EDC:
- Bob Warters, President
- Phil Johnson
- Don Matter
- Cindy Harreld-Dewease
- Brandon Billings
- Matt Prior
- Bill Quinn
EDC Bylaws state the Mayor and any three (3) Council positions will be on the EDC.