Texas Economic Development Council (TEDC) Market Research Report

Background

Overview

The Texas Economic Development Council (TEDC) is a non-profit professional association based in Austin, Texas, dedicated to fostering economic and employment opportunities across the state. Established in 1961, TEDC has grown to become the largest state association of economic development professionals, volunteers, and elected officials in the United States. Its membership comprises over 1,000 individuals representing more than 630 public and private economic development organizations, including over 400 communities.

Mission and Vision

TEDC's mission is to provide leadership for the economic development of Texas, aiming to bring new investment and jobs to the state by promoting a positive business climate. The organization envisions a thriving Texas economy supported by a collaborative network of economic development professionals and stakeholders.

Primary Area of Focus

TEDC focuses on enhancing economic development through various programs and services, including conferences, educational and certification programs, mentorship and leadership initiatives, resources, publications, and advocacy efforts. These initiatives are designed to support the professional growth of its members and the economic prosperity of Texas.

Industry Significance

As the largest state association of economic development professionals in the nation, TEDC plays a pivotal role in shaping economic policies, fostering business growth, and facilitating collaboration among stakeholders to drive economic development in Texas.

Key Strategic Focus

Core Objectives

Advocacy: Serve as the legislative voice for economic development in Texas, engaging in lobbying, bill-tracking, and personal representation on legislative issues.

Professional Development: Offer training, certification, and leadership programs to enhance the skills and effectiveness of economic development professionals.

Membership Engagement: Maintain and support an engaged membership by providing resources, networking opportunities, and platforms for collaboration.

Specific Areas of Specialization

Economic Development Policy: Influence and advocate for policies that promote a positive business environment and economic growth in Texas.

Educational Programs: Provide workshops, webinars, and courses to equip members with the latest knowledge and skills in economic development.

Leadership Initiatives: Develop programs like the Future Leaders Training Program and the Mentorship Program to cultivate leadership within the economic development community.

Key Technologies Utilized

TEDC leverages digital platforms for webinars, online courses, and virtual conferences to facilitate education and networking among members. Additionally, the organization utilizes data analytics tools to track legislative developments and measure the impact of its advocacy efforts.

Primary Markets or Conditions Targeted

TEDC primarily targets economic development professionals, volunteers, and elected officials across Texas. The organization also engages with businesses and communities seeking to enhance their economic development initiatives.

Financials and Funding

Funding History

As a non-profit organization, TEDC's funding is derived from membership dues, event fees, sponsorships, and grants. The organization has experienced steady growth in membership and program offerings, reflecting its expanding influence and the value it provides to its members.

Total Funds Raised

While specific financial figures are not publicly disclosed, TEDC's diverse revenue streams and large membership base suggest a robust financial position.

Notable Investors

TEDC's funding sources include a wide range of stakeholders, such as local and regional economic development organizations, private sector companies, and government entities committed to economic development in Texas.

Intended Utilization of Capital

Funds are allocated towards program development, member services, advocacy efforts, and operational expenses to support TEDC's mission and objectives.

Pipeline Development

As a professional association, TEDC does not have a product pipeline in the traditional sense. Instead, the organization focuses on developing and enhancing programs and services that support economic development professionals and communities in Texas.

Technological Platform and Innovation

Proprietary Technologies

TEDC utilizes a member portal for resource sharing, event registration, and networking. The organization also employs a content management system to maintain its website and disseminate information to members.

Significant Scientific Methods

TEDC employs data-driven approaches to assess the effectiveness of its programs and advocacy efforts, utilizing surveys, feedback mechanisms, and performance metrics.

Leadership Team

Carlton Schwab – President/CEO

Carlton Schwab has been serving as the President/CEO of TEDC since February 1, 1999. Under his leadership, the organization has grown to over 1,000 members and has become a recognized leader in the professional development of economic development professionals in Texas. Prior to joining TEDC, Schwab was Director of Development at the LBJ School of Public Affairs at the University of Texas at Austin and served as a Director with Deloitte Consulting.

Amy Swank – Chief Operating Officer

Amy Swank joined TEDC in October 2006 and has played a key role in shaping the organization's programs and services. She manages new member onboarding, conference planning, and oversees finance and budgeting. Swank was promoted to Chief Operating Officer in 2023.

Matt Abel – Vice President of Government Relations

Matt Abel joined TEDC in July 2024 and advocates for the interests of TEDC members in legislative and regulatory environments. Before joining TEDC, Abel was the primary staff member for healthcare, energy, and employment relations issues at the Texas Association of Business.

Jessica DeLeon – Director of Administration

Jessica DeLeon joined TEDC in June 2024 and oversees the management of various workshops and the Political Action Committee. She is also responsible for accounts payable, banking, and provides administrative oversight of the council’s operations.

Competitor Profile

Market Insights and Dynamics

The economic development sector in Texas is dynamic, with numerous organizations working to attract and retain businesses, promote job creation, and enhance the state's economic competitiveness. TEDC's role as a professional association differentiates it from other entities that may focus more directly on business attraction or community development.

Competitor Analysis

While TEDC does not have direct competitors, it collaborates with various organizations, including the Texas Economic Development Corporation (TxEDC), which markets Texas as a premier business location, and local economic development corporations that focus on regional development.

Strategic Collaborations and Partnerships

TEDC collaborates with several key organizations to fulfill its mission, including:

Texas Economic Development Corporation (TxEDC): A public-private partnership responsible for marketing and promoting Texas as a premier business location.

Governor’s Office of Economic Development and Tourism: Works closely with TEDC to ensure Texas remains the top state for business.

Texas Workforce Commission: Partners with TEDC to support workforce development initiatives.

Operational Insights

TEDC's strategic considerations include maintaining a diverse membership base, enhancing member engagement, and effectively advocating for policies that support economic development in Texas. The organization leverages its extensive network and resources to provide value to its members and the broader Texas economy.

Strategic Opportunities and Future Directions

TEDC's strategic roadmap focuses on:

Expanding Membership: Attracting a broader range of economic development professionals and organizations to strengthen the association's influence.