Richardson Economic Development Department Receives TEDC 2025 Economic Excellence Recognition Award

The Richardson Economic Development Department has received the 2025 Economic Excellence Recognition Award from the Texas Economic Development Council (TEDC). Since 2022, the Economic Development team has brought new initiatives, projects and growth to Richardson.

"This award serves as another testament to the exceptional work of Richardson's Economic Development Department and the continued progress and growth the team drives throughout our city," said Richardson City Manager Don Magner. "Recognition from the TEDC reinforces our commitment to advancing local economic development initiatives and affirms that those efforts are making a meaningful impact within our community and across the state."

The TEDC's Economic Excellence Recognition program highlights economic development organizations that meet a desired threshold of professionalism. Recipients qualify for recognition based on the professional development of their governing board or council, as well as the economic development director and professional staff. Certifications, professional memberships and activities, and organizational effectiveness of the economic development staff also contribute to the qualification standards.

"The TEDC's Economic Excellence Recognition program is one of the ways in which our organization honors the outstanding commitment to excellence of our communities and regions, their leaders and their economic development professionals have toward the professionalization of their economic development efforts," said Carlton Schwab, President and CEO of the TEDC.

Recent Economic Development Department Initiatives
Recent efforts from Richardson's Economic Development team include the ongoing revitalization of The CORE District and Main Street, the growth of The Innovation Quarter and momentum as a leader in capturing large office leases in the DFW area.

Additions in The CORE District have brought new eateries, businesses and services to both residents and visitors. In The IQ®, partners like UT Dallas and Startup Runway have had opportunities to gather, share ideas and innovate. Professional networking has also grown in The IQ® through events such as The IQ® Brew and PM Pints, which connect local business leaders to the community. In office leasing, Richardson captured 32 percent of DFW office lease activity over 50,000 square feet through mid-2025.

All these initiatives were recently highlighted in Richardson's State of the City Address.

Richardson's Economic Development Strategy
Since 2022, Richardson's Economic Development Department has followed a three-pronged approach to revitalizing the city in the wake of the business and economic impacts of COVID-19.

The City's three-pronged approach includes:

• Collaborating with property owners to upgrade amenities,
• Offering tenant improvement grants to make office deals more financially feasible, and
• Targeted redevelopment of specific office properties.

These initiatives are designed to attract and retain businesses and to enhance and carefully redevelop office campuses with a variety of uses to attract new long-term corporate tenants.

About Texas Economic Development Council
The Texas Economic Development Council, established in 1961, is an Austin-based, statewide, non-profit professional association dedicated to the development of economic and employment opportunities in Texas. The TEDC provides information, educational and legislative services to more than 1,000 members. The organization's objective is to support the economic growth of Texas and develop strategies that promote a positive business climate in the state.

https://www.TexasEDC.org

About Richardson, Texas
Located just north of Dallas, Richardson is a culturally diverse community offering a blend of urban amenities with exceptional suburban service. Richardson benefits from being home to The University of Texas at Dallas, a research powerhouse. UT Dallas' influence is felt in the presence of dynamic businesses in sectors such as advanced additive manufacturing, biotechnology, finance, software development and R&D, as well as hosting incubators for entrepreneurial start-ups. Richardson's thriving, innovation-focused economy creates numerous opportunities while also supporting a historically stable local government capable of delivering high quality-of-life and exemplary services for a diverse array of neighborhoods and multi-modal transportation options, enabling easy access to the entire DFW Metroplex. The community is regularly recognized in third-party rankings as one of the best places in the nation to live, raise a family, start a career, go to school, buy a home and retire.

https://www.RichardsonEconomicDevelopment.com