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Dallas Economic Development Corporation outlines mission, staffing and need for sustainable funding
Summary
The Dallas Economic Development Corporation (DEDC) board chair briefed the committee on the organization's formation, staffing and strategic plan; the DEDC reported a one-time city seed of $7 million, a newly hired CEO and ongoing efforts to identify recurring revenue and investor/membership models for long-term sustainability.
John Stevens, chair of the Dallas Economic Development Corporation (DEDC) board, briefed the Economic Development Committee on the new organization’s activities since its late‑2022 creation and the steps the board has taken to stand up operations.
Stevens said the DEDC was established by City Council with formation documents and a one‑time funding commitment. He told the committee the DEDC hired CEO Linda McMahon (who started July 1), established accounting and IT systems, completed an audit and received tax-exempt status, and built a lean staff to begin work on business development, real estate and marketing missions.
“We have put together a strategic plan…
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