What is EEDC?
Edmonton Economic Development Corporation (EEDC) is an organization strategically focused on Edmonton's economic future. Its purpose is to increase the prosperity and quality of life in Greater Edmonton by providing leadership in economic development, marketing Edmonton as a tourist destination and by managing the Shaw Conference Centre (SCC) and Edmonton Research Park (ERP).
What is the role of the EEDC Board?
The volunteer board is comprised of 15 local business leaders appointed by the City of Edmonton. This body guides EEDC's business plans and oversees expenditures. Since EEDC is wholly owned by the City of Edmonton, it must present audited yearly financial statements to City Council, which acts as the sole shareholder on behalf of all Edmontonians.
How is EEDC funded?
EEDC receives its base funding from the City of Edmonton tax levy. In 2008, EEDC received just under $12.5 million from the City of Edmonton. Funding contributions for specific initiatives are also garnered from other public and private partners. Substantial revenues are generated through the SCC and ERP.
How is EEDC structured?
EEDC is structured to provide coherence and leadership for economic development in Greater Edmonton. Since each division serves a similar function, aligning goals under one direction increases the measurable achievements for the region. Significant cost efficiencies are also achieved by having each division under one company umbrella.
Each division of EEDC plays an important role in transforming Edmonton's future economy. EEDC is working to expand knowledge-based industries in the region, such as in the finance, health, and education sectors. The ERP provides incubation services for innovative Edmonton companies working to commercialize their products. The tourism and film industries showcase Edmonton to the world and bring millions of dollars into the local economy each year. The SCC also profiles Edmonton to an international audience and attracts an enormous amount of revenue to the region every year.
Has EEDC always managed the Shaw Conference Centre?
Built as an economic development tool for the region, The Edmonton Convention Centre was renamed Shaw Conference Centre in 1997. This was part of a new corporate sponsorship between EEDC and Shaw Communications. The renaming was part of a 20-year, $5.5 million agreement, which included $500,000 in facility upgrades. In 2008, SCC generated over $44.2 million of economic activity through expenditures by out-of-town guests utilizing the facility, restaurants, hotels, and other local amenities. Because SCC's mandate is to generate new economic activity, its role is complementary to the work of EEDC. Synergies are achieved in the marketing of SCC through Economic and Tourism Development's efforts to increase business travel to the city.
How many people work for EEDC?
About 211 people have permanent full-time positions with EEDC. That includes SCC and ERP management, Economic and Tourism Development Services, administration and support personnel. As well, 95 full-time equivalents work at SCC, providing world-class conference and culinary services.
How does Edmonton benefit from EEDC?
All major cities have an economic development agency. EEDC is focused on creating additional value in Greater Edmonton's economy. A knowledge-based economy protects Edmontonians from the fluctuations of the resource industries and also increases wages and standards of living in Edmonton. EEDC also markets the attributes and attractions of Greater Edmonton to the world, which enhances the city's global stature and recognition.
How does EEDC promote Edmonton?
EEDC takes its role of promoting Edmonton very seriously and is committed to ensuring Edmonton becomes recognized as one of the world's leading mid-sized cities by 2020. Each division of EEDC plays a role in marketing Edmonton as a desirable place to live and do business. For example, the tourism and film industries can reach a broad audience in promoting Edmonton globally. EEDC's integrated marketing, communication and media strategies are aimed at changing attitudes, perceptions, and opinions locally while also exposing Edmonton to the world.
How does EEDC promote economic development?
EEDC strives to be a leader in developing Greater Edmonton's regional economy. The Economic and Tourism Development Division focuses on increasing Edmonton's dynamic labour attraction and productivity improvement initiatives, developing a long-term innovation strategy, and building the foundational supports for a future knowledge-based economy.
For more information please call 780.424.9191, call toll free 1.800.661.6965 or email all enquires to Info@edmonton.com