Multi-year economic impact of Momentum earns IEDC’s gold award
ROUND ROCK, Texas – The Round Rock Chamber today announced it has received a Gold Excellence in Economic Development Award for its Economic Impact Analysis of Public-Private Program Funding – Momentum, a project in the category of Multi-Year Economic Development from the International Economic Development Council (IEDC).
The honor was presented at an awards ceremony on Tuesday, October 2, during the IEDC Annual Conference in Atlanta, Georgia.
“Receiving international recognition for a successful five-year project is very humbling and could not have been accomplished without the leadership of former Mayor Alan McGraw and Jim Boles, Momentum 3 chair,” said Ben White, the chamber’s vice president of economic development. “The catalyst behind Round Rock’s success, and its promise for an even brighter future is in the economic development partnership between the City of Round Rock, Momentum investors, and the Round Rock Chamber.”
Last, year the Round Rock Chamber released the results of an economic impact analysis that evaluated its economic development project wins from 2012 to 2017. The analysis, which was performed by Impact DataSource, looked at the performance of the chamber’s work through Momentum, its five-year public-private partnership that funds its economic development efforts. During the time period analyzed (2012-2017), the chamber successfully completed fifty economic development projects.
- Through 2017, those projects will generate an economic impact of $2.4 billion annually.
- The total number of jobs created directly, indirectly, or through induced behavior was 8,273 for a cumulative workers’ earnings of approximately $1.4 billion.
- The additional revenue for the community’s three main taxing entities during the four-year analysis period equals over $53 million.
- For every $1 in Momentum funding, $5,411 in economic output was produced.
- One new job was created per year with every $827 in Momentum funding.
As the economic-generation leader of Round Rock, the chamber’s mission is to create a climate of growth, opportunity, and success within Round Rock. The economic development efforts play a vital role in the local economy by growing local enterprises, expanding and diversifying the existing economic base, broadening the tax base, and attracting and retaining sustainable, well-paying jobs.
“This year our judges reviewed some extraordinary projects that advanced both communities and businesses. We congratulate all the award winners, and thank everyone who nominated their projects for sharing their success with fellow IEDC members. What we learn from each other helps us to grow and advance as a profession. We look forward to even greater participation from economic developers across the globe in the 2019 awards program,” stated Craig Richard, CEcD, FM, President and CEO, Tampa Hillsborough Economic Development Corporation located in Tampa, Florida, and 2018 IEDC board chair.
About the Round Rock Chamber
The Round Rock Chamber is the economic generator for its thriving community. Honored with the 2018 Chamber of the Year Award by the Association of Chamber of Commerce Executives for its work in the Eight Pillars of Economic Generation and for its operational excellence, the chamber is the catalyst for building prosperity in Round Rock. The chamber initiates programs that create a dynamic business climate and improved quality of life through innovative community partnerships and invested business leaders. For more information visit, roundrockchamber.org
About the International Economic Development Council
The International Economic Development Council (IEDC) is the world’s largest membership organization for economic development professionals. Economic developers promote economic well-being and quality of life in their communities by creating, retaining, and expanding jobs that facilitate growth and provide a stable tax base. From public to private, rural to urban, and local to international, our members represent the entire range of economic development. Learn more at iedconline.org.