The International Economic Development Council (IEDC) is a non-profit membership organization serving economic developers. With more than 5,000 members, IEDC is the largest national and global organization of its kind. IEDC is located in Washington, D.C., and is governed by a Board of Directors and by the President and CEO, currently Jeffrey A. Finkle, CEcD. As a

501(c)(3) A 501(c)(3) organization is a United States corporation, trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of the 29 types of 50 ...

nonprofit organization, IEDC is legally barred from endorsing political candidates and may only engage in limited lobbying activities. IEDC's strategic directives include the core topics of

globalization Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20t ...

sustainability Specific definitions of sustainability are difficult to agree on and have varied in the literature and over time. The concept of sustainability can be used to guide decisions at the global, national, and individual levels (e.g. sustainable livi ...

entrepreneurship Entrepreneurship is the creation or extraction of economic value. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...

, and economic restructuring. IEDC works with communities and economic development organizations to weave these core topics into pertinent economic development projects, such as community revitalization, business development, and

job creation Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the referen ...

nationwide and abroad.

Background

The IEDC was created as a result of a merger between the Council of Urban Economic Development (CUED) and the American Economic Development Council (AEDC) in May 2001. Both AEDC and CUED were organizations that were formed as a result of efforts by businessmen and civic leaders. Founders came from the railroad utilities, and the public and private sectors. Despite their diverse backgrounds and professional experiences, founders of each organization shared a common passion to develop their cities and communities into vibrant places to live and do business. The AEDC had been operating in various forms since 1926 with focus on industrial development. AEDC had been linked to the Economic Development Institute (EDI) since the early 1960s, with the focus on training and development for economic development as a profession. Notably, AEDC's education initiatives developed professionalism in the field, fostered the sharing of best practices among economic developers and cultivated an expertise among those in the profession. AEDC members offered their services around the world in order to encourage the use of common economic development tools internationally. AEDC traditionally had a high representation of members from the American South, and a large contingent of Canadian members that concentrated on forging ties with the private sector. The CUED originated as "Helping Urban Business", or the HUB Council, in 1966. It changed its name to CUED in 1974. The founding of the CUED followed the civil disturbances/

urban riots Riots often occur in reaction to a perceived grievance or out of dissent. Riots may be the outcome of a sporting event, although many riots have occurred due to poor working or living conditions, government oppression, conflicts between races or r ...

in Watts in Los Angeles and other cities like Detroit, Newark and Washington. These disturbances further weakened the position of many urban economies, as manufacturing and commercial businesses increased their exodus to the suburbs and outer transportation corridors. The CUED's primary objective was to develop an urban policy for

economic development In the economics study of the public sector, economic and social development is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and o ...

. In 1968, the

Economic Development Administration The U.S. Economic Development Administration (EDA) is an agency in the United States Department of Commerce that provides grants and technical assistance to economically distressed communities in order to generate new employment, help retain exist ...

(EDA) provided the CUED with a grant for technical assistance, information, and research. From its early days, CUED established itself as a go-to organization for research and technical assistance on federal programs like the

Community Development Block Grant The Community Development Block Grant (CDBG), one of the longest-running programs of the U.S. Department of Housing and Urban Development, funds local community development activities with the stated goal of providing affordable housing, anti-po ...

(CDBG) Program and the UDAG Program and played an important role in helping to develop strong economic development policies.

Members

As the world's largest membership organization serving the economic development profession, IEDC members represent the entire range of economic development experience. Members come from the public and private sectors and rural and urban areas throughout the globe. IEDC members promote economic development through the auspices of local, state, provincial and federal governments, public-private partnerships, chambers of commerce, universities and a variety of other institutions. Members include: :* Regional, state, county, and city economic development organizations :* Chambers of commerce and other business support agencies :* Community and neighborhood development organizations :* Technology development agencies :* Utility companies :* Educational institutions :* Consultants :* Redevelopment authorities

Programs and services

IEDC additionally provides professional development services, offering 25 courses each year in over 30 states, educating its network of 1,200 Certified Economic Developers (CEcDs) and other practitioners, and certifying Economic Development Organizations (EDOs) through its

accreditation Accreditation is the independent, third-party evaluation of a conformity assessment body (such as certification body, inspection body or laboratory) against recognised standards, conveying formal demonstration of its impartiality and competence to ...

program (AEDO). IEDC serves as a voice for the profession on issues such as: *

Workforce development Workforce development, an American approach to economic development, attempts to enhance a region's economic stability and prosperity by focusing on people rather than businesses. It essentially develops a human-resources strategy. Work-force dev ...

Infrastructure Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...

and

business finance Corporate finance is the area of finance that deals with the sources of funding, the capital structure of corporations, the actions that managers take to increase the value of the firm to the shareholders, and the tools and analysis used to ...

Business marketing Business marketing is a marketing practice of individuals or organizations (including commercial businesses, governments and institutions). It allows them to sell products or services to other companies or organizations that resell them, use the ...

, attraction, expansion, and retention *

Community development The United Nations defines community development as "a process where community members come together to take collective action and generate solutions to common problems." It is a broad concept, applied to the practices of civic leaders, activists ...

* Industrial rehabilitation and location *

International trade International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant ...

* Tourism development

Professional training

IEDC training courses include: :* Business Retention & Expansion :* Economic Development Credit Analysis :* Economic Development Finance Programs :* Economic Development Marketing & Attraction :* Economic Development Strategic Planning :* Entrepreneurial and Small Business Development Strategies :* Introduction to Economic Development :* Managing Economic Development Organizations :* Neighborhood Development Strategies :* Real Estate Development & Reuse :* Technology-Led Economic Development :* Workforce Development

Certification

The Certified Economic Developers (CEcD) is an industry designation.

Accreditation

IEDC accredits economic development organizations through the

Accredited Economic Development Organization The Accredited Economic Development Organization ('AEDO'') program was created by the International Economic Development Council (IED based in Washington, D.C. ) , image_skyline = , image_caption = Clockwise from t ...

program.

Conferences

IEDC organizes four conferences a year, which include an annual conference, a technical conference, legislative conference, and a leadership conference.

Legislative affairs

Each year, IEDC examines notable federal events and legislation in economic development, reviews appropriations for a number of key federal programs, and previews the budget for the upcoming fiscal year in its annual Federal Review. The department also publishes relevant policy papers and issues a Federal Leadership Economic Development Award that recognizes an individual whose commitment to economic development enhances the industry as a whole.

Advisory services and research

IEDC has two research arms: The Advisory Services and Research Department (ASR) works directly with local communities and Federal agencies to provide peer-review technical assistance and practice-oriented research on a variety of economic development topic areas. The department focuses on important matters that impact communities and the profession, enabling practitioners to better compete in today's global economy. ASR services focus on: *

Strategic Planning Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. It may also extend to control mechanisms for guiding the implementation of the st ...

* Organizational Development & Program Analysis * Real Estate Development & Reuse * Business Retention, Expansion & Attraction * Neighborhood Development & Revitalization * Research Publications & Policy Analysis * Technology-led Economic Development The Economic Development Research Partnerships Program (EDRP) is a

think-tank A think tank, or policy institute, is a research institute that performs research and advocacy concerning topics such as social policy, political strategy, economics, military, technology, and culture. Most think tanks are non-governmental org ...

that operates under the IEDC banner, which directs research that will benefit the economic development profession as whole. EDRP research is not being done anywhere else and EDRP members choose what areas of research to fund and how those topics will be addressed. Some issues examined have included: * Seeking new ways to capitalize on foreign markets * Integrating regional businesses into the global economy * New realities for economic development organizations * Capitalizing on new technologies, networks and software * Strategies to support growth-oriented companies * Responding to population and demographic changes * Preparing for risk and unforeseen challenges

Other services

IEDC offers several webinars each year on pertinent economic development topics; publishes a bi-monthly online newsletter, Economic Development Now; provides members with quarterly copies of the Economic Development Journal; maintains the Clearinghouse Information Research; and provides members with full benefits of the GrantStation Premium Access Program (GPA).

International partners

IEDC partners with international organizations promoting an international exchange of information, experience, and best practice among economic development practitioners and organizations. These efforts include partnering on initiatives, sharing information, and participating in each other's events in order to improve the integration of economic, social, and environmental agendas across national borders. These partner organizations include: * European Union Association of Regional Development Agencies (EURADA) * World Association of Investment Promotion Agencies (

WAIPA Waipa may refer to: New Zealand * Waipa (New Zealand electorate), a former electorate * Waipa District, a territorial local authority * Waipā River, a waterway Elsewhere * World Association of Investment Promotion Agencies The World Associatio ...

) * Economic Development Association of New Zealand (EDANZ) * International Association of Science Parks (IASP) * The LEED Program of the Organisation of Economic Co-operation and Development (

OECD The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate e ...

) * Economic Developers Council of Ontario, Canada (EDCO) * Economic Development Australia (EDA) The alliances between U.S. economic development organizations and peers elsewhere in the world support international trade and investment for communities, companies and entrepreneurs internationally.

References

External links

* {{Authority control International development organizations Non-profit organizations based in Washington, D.C. Organizations established in 2001