Greetings friends, colleagues and community partners,
On behalf of the Board of Directors of the Pasadena Economic Development Corporation (PEDC), I am pleased to present you with the FY 2019 Annual Report. As Chairman of this organization, I am proud of the work PEDC has done to bring new investment, help existing expansions, and add new jobs to the City of Pasadena. Over the last year, PEDC worked on various projects that totaled $1.1 billion dollars in capital investment and 1,056 new full-time jobs for our city.
Since the implementation of our community Strategic Plan in 2018, the PEDC team has been laser focused on the goals that were identified in the plan. Over the last year, the team has made great strides to accomplish many of those goals. We have shifted focus slightly and have put an emphasis on the redevelopment opportunities for the city. Our team made good progress in overall infrastructure improvements of Historic Pasadena, including Phase I of Richey Street which is nearing completion. We have also developed plans for future redevelopment projects including the revitalization projects for both Shaw Street, Richey Street Phase II and implementation of the Pasadena Boulevard Master Plan.
From a marketing and image standpoint, our team identified the need for a cohesive and unified brand and messaging to help tell Pasadena’s story. This story would share the progress we’ve seen over the last few years, while embracing the things that make Pasadena unique. In 2019 we partnered with a well-known economic development marketing firm on the creation of a new marketing image for the city. This new image is a shared vision between key entities, community leaders and the community at large for the way Pasadena should be perceived.
2019 was also the beginning of a new era for our city with the implosion of the First Pasadena State Bank Building that took place on July 21, 2019. After years of neglect and seeing it become a hazard to the community, our Board of Directors had a tough decision to make. Though our skyline may have changed, the structure will always hold a special place in the heart of the entire city.
The work of our team is never confined to what the community needs today, but rather a big picture vision for what the next decade might look like. Our strategic plan identified the need for a pipeline for future leaders for the community. This goal opened the opportunity for a partnership with the Pasadena Chamber of Commerce in the development of IMPACT Pasadena. After a monumental inaugural year of the program, we look forward to seeing the participants continue being empowered with interpersonal, leadership and communication skills that will continue to propel our city for years to come.
2019 was a year of significant growth for our region and organization and we cannot wait to see what 2020 has in store for Pasadena, Texas.
Steve Cote, Chairman
Pasadena Economic Development Corporation