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Celebrate economic development in Pasadena
3 May 2023
Pasadena, TX, is part of the Houston Metropolitan Statistical Area, the fifth-largest in the country. Perhaps more importantly, it sits amidst a center of dynamic economic development. It boasts incredible business activity and momentum, from the endeavors of international corporations like BASF, BP Amoco and TotalEnergies to the nearly 6,000 small businesses within its borders.
A significant factor driving Pasadena’s energy is Pasadena Economic Development Corporation (PEDC).
PEDC has operated since 1988 as a nonprofit, Type B corporation under the Texas Development Corporation Act, financed by a half-cent sales tax collected by the City of Pasadena. PEDC facilitates local growth by working with developers, entrepreneurs and existing businesses to expand and enhance their organizations. PEDC is an ally to local businesses by connecting them to necessary resources and support to be a thriving force in Pasadena.
Observation on economic development
The International Economic Development Council recognizes the critical support structure and guidance delivered by organizations like PEDC with its eighth annual National Economic Development Week (EDW), from May 8 to 12. The week is an opportune time to reflect on the importance of local economic development efforts like those from PEDC to build a vibrant and sustainable community.
EDW is a chance to recognize economic developers, the local leaders and organizations who work tirelessly to recruit investors, develop businesses, create jobs, enhance the tax base and ultimately improve the quality of life of their communities. Many resources are available for participating in this year's events. The IEDC’s 2023 Economic Development Toolkit offers many ideas, while using #EconDevWeek can help amplify the value EDOs have in a community.
Commitment to Pasadena development
PEDC leads or partners in key economic development programs to improve the overall vitality and quality of life in Pasadena. The 2022 Annual Report outlines the major successes, sustainable development projects and initiatives PEDC accomplished in 2022 while outlining significant focus projects for 2023. The report compares results against the major thresholds of its 2018 Economic Development Strategic Plan, with initial thoughts on a new Five-Year Strategic Plan Update to be ready by the summer of 2023.
PEDC is involved with numerous projects each year, from infrastructure improvements to beautification projects. One example, the Vince Bayou Greenway Trail Project, involved PEDC funding a planning study, the first design phase and land acquisition for a hike and bike trail along Vince Bayou from Pasadena's Memorial Park to Strawberry Park. The budget for the project included $2 million for 100% of the land acquisition and 30% of the engineering of the 3.7-mile project.
The Shaw Avenue District Mural Project illustrates a Pasadena beautification project. PEDC launched the murals program as part of the Shaw Avenue revitalization strategy, allocating $85,000 for eight artists to design and complete murals on buildings along the street.
Learn more about PEDC’s work on these projects or more on the PEDC website.
Pasadena Loves Local
As a partnership between the Pasadena Economic Development Corporation, the City of Pasadena and the Pasadena Chamber of Commerce, Pasadena Loves Local was a campaign to raise awareness of investing in the local community. The initiative’s Pasadena Cares Financial Assistance Grant Program provided relief to local small businesses significantly impacted by the COVID-19 pandemic. The campaign allowed for a total of $250,000 allocated to businesses, at $1,000 grants each.
Business Retention & Expansion
PEDC has continued its support of the Pasadena Loves Local brand through a Business Retention & Expansion Program. Through five main objectives of building relationships, providing support, increasing communication, addressing urgent needs and identifying risks, PEDC hopes to demonstrate community support and solve immediate business concerns impeding sustainable economic development.
By completing this short survey, local businesses can participate in the Business Retention & Expansion Program.
Small business resources
PEDC offers numerous general resources for local small businesses. SizeUp Pasadena is a free business intelligence tool available to all Pasadena businesses that puts the competitive data often thought of as reserved for major corporations into the hands of small business owners.
Visit the PEDC Small Business Resources page for other organizations offering expert assistance in Pasadena.
You can support Pasadena’s small businesses too!
The Pasadena Economic Development Corporation is working to keep Pasadena a bustling city and the ideal place to live, work, play and learn. Follow along on Twitter, Facebook, LinkedIn and YouTube or subscribe to the Pasadena Pulse E-Newsletter to be part of the great effort supporting the small businesses of Pasadena.