PEDC Celebrates Economic Development Week

Economic development encompasses many activities to attract, create, and retain jobs to foster a resilient and inclusive economy for current and future generations. It is a collaborative effort that involves working with businesses, governments, and community stakeholders to improve a community’s economic well-being and overall quality of life.

While economic development is a noun, one can consider economic development corporations/organizations/councils (EDCs) as verbs. These departments have dedicated individuals doing the necessary work to achieve positive economic development results. EDCs require strategic thinkers who look at all factors that influence economic growth and make moves to turn those factors into action. Examples include:

• Marketing the community to bring new businesses in to create more jobs
• Preparing land information to assist site selectors with purchasing property
• Network with current business owners to aid in the longevity of business retention
• Assist in strengthening the workforce

… and so much more.

Economic Development Week 2024

Because of economic development’s importance and humans doing the work, the first week of May is Economic Development Week (EDW). As stated on the website, “International Economic Development Council (IEDC), the largest international professional trade association for economic developers, created EDW in 2016 to increase awareness for local job-creating programs, advance career development opportunities, and improve the quality of life and livability of communities everywhere. … As local and regional economies evolve, the role of economic developers and development organizations are crucial in energizing, preparing, and promoting local economic growth.”

Pasadena Economic Development Corporation

Pasadena Economic Development Corporation (PEDC) is servicing the community to ensure Pasadena remains a stable and growing economy.

There is strength in numbers. As previously mentioned, partnerships are necessary for community success. PEDC partnered with the Pasadena Chamber of Commerce and the City of Pasadena to create Pasadena Loves Local (PLL). PLL’s sole purpose is to help raise awareness about the importance of investing in Pasadena. It’s more than just a shop-local program. PLL promotes community involvement and building community pride. PLL promotes togetherness. Recently, PLL successfully presented the annual Generations Collide Breakfast Workshop in March and the annual Discover Your Future Job Fair in April. Whether on its own or partnered, PEDC’s work continues.

To celebrate EDW, PEDC, in partnership with the City of Pasadena, is highlighting two priority projects in the works:

Pasadena Boulevard - A vision for a bustling area of economic activity and opportunity for businesses and residents
Pasadena Arena & Convention Center - A reimagined event space to include creative and multi-use facilities

The upgrades to the Pasadena Arena & Convention Center alone will boost tourism. A boost in tourism has a domino effect of boosting job availability and economic growth, individually and collectively.

For an organizational overview and a closer look at PEDC’s work, check out the 2023 Annual Report and the 2023 Five-Year Strategic Plan Update. To learn more about PEDC’s projects in the works, visit the Current Projects page. PEDC looks forward to the year ahead and continued economic growth for our city and region.