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What does an Economic Development Corporation or EDC do?
An EDC Serves to foster and promote economic development within the community. They are often a first point of contact that an interested business makes when considering a relocation or expansion. The EDC works to determine the business needs and whether the community is or can be a good fit.
Why do we have an EDC?
To Promote job creation, attract employers and ultimately facilitate job creation.
Can an EDC own property?
Yes, an EDC in the State of Texas is permitted to own property.
How is an EDC funded?
EDC's are funded in various manners but the Taft EDC is funded through local sales tax, as allowed by the State of Texas.
Is the EDC money separate from City funds?
Yes, the sales tax collected for the EDC is only to be used for the EDC and economic development purposes.
Who appoints the EDC Board?
In the City of Taft, the EDC Board is appointed by the City Council in accordance with the EDC bylaws.