WT Enterprise Center Receives Excellence in Economic Development Award from the International Economic Development Council
WT Enterprise Center received a Bronze Excellence in Economic Development Award for its 2015 project in the category of Entrepreneurship for communities with populations of 25,000-200,000 from the International Economic Development Council (IEDC).
The honor was presented at an awards ceremony on Tuesday, October 6, during the 2015 IEDC Annual Conference, which was held October 4-7, in Anchorage, Alaska.
“The Amarillo EnterPrize Challenge is a tradition of success for Amarillo Entrepreneurs,” said WT Enterprise Center Executive Director, David Terry. “Over the last 20 years we have provided business services and funding to 76 local businesses through the program. The Amarillo Economic Development Corporation has provided over $5.1 Million in funding to help these businesses be successful. The entrepreneur spirit is alive and well in Amarillo, and our partnership with the Amarillo EDC has helped companies get to the next level of growth and sustainability.”
The Amarillo EnterPrize Challenge is a business plan competition that invests $500,000 of grant money in local primary businesses. In partnership with the Amarillo Economic Development Corporation, the WT Enterprise Center awards money to startup and early stage companies to help them expand an existing business or launch a new business. Each company must document that it receives more than 75 percent of its overall revenue from outside of the local trade area. Each entrepreneur that participates receives training and one-on-one assistance to prepare his or her business plan. The plans are submitted to a volunteer panel of judges who score the plans and select finalists. Each finalist delivers a 10-minute pitch to the judges for investment of up to $100,000. The program just finished its 20th successful year. WT Enterprise Center is a rural, mixed-use, incubator located in the Texas Panhandle. WT Enterprise Center offers 33,000 sq. ft. of facility space including offices, production/manufacturing space and a culinary kitchen for client use. Through business coaching, strategic planning, community resources and programs, the WT Enterprise Center exists to help local entrepreneurs grow their business.
Recipients of IEDC’s Excellence in Economic Development Awards demonstrate to an experienced panel of judges that they are at the forefront of the economic development profession. They are recognized as the world’s best economic development programs and partnerships, marketing materials, and the year’s most influential leaders. These awards honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities.
About the International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit membership organization serving economic developers. With more than 4,600 members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities, by creating, retaining and expanding jobs that facilitate growth, enhance wealth and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members are engaged in the full range of economic development experience. Given the breadth of economic development work, our members are employed in a wide variety of settings including local, state, provincial and federal governments, public private partnerships, chambers of commerce, universities and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions. www.iedconline.org.
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