Rockwall Economic Development Corporation Helping Businesses Grow and the City of Rockwall to Prosper
Industry: Non Profit & Charity
Rockwall Economic Development Corporation (REDC) is an economic development agency that seeks to broaden and diversify the tax base through new business attraction and the expansion of existing industry, all while helping create high quality jobs to aid the local economy. The vision of the Rockwall Economic Development Corporation is to be recognized as the premier location for a business opportunity in the state of Texas. REDC has been involved in developing light industrial manufacturing and headquarters projects for 26 years.
Rockwall, TX (PRUnderground) April 19th, 2022
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Rockwall, Texas, has become the ideal location for expanding and relocating businesses and Rockwall EDC is one of the strongest reasons why.
Rockwall Economic Development Corporation (REDC) is a non-profit economic development corporation with a mission of bringing vibrant industry to Rockwall, while still balancing the high quality of life that is offered in the community.
The REDC seeks to recruit new office or manufacturing businesses or expand existing businesses to help improve local tax values that supports valuable services provided by the City, Council, and Rockwall Independent School District. The Corporation also facilitates and incentives job creation that is designed to increase household incomes in the area.
The REDC has utilized many tools in pursuit of its economic development mission. Most notably, the REDC has developed 550 acres of shovel ready land in the Rockwall Technology Park, served by first class roadway, utility, and regional drainage infrastructure. After the installation of infrastructure, the REDC then sells property to qualified relocating or growing companies at below market values, as part of an incentive offer. Currently, the REDC is embarking on the construction of a third phase of the Rockwall Technology Park.
In addition to land discounts, the REDC also provides cash incentives to prospects in order to fund or defray portions of expenses associated with building improvements, development fees, moving costs, tax, or utility obligations.
Beyond financial incentive for prospect companies, the REDC works with both new and existing companies on workforce recruitment and workforce development issues, partnering with state agencies and local educational institutions on job fairs and job training programs to ensure there is a sufficient and skilled labor force in Rockwall to meet the challenges of the various advanced manufacturing industries within the community. The REDC also offers grant funding to help companies recruit hard-to-fill positions, as well as provide funding for marketing and operational support for the hosting of on-site job fairs and open houses.
Finally, REDC has developed relationships between local governmental officials and often serves as a liaison on behalf of local industry leaders for various regulatory issues that may arise.
Over its history, the REDC has been successful in its efforts, in part because of the services the Corporation has to offer, but also because of the strong quality of life in the community. Rockwall is known to be a vibrant community in North Texas with A-rated schools, a high median household income, and a strong reputation for safety. All of this has occurred while the tax rate in the community has dropped to one of the lowest in the state and the cost of living is considered favorable to other desirable communities in the DFW Metroplex. Recently, Rockwall was ranked 4th in the Best Places to Live in America” list by Money Magazine.
Rockwall is just getting started and there is even more room for businesses that may be in search of a new home. Additional details on Rockwall, and what the REDC has to offer, can be found here: https://rockwalledc.com/
