The Colony Economic Development Corporation (EDC) was recognized by the Texas Economic Development Council (TEDC) Community Economic Development Award (CEDA) program in recognition of its exceptional contribution toward the economic vitality of the community and the state of Texas.
The CEDA awards including the Merit Award received by The Colony EDC were presented at the TEDC’s 2022 Annual Conference on Thursday, October 20 in San Antonio.
“Our CEDA program is one of the ways in which our organization honors the excellent work done by our communities, their leaders, and their economic development professionals,” noted Wesley Burnett, 2022 Board Chair of TEDC.
The awards committee received 24 applications this year. Nominees were judged on five criteria: innovativeness, transferability, community commitment and leverage, measured objectives, and secondary benefits. The Colony was one of only four cities to receive a 2022 Merit Award in the population category of 20,001 to 50,000.
The Colony EDC’s award submission was the Business Improvement Grant (BIG) Program, which was established in 2018 to help the city’s smaller businesses upgrade their signage, façade, landscaping, parking lots and other items with a matching grant of up to $1,000 per project. Because of the success of the program, The Colony EDC’s Board of Directors increased the amount to $2,500 per project for the current fiscal year of 2022-2023.
“A new sign can be as much as $5,000, which is a significant investment for a small business,” said Keri Samford, Executive Director of Development. “A participating business can now obtain that sign for $2,500 with our contribution of $2,500.”
“We are proud that The Colony has once again been recognized for one of its programs,” said Richard Boyer, Mayor of The Colony. “Our economic development team, which includes City administration, City Council, and the Economic Development Board and staff, works hard to ensure the continued economic vitality of the community, and we are grateful.”
The TEDC provides information, education and legislative services to its members to foster the expansion of existing businesses, the location of new firms and the development of strategies that promote a positive business climate in Texas. With 930 members, the TEDC is the largest state economic development association in the nation.