In 1989, Amarillo voters chose to invest a 1/2 cent sales tax for economic development by passing the legislature as a 4A sales tax, and formed the Amarillo EDC.
Cities participating in the 4A sales tax collection are mandated to use the funds towards basic businesses or businesses whose goods and services are exchanged outside the region. In return, this brings new revenue into the economy. In the past 19 years, the Amarillo EDC has engaged in over 100 projects with over 100 companies, building a Portfolio of Success. The portfolio includes: 37 Retention & Expansion Projects, seven Relocation Projects and 32 Entrepreneurialism Projects.
The Perryman Group recently evaluated the combined investment each company has contributed to the community. The study stated, “The Amarillo EDC has successfully attracted new businesses to the local area and encouraged existing firms to stay and expand. In fact, about one in three jobs in the local area is linked to a company the Amarillo EDC has assisted in some way. The long-term economic vitality of Amarillo and the surrounding area have clearly been enhanced by the Amarillo EDC.” With statements and study results that yield positive results from organizations like The Perryman Group, we are confident the Amarillo EDC continues to move in the right direction.
Since 1989, the Amarillo EDC has been governed by a five-member board. Board members are appointed by the Amarillo City Commission and commit to serving three year terms. The Amarillo EDC staff carries out the day-to-day operations and consists of a team of professionals.
