International Economic Development Council
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| International Economic Development Council | |
|---|---|
| Name | International Economic Development Council |
| Abbreviation | IEDC |
| Formation | 2001 |
| Type | Nonprofit organization |
| Headquarters | Washington, D.C. |
| Region served | International |
| Membership | Economic developers, city governments, regional planning organizations, development finance institutions |
International Economic Development Council is a nonprofit membership organization focused on professional economic development practice, workforce attraction, and investment promotion across United States and international jurisdictions. Founded in the early 21st century, it provides training, accreditation, and advocacy targeted to practitioners from city governments, county governments, state governments, regional planning organizations, and development finance institutions. The Council convenes conferences, issues best-practice guidance, and certifies professionals to improve competitiveness in contexts influenced by organizations such as the World Bank Group, International Monetary Fund, and Organisation for Economic Co-operation and Development.
History
The Council emerged from consolidation efforts among legacy bodies in the late 1990s and early 2000s that sought to professionalize the network of economic developers active in United States metropolitan regions. Early interactions drew on precedents set by organizations including the Economic Development Administration, United States Conference of Mayors, and the National League of Cities. Over time, the Council expanded relationships with international actors such as the United Nations Development Programme, European Bank for Reconstruction and Development, and bilateral agencies like United States Agency for International Development to incorporate global best practices. Milestones included hosting large annual summits featuring speakers from World Economic Forum, Brookings Institution, Harvard Kennedy School, and launching credentialing programs influenced by standards from International City/County Management Association and Association for Public Policy Analysis and Management.
Mission and Activities
The Council's stated mission centers on strengthening the capacity of practitioners to attract investment, foster entrepreneurship, and revitalize places. Activities range from professional development and credentialing to technical assistance and policy advocacy. Core programmatic emphases link to themes prominent in discourse from McKinsey & Company, Deloitte, and think tanks such as the Urban Institute and Aspen Institute, while collaborations have included project partnerships with Export-Import Bank of the United States and multilateral lenders. The Council also engages with workforce initiatives championed by entities like National Governors Association, Chamber of Commerce of the United States, and labor-focused organizations.
Governance and Leadership
Governance is vested in a board of directors composed of leaders from municipal entities, private-sector development firms, and nonprofit intermediaries. Chairs and officers often include executives with prior service at economic development corporations, metropolitan planning organizations, and investment promotion agencies modeled after Invest India and Business France. Past leadership rosters have featured individuals formerly affiliated with Amazon, General Electric, and consultancies such as Ernst & Young and KPMG. The executive office operates from the organization's headquarters and liaises regularly with legislative bodies like the United States Congress and oversight institutions including Government Accountability Office on matters affecting finance and regulatory frameworks.
Programs and Services
Signature offerings include a professional certification program, continuing education courses, and an annual summit that gathers delegates from Mayors' Offices, state economic development agencies, development finance authorities, and private investors. Training modules cover site selection, incentive negotiation, public-private partnerships, and brownfield redevelopment—topics often examined in case studies from General Motors, Tesla, Inc., Rio Tinto, and municipal turnarounds such as Detroit, Michigan and Bilbao. Technical assistance services support capacity-building in regions working with partners like USAID missions, Inter-American Development Bank, and philanthropic funders such as the Bill & Melinda Gates Foundation.
Membership and Partnerships
Membership spans practitioners from metropolitan and rural jurisdictions, corporate economic development teams, academic programs, and consultants. Partner organizations include national associations such as the National Association of Counties, International Economic Development Council (note: do not link this name per instructions), regional alliances like the Southeast Crescent Regional Commission, and international agencies including the Asian Development Bank and African Development Bank. Corporate partners have included site-selection firms, law firms, and finance houses that also participate in sponsorship and program delivery.
Publications and Research
The Council produces reports, white papers, and toolkits addressing topics such as site readiness, cluster development, and incentive evaluation. Publications draw on methodologies common to research produced by MIT, Stanford University, Columbia University, and policy units at Harvard University and the London School of Economics. In addition to practitioner guides, the organization curates benchmarking data and case studies that reference projects supported by Federal Reserve Bank district studies, academic journals, and industry analyses from S&P Global and Moody's Analytics.
Funding and Financials
Funding sources include membership dues, fees for training and certification, conference sponsorships, and grants from foundations and multilateral institutions. Major revenue lines often mirror funding models used by peer organizations such as Urban Land Institute and Council on Foreign Relations, and the organization maintains audited financial statements consistent with nonprofit governance standards monitored by entities like the Internal Revenue Service and independent accounting firms such as PricewaterhouseCoopers. Fiscal oversight is managed by an audit committee reporting to the board of directors.