For Immediate Release
Contact: Gene Stinson, President
The Southern Economic Development Council
Phone: (404) 523-3030
Fax: (404) 523-0406
R-L Shannon Thompson, Administrative Assistant; Ronnie Ledbetter, Board President; John Diers, Executive Director; and Sam Powers, SEDC 2018 Chairman.
MOBILE, ALABAMA (July 30, 2018) – The Southern Economic Development Council (SEDC) has announced the recipients of its annual Community Economic Development Awards (CEDA). The city of Cisco, TX submitted a nine-year process leading to significant growth in business attraction, community involvement, and a remarkable increase in real property tax evaluations. The entry was the winner in the category of communities with Less than 5,000 in Population. Winners were recognized at an awards luncheon held in their honor Tuesday, July 31st, at SEDC’s annual conference in Mobile, AL.
The projects/programs submitted were recognized in the categories of business retention and expansion, business recruitment, community development and community involvement. Entries were evaluated on their innovativeness, transferability, community commitment and leverage, measured objectives and secondary benefits.
“This is Cisco Reborn, a new culture that has been contagious. From prospects of becoming a ghost town to a busy little downtown with many things to do, Cisco has new life. Sales tax collections are on a very aggressive upward trend with a remarkable increase in real property tax evaluations.
Previous property values of the buildings that have been utilized for the re-birth were $729,440.00. Today, those same properties when the projects are completed will be valued at approximately $17,508,310.00. The total estimated annual tax benefits upon the completion of active projects to the local taxing entities is projected to be around $393,775.00. That is up from a previous meager $7,386.00 on the same properties in 2013. In a community of less than 4,000 people, this is significant growth and evidence of renewed life.”
“The CEDA program not only recognizes excellence, but allows SEDC to promote successful, results proven programs that can be shared with other communities,” said SEDC President Gene Stinson. “We look for and encourage replicability as a key measure of success.”
SEDC is the oldest and largest regional economic development association in North America, with more than 900 members representing a variety of backgrounds. From local, regional and state economic development agencies, chambers of commerce, business and industry, utilities, transportation, finance and education, members share a common interest: the promotion and enhancement of the economic development profession. To find out more about SEDC, please visit www.sedc.org.