Broderick Green, Executive Director, Arlington Economic Development Corporation
In an interview with Invest:, Broderick Green, executive director of Arlington Economic Development Corporation (AEDC), talked about the role of the EDC within the business ecosystem. Green sees the EDC as a connection point and a facilitator, providing resources and serving as a conduit of information for local businesses. In navigating the current economic period, the EDC aims to leverage its visibility and gather feedback to identify and address challenges faced by small businesses.
What is the role of the EDC in the business ecosystem?
I see us as a connection point. We are very well resourced because we are funded through sales tax, so we have the resources to be supportive of local businesses. I see us as a conduit of information and a lot of times the best thing that an economic development organization can do is serve as a facilitator. We can’t answer every question or solve every problem, but if I don’t know what is going on I can’t help at all. We want to be a central point for the activity involved in the economy and be involved in encouraging smart development.
How do you expect the EDC to navigate the current economic time period?
Our visibility is something we want to leverage. If we do this business survey and start getting feedback that access to capital is a hurdle for smaller businesses, are there things we can do that offset that and are there programs we can create to buy down interest rates for instance or be a capital source for eligible projects? If there is something we can do, a gap we can fill, or a partner we can bring to the table and help, let’s do that.
Can you tell me more about the process and impact of North Center Street acquisitions?
Those were strategic because they are directly adjacent to Lincoln Square, a major redevelopment project that will be a catalyst for North Arlington. The reason we wanted to acquire properties in that location is because it is truly a gateway location to major areas going north and south and we saw it as a way to have an impact on our other major developments. It made sense, the cost was manageable, and we wanted to give Lincoln Square every opportunity to be successful by making the improvements that we can ourselves.
How is your office managing budgets and fiscal prudence?
We are fortunate to have available financial resources and flexibility but will focus on being good stewards of the tax dollars we use. There is upward pressure across the board, so we need to be clear about why we are pursuing a particular project. We are working to earn the trust of the citizens and the goal is to be strategic in our approach, so if we cannot justify an expenditure or an investment in a project, we won’t do it.
What are your thoughts on the impact of mass transit when looking at economic development?
Multimodal transportation is important and a lot of companies, particularly those that are tech related, want to know that their employees have multiple modes of transportation. The state of Texas really is a personal vehicle state so it creates some challenges when you do not have it. We have a service called VIA and it is a great alternative but does not solve all the problems. Transit is a critical component for many businesses, and it really comes down to how the community views the value of transportation. We get to be creative in how we want to solve transportation issues because there is nothing really to build off of. We do have to be mindful though that it is not free or cheap.
