The AEDC: A Record of Success
The Amarillo Economic Development Corporation (AEDC) is transforming the regional economy by attracting diverse industries, creating high-paying jobs, and improving local infrastructure. With companies like Bell Textron, Amazon, and Gestamp Renewable Industries on its roster, the AEDC has positioned Amarillo for sustained, long-term growth. Its initiatives are not only creating jobs but also diversifying the economy, expanding the tax base, and improving the quality of life for the residents of Amarillo and the surrounding areas. The AEDC is a model for localized economic development, successfully leveraging public-private partnerships for the benefit of the entire community. It’s also the recipient of many industry awards and recognition.
The History of the AEDC
The voters of Amarillo approved the establishment of the economic development sales tax (0.5%) in 1989. The AEDC was formed as a 501(c)6 with a mission focused on primary job creation and retention, which was the only option available under state law at the time.
The Impact of the AEDC
Over its history, the AEDC has helped create more than 12,000 direct jobs, with additional indirect jobs supported through the multiplier effect.
Wage Growth: The focus on higher-wage industries, such as aerospace, pharmaceuticals, and advanced manufacturing, has contributed to rising wages and higher standards of living in the region.
Increased Tax Revenue: By expanding the commercial tax base, the AEDC has enhanced local tax revenues, supporting critical infrastructure and community development.
Capital Investment: The AEDC has facilitated billions in capital investment from companies relocating or expanding in Amarillo. These investments have not only generated construction jobs but also contributed to long-term growth in industries like renewable energy, healthcare, and tech.
Diversifying the Local Economy
Historically dependent on agriculture and energy sectors, the AEDC has expanded Amarillo’s economic base. Through strategic investments, the commission has drawn companies from industries like manufacturing, technology, healthcare, and logistics. This diversification has made the local economy more resilient to fluctuations in individual sectors.
Training and Workforce Development
The AEDC collaborates with local educational institutions, such as Texas Tech, Amarillo College, and West Texas A&M University, to align the workforce with industry needs. Through specialized training programs and apprenticeships, they have helped ensure that Amarillo’s workforce is prepared for jobs in advanced manufacturing, healthcare, and technology sectors.
The AEDC has successfully recruited major companies across diverse industries, including:
The Texas Tech School of Veterinary Medicine
The AEDC's investment of $50.81 million in the Texas Tech School of Veterinary Medicine has created approximately 95 new direct jobs and more than 270 indirect jobs. It has also attracted 376 DVM and Ph.D. students to Amarillo. Additionally, the school is the only veterinary school in the country co-located with a pharmacy and medical school on the same campus, expanding opportunities to combine research efforts impacting both human and animal health.
Bell Textron
The AEDC secured this major defense contractor, resulting in a multi-million-dollar facility for manufacturing and assembly. This partnership created hundreds of high-paying jobs, elevating Amarillo’s position in aerospace and defense.
Caviness Beef Packers
Caviness Beef Packers is a major agribusiness player in the beef industry, contributing hundreds of jobs in food processing and agriculture-related sectors, which align with the region’s historic ties to the cattle industry. A recent AEDC agreement helped Caviness hire an additional 100 full-time employees, with a projected payroll increase of $4.5M annually. The agreement will also have a projected capital expenditure of over $60M.
SSI Foods
A major agribusiness player in the beef industry, contributing hundreds of jobs in food processing and agriculture-related sectors, which align with the region’s historic ties to the cattle industry. This has resulted in 180 new jobs.
Gestamp Renewable Industries
AEDC worked to bring this renewable energy company to Amarillo, aligning the region with Texas’ booming renewable energy sector, particularly in wind power. This has created jobs in manufacturing components for wind turbines, further diversifying the local economy.
Maxor National Pharmacy Services
AEDC’s partnership with Maxor National allowed the company to expand its headquarters, boosting high-paying healthcare and pharmaceutical-related positions in the region.
Plant Agricultural Systems
This project (a partnership with the Lubbock Economic Development Alliance) will create 700 new jobs and over $500 million in new capital expenditure in Amarillo alone.