Washington, DC, – Buda Economic Development Corporation and City of Buda won a Silver Rank for its Still Budaful Stimulus Program, a project in the category of Business Retention and Expansion (BRE) Initiatives of the International Economic Development Council (IEDC). The honor was presented at an awards ceremony during the IEDC Annual Conference.
“Buda immediately came together to work on how to help the businesses that are the backbone of our community. Reinvesting in Buda businesses creates opportunity for our community to weather the storm. Establishing this program so quickly, allowed for other communities to duplicate our efforts and help their communities as well,” said Buda Economic Development Executive Director Traci Anderson. “We were honored to share and help so many during such a difficult time. Simply focusing on recruiting business to Buda is not enough; supporting them through the good times and bad is critically important.”
IEDC’s Excellence in Economic Development Awards recognize the world’s best economic development programs and partnerships, marketing materials, and the year’s most influential leaders. 25 award categories honor organizations and individuals for their efforts in creating positive change in urban, suburban, and rural communities. Awards are judged by a diverse panel of economic and community developers, following a nomination process held earlier this year. IEDC received over 500 submissions from 4 countries.
This Program allowed for all but 2 of the 120 recipients of the grant to remain in business. It saved over 700 jobs. This allowed for buildings to still be occupied with businesses that ultimately were innovated in ways to increase their sales. Buda did not decline but by only a 1-2% decrease in sales tax during the pandemic.
The City of Buda and the Buda Economic Development Corporation developed a Still Budaful Stimulus Program to assist small businesses within the City of Buda during the COVID-19 pandemic. The program provided financial assistance to over 120 businesses severely impacted as a result of the Stay at Home, Work Safe order implemented by Hays County and the City of Buda to flatten the curve.
“The winners of IEDC’s Excellence in Economic Development awards represent the best of economic development and exemplify the leadership that our profession strives for every day,” said 2021 IEDC Board Chair and Invest Buffalo Niagara, President, and CEO Tom Kucharski. “We’re honored to recognize the more than 100 communities whose marketing submissions, projects, and partnerships have improved regional quality of life.”