June 1990 – A special committee was appointed by the mayor of Killeen to study the feasibility of forming a non-profit corporation to serve as Killeen’s economic development arm.
August 15, 1990 – the Killeen City Council passed an ordinance authorizing and approving the creation of the KEDC. The first Board of Directors appointed was Mayor Major Blair as Chairman, Cotton Adams and Fred Latham representing the city; Dan Green, Bill Kliewer and Cecil Carter representing the Killeen Industrial Foundation; and Brad Baine, Howard Watson and Jack Hayes representing the Greater Killeen Chamber of Commerce.
November 30, 1990 – The City of Killeen entered into a two year agreement with the Killeen Economic Development Corporation. The agreement has been renewed every two years since.
KEDC’s mission is to promote the development of commercial, industrial and manufacturing enterprises to promote and encourage employment and the public welfare. Members of KEDC are also charged with the responsibility of working closely with the Killeen Industrial Foundation and the Greater Killeen Chamber of Commerce.
KEDC is funded wholly by the City of Killeen. The funding is determined by city staff based on a formula contained in the ordinance. Funding is approved on an annual basis by the Killeen City Council as part of the city’s budget process.
The KEDC is run by a nine-member Board of Directors who serves three-year staggered terms. Three board members each are chosen by the City of Killeen, the Killeen Industrial Foundation and the Greater Killeen Chamber of Commerce.
The ordinance permits KEDC to commit and spend funds received from the city, without the necessity of securing prior approval of the City Council, providing that the expenditures contribute to the creation of new jobs or retention of existing jobs in the City of Killeen and contribute to the public welfare. Following are example expenditures