The International Economic Development Council (IEDC) has recognized the City of Richardson’s Economic Development Department with a Bronze Award in the 2025 Excellence in Economic Development Awards for its work in creating the Richardson Innovation Quarter (The IQ®).
The IEDC Excellence in Economic Development Awards are among the most respected honors in the profession, celebrating programs and projects that exemplify best practices in driving economic growth. Richardson earned recognition in the Innovative Economic Development category, with an independent panel of judges highlighting the City’s approach as a national model for advancing innovation, entrepreneurship, and community development.
“This award is a significant honor for Richardson and a strong affirmation of our long-term vision for the Richardson Innovation Quarter,” said City Manager Don Magner. “The IQ® is more than just a geographic area — it symbolizes our dedication to cultivating innovation, attracting global businesses, and creating meaningful opportunities for our community. Being recognized by the IEDC highlights that our efforts are not only making an impact locally but are also being seen as a national model for success. I’d like to thank the Richardson Economic Development Department team for their hard work and commitment in helping bring this vision to life.”
Each year, IEDC honors organizations, government entities, initiatives, and programs around the world that consistently demonstrate excellence in the field, leading transformational projects that revitalize communities and advance the practice of economic development.
“This award shines a spotlight on The Richardson IQ®’s commitment to its community and showcases the significant impact of economic development,” said Nathan Ohle, IEDC President and CEO. “IEDC is honored to present this award to The IQ® to celebrate both its leadership and innovation in the field.”
Building The IQ®
Since 2021, the City of Richardson has invested more than $14 million in public infrastructure and placemaking initiatives within The IQ®, contributing to approximately $60 million in private capital investment and the creation or retention of more than 1,100 jobs.
City-led investments have included:
- Targeted economic incentives,
- Permit fee waivers,
- Reconstruction of major corridors within the district,
- Sidewalk, curb, and ADA-compliant upgrades,
- Planned bridge improvements, and
- Bicycle and pedestrian intersection enhancements.
In 2024 alone, Richardson experienced more than $225 million in capital investment through economic development-related projects. More than 1.3 million square feet of industrial, retail, and office space was occupied, resulting in the creation or retention of over 4,000 jobs citywide.
These figures demonstrate the ongoing success of the City’s strategic investments in infrastructure, business support, and district-wide revitalization, making The IQ® a key driver of economic growth in the region.
The IQ® – Innovative, Collaborative, Transformative, & Global
The development of the Richardson Innovation Quarter was the result of a collaborative effort between City officials, staff, and business stakeholders. This work led to the rezoning of a 1,200-acre area as a Planned Development (PD) district and the formal branding of the district as the Richardson Innovation Quarter, or The IQ®.
Today, The IQ® is home to Fortune 500 companies, thousands of technology-driven businesses, and more than 20,000 workers and residents. Key industry clusters represented in the district include aerospace, advanced manufacturing, financial and professional services, information technology, scientific services, and research and development.
The IQ®HQ
At the heart of the district is the Richardson Innovation Quarter Headquarters (The IQ®HQ), a 27,500-square-foot facility that opened in 2022 with the University of Texas at Dallas as its anchor partner. Through UTD’s Catalyst program, the IQHQ houses multiple research centers, administrative offices, and startup ventures, creating a dynamic environment where government, academia, corporations, and entrepreneurs collaborate side by side. Designed to advance innovation and business growth, The IQ®HQ has quickly become a focal point of Richardson’s identity as the International Business Capital of North Texas, welcoming global delegations, fostering research partnerships, and supporting corporate innovation.
The City will formally accept the Excellence in Economic Development Award next month at the International Economic Development Council’s 2025 Annual Conference in Detroit, Michigan.
About the City of Richardson
Located just north of Dallas, Richardson is a culturally diverse community offering a blend of urban amenities with exceptional suburban service. Richardson benefits from being home to The University of Texas at Dallas, a research powerhouse. UT Dallas’ influence is felt in the presence of dynamic businesses in sectors such as advanced additive manufacturing, biotechnology, finance, software development, and R&D, as well as hosting incubators for entrepreneurial start-ups. Richardson’s thriving, innovation-focused economy creates numerous opportunities while also supporting a historically stable local government capable of delivering high quality-of-life and exemplary services for a diverse array of neighborhoods and multi-modal transportation options, enabling easy access to the entire DFW Metroplex. The community is regularly recognized in third-party rankings as one of the best places in the nation to live, raise a family, start a career, go to school, buy a home, and retire.
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About the International Economic Development Council
The International Economic Development Council (IEDC) is a non-profit, non-partisan membership organization serving economic developers. With thousands of members, IEDC is the largest organization of its kind. Economic developers promote economic well-being and quality of life for their communities by creating, retaining, and expanding jobs that facilitate growth, enhance wealth, and provide a stable tax base. From public to private, rural to urban, and local to international, IEDC’s members engage in a full range of economic development practices. Given the breadth of economic development work, our members are employed in various settings, including local, state, provincial, and federal governments, public-private partnerships, chambers of commerce, universities, and a variety of other institutions. When we succeed, our members create high-quality jobs, develop vibrant communities, and improve the quality of life in their regions.
