The Dallas Economic Development Corporation, a nonprofit focused on promoting Dallas’ business climate, is wrapping up a years-long search for a new CEO for the organization, with Linda McMahon, president and CEO of the Real Estate Council, expected to take over as the organization’s leader.
The DEDC board is scheduled to vote on her confirmation on May 7. If approved, she would begin as the company’s CEO on July 1.
“I am honored to have been selected to serve on the board,” McMahon said. “It was a tough process — tougher than any interview I’ve ever been through in my professional life — but it was worth it, and I look forward to showing everyone why Dallas truly is a great place to do business.”
The Dallas EDC is the city’s business attraction and expansion arm, operating as a nonprofit to help attract businesses and foster growth. The organization was established in 2022, and McMahon was a member of its original 15-member board of directors, most recently serving as vice chairman.
It could play a bigger role if Dallas residents on Saturday approve a $72.3 million economic development bond, a tool other cities and regions use to attract new jobs and businesses.
The Real Estate Council is a trade association and community organization for local real estate professionals with over 1,300 members.
During the six months that DEDC searched for a CEO, McMahon didn’t consider any other options. She said her only thought was to secure the backing of the nation’s biggest companies and launch Dallas into a new era of prosperity.
“New businesses coming to Texas should come to Dallas. The region is experiencing great growth and we want to make sure Dallas is at the center of it all,” she said. “I think the future for business in Dallas is limitless, and we want to seize the opportunities within the city and grow our tax base so we can provide a full range of services to the people who live here and support that growth.”
McMahon already has experience helping revitalize underserved areas such as South Dallas under former Dallas Mayor Mike Rawlings, who helped create a fund that raised $30 million for investment in South Dallas.
But as CEO of DEDC, it’s on her bucket list to ensure a similar level of large-scale investment happens across Dallas, and to do that, McMahon said, she and her company need to promote Dallas as a city poised for more growth.
“We have an opportunity to maximize our real estate assets, grow our small businesses and housing, and really create a vibrant quality of life,” she said. “We have to create an atmosphere that shows both large and small businesses that Dallas has their back and is ready to help them in any way we can.”
For Dallas to attract more businesses, it will need to leverage incentives. With Dallas voters being asked to vote on a $1.25 billion bond package that includes $72.3 million for economic development in Proposition G, McMahon said he’s already started planning for the future.
“All of the bond funds that come from the bond election will be managed by the economic development department within the city of Dallas,” she said, “so we’ll be the ones working with city staff to determine how we can best utilize the funds that voters approved.”
A number of projects have already been designated to receive some of the Proposition G funds, but he declined to comment on which specific projects will receive the incentives.
Still, her vision for the city includes attracting more businesses, large and small, to Dallas. She said she wants to leverage the city’s strong workforce and present the city as a good place for investors to expand.
“We’re very fortunate. We already have a highly educated workforce and a great, diverse business environment,” she said. “But we’re really trying to create a long-term sustainable economic environment. I can’t imagine living anywhere else but Dallas. We want everyone to live in this city, and we’re ready to make that happen.”
