The board is scheduled to vote on her appointment on May 7.
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Linda McMahon, the longtime leader of the Dallas Real Estate Council, will become the first CEO of the newly formed Dallas Economic Development Corporation.
The Dallas EDC announced on May 3 that McMahon was the sole finalist for the leadership position and could take up the position in July. The board is scheduled to vote on her appointment on May 7.
Mr. McMahon will take over an organization dedicated to supporting local businesses, fostering sustainable economic development and strengthening infrastructure in the heart of Texas' largest metropolitan area. Dallas EDC is an independent nonprofit organization focused on strengthening and expanding the City's economic growth by attracting business investment, supporting job creation, and marketing the City's competitive advantages.
The Dallas City Council created the corporation in January 2022 using $7 million in American Rescue Plan Act funding. The Dallas EDC operates separately from the city and was created to promote investment opportunities in the city, especially in the southern sector, and to help sustain Dallas. Competitive against other cities.
While the Economic Development Authority and Dallas City Council still have the authority to approve incentives, the Dallas EDC may act independently regarding real estate transactions and potentially purchase properties for future corporate relocations or commercial space, Dallas said. said Economic Development Director Robin Bentley. , I mentioned earlier.
“Linda McMahon's extensive experience and strategic approach to economic development are perfectly aligned with Dallas EDC's mission. Her visionary leadership is truly leading Dallas into a new era of economic prosperity. That's what we need to boost,'' said John Stevens, Dallas EDC president and former AT&T chief financial officer. said in a statement.
Mr. McMahon has served as CEO of TREC since 2010 and as the founding board member of the Dallas EDC for 18 months.
During her 40-year career, she has focused on some of cities' biggest challenges: housing, workforce development, and transportation.
She led TREC through the creation of the Dallas Catalyst Project, a place-based investment strategy, in 2018. TREC drives resources and investment into underserved communities in Dallas through the DCP Initiative, and so far she has focused on two communities. The City Council launched a strategy in the Forest District, completing 22 projects and investing more than $3 million in the neighborhood.
TREC is currently focused on place-based initiatives in Mill City, working with anchor organizations Builders of Hope, Community Development Corp., Urban Specialists, and Mill City Community Association to address affordable housing needs. , outdated infrastructure, and food insecurity.
“Linda McMahon's leadership of the Dallas EDC signals a bright future for South Dallas,” Dallas City Councilmember Tennell Atkins said in a statement. “Her deep-rooted relationships and commitment to community development, her ability to create meaningful change, and her talent for attracting significant, positive business investment are exactly what Dallas needs.”
Mr. McMahon will lead TREC until June 30th. Her departure means the influential real estate organization will be looking for a new leader. Summer Loveland, TREC's chief financial officer, will serve as interim CEO during the search period, said Mike Geisler, partner at Venture Commercial and chairman of TREC's board.
Geisler said succession planning has been underway for the past two years.
“On behalf of TREC, I would like to express our deep gratitude to Linda McMahon for her dedicated leadership over the past 13 years, which has laid a strong foundation for our organization and which now includes our membership. “I am in the most powerful position in history to represent an organization in Dallas' commercial real estate industry and the issues that impact our industry and change our city,” Geisler said in a statement. “We also want to commend Linda for being selected as the sole finalist to serve as the first CEO of the Dallas Economic Development Corporation. We are confident that her contributions will help Dallas continue to grow and prosper well into the future.” I am sure it will be helpful.”
