Annual Reports

From the Chairman

We sat down with PEDC Chairman, Rick Lord, to reflect on 2023, and gather insight to what 2024 holds for economic development in Pasadena.

What are some highlights, achievements or milestones PEDC reached in 2023?
In 2023 PEDC reached new heights in partnership with the City of Pasadena including the completion of the Healthy Pasadena Livable Centers Study, the passing of $50M in Sales Tax Revenue Bonds to fund the renovation and expansion of the new Pasadena Arena & Convention Center, and we began work on the installation of a Private LTE Network at the Convention Center Grounds to improve the vendor experience as the first of numerous complimentary projects to the Pasadena Arena & Convention Center Expansion project.

How did PEDC collaborate with regional partners such as the business community, government agencies, and nonprofits to drive economic development in 2023?
In 2023 we were able to expand our philanthropic footprint by supporting more Pasadena nonprofits in an effort to elevate the City’s quality of life. We also elevated our marketing footprint placing Pasadena front and center in local industry and economic development publications and conventions. We also increased awareness around our Pasadena Loves Local program through small business events, Business Retention & Expansion efforts and enhanced marketing efforts.

What are PEDC’s key priorities and initiatives in 2024?
PEDC’s key priorities in 2024 will be hitting milestones in our roster of economic development projects, increasing our engagement in the business community and strengthening our partnerships with regional economic and community development
organizations.

What PEDC projects can the community look forward to in 2024?
We are thrilled to begin work on Pasadena Boulevard, the city’s namesake corridor, to spark investment in the areas surrounding the project’s bounds from HWY 255 to Harris Ave at one of the primary gateways to the City. We are also looking forward to completing the improvements on Richey St from Southmore Ave to South Houston Rd which is a major commercial corridor in the community. Additionally, the community can look forward to seeing a lot of development activity at the new Pasadena Arena & Convention Center (read more about the project on page 7).

Sincerely,

Rick Lord
Chairman
Pasadena Economic Development Corporation