The El Paso Regional Economic Development Corporation (REDCo) is the only organization solely dedicated to business relocation and expansion to El Paso, Ciudad Juarez, and Southern New Mexico. REDCo was incorporated in June 2004 by a group of local business leaders who felt strongly that business attraction be operated separately from business retention initiatives. In order to remain focused on the recruitment of new industry to the region, this group of leaders made, and continues to make, significant investment in marketing programs dedicated to REDCo's strategic industry targets. Today, REDCo has a staff of 7 professionals and receives annual funding that is 4 times greater than average funding levels that were dedicated to economic development activities prior to 2004.

At least 85% of operating costs are funded by the private sector. That enables us to draw on the extensive expertise and resources of all our regional communities. REDCo also works with our economic development allies in an effort to ensure that El Paso meets the needs of all business ventures. As clients assess our community for potential jobs and investment, our community partners and allies support our efforts to clearly communicate that our region is poised for companies to locate in the borderplex.

REDCo is primarily focused on the recruitment of high quality jobs and investment in three principal industries: 1) Military/Defense/Homeland Security; 2) Automotive; and 3) Biomedical. REDCo also places emphasis on the recruitment of high value added manufacturing, companies with water-related technologies, white collar jobs, and manufacturing suppliers. We have hired major consultants to assist us with implementing these recruitment strategies for the military-defense sector and for the automotive sector. We plan to hire a biomedical industry consultant in 2008. REDCo has also retained the services of New York-based Development Counselors International (DCI) to manage a national media relations campaign. It is with investor funding that we are able to hire what we feel are the best consultants in the world.

The ability to provide supreme focus on our target industries is unique to REDCo and it is the staff, the board, and the investors who provide the means by which to make it all happen. The results of our efforts speak for themselves. A solid list of announcements, such as ADP, Boeing, EDS, and Electrolux, empowers REDCo to share the experiences of successful endeavors with consultants and clients. Those success stories would not be possible without the financial support of REDCo investors. Contributions are not the only thing investors, board members, and executive committee members give to REDCo. They are a constant source of guidance, encouragement, and client leads.

With a Memo of Understanding (MOU) in place with Mesilla Valley Economic Alliance and Desarrollo Economico de Juarez, El Paso is positioned as a hub to stay engaged in all aspects of economic development. To secure a consistent operating budget of $2 million, we continue to appreciate investments from private sector sources and we will strive to build the best skilled staff to implement our programs. Finally, REDCo will remain regionally focused. After all, El Paso is the city "where the world gets to work".