Linda McMahon Named First CEO of Dallas Economic Development Corporation
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The City of Dallas has an important story to tell, and Linda McMahon is already writing headlines.
McMahon announced last week her departure from The Real Estate Council after 13 years. The Dallas Economic Development Corporation unanimously appointed her as the organization’s first CEO following an executive session at its regular meeting Tuesday.
Dallas Economic Development Corporation board president John Stephens said McMahon’s depth of experience and strategic approach align perfectly with the EDC’s mission.
“Her visionary leadership is exactly what we need to propel Dallas into a new era of economic prosperity,” he said.
McMahon has been at the forefront of Dallas real estate and housing issues for a long time but recently proved she’s a force to be reckoned with. She spoke out against building permit fee increases. She led the charge in exploring Community Land Trusts for Dallas. She championed the need for philanthropic partnerships through the Dallas Housing Opportunity Fund.
But the EDC is not solely focused on housing, McMahon told CandysDirt.com on Thursday.
“The EDC was created to attract businesses and to grow business in the City of Dallas and to be the public developer of real estate for the City of Dallas,” she said. “That business attraction, that engagement, and identifying opportunities to grow our tax base with new businesses is our No. 1 priority.”
Linda McMahon’s Commercial Real Estate Experience
While she does have extensive experience in banking and housing, McMahon is also a commercial real estate guru. She led the city’s bid for an Amazon headquarters facility in 2018 at the request of former Mayor Mike Rawlings.
“Commercial real estate has been engaged in economic development, and the growth of the City of Dallas and the growth of the region has been driven a lot by commercial real estate,” she said. “Housing is definitely important to the city and I don’t want to discount that, but the priority of the EDC is to grow existing businesses — and we don’t want to leave anyone behind — and identify new future businesses that could flourish and expand with our great workforce, our great education system, all the positives we have.”
The headline, McMahon emphasized, is that Dallas is the place to be.
“We have a story to tell, and we just really need to be good at telling that story and focusing on the City of Dallas as the epicenter of business growth,” she said.
Community Reaction to McMahon’s Appointment
Dallas Mayor Pro Tem Tennell Atkins said McMahon’s leadership at Dallas EDC — where she’s served as an inaugural board member since 2022 — signals a bright future for Southern Dallas
“Her deep-rooted relationships and commitment to community development, her ability to enact meaningful change, and her talent for attracting significant, positive business investments are precisely what Dallas needs,” Atkins said in a statement.
District 1 Councilman Chad West said in his May 3 newsletter he’s excited about the appointment.
“Over the last five years, I’ve had the pleasure of working alongside Linda and her team at The Real Estate Council on numerous city-related issues,” West said. “One major issue in the city right now — the need for more workforce housing — is a focus that Linda has always shared with me. I’m optimistic that Linda … will bring her passion for facilitating more workforce housing to the EDC, ensuring that the EDC will not only promote more corporate relocations to Dallas but also promote the construction of new homes for the relocated employees to buy and rent.”
TREC board chairman Mike Geisler said McMahon’s leadership created a solid foundation for the organization and now places it in its “strongest-ever position to represent members, the commercial real estate industry, and issues that transform Dallas,” according to a recent WFAA report.
“We are confident that her service will help Dallas continue to grow and prosper well into the future,” Geisler said.
TREC Chief Financial Officer Summer Loveland will serve as interim CEO while a search is conducted for a new leader. McMahon will stay on at TREC through June 30.
McMahon said she began working with an executive coach on a succession plan about two years ago and is confident that The Real Estate Council will continue to thrive.
“Our focus for the last year at The Real Estate Council is building the best and strongest team ever,” she said. “We have a strong team of people. I am not worried about The Real Estate Council at all. Our leaders and former leaders and staff are committed to making sure The Real Estate Council is still impactful and influential in making a change in the City of Dallas.”
Economic Development Corporation’s Charge to Recruit New Business
A shuffle recently occurred in the City of Dallas’ economic development structure. Former Director Robin Bentley was promoted to assistant city manager last week, Bentley will still oversee Economic Development, and Kevin Spath took over as interim director.
The EDC launched in January 2022 with $7 million in American Rescue Plan Act funds. Dallas leaders have acknowledged that the ninth-largest city in the U.S. was late to the party in forming an EDC.
Stephens said many municipalities fund such corporations through a percentage of sales tax revenue; Dallas allocates that percentage to Dallas Area Rapid Transit.
The Dallas EDC operates separately from the city and was created to drive investment opportunities to the city, especially in the southern sector, and help Dallas stay competitive against other cities, according to the May 4 WFAA report.
The City’s Economic Development Department and City Council can approve incentives, but the EDC can independently pursue real estate deals and buy property for corporate relocations or commercial space.
Stephens spoke exclusively to CandysDirt.com in October about the EDC’s future plans.
“We can make a difference,” he said. “We can generate jobs. We can generate investment, particularly in underserved areas of Dallas. You’ve got to keep the core of the metropolitan area healthy. You’ve got to keep the heart of the body healthy.”
“Living wage-plus” jobs and new development in underserved areas will benefit the entire city, Stephens added.
“If I’m a Preston Hollow guy and my street has got a lot of potholes and I want to get them fixed, the best way to do that is [invest in] the whole city’s economic situation, so there’s enough money to fix my potholes,” he said. “Personally, I believe a good job is the best solution long-term for many of the social challenges we face, whether it’s food deserts, affordable housing, medical care, or crime. I believe people want to work.”
