Item No.          9a 
Meeting Date: March 13, 2018 
Regional Trade & Economic
Development Alliance 
Creating a new economic development
organization for the Puget Sound region 



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PURPOSE   To establish a 'best-in-class' economic and trade development 
organization to bring broad-based jobs and opportunity to the
residents of the Puget Sound region. 
Boeing 777X and Amazon HQ2 reinforced that our region is
STORY      competing globally. We need to work together as one region to
compete for jobs and opportunity. 
1. Companies look at regions when considering expansion and 
location options. 
WHY?      2. Effective business recruitment programs need great research and
analysis to tell our story, understand our competition and support 
businesses. 
3. Marketing messages need to be consistent, targeted and
told at a regional level to national and international 
businesses.

2017 
Objective: Align the region's economic & trade development efforts and
create a world-class organization 
Benchmarking of "best-in-class" economic & trade development efforts 
Site visits to Columbus 2020, Opportunity Austin and Greater Houston Partnership 
Working groups formed to develop an operating model for a regional
economic development organization. 
Mission, goals and metrics 
Governance structure 
Relationship between Trade Development Alliance of Greater Seattle (TDA), Economic Development
Council of Seattle and King County (EDC) and China Relations Council (CRC) 
August Decision: Build the regional economic development organization to serve the Puget Sound region.

HISTORY 
Q4 2015           TDA established strategic planning effort 
Jan-May 2016    Regular board, executive committee discussions on direction 
May 2016         Decision to grow TDA's scope of influence, engage EDC, 
WSCRC 
Summer 2016    Discussions between TDA, EDC, CRC 
Dec 2016          Decision to engage Challenge Seattle 
Aug 2017          Decision to pursue new Regional org, with TDA, EDC as
components (except ADO function) 
2017               Challenge Seattle led process on best practices in and
future of economic & trade development 
Organizational development underway 
2018 to date      EDC and TDA Board vote to join REDA

NEXT STEPS 
1.  Executive Search: 
Search firm retained to recruit CEO - anticipate CEO hire by April 
A search committee has been established, with co-chairs Marilyn Strickland, Brad Smith
and Phyllis Campbell 
2.  Seed Funding 
Fundraising goal of $2 million (75% private) 
o Port asked to contribute $50,000 (which is in 2018 budget) 
One-time money for the start-up phase of the organization: 
Retain a consultant to develop a strategic plan. 
Undertake a capital campaign 
Incorporate as nonprofit and operationalize the organization 

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PROPOSED ORGANIZATIONAL & ENGAGEMENT STRUCTURE 
Organizational Structure              Engagement Structure 
Chief Executive Officer                          Executive Board 
C-suite Level Private 
Sector Representation 
Public Sector Elected Officials 
Business     International  Branding &  Research &    Operations    Strategic Decision Making 
Attraction     Engagement    Marketing    Analysis 
Leadership Council 
Public and Private Sector Representation 
High-Level Advisory Board to the CEO 
Investor Board 
Public and Private 
Sector Representation 
Tiered Engagement Levels

GOVERNANCE & ENGAGEMENT 
Three boards to enhance region wide engagement and participation. 
The Executive Board: An outward facing board that is geographically, size,
and sector-diverse to best represent the entire region. 
o  Composition will be private sector C-suite executives and twelve elected
officials from the region. 
The Leadership Council: High-level advisory group to the CEO to provide
strategic and tactical guidance. 
o Formulates annual workplan and budget, provides operational guidance
and takes part in on-going programs and activities. 
o Public, private sector and ADO representation. 
The Investor Board: Open to all businesses, municipalities and regional
government agencies interested in participating in the region's economic and
trade development.

Port of Seattle Considerations 
1.  Invest in REDA (now and during capital campaign) 
2.  Ensure Key Port Clusters Remain Targets for
Recruitment and Foreign Direct Investment Efforts 
3.  Ensure that Business Retention/Expansion initiatives
are sustained and remain robust 
4.  Participation in Regional Strategy/Plan Development 
5.  Port of Seattle Commissioner will serve on REDA
Board 
6.  Adjust focus of ED Partnership Program with Cities
to ensure regional recruitment efforts are aligned