The Lubbock Economic Development Alliance and Visit Lubbock Announce Recognition of 2023 Economic Development Week and National Travel and Tourism Week
The Lubbock Economic Development Alliance (LEDA) marks the week of May 8 to May 12, 2023, as the next Economic Development Week. During this week, communities across North America will celebrate and recognize the contributions made by professional economic developers to create more economically vibrant and livable communities.
In conjunction with the U.S. Travel Association’s National Travel and Tourism Week (NTTW), which is highlighting the impact of economic developments on the tourism industry, LEDA and Visit Lubbock are partnering to highlight the significant investments and monumental growth the city has experienced and its effects on tourism to Lubbock.
Since 2016, Lubbock’s annual tourism numbers have increased by 11.5%. The city has also added 15 hotels and hotel rooms have increased by 20.5%. 140 tourism jobs have been added and tax revenues paid to the City of Lubbock increased 27.7% from 2016 to 2021.
NTTW is the annual celebration of the contributions of the U.S. travel industry, will spotlight the essential role that travel will play in driving economic growth and innovation through the theme #TravelForward.
“The travel industry fuels every industry—our industry’s success is the nation’s success,” said U.S. Travel Association President and CEO Geoff Freeman. “This week is a prime opportunity to elevate the message that travel is essential to moving America’s economy forward.”
Established in 1983, NTTW is an annual tradition to mark the U.S. travel industry’s role in stimulating economic growth, cultivating vibrant communities, creating quality job opportunities, stimulating business activity and elevating the quality of life for everyday Americans.
Travel serves as a catalyst for a productive U.S. economy and helps power the success of other industries. The U.S. travel industry generated a $2.6 trillion economic output in 2022 and supported 15 million jobs, fueling communities, small businesses and working families across the country.
Travel spending also generated nearly $160 billion in federal, state and local taxes in 2022—revenue that helped fund critical public services while saving each U.S. household an average of $1,270 in taxes.
“Over the past decade, Lubbock has seen significant growth not only in population and average annual visitors, but also across our city in meaningful developments that not only improve the quality of our citizens lives but attract tourism from across the country and around the world,” said Brett Cate, Chairman of the Board of Market Lubbock. “From the significant investments into our downtown and across the city that take form as new hotels, local restaurants, performing arts halls, sports facilities and entertainment venues, Lubbock has become a destination with an average 6.5 million visitors per year.”
Created in 2016 by International Economic Development Council (IEDC), the largest international professional trade association for economic developers, Economic Development Week aims to increase awareness for local programs that create jobs, advance career development opportunities, and improve the quality of life in communities everywhere.
“As local and regional economies evolve, the role of economic developers and development organizations are crucial in energizing, preparing, and promoting local economic growth,” says IEDC President & CEO Nathan Ohle. “The 2023 Economic Development Week will recognize, distinguish, and show appreciation for the innovation and leadership of our community leaders building an equitable, sustainable, resilient, and inclusive future. I hope communities everywhere will join us in celebrating the accomplishments and important work economic developers perform in their communities year-round.”
This week, the organizations are celebrating with the list of events below:
Monday, May 8: Annual Live Love Lubbock Luncheon
Thursday, May 11: Press Conference announcing the creation of over 400 jobs and an investment of nearly $500 million in the Lubbock economy
For more information, visit lubbockeda.org, visitlubbock.org and follow along with @lubbockeda and @visitlubbock on all social media.
Since its inception in 2004, LEDA has assisted 249 companies with their expansion or relocation to Lubbock. These companies committed to creating 12,388 jobs and investing more than $2.2 billion in new capital improvements that have resulted in $2.0 billion in value-added impact to the Lubbock area.