The San Antonio Economic Development Foundation announced Tuesday a name change to reflect its more regional approach to economic development.
The organization’s new identity, Greater: SATX Regional Economic Partnership, comes nearly five decades since the organization was founded for the purpose of attracting new businesses to the city.
But the economic development group’s name had in recent years “proven to be limiting and unclear,” said Jenna Saucedo-Herrera, president and CEO of Greater: SATX.
“Our organization has evolved past our name,” she stated in a post on LinkedIn. “We’ve reached a pivotal point in our history to be and do greater than anything our organization has ever done before.”
The new name better represents the entire region that the economic development organization promotes — and its purpose.
Through partnerships with others working to promote South Texas as a good place to do business, the region that Greater: SATX supports now encompasses all of Bexar County and seven surrounding counties.
Its focus as a public-private nonprofit is on business attraction, expansion, and retention; global business development; talent development; and incentives and benefits. (“We don’t like taxes in Texas,” states the newly unveiled website.)
Founded in 1974, the organization has been evolving in recent years. In early 2020, officials announced a shift to its strategy for capturing the kind of blockbuster deals that scored manufacturing projects for San Antonio like Navistar’s new plant and Toyota’s $391 million expansion during the previous year.
The new strategy confronts some of the city’s biggest challenges when competing with other cities, such as educational attainment and health outcomes.
But by spring, the COVID-19 pandemic had forced another shift and a focus on helping sustain local businesses and developing an economic recovery dashboard.
With the worst of the pandemic past, earlier this year the group’s leadership launched a five-year fundraising campaign. Dubbed “All In,” the campaign seeks to raise $38.5 million, which would double the organization’s current budget and support initiatives targeting areas such as corporate recruitment and training and education.