The Economic Development Corporation was established as the Benbrook Industrial Development Authority by the Benbrook City Council in 1980. The Authority was converted to a 4B (now known as a "Type B") Corporation in 1995, after a vote of Benbrook citizens approved a half-cent sales tax to fund the corporation. BEDC is a "Type B" sales tax organization, with the legislated ability to fund a number of projects intended to increase economic activity within the city.
The BEDC may fund manufacturing and industrial development, and may pay for land, buildings, equipment, facilities, targeted infrastructure, and improvements to facilitate development to enhance quality-of-life within the community.
The seven members of the Board of Directors are appointed by Benbrook City Council, each serving two-year terms.
In June 2016, the BEDC board approved a revised strategic plan designed to identify and focus efforts of the organization toward attracting and recruiting businesses, retaining and supporting existing businesses, and making strategic investments in infrastructure to facilitate new commercial/industrial development.