Economic leader in Phoenix paid in top tier nationally

Last year’s compensation for Rick Weddle, president and chief executive officer of the Greater Phoenix Economic Council, puts him in the top tier of economic development officials nationwide.

Dawn Gilbertson
The Arizona Republic

Weddle was paid $297,769, including an $80,000 bonus, for the fiscal year that ended June 30, according to the non-profit organization’s federal tax returns, filed last month.

GPEC Chairwoman Sharon Harper said GPEC bench-marks Weddle’s pay against pay in other cities every two years.

"This is one of the best organizations in the country, and we know that we need – in order to keep that level of leadership and quality and excellence – to be competitive," she said.

The salary range for CEOs of groups like GPEC is about $175,000 to $275,000, said Jeffrey Finkle, CEO of the International Economic Development Council, which Weddle chairs. Weddle’s salary was $216,806. Bonuses and other perks vary widely so apples-to-apples comparisons between cities are difficult, he said.

"You guys aren’t ahead of the market. You’re not behind the market," Finkle said.

Weddle joined GPEC in July 1997 from Toledo, Ohio, after a national search. His compensation the first year was $172,430. That’s less than his starting salary of $185,000 because he started late, said Bryant Barber, GPEC attorney.

Weddle declined to comment about his pay.

GPEC would not disclose how Weddle’s bonus is determined, beyond saying it is "based on success in accomplishing specific goals and objectives established annually by the GPEC executive committee and board of directors."

http://www.azcentral.com/arizonarepublic/business/articles/0323weddlepay23.html