The idea to create an organization that would be responsible for community economic development in the City of Timmins began in early 1982 at the Timmins-Porcupine Chamber of Commerce. The Terms of Reference were presented to municipal council and on March 29, 1982, City of Timmins councillors voted to establish the Timmins Joint Economic Development Committee.

The Timmins Joint Economic Development Committee consisted of municipal representatives, Timmins-Porcupine Chamber of Commerce, Downtown Business Improvement Area, Labour and Resource Sector representatives. It was charged with exploring various types of economic development models and to provide a recommendation to council. The representatives of the committee felt that this particular organizational model would provide the most flexibility for the organization.  After months of hard work and dedication, the recommendation to create a non- profit, non-share capital economic development corporation was presented to Council.  Acting quickly on the Committee's recommendations, the Timmins Economic Development Corporation (TEDC) was created.

One of the key reasons for the success of the Timmins Economic Development Corporation has been its strong partnership with community partners. The Team Timmins approach has been successful since the inception of the TEDC.