Author Archives: Greater Cedar Valley Alliance & Chamber

Event to Present Iowa Trade Opportunities with Cuba

Iowa/Cuba Trade Mission

Presented by: Eastern Iowa Chapter of the International Traders

Speaker: Iowa State Senator, Steve Sodders

The Greater Cedar Valley Alliance & Chamber encourages its members to attend a Lunch and Learn event on Cuban Trade . The International Traders of Iowa will host State Senator Steve Sodders to speak about the recent trade mission to Cuba and the potential development of trade between Iowa Companies and Cuba.

Friday, February 26^th, 2016
11:30 to 1:00
Sunnyside Country Club

1600 Olympic Drive, Waterloo, Iowa

11:30 AM Buffet Lunch
12:00 PM Speaker

Members: $15; Non-Members: $20;

Please join the Eastern Iowa Chapter of the International Traders of Iowa for this Lunch and Learn event on Cuban Trade and also meet with other business members to learn more about the International Traders of Iowa. RSVP by February 19^th www.iowatraders.org/eastern.

Action Alert: Business Tax Coupling in Iowa Senate

The Greater Cedar Valley Alliance & Chamber encourages our investors and business owners in the Cedar Valley to contact Senators and encourage them to pass the bill regarding Business Tax Coupling.

The Greater Cedar Valley Alliance & Chamber is closely watching legislation that would allow coupling of Iowa state taxes with federal tax law under Section 179 to allow tax deductions for equipment purchased, certain investments made, and particular individual deductions claimed by businesses in 2015.

Here are some of the items that will not be eligible for a deduction on your Iowa taxes if the Iowa Senate does not act:

Small business equipment purchases (including business vehicles, computers and office furniture)
IRA contributions to charity
Gain from qualified small business stock
Basis adjustment for S corporation charitable contributions
Built-in gain tax five-year recognition period
Educator expense deduction
Qualified tuition deduction
Conservation easement deductions
Deduction for food inventory contributions

The bill has already passed the Iowa House (House File 2092) and is now being considered by the Iowa Senate. Please contact your Senator and encourage them to pass this bill that would couple state and federal tax policies to allow for these business deductions.

District 25 – Senator Bill Dix

bill.dix@legis.iowa.gov

District 26 – Senator Mary Jo Wilhelm

mary.jo.wilhelm@legis.iowa.gov

District 27 – Senator Amanda Ragan

amanda.ragan@legis.iowa.gov

District 30 – Senator Jeff Danielson

jeff.danielson@legis.iowa.gov

District 31 – Senator Bill Dotzler

bill.dotzler@legis.iowa.gov

District 32 – Senator Brian Schoenjahn

brian.schoenjahn@legis.iowa.gov

District 36 – Senator Steve Sodders

steve.sodders@legis.iowa.gov

District 38 – Senator Tim Kapucian

tim.kapucian@legis.iowa.gov

Unsure who to contact? Find your district Senator here.

For more information, contact Steve Firman, Director of Government Relations.

Monday is Caucus Day in Iowa

Monday is Caucus Day in Iowa and we have a responsibility. We have the first opportunity in the nation to vote for the leader whose decisions will impact our livelihoods, companies, careers, families and communities.

Don’t pass up this opportunity to make your voice heard!

KEY CAUCUS INFORMATION

Time

Caucus starts at 7 p.m.

It’s important to arrive early. Party officials recommend participants get to their caucus locations 30-45 minutes before the caucus begins. You need to be registered or in line to register by 7 p.m. or you won’t be able to participate.

Location

Unlike elections, Caucuses are run by the state Democrat and Republican parties, and your caucus location may be different than your polling place.

Find your Caucus Location for the Democrat Caucus here and Republican Caucus here.

Registration

Not registered with a party? You can register at your caucus location by showing documentation of your address (example: utility bill with your current address).

For more information or to register to vote, click here.

Please consider sharing this email with your coworkers and employees to encourage participation on the Iowa caucuses on February 1.

This post shared with the permission of Iowa Association of Business and Industry.

Alliance & Chamber Supports Upcoming Waterloo and Cedar Falls Schools Proposals

Alliance & Chamber Supports Upcoming Waterloo and Cedar Falls Schools Proposals

(Cedar Valley of Iowa) The Board of Directors of the Greater Cedar Valley Alliance & Chamber voted unanimously to endorse two proposals by Waterloo and Cedar Falls school districts. Waterloo Community Schools has a $47 million proposal to build a career center, expand career and technical education and renovate its high schools. Cedar Falls Community Schools proposes to fund upgrades at North Cedar and Orchard Hill elementary buildings and build a new elementary school in southwest Cedar Falls at a total cost of $32 million. The Board took the action following detailed presentations by the districts’ superintendents and questioning during its January 5 meeting.

Specifically, the Alliance & Chamber approved each proposal separately, though in characteristic manner, the actions were combined into one motion, displaying unity of the regional business community.

The board also reinforced the districts’ and superintendents’ design of the programs to provide the benefits of the Career-Technical curriculum to students throughout the Cedar Valley.

Cedar Valley Wide Impact

A compelling factor in the support for the two proposals is the ability for students from outside the host District to enroll in the Career-Technical Education programs, utilizing channels already in place to ensure the District is adequately compensated for the high-value curriculum delivered. Also, both Waterloo’s Academies and Cedar Falls’ CAPS programs will easily transfer credit to Hawkeye and UNI degree programs. This is important to ensure the student can seamlessly continue work toward a degree, obtaining the most current knowledge in the field, and entering the career field at the most opportune time for the student. It also defines clear career pathways for the student, and a quantifiable pipeline of candidates for jobs in the Cedar Valley.

The Alliance & Chamber board believes the taxpayers should approve these proposals. Business and education must work together to ensure continuing growth in our economy, while preparing smart, knowledgeable, engaged citizens. These proposals, well executed, will do both. Plus, a smooth transition to Hawkeye and UNI is precisely what students need to minimize their cost and time spent preparing for a great career in the Cedar Valley.

Cedar Valley Alliance & Chamber Chairman David Braton recapped the discussion of the board, stating, “Workforce development is critical to the growth of the Cedar Valley. The Alliance & Chamber applauds Waterloo and Cedar Falls Schools staff and school boards for taking these bold steps to give our students the best education in a changing world. Workforce development is the key to our economic success.”

Vote “Yes” on February 2 and April 5

The Alliance & Chamber encourages all voters of the Waterloo and Cedar Falls schools to view these initiatives favorably, and as investments in the future generations of Cedar Valley citizens.

Please vote Yes on Tuesday, February 2 for Waterloo’s Career Center and High School Renovation Plan.

Please also vote Yes on Tuesday, April 5 for Cedar Falls’ Elementary Construction & Upgrades Plan.

Waterloo Schools Career Center

The Alliance & Chamber Board recognizes the outstanding research and planning by Waterloo Schools that included broad representation of the business community. The District included the entire community in the development of a plan that matches the needs of students and our businesses. The Waterloo District is focusing the use of this specialized building on implementation of a menu of academies that will begin a student’s preparation for a career in a well-paying and significant job, or even starting their own business. Waterloo plans to implement 15 Academies in school year 18-19, and fully implement the 30-Academy structure by school year 20-21. The first 15 Academies address areas of immediate impact such as Computer Science, Engineering & Robotics, and Bio-medical and Nursing; while others start students toward careers in needed trades and services such as Construction Technology, Computer Aided Drafting & Design, Automotive Technologies, and Manufacturing Technology. These address current and anticipated high-demand skills in the Cedar Valley.

Cedar Falls CAPS and Elementary School Construction Program

Usually, the Alliance & Chamber would not publicly endorse proposals for specific elementary school construction and expansion programs. This time, however, it is important to underscore that modern education requires attention to facility upgrades at all levels of education. Cedar Falls’ student population is projected to increase significantly over the next decade, in contrast to many other locations that are projecting shrinking elementary populations. Cedar Falls’ growth has generated the need for additions onto some schools to eliminate trailer-like, temporary classrooms. The need to add flexibility in the use of the space and install advanced technologies infrastructure in all schools combines with District growth to be sound reasons to support this proposal. During the presentation, the Alliance & Chamber Board focused first on the implementation of the Center for Advanced Professional Studies (CAPS) initiative, and immediately connected success in CAPS at the high school level with the need for modern elementary and middle school facilities.

The mission of the Greater Cedar Valley Alliance & Chamber is to increase economic vitality and wealth by leading collaborative economic and community development. Details about the many programs and initiatives of the Alliance & Chamber can be found at www.cedarvalleyalliance.com or by calling Steve Dust, CEO at (319) 232-1156.

-end-

For further information, contact Steve Dust, CEO, at SDust@CedarVAlleyAlliance.com or Wendy Bowman, Director of Communications at WBowman@CedarValleyAlliance.com or 319-232-1156; or Dave Braton, Chair of the Board, at 319-291-1400 or David.Braton@Lee.net

TechWorks Campus Announces the Launch of the Green@TechWorks

$40M hotel and training center construction set to begin with Tech2 building sale to developer.

(Cedar Valley of Iowa) – The TechWorks Campus, announces the sale of the Tech2 building to Financial District Properties (FDP) and the start of construction of the highly anticipated Green@TechWorks mixed-use project.

Tech2, an 88 year old former John Deere tractor manufacturing building, is the starting point of the Green@TechWorks re-development project. The 180,000 square foot, six-story building will house a 191-room Courtyard by Marriott hotel; third-party restaurant; John Deere Regional Training Center and conference center. The Green is a principal feature of the overall $74M TechWorks Campus river-front re-development.

“It is gratifying to see The Green @ TechWorks become reality. The project will provide our Campus tenants with tremendous amenities just steps from their operations,” said Steve Dust, CEO of the Greater Cedar Valley Alliance & Chamber and President of the TechWorks Campus. “Combined with the industrial 3D printing and design center, labs and shop in Tech 1, and the fantastic new John Deere Tractor and Engine Museum, the opportunities for the TechWorks building sites and the marina become clear. These new operations compliment the downtown Waterloo revitalization and anchors new Cedar Valley developments along the river from Waverly through Cedar Falls to Waterloo. This is a very exciting time in the Cedar Valley.”

Since The Green@TechWorks project was announced in 2012, FDP along with TechWorks has moved forward with steady determination, pursuing federal, state, and local re-development financing, and brokering agreements between the developer, the City of Waterloo, and others.

FDP Managing Principal Rodney Blackwell has significant experience with downtown real estate redevelopment and is recognized for successfully assembling complex financing structures for downtown projects. Earlier FDP projects include the Mississippi Plaza Center in downtown Davenport, IA, and the North American headquarters for KONE Corp. in Moline, IL. FDP is currently developing Machinery Row, a mixed use re-development area in downtown Racine, Wisconsin. FDP also owns the river-front building occupied primarily by the Waterloo-Cedar Falls Courier at 100 East Fourth.

“Despite the inevitable bumps in the road and some unexpected big challenges; creativity, commitment, and a lot of patience tied all the pieces of the financing puzzle together,” says Blackwell. “We are eager to start construction and look forward to delivering a venue that will compliment the Campus and delight the community.”

Helping to finance the project is $12 million from the Waterloo Reinvestment District.

A portion of the TechWorks Campus has also become the first designated Iowa Reinvestment District (IRD). The District, established by The City of Waterloo will provide up to $12M in new state hotel/motel and sales tax revenues generated within the district for capital projects. $8M will be used to pay off bonds financing The Green@TechWorks. $3M will go to the development of the Tech1 building, with $1M boosting a proposed marina development.

The projected economic impact of the District is significant. Up to 562 new permanent jobs will be created to accommodate the anticipated 275,000 annual visitors to the Campus. Visitors are expected to generate $2.9M in annual food, retail and other sales generated on Campus or in the vicinity.

Construction set to begin on The Green@TechWorks.

Interior pre-construction will begin in March with mobilization expected in mid-April. The target opening date for the project is May 2017. The Davenport office of contractor Ryan Companies US, Inc. has been named to complete the project. Ryan Companies’ Greg Lundgren, Midwest President is senior Project Executive Officer.

An estimated 130 people will be employed during the one year construction period. FDP is committed to use local trades and subcontractors to the greatest extent possible. Only when faced with a skill, schedule, or major price constraint outside trades would be sought, according to developer Blackwell.

Amenities for the business class traveler.

Business travelers to the Campus will enjoy the amenities of the 191-room Courtyard hotel, the newest Marriott property in the market. The hotel will be operated by Hospitality Specialists Inc. of Grand Rapids, Michigan. Hospitality Specialists Inc. has been operating hotels for over 30 years with properties in Illinois, Michigan, Wisconsin, Indiana, and Florida.

The John Deere Regional Training Center will be constructed on the 2^nd floor to address a range of skills upgrades for John Deere employees across its operations.

Consolidated Restaurant Operations, Inc. (CRO) of Dallas will expand its footprint to Iowa for the first time with a property in the Tech 2 building. CRO operates more than 91 full-service and 24 franchise restaurants in 17 states and globally. CRO manages brands ranging from the traditional steak house to Tex-Mex. The Green’s restaurant will be a new concept for CRO, consistent with Campus clienteles’ requirements.

$74.1 million TechWorks Campus mixed-use development offers unique opportunities.

The TechWorks Campus site and buildings, donated by John Deere to TechWorks in 2006 is located at the gateway to Downtown Waterloo at Highway 218 and West Commercial Street. The 30 acre TechWorks Campus is currently home to University of Northern Iowa Metal Casting Additive Manufacturing Center and Design Lab, Hawkeye Community College Design Lab, the Iowa Advanced Manufacturing Network Hub, John Deere Tractor and Engine Museum, and Cedar Valley Makerspace. TechWorks Campus is just steps to the Cedar Valley Recreation Trails, entertainment & museum districts, and a variety of Riverloop District amenities.

Four sites are available on the campus for light industrial, research and development, and retail. 100,000 sf remains in the six-floor Tech 1 building for build-to-suit space ideal for light manufacturing and R&D tenants. Six laboratories are also available. Plans for a marina and a riverfront restaurant along the Cedar River are part of the overall $74.1 million Campus development plan.

“Identifying and attracting the right tenant and development is the next priority for TechWorks,” says Cary Darrah, Vice President and General Manager of TechWorks Campus. “My job now is to work with the Greater Cedar Valley Alliance & Chamber development team to help companies understand the tremendous value of locating on the TechWorks Campus. With access to University research and training, a wealth of resources, opportunities to make the right connections and create synergies, the amenities of The Green right outside their door, the Campus location shouldn’t be hard to sell.”

TechWorks Campus is a private non-profit corporation and subsidiary of the Greater Cedar Valley Alliance & Chamber. More information can be found at www.techworkscampus.com or by contacting Steve Dust, President of TechWorks Campus by email sdust@cedarvalleyalliance.com, Cary Darrah, Vice President and General Manager at cdarrah@cedarvalleyalliance.com, or Wes James Facilities Manager at wjames@cedarvalleyalliance.com, or by calling (319)232-1156.

###

TechWorks Bird’s Eye – Looking West (12.2.14) 24×36

New Iowa First-Time Home Buyer Tax Credit Program

FOR IMMEDIATE RELEASE: Monday, Jan. 11, 2016

CONTACT: Governor’s Office 515-281-5211

Ashley Jared, Iowa Finance Authority 515-725-4934

Branstad, Reynolds Announce 2016 First-Time Home Buyer Tax Credit Program

Mortgage Credit Certificates to provide Iowa home buyers with up to $2,000 in annual federal income tax credits

(DES MOINES) – Gov. Branstad and Lt. Gov. Reynolds at their Monday morning press conference today announced that eligible Iowans can now buy a home and reduce their federal income tax liability by up to $2,000 a year for the life of their mortgage through the Take Credit mortgage credit certificate program administered by the Iowa Finance Authority. Approximately 780 home buyers are expected to benefit from the program in 2016, which is now available for new purchases through a network of lenders throughout the state.

“The Take Credit program will not only make home ownership more affordable for first-time Iowa home buyers, but it will also provide an economic boost to Iowa communities,” said Governor Branstad. “This program has the potential to keep $1.5 million in hard-earned income in Iowa, income that would otherwise be spent on federal taxes.”

The program provides eligible home buyers with a tax credit against their federal income tax liability every year for the life of their mortgage. Eligible homeowners may take fifty percent of their annual interest paid on the mortgage loan, up to a maximum of $2,000 per year, for up to 30 years. The remaining mortgage interest may be taken as a deduction from taxable income if the home buyer itemizes.

“Home ownership plays a critical role in both the quality of life for Iowans and our economy,” said Lt. Governor Kim Reynolds. “This program is a win-win for Iowa home buyers and the state of Iowa. I encourage all Iowans planning to purchase a home in the near future to look into this opportunity as well as the Iowa Finance Authority’s mortgage and down payment assistance programs.”

Eligibility for the Take Credit Program requires home buyers to meet household income and purchase price limitations and meet the definition of a first-time home buyer. The federal income limits vary by county and household size, currently ranging from $67,500 to $115,220 per year. A purchase price limit of $258,000 applies statewide with the exception of federally Targeted Areas where the limit is $316,000. A first-time home buyer is defined as someone who has not owned their primary residence in the past three years but also includes home buyers purchasing in a federally Targeted Area and qualified veterans who have not used tax exempt mortgage financing previously.

“Interested home buyers can apply for a mortgage credit certificate through a Take Credit Participating Lender as part of their financing process. Home buyers will need to have approval of the mortgage credit certificate before they close on a home so they should ask their lender about this opportunity early in the application process,” said Iowa Finance Authority Executive Director Dave Jamison.

After an eligible, pre-approved homeowner has closed a mortgage loan with an IFA Take Credit Participating Lender, IFA will issue the homeowner a mortgage credit certificate. The homeowner in turn may apply the credit against their federal income tax liability on an annual basis for the life of their mortgage. The credit may be claimed on IRS Form 8396.

The mortgage credit certificate was authorized by Congress in the 1984 Tax Reform Act and capacity for the program is derived from an annual allocation of tax-exempt bond volume cap from the U.S. Treasury Department. The 2016 Take Credit Program has an allocation of private activity bond volume cap sufficient to issue mortgage credit certificates for mortgages totaling approximately $80 million. The certificates are available on a first-come first-serve basis and the program will be closed for further reservations once available funding has been exhausted. More information is available at IowaFinanceAuthority.gov/TakeCredit.

###

—

Investor Financial Institutions Receive A+ Ratings

Three Greater Cedar Valley Alliance & Chamber investors, Lincoln Savings Bank, BankIowa, and Veridian Credit Union, all received A+ ratings (the highest possible rating) in the report from DepositAccounts.com a bank account comparison site. Each institution stood out in all of the primary evaluation categories, including Texas Ratio, Deposit Growth, and Capitalization.

Each year, DepositAccounts.com evaluates the financial health of every federally insured bank and credit union in the United States – more than 13,000 total. Each institution is graded on a number of factors, including capitalization, deposit growth, and loan to reserve ratios, in order to determine a comprehensive health score.

A more detailed breakdown of each institution’s industry-leading score may be found in the health section of their dedicated bank pages at www.depositaccounts.com/banks/lincoln-savings-bank .html#health, www.depositaccounts.com/banks/bankiowa-of-cedar-rapids.html#health & www.depositaccounts.com/banks/veridian-cu .html#health.

###

For fourth year, UNI is a top 100 ‘Best Value in Public Colleges’

Contact:

Lindsay Cunningham, Office of University Relations, 319-273-2761, lindsay.cunningham@uni.edu

CEDAR FALLS, Iowa — For the fourth year in a row, the University of Northern Iowa is ranked in the top 100 “Best Values in Public Colleges” by Kiplinger’s Personal Finance for 2016.

The ranking cites four-year schools that combine outstanding education with economic value. UNI jumped from No. 86 last year to No. 58 on the 2016 list thanks to its high four-year graduation rate, low average student debt at graduation, abundant financial aid, low sticker price and overall great value.

“We start with a universe of 1,200 schools, so each school on our rankings, from number one to number 300, is a best value,” said Janet Bodnar, editor of Kiplinger’s Personal Finance magazine. “Families can use this list as a starting point and then tailor it to each student’s preference for such things as size, location, campus culture and major.”

A full list of schools can be found at www.kiplinger.com/links/college.

TechWorks Campus Year in Review

It has been a year of tremendous progress on the TechWorks Campus. Watch the progress happen in this brief video as construction progresses, tenants move in, and events take place in Tech 1.

Then download the PDF that outlines all the highlights from 2015 and previews what is to come in 2016.

Grow Cedar Valley