View the three part video of Steve Dust, CEO of the Greater Cedar Valley Alliance & Chamber on KWWL’s Steele Report.
Tag Archives: business expansion
Dust Optimistic About Cedar Valley Economy – Part 1
View the three part video of Steve Dust, CEO of the Greater Cedar Valley Alliance & Chamber, on KWWL’s Steele Report here.
Dust comments on Deloitte study of Iowa’s competitiveness
In a recent Courier article Steve Dust, CEO of the Greater Cedar Valley Alliance & Chamber and chairman of the Iowa Chamber Alliance commented on a recent study performed by Deloitte Consulting LLP.
The study was commissioned by ICA in hopes to provide the Legislature and policy makers current information about where Iowa lines up competitively with the study’s benchmark states. Read the entire Courier article by Jim Offner here.
Iowa Chamber Alliance study finds Iowa’s economic development toolkit effective, but under resourced
The study rates Iowa’s competitiveness with its neighbors and other highly competitive states in economic development programs
Des Moines, Iowa – The Iowa Chamber Alliance, a non-partisan coalition representing the 16 largest chambers of commerce and economic development organizations throughout the state, released today a new study examining Iowa’s relative competiveness in its economic development efforts. Deloitte Consulting LLP was commissioned to examine the competitiveness of Iowa’s state-level economic development incentives.
“This study confirms Iowa’s approach to economic development incentives is on the right track, but it also demonstrates that Iowa does not resource its economic development incentives at a competitive level,” said John Stineman, Executive Director of the Iowa Chamber Alliance.
The Deloitte study found that Iowa lags only behind Texas in the “usability” of its economic development incentives – an important factor in how a state measures up in competing for economic development investments. Texas is widely considered one of the most aggressive states in economic development in terms of its incentive funding, its programs and its business-friendly tax and regulatory climate.
However, on the financial value side of economic development – the ability to impact projects through financial incentives – Iowa lags significantly behind its neighbors as well as other leading economic development states.
“It is clear Iowa punches above its weight class in economic development. The approach and programs we have are working and the proof is in the projects. The question is, how many projects are we missing out on because we simply do not resource economic development efforts at a competitive level?” said Stineman.
The study examined Iowa’s economic development programs and funding compared to five other states: Minnesota, Nebraska, South Dakota, South Carolina and Texas. South Carolina and Texas are consistently ranked as highly competitive states for economic development.
Other key findings of the study include:
- Iowa is at a competitive disadvantage in the availability of discretionary funds to help close deals as well as in offering corporate tax exemptions.
- Iowa performs at peer level in property tax exemptions, sales and use tax exemptions, and research and development tax credit programs.
- Iowa has a competitive advantage in its workforce development incentive programs.
- Other states have caught up to and begun to pass Iowa in data center and technology incentive programs – an area where Iowa was considered a leader previously.
“Iowa has a solid base of state-level economic development incentives tools upon which to build. However, to become more competitive, Iowa may wish to increase the funding level and flexibility of some of the State’s key incentive programs” states Darin Buelow, a Principal with Deloitte Consulting LLP.
- The recommendations from Deloitte Consulting include:
- Consider increasing the cap on Iowa’s economic development tax credits
- Evaluate options to offer a “Deal Closing Fund” or more discretion to the Iowa Economic Development Authority in awarding direct financial assistance
- Consider allowing the sale, refund or transfer of economic development tax credits
- Consider expanding the Brownfield/Grayfield Redevelopment Tax Credit program
- Consider augmenting Iowa’s data center incentives.
“The opportunity is there for Iowa. We are well positioned to compete – if we resource our economic development efforts at the right level. We also need to review our programs to ensure we have usable and valuable incentives to help Iowa continue its economic growth in the future,” said Stineman.
For more information about the Iowa Chamber Alliance’s positions and legislative agenda, please visit www.iowachamberalliance.com. Copies of the study will be made available upon email request to john@iowachamberalliance.com.
About the Iowa Chamber Alliance
The Iowa Chamber Alliance’s mission is to put forth and enact an agenda to grow the state’s economy through support of proactive programs that stimulate economic growth opportunities for the entire state and its residents. The Alliance members include chambers and economic development organizations in: Ames, Burlington/West Burlington, Cedar Rapids, Council Bluffs, Des Moines, Dubuque, Fort Dodge, Iowa City, Marshalltown, Mason City, Muscatine, the Quad Cities, Sioux City and Waterloo/Cedar Falls.
GCVAC SETS 2013 CEDAR VALLEY LEGISLATIVE AGENDA FOR ECONOMIC PROGRESS
WATERLOO/CEDAR FALLS, IOWA (Jan., 2013) – The Board of Directors of the Greater Cedar Valley Alliance & Chamber recently adopted the 2013 Cedar Valley Agenda for Economic Progress. Assembled by its Government Relations Committee, local economic development partners, and its staff team of the Alliance & Chamber, the Agenda, assembled annually, reflects the priority issues requiring action by the Iowa Legislature to advance the business and civic interests of the Cedar Valley economic area.
The five areas of focus are: (1) economic development programs and incentives, (2) talent and workforce development and recruitment, (3) improving Iowa’s tax climate, (4) education transformation, and (5) critical physical infrastructure.
“Our Iowa agenda is focused on business climate, competitiveness, and critical workforce issues, said Steve Firman, Director of Government Relations of the Greater Cedar Valley Alliance & Chamber. “It’s also about making Iowa and the Cedar Valley more competitive and attractive for starting and expanding businesses of all sizes, and building a career,” Firman concludes.
The agenda was formally announced during a December 5th Pre-session Legislative Reception event for the Cedar Valley delegation of the Iowa legislature. The annual reception is traditionally co-sponsored by the Alliance & Chamber, Cedar Valley Manufacturers Associations, and REC of Butler-Bremer-Buchanan-Grundy Counties- each of which unveil their respective agendas for the session – and hosted by the Isle Casino Hotel – Waterloo. The legislators attending the event this year included: Sen. Bill Dix and Sen. Bill Dotzler, Rep. Pat Grassley, Rep. Sandy Salmon, Rep. Walt Rogers, and Rep. Bob Kressig.
The Government Relations Committee is chaired by Mike McCrary of Lincoln Savings Bank. The Legislative Agenda can be accessed at the Alliance & Chamber Government Relations web page Iowa Prosperity Project-Cedar Valley.
The Greater Cedar Valley Alliance & Chamber is a regional economic and community development organization focused on increasing economic vitality and improving the quality of life in the Cedar Valley economic region. Cedar Valley area business and community leaders created the Alliance to align economic development efforts and increase the region’s competitiveness in the global economy. Combined, the organization represents over 900 businesses with 50,000 employees.
Hydrite Chemical Company expands Waterloo facility
December 27, 2012 (DES MOINES, IA) – The Iowa Economic Development Authority (IEDA) board today awarded financial assistance to three companies for job creation and expansion projects. Today’s awards will assist in the creation of 96 jobs, retention of nine jobs and will result in over $9.9 million in new capital investment for the state.
The board held a telephonic meeting today to take action on three of the seven projects that were to be considered at the Dec. 20 meeting that was cancelled due to weather. The other projects will be reviewed at future meetings.
Hydrite Chemical Company expands Waterloo facility
Hydrite Chemical Company, one of the largest manufacturers and distributors of chemical products in the U.S., plans to expand its existing Waterloo facility to increase production capacity with the assistance of board-approved tax benefits. The project is expected to create nine jobs, retain one job and represents a capital investment of $8.83 million.
‘Dream Big Grow Here’ receives Mid-American EDC economic development award
‘Dream Big Grow Here’ receives MAEDC economic development award
CEDAR FALLS, Iowa — The University of Northern Iowa’s Dream Big Grow Here program received first place in the Mid-America Economic Development Council’s 2012 annual Economic Development Awards’ online marketing category in the small market division.
Dream Big Grow Here was started by the UNI Regional Business Center through MyEntre.Net, Iowa’s online community for Iowa entrepreneurs and small business. The contest is a way to award grants to deserving small businesses and entrepreneurs to help them grow their businesses in Iowa. In 2012, hundreds of Iowa companies from nearly 60 different communities competed in one of 10 regional Dream Big Grow Here contests for $5,000. The regional award winners then compete for a $10,000 grand prize.
The Mid-America Economic Development Council is dedicated to enhancing economic developers’ knowledge, capabilities and opportunities through multi-state networking, education and site selector interaction. For many years, it has sponsored the annual Economic Development Awards competition to recognize and stimulate the creative use of quality marketing by economic development organizations throughout the 10-state Mid-America region in promoting their respective communities. MAEDC’s awards partner is Site Selection magazine, and all first-place winners will be highlighted in an ad in the January issue of Site Selection magazine.
For more information about MAEDC, please visit www.maedc.net.
The Greater Cedar Valley Alliance, in partnership with UNI’s Small Business Incubator and Regional Partners, hosted the 2012 and 2013 Cedar Valley Dream Big Grow Here contests. More information can be found at http://cedarvalleyalliance.com/cms/238/Cedar_Valley_Innovation_Day.
GCVAC Work the Valley Talent Tells All Event to Help Employers See What They Are Missing.
The Greater Cedar Valley Alliance & Chamber is bringing together a panel of recent college graduates and young professionals to share ideas for how the Cedar Valley employers can become more engaged with the local, YP population.
CEDAR VALLEY of IOWA (December 3, 2012)—On Friday, December 7st from 10 am-12pm, the Greater Cedar Valley Alliance and Chamber (GCVAC) will host a panel discussion to help Cedar Valley employers improve their recruitment practices. This event, titled Talent Tells All, part of the GCVAC’s “Work the Valley” program, will feature approximately six, young professionals who chose positions in communities outside the Cedar Valley. The goal of the event is to provide candid feedback in order to make Cedar Valley employers more competitive and attractive to college graduates and young professionals. All Cedar Valley business leaders and HR professionals are encouraged to attend the event to be held at Hilton Gardens Inn & Conference Center, 7213 Nordic Dr., Cedar Falls, IA.
“We are always looking for better ways to attract and retain talented young professionals. Work the Valley events help us highlight the outstanding opportunities the Cedar Valley has to offer. We believe the fresh perspectives and frankness of the Talent Tells All conversations will help Cedar Valley employers increase their competitiveness in the race to secure highly skilled talent,” said Steve Dust, CEO of GCVAC.
Talent Tells All, made possible by a partnership with UNI Career Services, is part of the GCVAC’s focus on workforce development for the Cedar Valley. Having more young professionals choose local opportunities over those in outside communities, is a key to business growth and innovation says Britt Jungck, Director of Business Services for the Alliance and Chamber, “Our goal is to increase the contact between our top employers and the emerging talent in this community. We want our young professionals to see the career opportunities and become inspired to get invested in our community, and we want our businesses to get access to fresh ideas through this impressive generation of rising professionals.”
Employers interested in attending the event or desiring more information on GCVAC workforce initiatives can contact Brittany Jungck, Director of Business Services at the GCVAC office: (319) 232-1156.
###
Top ED Recommendations to the Obama Administration
As part of their Winning the Race 2012 series of policy briefs, the Information Technology and Innovation Foundation (ITIF) offers this policy brief titled: TOP POLICY RECOMMENDATIONS FOR THE OBAMA ADMINISTRATION TO HELP THE UNITED STATES WIN THE RACE FOR GLOBAL ADVANTAGE. The brief addresses five key areas; Trade Sector Competativeness, Taxes, Science and R&D, STEM, and Skills Digital Economy.
ITIF is a non-partisan think tank whose mission is to formulate and promote policies to advance technological innovation and productivity internationally. For more information on ITIF, go to www.itif.org.