Tag Archives: business

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

View study here

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.

View the study here

Creating The Place to Start A Business.

By: Steve Dust

The Cedar Valley economic area thrives on successful businesses that began one day when its owner said, “I can do that – better.” Some of these former startups are still identified with the owner – while others have grown into international business powers.

All over the Cedar Valley there are examples of people who are passionate about something, determined that no one can do it any better than they, and opened a business to prove it – people like the Bertch family, the Far Reach Technologies partners, or Van Miller’s growing-every-day-into-something-different VGM, or the CBE Group, or Mudd Advertising, or….

As their business grew, each of them discovered the value of our government relations, information, education, and networking resources, the market growth spurred by ongoing promotion, and all the other things your professional team does to make the Cedar Valley a vibrant place for business startup and growth.

An observer of business startup and growth trends in the US, Brad Feld, recently wrote, Startup Communities – Building an Entrepreneurial Ecosystem in Your City. Based on his decades of starting businesses, becoming an early stage venture capitalist, and now known for his highly (some would say outrageously) successful Foundry Group in Boulder, CO, Brad eloquently writes about the role of organizations like the Alliance & Chamber in creating and sustaining that Entrepreneurial Ecosystem mentioned in the title.

The very best role the Alliance & Chamber can play to foster a robust Startup Community – that encourages a faster rate of business startups and attracts more people with the desire to take the entrepreneurial plunge is: Cheerleader and Feeder. In other words, Support.

Work on economic vitality – grow the market! Create a place where startups have the best chance of success: work on infrastructure like broadband, and amenities to create a vibrant, economic base
Make connections – directly, to new sales or service opportunities, or indirectly with exposure to customers and vendors and service providers through networking events, and to other feeder organizations – like UNI’s Center for Business Services and SCORE.
Inform them – with inexpensive access to high quality service providers in educational sessions on topics of interest to new businesses – like healthcare reform, social media tools, or the like – delivering info those new business owners will use to increase business results and avoid pitfalls.
Work with local and state government to keep them out of the way of business startup and success. Though almost always well intentioned, government gets in the way of startups and growing business with the increased cost of complying with or being constrained by this rule or that

policy/ordinance/statute.

Be the gathering place for startup community leaders. The leaders of our start up community must be people who have recently started their own businesses. As busy as they are, other owners of startup businesses are the best to relate to and offer actionable advice on the startup experience. The Alliance & Chamber is the platform – the roost – for emerging entrepreneurs to gather, and share their own experiences. It’s also great feedback for the Alliance & Chamber to build its Cedar Valley Start Up action agenda.

Believe me: there’s a lot of competition among places for business startup activity. We, and they, understand the economic power of startups, and the culture it engenders for addressing social as well as economic issues. Your Alliance & Chamber is motivated and equipped and working to ensure that the Cedar Valley economic area is an attractive place to take that giant step – the one taken by every person when they’ve uttered the words, “I’m starting a business.”

Digging in . . .Two Weeks In.

Week two is now behind us, and the Legislature is settling into the hard work of the session. Budget work has begun in earnest and major policy proposals, like the Governor’s education reform package, have begun to be deliberated in committee.

New legislators are beginning to find their routines and the Capitol is abuzz morning, noon and afternoon with the many groups and associations coming to Des Moines to educate policymakers on their issues and jockey for support.

Yes, it is late January in Des Moines.

So far the 85th Iowa General Assembly has been relatively smooth. But now they are starting to dig into the big issues and the new Assembly will be tested quickly on whether or not it will be different than the past two years where bipartisan agreement was hard to come by. Only time will tell.

There are, of course, a lot of issues for legislators to come together and support.

Education reform is at the top of the Governor’s list and has the attention of legislators from both chambers and both parties. Iowa’s schools have not kept up with the rest of the country. Our time on top has passed, and now we dwell in the middle of the pack. Real reform is critical, and the proposals coming out of the reform task force are a very positive step forward to help our children be prepared for the future and to help ensure Iowa’s workforce is strong and relevant.

Property taxes are again a major topic – as they should be with the past two sessions seeing much discussion, but no agreement on reforming Iowa’s uncompetitive commercial/industrial property tax system. The Governor has a new proposal on the table that will guarantee local governments will not lose revenue as a result of rolling back business property taxes. 2013 may well be the year to address this important issue that has been a hindrance to Iowa businesses and economic growth for decades.

Economic development issues are always lively under the Rotunda. Last year there was a fight over tax increment financing (TIF). This year, tax credits are under scrutiny as a response to some of the larger tax credits awards in Iowa history being involved in securing two of the biggest capital investments in Iowa history. Iowa’s economic development activity is on a major upswing, creating thousands of jobs. The Legislature needs to restore tax credits to their previous level of $185 million, rather than being critical of them. Direct incentives warrant proper funding as well.

There are several opportunities for the Legislature and the Governor to come together to help advance Iowa’s economy. The Iowa Chamber Alliance will be in the mix, advocating for economic growth and sound public policy. Check www.iowachamberalliance.com for updates.

For questions, please contact Iowa Chamber Alliance Executive Director, John Stineman, at john@iowachamberalliance.com

Governor to Visit Cedar Valley

“Our Opportunity. Our Iowa.” Govenor Branstad’s Condition of the State Tour/ Cedar Valley Stop
01.24.13, 8:15 am, Five Sullivan Brothers Convention Center

All Alliance & Chamber investor/members are encouraged to demonstrate the strength and vitality of the Cedar Valley business community and hear about the issues that affect you and your business by attending this special event, Thursday, January 24th. The public is invited to attend.

Highlights:

Providing Property Tax Relief
Making our Schools the Best in the Nation
Improving Iowa’s Quality of Life

Registration is appreciated. Click here.

Read the Govenors 2013 Condition of the State Address

“Our Opportunity. Our Iowa.” here.

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.

Iowa’s Business Climate Great Across Sectors and for Start Ups

Great profile of IOWA biz climate in Delta Sky mag. Penned by Cedar Valley’s Courier writer Jim Offner. Read it here.

‘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 NOW ACCCEPTING NOMINATIONS FOR ANNUAL AWARDS

The Greater Cedar Valley Alliance & Chamber announce nominations are open for a variety of business awards to be presented during the 2013 Annual Celebration on Thursday, March7^th at the 5 Sullivan Brothers Convention Center. “The Greater Cedar Valley Alliance & Chamber Annual Celebration is one of my favorite events. It gives us the opportunity to thank all our investors and members for all they do to make the Cedar Valley a great place to do business. The businesses and individuals recognized always bring inspirational stories of success. It’s the high point of the evening,” said Bob Justis, Greater Cedar Valley Alliance & Chamber.

Do you know of an individual who should be recognized for their contributions in creating a strong business climate and enhancing the quality of life in the Cedar Valley by continued service and leadership? Has a business or organization, made an outstanding contribution to the Cedar Valley and its citizens on a continued basis or with a specific project? You are encouraged to nominate them for recognition of their contributions.

“The nominees and award winners demonstrate what a successful economy we have. It’s important and fun to recognize those who are investing capital, creating jobs and really making a difference,” said Alliance & Chamber CEO Steve Dust.

Nominations are being accepted through January 18^th for the following awards:

Business of the Year Award
Harold Brock Innovation Award
Treating Capital Well Award
Fulfilling the Vision of One Award
Cedar Valley Partner Award

Descriptions of the awards and nomination forms are available at the Alliance & Chamber offices or online at

www. cedarvalleyalliance.com/programsandevents . For additional information, please contact Bette Wubbena at bwubbena@cedarvalleyalliance.com or 232-1156.

The Greater Cedar Valley Alliance & Chamber works to increase wealth and economic vitality through collaborative economic and community development throughout The Cedar Valley economic area.

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Branstad to Visit Cedar Valley to Promote Local SkilledIowa Campaign

The Greater Cedar Valley Alliance & Chamber is hosting Governor Terry Branstad and Teresa Wahlert, Director of Iowa Workforce Development to promote the local SkilledIowa campaign aimed at creating a robust talent pool for the 21^st century workforce.

Cedar Valley of Iowa (Nov. 8, 2012) All Cedar Valley businesses are encouraged to attend a SkilledIowa presentation featuring Governor Terry Branstad and Teresa Wahlert, Director of Iowa Workforce Development. They are in the Cedar Valley in support of the Greater Cedar Valley Alliance & Chamber and Hawkeye Community College’s partnership to develop a SkilledIowa Communities program and promoting involvement of local employers. The presentation will include information on how Cedar Valley business and industry can become a Featured Employer, the positive impact of the National Career Readiness Certificate (NCRC) testing system and how to gain access to job profiling advice from workforce professionals.

The GCVAC is promoting the SkilledIowa program as a tool for our employers to attract and retain quality talent. Representatives from the GCVAC and Hawkeye Community College’s IowaWORKS division will be available to answer questions.

“The supply of high quality talent is a key component to economic growth,” states Steve Dust, CEO of the Alliance & Chamber, “Our role is to encourage and facilitate the participation of Cedar Valley companies and institutions so they can fill their positions with skilled job seekers.”

The event is free, but seating is limited. The program will begin at 3pm in the auditorium inside Barrett Forum Auditorium on the Allen College Campus (1990 Heath Street, 50703.

Grow Cedar Valley