Tag Archives: cedar valley

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.

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Cedar Valley Business Education Partnerships Focus of ABI Connecting Statewide Leaders Event

Emily Schettler, Communications Coordinator, Iowa Association of Business and Industry

Business and education leaders from around the state will gather at Wartburg College on December 10th, to discuss the importance and value of partnerships between Iowa’s business community and educational institutions.

The forum is part of the Iowa Association of Business and Industry’s (ABI) Connecting Statewide Leaders discussion, which brings together experts from across Iowa to discuss important issues and present ideas.

Learn about two existing business education partnerships, Elevate Advanced Manufacturing and Leader Valley, as well as STEM initiatives taking place around the state.

Elevate Advanced Manufacturing is an ABI initiative focused on teaching students, parents and educators about the valuable career opportunities available in advanced manufacturing in Iowa. Leader Valley, a program of the Greater Cedar Valley Alliance and Chamber, prepares students for life by providing them important life skills.

Panelists for Thursday’s forum include Michele Farrell, Elevate Iowa program manager; Teri Trask, Orange Elementary Principal and a member Leader Valley’s Leader in Me task force; Tom Penaluna of CBE Companies and Leader Valley; and Adriana Johnson, who works on STEM initiatives for Rockwell Collins. Steve Dust, president and CEO of the Greater Cedar Valley Alliance & Chamber will moderate the event.

The forum will take place at 11 a.m. in the McCaskey Lyceum at the Saemann Student Center on Wartburg’s campus. It will be followed by a networking lunch in the Hagemann Castle Room at the Saemann Student Center. Both events are open to the public. Those who are interested in attending can register here.

Mark your calendar for our upcoming Connecting Statewide Leaders forums:
March 3: Discussion on business and industry in Dubuque
April 7: Discussion on public safety in Council Bluffs

Asia Trade Delegation tour & briefing in the Cedar Valley

Alliance & Chamber Host Asia Export Experts

The Greater Cedar Valley Alliance & Chamber will host members of the Iowa Economic Development Authority International Trade Offices (IEDA) for a familiarization tour on December 8, 2015.

The purpose of the IEDA Foreign Trade Team tour is to become acquainted with actively exporting manufacturers in the Cedar Valley Region. IEDA International Foreign Offices including China, Japan, Germany, Mexico, and Taiwan, assist Iowa companies with global market research, trade missions and trade shows. The tours of the Cedar Valley will focus on IEDA’s efforts to enhance export competitiveness in the Asia-Pacific markets, and to create more jobs in Iowa.

“More than 95 percent of the world’s consumers live outside of the U.S., accounting for 70 percent of the world’s purchasing power,” said Debi Durham, director of the IEDA. “Exporting is important to Iowa’s economy because it results in new jobs right here in our state.”

The day will include a tour of the TechWorks Campus with a demonstration of the 3D sandcast printer located in University of Northern Iowa Metal Casting Center Additive Manufacturing Lab, and tours of United Equipment Accessories and CPM Roskamp.

United Equipment Accessories, located in Waverly, custom engineers and designs slip rings, hydraulic swivels, cable reels and shift controls for electronics applications. CPM Roskamp, located in Waterloo, is a designer and manufacturer of pelleting and particle size reduction equipment and automation systems for the animal feed milling and oilseed processing, pet food, ethanol and super absorbent polymer industries. Both companies export products.

The Alliance & Chamber will host an Asia Executive Briefing & Market Overview at the Isle Casino Hotel Waterloo from 3:00 – 4:30 pm. Companies already exporting to Asia are encouraged to attend for the latest market briefing. “IEDA’s international experts will provide the latest information on growing market opportunities in China, Japan and Taiwan,” said Steve Dust, CEO of the Alliance & Chamber. “Companies interested in export opportunities to Asia markets are welcome to attend to learn about current market conditions and establish network relationships with IEDA’s International Foreign Offices,” Dust added.

“Cedar Valley exports totaled $362 million in 2014 including machinery, processed foods, agriculture commodities, fabricated metal products and more with opportunity for growth,’’ explains Dust. “We provide these opportunities to educate and connect our businesses to international markets because exports are important to the growth and diversity of the Cedar Valley economy.”

The Alliance & Chamber will announce details of its second Global Familiarization Tour to China scheduled for October 2016.

Following the briefing, the Alliance & Chamber will hold its annual Legislative Reception & Networking event. The IEDA International Trade Office representatives and Cedar Valley Legislative Delegation will be present for casual meetings and conversation.

For more information about the IEDA International Trade Office familiarization tour of the Cedar Valley, contact Lisa Skubal, Vice President of Economic Development, Alliance & Chamber, lskubal@cedarvalleyalliance.com. Register for the Asia Executive Briefing & Market Overview through the Alliance & Chamber web-site’s event calendar at www.cedarvalleyalliance.com.
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TechWorks Campus Propels High-Speed Business Development with Startup Weekend Event

(Cedar Valley of Iowa) – TechWorks Campus, 360 Westfield Ave., Waterloo, will host Startup Weekend Cedar Valley November 20 -22, 2015. Startup Weekend is a 54-hour weekend event, during which groups of software developers, business managers, startup enthusiasts, marketing gurus, graphic artists and more pitch ideas for new startup companies, form teams around those ideas, and work to create a working prototype, demo, or presentation by Sunday evening.

Launch Party Kick-Off

The event will kick-off with the Startup Weekend Launch Party, Friday evening at 5:00pm. The Launch Party is an opportunity for the participants of Startup Weekend to network with each other and established Cedar Valley business leaders. The Greater Cedar Valley Alliance & Chamber and Far Reach are launch party sponsors. Alliance & Chamber investors and the Cedar Valley business community are invited to attend.

There is no cost for the launch event, but registration is needed. Register by calling the Alliance & Chamber at 319-232-1156 or on-line at www.cedarvalleyalliance.com/calendar-of-events.php.

Following the launch event, entrepreneurs will give a one-minute pitch of their business idea. Attendees will vote to decide which ideas will be developed over the next two days.

Beginning at 7:00am Saturday, teams will form around each idea. Teams will go through the customer discovery process, prototyping and testing their business model. Local mentors will come in throughout the event to coach teams and provide expertise. Meals will be provided throughout the work day and end with an after party at 10:30pm. Teams will return on Sunday morning to finalize plans and prepare presentations. That evening, a panel of judges will award prizes to the most viable business.

Local Organizers

Startup Weekend Cedar Valley is being organized by a core group of young Cedar Valley entrepreneurs: Cody Caraway, Michael Caraway, Patrick Luensmann, Keevin O’Rourke, Valyn Reinig, and Bart Schmitz. Organizers believe the event has the opportunity to bring individuals who normally wouldn’t consider themselves entrepreneurs into the growing Cedar Valley startup ecosystem. Gold Sponsors for the event include the Greater Cedar Valley Alliance & Chamber, Scientific Games Interactive, and Cedar Falls Utilities. Veridian Credit Union and VGM Forbin are Silver Sponsors. The Center for Business, Growth, and Innovation and the Creative Life Research Center of the University of Northern Iowa, Visual Logic, and Martin Brothers are Bronze Sponsors.

“The average attendee will be exposed to what it’s like to be in a startup, the demands it brings, and also the correct way to create a business model,” says Michael Caraway, “This all translates into a more innovative, lean mindset that individuals can take back to their employers. Who knows, some may even take the leap to start their own business.”

Startup Weekend Cedar Valley Powered by Mediacom

Gigabit+ Fiber Solutions from Mediacom Business will provide 5 gigabit broadband to the TechWorks Campus for Startup Weekend Cedar Valley expanding the scope of potential business concepts and allowing teams to develop high bandwidth applications without limitation.

Why the TechWorks Campus

“The Techworks Campus is the historic location for industrial innovation in the Cedar Valley and a hub for Iowa’s latest production and design technologies,” says Steve Dust CEO of the Greater Cedar Valley Alliance & Chamber and President of the TechWorks Campus. “TechWork’s Industrial Technology Center is the perfect place for entrepreneurs to launch the next great Cedar Valley success stories.”

This is the second year for Startup Weekend in the Cedar Valley. To learn more about Startup Weekend Cedar Valley, or to register, go to www.swcv.co or message Michael Caraway by email, mike@monday-creations.com.

Startup Weekend Cedar Valley

GREATER CEDAR VALLEY ALLIANCE & CHAMBER NOW ACCCEPTING NOMINATIONS FOR ANNUAL AWARDS

The Greater Cedar Valley Alliance & Chamber announces nominations will be accepted now through January 8, 2016 for business awards to be presented during the 2016 Annual Celebration on Thursday, March 31^st at the Park Place Event Centre.

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 an Alliance & Chamber 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 Alliance & Chamber investors for recognition of their contributions.

“The strength of the Cedar Valley is a result of visionary, innovative leadership – individuals, businesses and organizations who are investing capital, creating jobs and making things happen in the workplace and the community. It’s important to tell their stories and recognize them for their contributions,” says Alliance & Chamber CEO Steve Dust.

Nominations are being accepted through January 8th for the following awards:

Business of the Year Award -(Small companies 1-50 FTE’s,
Large companies 51+ FTE’s)
Harold Brock Innovation Award
John Deere Treating Capital Well Award
Fulfilling the Vision of One Award
Cedar Valley Partner Award

*Full-time Employees (FTE)

Winners from the 2015 event include:

Business of the Year (Small companies 1-50 FTE’s) – Far Reach Technologies
Business of the Year (Large companies 51 + FTE’s) – United Equipment Accessories, Inc.
Harold Brock Innovation Award: OMJC Signal
John Deere Treating Capital Well Award: Farmers State Bank
Fulfilling the Vision of One Award – Tom Penaluna
Cedar Valley Partner Award: Boy & Girls Club and Hawkeye Community College
Legacy Award – Ed Gallagher
Inclusion Awards (Small companies 1-50 FTE’s) – Cadillac Lane
Inclusion Awards (Large companies 51 + FTE’s) – Hawkeye Community College

Nominations for Inclusions Awards has passed.

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 319-232-1156.

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Why Co-Working Space is Critical in Fostering a Start-up Culture

Recently, Nate Clayberg of the Alliance & Chamber and entrepreneur Trace Stephan of the HowFactory spoke with Gary Edwards on KXEL’s Morning Show about the value of co-working spaces. Much of what they discussed is outlined here.

Over the last year, there has been increased activity in the Cedar Valley to build a stronger base for entrepreneurs to build their businesses in the region. This “entrepreneurial ecosystem” provides resources to people with business start-up ideas to help move from an idea into a scalable business. A part of many successful “ecosystems” is “co-working space.”

A business facility known as a Co-working space describes an existing space where independent workers work alongside each other in an open environment. The space is also open to independent contractors and work-at-home professionals that shared similar values and interests. This environment fosters a synergy among the informal colleagues that help each personally in their professional work through pursuing separate business start-ups.

The Cedar Valley has a rich history of visionary entrepreneurs. Today, members of the entrepreneurship community are looking for a central gathering point to exchange ideas, work through solutions and scale their businesses. A “ground zero” for entrepreneurship has not yet existed in this area. While similar settings do exist on the UNI campus, in coffee shops in Waterloo, Cedar Falls and other regional communities, a true Cedar Valley co-working space does not. The co-working spaces in place in competitive Iowa markets are drawing attention from these ambitious start-ups.

Co-working space should not be confused with incubators, accelerators or private shared office suite operations, offer in many cities. The co-working environment is not about the real estate, rather it is about forming a community and work culture that nurtures successful entrepreneurship.

So, who are the entrepreneurs in the Cedar Valley that would use this space? What do they do? Who do they work for? Why are they in the Cedar Valley? It is easy to identify some of them, but not all.

Based on Brad Feld’s book Startup Communities, there are “leaders” and “feeders” in the entrepreneurial ecosystem. The “feeders” are groups like the Greater Cedar Valley Alliance & Chamber, Community Main Street organizations, universities, local and state government, banks and investors that support business growth. The “leaders” are people and companies that have a direct interest in supporting this type of activity because it impacts the success of their own business endeavor.

When the entrepreneurship community takes the lead there is a greater chance for the space and its users to flourish. The role of the “feeder” is to help guide new businesses down the right path and to support the co-working concept.

Today the Cedar Valley “feeders” are actively working with the “leaders” to identify the market for a Cedar Valley co-working space in Cedar Valley. The next step is to hold Jellies – a form of “pop-up” or “flash” co-working space-filling events. The first Jelly took place on July 31st at the office of a start-up business in Waterloo. The next Jelly will intentionally build a following that leads to the creation of a permanent co-working space in the Cedar Valley.

Alliance & Chamber CEO Dust to Speak at Dislocated Worker Transition Center Opening

WATERLOO–A new center to assist displaced John Deere workers will open Tuesday, August 18, with a grand opening ceremony at 10:00 a.m. on the Hawkeye Community College Main Campus.

WHAT: Dislocated Worker Transition Center Grand Opening

WHEN: Tuesday, August 18, 2015, 10:00 a.m.

WHERE: Advanced Technology and Business Center, Buchanan Hall

Hawkeye Community College, 1501 East Orange Rd, Waterloo

Iowa Workforce Development received a National Dislocated Worker Grant for $3,058,322 from the U.S. Department of Labor to help displaced workers with job training and employment. More than 1,300 John Deere workers from Waterloo and Ankeny have been laid off since fall 2014, including more than 1,000 from Waterloo. The $3,058,322 grant will assist up to 650 workers with career services. The Dislocated Worker Transition Center will house staff representing IowaWORKS Cedar Valley, Iowa Workforce Development, and UAW Local 838, who can assist dislocated workers with career coaching and pursuing job retraining.

Speakers at the grand opening will include Dr. Linda Allen, president of Hawkeye Community College; Beth Townsend, director of Iowa Workforce Development, Mike Oberhauser, vice president of UAW Local 838, Steve Dust, president and CEO of the Greater Cedar Valley Alliance & Chamber; and other representatives

Alliance & Chamber Launches New Website to Showcase TechWorks Campus

The Greater Cedar Valley Alliance & Chamber is pleased to announce the launch of a new website, techworkscampus.com. This new resource was developed to provide greater visibility and information about the TechWorks Campus, its properties, projects and partners. It is also a source for latest news and developments taking place on the Campus.

The site is a tool for businesses looking for a location where the latest tools, concepts and applications in manufacturing are being used and developed.

Visitors will also find information about the Iowa Advanced Manufacturing Network Hub (IAMNH) at TechWorks Campus, University of Northern Iowa Metal Casting Additive Manufacturing (3D printing) program, a virtual reality design center, Cedar Valley Maker’s club, and other emerging projects, and new tenants.

Construction progress for The Green @ TechWorks including the hotel, conference space, John Deere Training Center, and restaurant will be provided on the site as will updates for the proposed marina.

The website launch highlights a new logo for the TechWorks Campus, developed to reflect the advanced manufacturing focus of the Campus and its place in manufacturing history.

“The logo is based on a carbide, a highly specialized, precision tool used in manufacturing,” says TechWorks Facilities Manager Wes James who credits TechWorks Board Chair Tim Hurley with the concept. “Because each carbide has a unique geometry based on its application, it serves as a distinctive symbol of our mission to drive innovation and excellence in advanced manufacturing.”

Iowa Advanced Manufacturing Network Hub at TechWorks of First Projects to Receive Iowa’s New Strategic Infrastructure Funding – $2.7 Million for additional 3D Printers UNI Metal Casting Center

(Cedar Valley of Iowa) The Iowa Advanced Manufacturing Network Hub (IAMNH), at the TechWorks Campus in Waterloo, is one of the first projects in the state to be awarded funds through Iowa’s new Strategic Infrastructure Fund (SIF). The funding was approved by the Iowa Economic Development Authority (IEDA) Board at their June meeting. The project, Iowa Advanced Manufacturing Network Hub – Phase I, Additive Manufacturing Center, will receive $2.7 million to fund additional 3D printers for the UNI Metal Casting Center, building improvements, and a design center to be operated by Hawkeye Community College.

“With this financial support from the IEDA and Iowa Innovation Council, UNI is excited and anxious to move forward with creating a full-service additive manufacturing center to meet the innovation and technology needs of Iowa companies,” says Randy Pilkington, Executive Director of UNI’s Business and Community Services. “Thanks to support from IEDA, UNI is building on the momentum of the past 18 months of 3D printing success to create a full-service additive manufacturing center for Iowa manufacturers. Expansion into plastics, metals and ceramics will create one of the best equipped 3D printing facilities in North America.”

The Iowa Advanced Manufacturing Network Hub application for Strategic Infrastructure Fund (SIF) was completed by TechWorks staff and a team including UNI’s Randy Pilkington and Metal Casting Center Director Jerry Thiel; Hawkeye Community College President Linda Allen, and Vice President of Academic Affairs Jane Bradley; and TechWorks board chair Tim Hurley. The team worked with the State of Iowa and the Iowa Innovation Council’s Advanced Manufacturing Workgroup to finalize the application.

The IEDA funding will help to move Iowa to the forefront of technology in additive manufacturing and establish a premier center for support of its manufacturing base. This funding is a critical step in advancing the state’s technology base and providing a central location for technology advancement.