GROWING GREATER FORT DODGE
The Greater Fort Dodge area continued to grow and flourish with constant economic growth and progress in 2013 from an influx of new restaurants, hotels and retail. Planning has also continued in the community development areas concerning a new recreation center, crosstown connector and other image related programs. IowaÂ’s Crossroads of Global Innovation is close to becoming one of only four certified sites in Iowa. Community collaboration continues to improve, as the unemployment rate dropped from 6.7% to 5.4% in just a years time. With continued growth in our primary sector, the future of Webster County and the Greater Fort Dodge Area is looking very bright. However, economic stability and growth of any area depends on the success of its existing employers. This report comprises the second year of this report. The report is a product of our retention program in which the Greater Fort Dodge Growth Alliance, City of Fort Dodge and MidAmerican Energy have partnered to develop. The report helps to assess the needs of and barriers to existing business. Those needs and barriers can then be addressed to ensure business viability and growth. It allows for the monitoring of any changes in market place dynamics so that policy makers and community leaders can make decisions that can decrease threats or enhance opportunities and increase economic growth. Finally, I want to thank the companies who took their time to meet with us to participate in Growing Greater Fort Dodge. I also want to thank our partners: The City of Fort Dodge and MidAmerican Energy and hope to have continued success in the years to come. Sincerely,
Dennis A. Plautz CEO Greater Fort Dodge Growth Alliance
You had me @ hello .
The 2013 Growing Greater Fort Dodge annual report marks our second annual report. The Greater Fort Dodge Growth Alliance again partnered with the City of Fort Dodge and MidAmerican Energy Company to get a first hand feel of the pulse of the community. The program includes face-to-face interviews with top leaders of the existing business of Greater Fort Dodge to gather feedback on doing business in the Region. The interview includes 38 detailed questions designed to draw-out business as well as community issues that can impact growth and/or business stability. Sections in the interview include: Product/Service, Market, Industry, Management, Workforce, Technology, Utility Service, Quality of Life/Community Services and vary from open ended to ranking. This feedback helps the Greater Fort Dodge Growth Alliance, the City of Fort Dodge, Webster County and educational institutions to connect business with the resources they need to stay here and grow here.
ULTIMATE GOALS · · · · ·
Removing local and statewide obstacles that prevent existing firms from remaining or increasing their operations Reduce the cost of doing business Improve business competitiveness Increase access to markets for business Enhance business infrastructure
NOT JUST IN OUR BACKYARD The same 38 questions were asked throughout the nation by economic development organizations
1000 Executive Interviews
142 Economic Development Organizations
38 Detailed Questions
49 Counties
TS CKG C A AL BA F E IC
H TT
S JU
DATA COLLECTION The data was collected by interviewing 22 members of Greater Fort DodgeÂ’s industry leaders.
D UN O R
T
TIS STA
Y NT U O RC E T Population BS WE 37,273 Median House Hold income
$42,444 Labor Force
18,110 High school Diploma
INDUSTRIES INTERVIEWED
88% Bachelors Degree or higher
59.1%
18.7%
13.6%
Unemployment Rate
2012 6.7% 2013 5.4%
9.1% 4.6% Advanced Manufacturing Transportation
Industrial Goods
Communications
Retail Related Operations
Government
Agriculture, Forestry, Minerals
* Sources: STATS Indiana, IowaWorkforce.org, Bureau of Labor Statistics
Nation
GROWTH A company s survival in today s economy depends on keeping pace with the market through innovation and introduction of new products.
Iowa
Midwest *
Greater Fort Dodge
INTRODUCTION OF PRODUCTS WITHIN THE PAST 5 YEARS
78%
84% 84%
86%
OF THE COMPANIES INTERVIEWED...
71%
NEW PRODUCT/SERVICE ANTICIPATION IN THE NEXT 2 YEARS
have increased sales
67%
76% 74%
76%
76%
of the respondents state that there is no reason NOT to expand within Greater Fort Dodge
PLANS TO EXPAND IN THE NEXT 3 YEARS
57%
53%
57%
71%
*MIDWEST: Data collected from the following states: Illinois, Indiana, Iowa, Kansas, Michigan, Missouri, Ohio, Wisconsin.
WORKFORCE Having an available and productive workforce is key to supporting a successful, growing business climate. Notwithstanding, there are 409 more people working in the Greater Fort Dodge Area in December 2013 that were not the previous year, 73% of business leaders still rank the workforce availability either good or excellent, with 86% ranking workforce quality as good or excellent.
WORKFORCE AVAILABILITY
FAIR 27 %
GOOD 55%
EXCELLENT 18%
WORKFORCE QUALITY
FAIR 14%
GOOD 63%
EXCELLENT 23%
REC
RUIT C E R D N TAIN A E R , N I A RET RUIT AND Clearly the Region needs to retain and recruit a qualified workforce to keep up with the demand of our existing and future industries. While putting over 400 people within the Region to work who previously didn t have jobs, we still need skilled workers to continue to fill jobs that have already been created. Here are a few initiatives that the Growth Alliance is working on to retain and recruit skilled workers: ·
Attended FOUR career fairs at State Universities as well as Iowa Central Community College. By participating we were able to collect hundreds of resumes from soon to graduate and intern candidates.
·
Created the Internship+ program that will add value to industries that are offering internships within their organizations.
·
Organized a Workforce Summit which business leaders, educators, economic developers, and etc. attended from around the Region. Several initiatives, challenges and solutions were delivered at the Summit.
FUNDAMENTALS Rarely does one get up in the morning thinking about the fundamental services provided by the government or a community. These services are still critical to the day-to-day operations of a business.
FAIR, GOOD & EXCELLENT QUALITY OF LIFE K-12 Education
Community College
Healthcare Services
Sewer
Natural Gas
UTILITIES Water
Electric
Telecom
Internet Access
Airline Passenger Service
Property Tax Assessment
Zoning/ Building Permits
MUNICIPAL SERVICES
Police
Fire/ Emergency Services
Streets and Roads
County Services
Economic Development
T
! S K HAN
24 N. 9th Street, Suite A | Fort Dodge, IA 50501 | T: 515.955.5500 www.greaterfortdodge.com
PUBLISHED MARCH 2014