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Developing a culture for success

The 2010 Annual Report of the Iowa City Area Development Group


When I first moved to Iowa City,

“Welcome! Iowa City is a few square miles

Now in its 26th year, ICAD Group serves the communities of Iowa City, Coralville, North Liberty, Kalona, Solon, Tiffin, Tipton, the Amana Colonies, West Branch, West Liberty and Johnson County.


a local surgeon greeted and welcomed me by saying,

of paradise surrounded by reality.” I know now that this is an accurate description of our entire area. Our diverse business climate, first-rate workforce, and exceptional education system all help create a culture where companies innovate and businesses succeed. Even as the rest of this country struggles with continuous challenges from the recession, the ICAD Group service territory posts positive numbers and shows steady growth. Through our existing industry, workforce services and business recruitment efforts, new job creation outpaced last year. Clients in our service territory saw 6% growth in employment and project 1,100 new, full time positions in the next three years. This year, Johnson County was among only 25 counties nationwide on CNN/Money Magazine’s “Where the Jobs Are 2010” list. Our area also received recognition by Forbes Magazine as one of the “Best Places for Business and Careers” in America. Working with multiple regional and state partners, we helped Whirlpool Corporation retain more than 1,600 jobs at their Amana facility and bring in a new product line from Indiana. As a result of this announcement, ICAD Group has started working with Whirlpool and their suppliers on workforce and other operational matters. While our region hasn’t been immune to financial privation and the protracted affects from the 2008 floods, we are seeing companies focusing on the future. ICAD Group has received new applications for our Shovel Ready Certification Program, the first program of its kind in the state, and we anticipate three pilot sites will receive certification this year. Additionally, 91% of area companies plan to introduce new products or services in the next two years. ICAD Group and its Board of Directors also took important steps to adopt a new twentyyear vision for economic development in our region. We continue to work regionally to create and share programs driven by research and innovation that transform knowledge into economic opportunity and we endeavor to develop this culture for success inherent to our area. The phrase “Extraordinary Opportunities in Unexpected Places” is printed on every project proposal, news release, investor statement and piece of mail sent by ICAD Group. It’s seen by anyone who visits our website or receives a business card. Looking forward, the meaning in each of these words is greater than ever before. On behalf of the Iowa City Area Development Group, thank you for supporting our organization. It has been a pleasure to serve as Board Chair these past two years and I am energized by the vision we’ve created for the next twenty years. ICAD Group is fortunate to represent such a unique community.

Ronald R. Reed, 2009 – 2010 Chair Iowa City Area Development Group The 2010 Annual Report of the Iowa City Area Development Group | 1


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Developing a Culture for Success:

Regional Vision Starting in the Fall of 2009, the Iowa City Area Development Group staff and board met several times to discuss the roll of the organization in enhancing the greater Iowa City area over the next twenty years. Specifically, the challenge was to create a twenty-year vision for our region and identify the areas in economic development ICAD Group could control, impact and influence. Throughout this process, ICAD Group approached its twenty-year vision through multiple perspectives. It looked internally and externally, considering its investors, clients, staff and board. The group analyzed economic factors in and outside of the Cedar Rapids/Iowa City Corridor, considering trends and current conditions in seventeen key indicators, such as manufacturing, healthcare, workforce, education, transportation, government and access to capital. The ideas and themes which emerged provided an aggressive and pioneering course of action guiding ICAD Group into its third decade. An innovative model of regional development was adopted and on June 7, 2010, the ICAD Group Board of Directors approved the new mission and vision of the organization as well as a twenty year vision of our economic region.

Mission To enhance the quality of our communities by serving the business development needs of interstate commerce companies.

Vision We will create, collaborate and lead regional economic development initiatives that contribute to the creation and growth of companies, wealth and quality jobs through a spirit of innovation and a culture of sharing that transforms knowledge into economic opportunity.

Twenty Year Vision of Our Economic Region The Corridor of 2030 includes a highly skilled, educated and inquisitive workforce living in a collection of communities inherently unique, but powerfully bonded together and strategically aligned under a regional brand that is recognized as a center of commerce and innovation nestled in an area providing an unmatched quality of life.

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Developing a Culture for Success:

Entrepreneuri Developmen Much of our work in entrepreneurial development is spent creating connections and hosting informational events for emerging companies. The Iowa City Area Development Group worked with eight regional entrepreneurs during FY2010. Fostering Growth: ICAD Group connects emerging companies and interested investors to many of the existing entrepreneurial services currently available in our region and in the state. This past year, we partnered with both the Iowa City and Cedar Rapids Chambers of Commerce to hold a full day symposium on International Business. Additionally, we hosted an Investor Council breakfast featuring the IOWA Centers for Enterprise as well as a luncheon event to discuss Midwest Disaster Area Bond Financing and New Market Tax Credits. We continue to develop programming and events for entrepreneurs in our region with the Entrepreneurial Development Center in Cedar Rapids and multiple departments at the University of Iowa. Additionally, we provide linkages to working capital and funding, such as the Power Fund and Demonstration Fund through the Iowa Department of Economic Development.

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The Need for a Knowledge Ecosystem: While each of these services provides some benefit to our area entrepreneurs, a common thread has emerged alerting us to changes needed in our approach to entrepreneurial development. Despite the high number of innovative ideas created in our area, we have not realized the full potential of our talent and the opportunities it might create in a more open environment. Our goal is for the Iowa City area to be recognized globally for creating and growing innovative companies engaged in interstate commerce; a smaller version of known quantities such as Silicon Valley, the Research Triangle and metros like Austin, Texas and Boulder, Colorado. In order to achieve this, ICAD Group is taking steps towards changing the culture of the area to include more non-traditional collaboration and entrepreneurial action. There is a definite need to catalyze connections between ideas, people and companies.


ial nt We are researching the cost and benefit of creating a network of physical spaces, overlaid with utilization of social networking platforms, which foster the interactions necessary for a knowledge ecosystem to take hold. At its full potential, this space becomes the epicenter of innovation where people, creative ideas and capital converge to create long term investment, employment and related benefits to the region. Creating the space alone is not sufficient. ICAD Group’s challenge moving forward will be to further our relationships with local and state services as well as maintain a constant stream of high level programming and activity that keeps entrepreneurs engaged and creates an intellectual infrastructure in our area.

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Developing a Culture for Success:

Existing Industry and Business Recruitm Our work in business recruitment and existing industry includes meeting with decision makers, listening to companies about the needs of tomorrow, and engaging local and state government officials. Focusing on the fundamentals leads to new business development, existing industry expansion, and targeted business recruitment. Project Activity: This past year, ICAD Group assisted forty-six companies within our targeted industrial sectors, including wind energy, biotech, education, IT, gaming and general manufacturing, to provide data and assistance for their development projects. At the close of the fiscal year, more than a dozen firms committed to creating/ retaining more than 1,800 jobs with a capital investment approaching $150 million were actively researching our market. Communication with these companies and consultants is ongoing as they review the costs and benefits of establishing operations in our area.

Site Location Consultants: Many companies hire site location consultants to help narrow their choices for location decisions. This past year, ICAD Group staff participated in six national events, meeting one-on-one with forty-two national site location consultants. Additionally, we presented to the Wind Supply Chain Conference in Chicago and the Professional Developers of Iowa Conference in Des Moines. These face-to-face meetings provide opportunities to promote our Shovel Ready Certification Program, the Wind Energy Supply Chain Campus, and the growth of our workforce and diverse industry sectors. This year we also worked with Priority One to update the TechCorridor.com website. A new, interactive mapping system was created to make finding property, buildings, industry clusters and major employers easier than ever before.

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Shovel Ready Sites: ICAD Group completed the creation of its Shovel Ready Certification Program in FY2010 and three properties in Coralville, Iowa City and Tipton are anticipated to receive certification before the end of the year. Working with Austin Consulting of Cleveland, Ohio, and Foote Consulting Group of Phoenix, Arizona, we created the state’s first regional certification program based on a best practices analysis of similar programs nationwide. The scope and detail is unlike any program in the United States.


ment Existing Industry: Our annual existing industry survey includes the perspectives and data collected from interviews with local executives in our service territory. Using the Blane, Canada Synchronist® Business Information System, we examine the growth, risk, value, and satisfaction of each company. Sixty-five surveys were completed this year, our highest level of participation. Additionally, we received workforce data from an additional seven companies.

Our clients witnessed 6% growth in employment, adding 760 jobs, to bring our total client employment to 13,425

Forecasts project approximately 1,100 new, full-time positions for this area in the next three years

91% of companies plan to introduce new products or services in the next two years

Clients continue to be very satisfied with ICAD Group, scoring us at 6.3 on a 7 point scale

Based on the results of these interviews, we focus our programming and customize our services for the coming year. Additionally, we share community specific data with elected officials in our service territory. Most importantly, collecting this data annually is part of a larger development strategy. We are able to see trends developing in our area and can compare data with markets across the United States. Another valuable activity when working with existing industry is corporate headquarter visits, both domestic and abroad. These visits are vital to gain a better understanding about local operations and future plans. Since many of our employers draw from a regional workforce, we work in tandem with Priority One of Cedar Rapids to meet with executives. ICAD Group staff conducted nineteen visits this year; regionally, more than forty headquarters were visited in FY2010.

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Developing a Culture for Success:

Workforce The Iowa City Area Development Group addresses workforce challenges with strategic programs and partnerships to help our area remain globally competitive and economically viable. We provide workforce development services to our investors, clients and the Technology Corridor region in five key areas: Guidance, Retention, Education, Attraction and Training. Alumni Outreach: ICAD Group partnered with the University of Iowa Alumni Association on multiple projects this past year. This partnership is part of a larger strategy to attract and retain productive employees utilizing an existing connection to the University of Iowa. One of most successful projects was a series of six after-work networking events split between locations in Cedar Rapids and Iowa City. Each evening was designed to connect Iowa alumni with one another and growing industry clusters in the Technology Corridor, including renewable energy, biotechnology and computer simulation. Additionally, emerging workforce issues, including social media and community engagement, were featured during two of the “Hawkeye Happy Hours.”

ICAD Group also sponsored multiple UI Homecoming events last fall to connect with alumni returning to Iowa City. One unique opportunity allowed us to host a lunch for visiting Iowa Club ambassadors from across the country and provide them resources and information to help their members seeking to return to the Corridor.

Working with Priority One of Cedar Rapids and the Cedar Rapids Gazette, more than 30 riders from the Corridor area wore custom bike jerseys during last year’s ride. Additionally, promotional sponsorships were arranged with Ottumwa and the Iowa Department of Economic Development to provide promotional handouts.

Additionally, we participated as invited guests at “Hungry Hawkeyes” and spoke with students in the Students Today, Alumni Tomorrow (STAT) program. Two representatives from ICAD Group were able to talk to dozens of students one-on-one regarding career opportunities in the Corridor.

ICAD Group was able to similarly showcase our region in 2008 when RAGBRAI visited North Liberty and Tipton. These sponsorships helped with talent attraction by talking face-to-face with visiting riders about the extraordinary opportunities available for work and life in the Corridor.

In partnership with the UI Pomerantz Career Center in Chicago, our group sponsored a daytrip to Chicago to network with Iowa alumni and Chicagoans with Iowa ties to promote the Cedar Rapids/Iowa City Corridor and positions in our area. Representatives from UIHC Talent Acquisition, Integrated DNA Technologies, ACT, ADP, Vangent, Priority One and ICAD Group were able to speak to 25 alumni who were specifically interested in returning to the Corridor and made recommendations on targeted companies to look at for appropriate opportunities.

Value of Veterans: ICAD Group hosted a second event on Veterans Day 2009 for employers, HR professionals, and members of local and state veteran resource groups to discuss the benefits of recruiting military service members entering the civilian workforce.

RAGBRAI: ICAD Group encouraged RAGBRAI riders to “Get Their Careers in Gear” while promoting job opportunities and quality of life in the Corridor during an overnight stop in Ottumwa last July. 8 | The 2010 Annual Report of the Iowa City Area Development Group

Over 220,000 service members complete their military obligation every single year. Almost all of them begin looking for a civilian job as far as a year in advance of their release date. This event helped regional employers use this 12-month lead time to reach out to veterans, educate them on their companies and the types of positions typically offered, and promote this region as a great place to relocate.


Iowa’s National Career Readiness Certificate: The Iowa National Career Readiness Certificate (INCRC), a statewide workforce initiative administered regionally through Iowa Workforce Development,

Kirkwood Community College and ACT, provides proof of job skills for local employers. Based on an individual’s performance in one of three assessments, the Certificate is issued by ACT at one of four levels: Bronze, Silver, Gold or Platinum.

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The Certificate measures skills critical to on-the-job success using three ACT WorkKeys® assessments: Applied Mathematics, Reading for Information, and Locating Information. WorkKeys has helped employers realize decreased turnover and training time for nearly 20 years. ICAD Group continues to work with a consortium of area employers to promote the Certificate and its value in making employment and training decisions. Employers find the INCRC easily identifies the skill level of an applicant and over 140 employers in the region are using the INCRC as part of their hiring process. Training, Guidance and Education: ICAD Group develops workforce initiatives based on the immediate and future needs of our area. We assess worker readiness, skills development, employer challenges, and workforce productivity through a series of surveys and a network of partners. This past year we provided services to multiple employers in the region including Innovative Software Engineering, LeanCor, Roberts Dairy, EdLink, Quality Associates, Compleware, West Music and Acciona. Additionally, we connected our clients and investors to valuable clinics and workshops tackling hot button HR topics including International Business and Diversity, Contractor/Employee Misclassification, Health Care, and changes in OSHA regulations.

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Case Study: Whirlpool One of the region’s largest employers was carefully evaluating operations at is Amana manufacturing facility to make some tough decisions on remaining globally competitive. Significant investments were needed to improve productivity, energy efficiency, and prepare the plant for a new product line. ICAD Group worked regionally with Priority One of Cedar Rapids, the Amana Society, the Iowa Department of Economic Development and Iowa County to structure a package of financial support to assist Whirlpool. Whirlpool’s $20 million dollar investment in Amana creates excellent employment opportunities and benefits numerous local suppliers beyond the borders of the Amana Colonies. The regional impact of this project will be realized for many years to come.

The Opportunity

The Outcome

Whirlpool Corporation leads the $100 billion global home appliance industry. Its appliances are manufactured in 12 countries and marketed in nearly every nation around the world. Originally founded in 1934, the Amana Division is a leading producer of refrigerators with the freezer on the bottom. This division is the only manufacturer of this configuration of refrigerators in the United States. Amana-produced refrigerators are sold throughout the world; with approximately 80% remaining in the U.S.

Whirlpool’s local and corporate leadership publicly announced a $20 million dollar investment in their Amana facility in February of 2010, helping retain more than 1,600 jobs.

Whirlpool officials sought assistance in August of 2009 to make needed upgrades, including improvements in facility infrastructure, equipment and processes. To ensure that the Amana plant remained a vital member of the Amana community, ICAD Group and Priority One began working with the Iowa Department of Economic Development. The scope of the project required regional coordination from multiple players. In September, ICAD Group and Priority One helped arrange letters of support from the state, Iowa County and the Amana Society demonstrating our region’s commitment to Whirlpool.

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Plus, the company announced they were transitioning production of a line of icemakers from Evansville, Indiana, to Amana. Whirlpool saw consolidating the icemaker to the Amana site as an opportunity to further leverage best cost, best quality and best asset utilization production opportunities. The product transition will create 60 new jobs at the Amana plant. ICAD Group is currently helping Whirlpool with employee recruitment, including providing materials to share with candidates from outside of the area. Additionally, we are working with Whirlpool’s local direct suppliers in West Liberty, West Branch and Kalona, monitoring their satisfaction and operations and assisting with workforce or development needs when requested. “This important work has served to further strengthen the partnership between Priority One, the Iowa City Area Development Group, Iowa County, the state of Iowa and Whirlpool Corporation and its Amana plant. We are profoundly grateful to everyone involved in the discussions and outcome that benefits our employees, our business and the community,” said Jeff Noel, vice president, corporate and public affairs, Whirlpool Corporation.


Case Study: Procter and Gamble The greatest source of an area’s potential economic growth is through existing firms. With more than a half century of manufacturing hair care and oral care products in Iowa City, Procter and Gamble is the perfect example. Since 2006, ICAD Group has worked with P&G on at least one development project a year. Warehouses have expanded, new suppliers have come to town, and P&G executives have relocated to communities in our service territory. Some projects have involved P&G directly; others have been with their supply chain partners. Regardless of the project, ICAD Group’s work with P&G has helped generate new jobs, new facilities and an expanded tax base for the Iowa City area.

The Opportunity

The Outcome

Four billion times a day, P&G brands touch the lives of people around the world. The company has one of the strongest portfolios of trusted, quality, leadership brands. The P&G community includes approximately 127,000 employees working in about 80 countries worldwide.

In just the past two years, ICAD Group has facilitated the opening of two P&G suppliers: Alliance Rock Tenn and Quality Associates.

In Iowa City, P&G manufactures many products seen on store shelves across America, including Clairol, Scope, Pantene and Herbal Essence. And, much of the material used in creating and packaging these products comes from the Iowa City area, too. P&G is aware of the strengths of this market, especially workforce availability, reliability and productivity. They are confident that internal operations and supply chain partners can grow in this economy. Whether working with P&G directly or with their suppliers, ICAD Group helps implement business decisions affecting our community, including location decisions, workforce recruitment, risk mitigation and more. “ICAD Group understands their community and workforce and works well to target specific businesses to enhance this area,” said Derek Easton, P&G Site Leader, Iowa City.

Alliance opened in May 2009 and provides promotional and permanent merchandising solutions, including fulfillment and distributions services. The Iowa City location is the newest of their 10 manufacturing and fulfillment centers. “Our partnerships have helped make this opening very easy. We are excited to become part of the Iowa City business community,” said Tim Fialko, Alliance Vice President, Operations. Quality Associates, headquartered in Cincinnati, Ohio, opened a 245,000 square foot packaging facility in the Scott Six Industrial Park in late March 2010. “Quality Associates is excited to expand our business in the Iowa City market, further heightening our relationship with the Procter and Gamble Company,” said Delores Epps, President. “The Cedar Rapids/Iowa City Technology Corridor will greatly enhance this base of quality people and we are pleased to be here.”

This work accounts for more than 900 jobs in our area.

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Case Study: LMS International The first for-profit company to locate in the Oakdale Research Park was looking for a longterm location solution. Formerly a University of Iowa research spinout, the company had been acquired by LMS International in 1999 and had merged into LMS North America in 2006. ICAD Group saw the economic impact of helping LMS International keep its employees and $2 million dollar payroll in the Iowa City area. Working together, ICAD Group connected LMS officials, both domestic and abroad, with local and state governmental leaders to craft a solution, including state assistance and tax increment financing. The result? A win-win-win for the area. LMS North America continues to provide quality, high paying jobs and has helped enhance the reputation of the area as an international partner for automotive, aerospace and advanced manufacturing industries. In addition, ICAD Group continues to work with the University of Iowa and its spinouts, searching for opportunities to grow companies here at home.

The Opportunity

The Outcome

LMS has been a part of the Iowa City area for more than two decades. Dr. Ed Haug, a UI College of Engineering professor, created the company following nearly four years of multi-body dynamics research partially funded by the U.S. Army Tank Automotive Command. Haug’s research created what is now recognized as the best analytical implementation of this innovation.

LMS is a valuable corporate citizen for the Iowa City area. This $2.5 million dollar project helped retain and create jobs that pay 160% above the average wages paid in Johnson County.

LMS acquired Dr. Haug’s company in 1999 and, in March 2006, the company merged into LMS North America. LMS was looking to continue its relationship with the University of Iowa and preferred a location near or within the research park. With the help of ICAD Group, local developers, the City of Coralville, and the Iowa Department of Economic Development, LMS was able to build a modern 10,000 square foot facility to meet current and future needs. “ICAD Group is dedicated to the area and is very proactive in their approach to economic development. They jumped in and helped us secure city and state incentives that lead to a long term commitment to the area,” said Robert Stevenson, Finance Manager and Treasurer, LMS North America.

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The company continues to provide software development, technical support, and engineering consulting for LMS customers worldwide including Boeing, Toyota, John Deere, Harley-Davidson, and General Dynamics. ICAD Group works with LMS yearly, interviewing local executives to gauge the satisfaction and strength of their local operations. Additionally, ICAD Group has traveled to Leuven, Belgium, to visit the corporate office.


Case Study: EdLink When the nation’s largest provider of tuition assistance joined forces with a local non-profit best known for its college entrance exam to form EdLink, they had plenty of choices throughout the U.S. for their customer service location. They selected Coralville, Iowa. ICAD Group guided EdLink’s location team from start to finish through site selection, establishing their local operations and talent acquisition. We even helped organize their holiday open house.

The Opportunity

The Outcome

EdLink, LLC is an independent company jointly created by two national non-profit leaders in education, the Council for Adult and Experiential Learning (CAEL) and ACT, Inc. EdLink provides complete corporate tuition assistance management services — working with employers to gain more business value from tuition programs while minimizing the costs.

ICAD Group helped EdLink navigate the maze of available commercial property throughout our service territory and assisted with negotiations for lease and build out.

ICAD Group was conducting its annual existing industry survey in 2009 when ACT revealed their plans to create EdLink with CAEL. Knowing that their initial location options for EdLink wouldn’t suffice, ACT asked ICAD Group to gather information about locations and operations in the Iowa City area. Specifically, ICAD Group was challenged to find office space providing specific organizational and technical requirements that could expand with operations. In addition, EdLink was going to need a bevy of workforce recruitment assistance including screening, hiring, and training local staff as well as relocation assistance for some of its Chicago workers.

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“Having an office close to ACT, one of our parent companies, was very important to us. ICAD Group helped us find the perfect location for our growing company. We really enjoyed working with all of the great people at ICAD Group and appreciate all of the hard work and services they provide for business in the Iowa City area,” said John Zappa, CEO of EdLink Once EdLink had decided on their Coralville location, they needed temporary hiring and training facilities. ICAD Group arranged rooms in the Iowa City Commerce Center for more than two weeks of interviews and candidate screening. Additionally, we introduced EdLink to Iowa Workforce Development as well as Iowa’s National Career Readiness Certificate to use as part of the hiring process. Many of ICAD Group’s workforce development partners helped EdLink with staffing and training. Kirkwood Community College provided temporary space in their Marion campus to accommodate EdLink’s new employees and also facilitated the state of Iowa’s Industrial New Jobs Training program. EdLink expects to process $200 million in education funds through the next year and serve almost 800,000 employees across the country. Currently EdLink employs 11 at their Coralville facility and are looking to add 20 more positions in the next 3 years.

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Campaign Progress Report The Creating Advantage | Investing for Results campaign is a proactive, progressive approach to ensure our area realizes its full economic potential as a world-class center of business activity, career opportunity and educational learning excellence. Since the beginning of this campaign, ICAD Group has provided significant assistance to 27 location, expansion and retention projects with interstate commerce companies. According to a recent analysis by Chmura Economics and Analytics, our work has helped new and existing interstate commerce companies create/retain more than 4,954 jobs with total earnings of well over $179 million annually. Each dollar invested in ICAD Group has returned $69 in payroll dollars annually since the beginning of this campaign. This net result has had a lasting impact on our area and has contributed to growing the local economy during a period of substantial financial challenges and economic uncertainty.

Additionally, local construction companies have benefited from expansion and facility construction projects. Initial estimates from Chmura Economics and Analytics show that approximately $61 million of a total of $175 million in new capital investment was spent on construction. These projects translated to 722 construction jobs generating $21.5 million in payroll.

Based on the decision of leadership and a pioneering course of action set forth in our new strategic plan, the Iowa City Area Development Group is continuing our Creating Advantage | Investing For Results campaign for one more year. This extension furthers the vision of our organization to create and grow companies, wealth and quality jobs in the Iowa City area, while allowing us to develop a new, innovative model of regional development for the future.

Population Changes 2000 – 2009 The Iowa City Metropolitan Statistical Area (MSA) was second to Des Moines for population change this past decade. Combined, the Cedar Rapids and Iowa City MSAs have realized 10.8% population growth over past nine years. And if combined, our region would be the 136th largest MSA in the country out of 366 MSAs. Metropolitan Area

% Change April 2000 2000 – 2009 Population

July 1, 2009 Population

Des Moines

16.93

481,394

562,906

Iowa City

15.63

131,676

152,263

Ames

9.04

79,981

87,214

Cedar Rapids

8.05

237,270

256,324

Dubuque

4.41

89,142

93,072

Sioux City

0.91

143,053

144,360

Quad Cities

0.81

376,019

379,231

Waterloo/Cedar Falls

0.74

163,706

164,913

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Fiscal Year 2010

Financial Report Developing a Culture for Success: Statistics

Funding for our work comes from public and private investments, grants, in-kind support as well as revenue generated from events.

Revenue for FY2010 was $778,839, down almost $40,000 from the previous year. Some investors requested scaling back or temporarily suspending their investments this year.

Jobs created/retained by ICAD Group clients pay an average wage of $39,776 or $19.12 per hour Current private sector employment represents 64% of all jobs in the metropolitan area, up from 52% in 1990 For the life of our Creating Advantage | Investing For Results campaign, from July 2006 through June 2010, workforce for the metropolitan area (by place of residence) grew 6,900 people, or 7.9%, to 93,700 people State of Iowa Unemployment rate: July 1, 2006, was 3.7% and July 1, 2010, was 6.8%

With some industries putting location projects on hold this past year, ICAD Group dedicated additional resources to entrepreneurial development and existing industry programs. Total expenses for the year were $764,626. Net income of $14,213 will be used for our upcoming investment campaign as well new industry sector research and entrepreneurial programming.

FY2010 Investment in Economic Development Existing Business Retention & Expansion 16% $122,724 Business Recruitment – 22% $169,493 Entrepreneurial Development – 6% $48,769 Workforce Business Services 18% $140,150

Iowa City area Unemployment rate: July 1, 2006, was 2.9% and July 1, 2010, was 4.9% Communications and Partnerships 20% $150,490

Administration – 17% $133,000

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FY2010 Board of Directors FY2010 Community Rankings Iowa City is ranked as one of America’s Top 100 Adventure Cities National Geographic Adventure, October 2009

Iowa City/Coralville/North Liberty named an Iowa Great Place Iowa Department of Cultural Affairs October 2009

No. 22 in the Milken Institute’s Best Performing Cities Index, “Where America’s Jobs Are Created and Sustained,” November 2009

“Top Towns for Jobs,” MSN CareerBuilder, January 2010

“Healthiest Town in the United States,” Men’s Journal, February 2010

Forbes has ranked Iowa City number 2 on its most recent “Best Places for Business and Careers” list (smaller metros) April 2010

No. 10, “Best Cities for College Grads,” Richard Florida (author of the Creative Class), May 2010

Iowa City ranks 2nd out of 75 mid-size cities for volunteer rate “Volunteering in America,” Corporation for National & Community Service, June 2010

Iowa City is among the Top 100 Small Cities on CNN/Money Magazine’s “Best Places to Live 2010,” July 2010

Regenia Bailey Mayor*, City of Iowa City

Dale Helling Interim City Manager, City of Iowa City

Dee Baird Executive Vice President, Kirkwood Community College

Tom Hobson Senior Manager of Government Relations, Rockwell Collins

David Bywater Vice President/COO, Economy Advertising

George Hollins Business Manager**, University of Iowa

Jordan Cohen Interim VP for Research, University of Iowa

Gary Hood General Manager, MidAmerican Energy

Kevin Digmann Project Manager, Hodge Construction Company Jeffrey A. Disterhoft President/CEO, University of Iowa Community Credit Union Scott Fisher ICAD Group Chair-Elect President, McCrossen Consulting LLC Bart Floyd President, US Bank Tom Gelman Partner, Phelan, Tucker, Mullen, Walker, Tucker & Gelman LLP Tom Goedken Vice President, ACT, Inc. Pat Harney Supervisor, Johnson County Board of Supervisors Matt Hayek Mayor*, City of Iowa City Kelly Hayworth City Administrator, City of Coralville Ryan Heiar City Administrator, City of North Liberty

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Brad Langguth Vice President, Hills Bank & Trust Company Hass Machlab President, Innovative Software Engineering Dan Mann Airport Director, The Eastern Iowa Airport Jerry Melick Manager, Liberty Communications Kevin Monson President, Neumann Monson PC Architects Chuck Peters President/CEO, SourceMedia Group

Jim Schreck Technical Services Leader, Procter & Gamble/Oral-B Laboratories Tom Sharpe Associate Vice President for Research**, IOWA Centers for Enterprise Damon Terrill Senior Vice President & General Council, International Legal & Regulatory Affairs Integrated DNA Technologies Madeline Windauer Director of Tax, RSM McGladrey Pamela York Executive Director, University of Iowa Research Foundation *Matt Hayek’s term as Iowa City Mayor began in January 2010. **Tom Sharpe retired from the University of Iowa August 6, 2009. George Hollins was elected to the ICAD Group Board in November 2009.

Nancy Quellhorst President/CEO, Iowa City Area Chamber of Commerce

Iowa City Area Development Group Staff

Ronald R. Reed ICAD Group Chair President/CEO, Mercy Iowa City

Joe Raso President

Dr. Jean Robillard Vice President of Medical Affairs, University of Iowa Carver College of Medicine Lynn Rowat Market President, West Bank

Mark Nolte Business Development Director Eric Hanson, Communications Director Sheri Jelinek Executive Assistant DaLayne Williamson Workforce Business Services Director


2010: Investors A M Management A W Welt Ambrisco Insurance

Corridor Business Journal

Integrated DNA Technologies

Merit Electric Ltd. Midwest Development & Investment Corporation

Cramer IT Consulting

Iowa Book LLC

Acme Electric Company

CRANDIC Railway

ACT, Inc.

Creative Management dba McDonald’s

Iowa City Area Chamber of Commerce

ActionCOACH of Iowa City – Rod Wittich

Dream Catcher

AdPro Design Group

The Eastern Iowa Airport

AEGON USA

ECO-4 Partners

Aero Rental

Economy Advertising/ Bankers Advertising/ TruArt Color Graphics

Alliant Energy

Iowa City/Coralville Convention & Visitors Bureau Iowa City Landscaping Johnson County Board of Supervisors

MidAmerican Energy

MidWestOne Bank Miron Construction MMS Consultants Myriad Developers LC Neumann Monson PC

Kabel Business Services

New Ventures

Ewers Men’s Store

Kelly Heating Service

OPN Architects Inc.

Farmers & Merchants Savings Bank

Keystone IT, Inc.

Pearson

King’s Material, Inc.

Arlington Development/ Prime Ventures (John Moreland & Gary Watts)

First American Bank

Kirkwood Community College

Peterson Contractors, Inc.

Steve Atkins

Fleck Sales/Miller Distributing

Alpla of Iowa Amana Society, Inc. American Bank & Trust

First Trust & Savings Bank

Kleffmann North America

Phelan, Tucker, Mullen, Walker, Tucker & Gelman LLP PIP Printing & Document Services

SourceMedia Group (formerly Gazette Communications) South Slope Cooperative Communications Company Spielman’s Event Services Story Construction Company Tipton Economic Development Corporation TMD, LLC Towncrest Pharmacy Toyota-Scion of Iowa City TrueNorth Companies LC University of Iowa Research Foundation

Freedom Security Bank

Knutson Construction Services

Frohwein Office Plus

John & Audrey Kofoed

Plumbers Supply Company

Benson & Hepker Design

GEICO

KZIA - Z102.9 & 1600 ESPN

Procter & Gamble/Oral B Laboratories

David Biancuzzo

Hall & Hall Engineers

L L Pelling

Pulkrabek Law Office

Bradley & Riley PC

Hawkeye Harley Davidson

Latta, Harris, Hanon & Penningroth LLP

Quad City International Airport

Leepfrog Technologies

Regal Construction

Lenoch & Cilek Ace Hardware

Regions Bank

Lensing Funeral & Cremation Service

Roberts Dairy Company

Vetter’s Inc. dba Culligan Water Technologies

Lepic-Kroeger Realtors

Rockwell Collins

Weitz Industrial

Henry Russell Bruce

Liberty Bank

Rohrbach Associates PC

Wells Fargo Bank

Herteen & Stocker Jewelers

Liberty Communications

RSM McGladrey, Inc.

West Bank

Liberty Growth

Ryan Companies US

West Liberty State Bank West Music Company Wolf Construction/ Modern Manor Inc./ Lake Ridge Inc.

Bachmeier Interiors Beisser Lumber Company

Brandt Heating & Air Conditioning Build to Suit Ltd. Carlson, Hartsock & Guither PLC Carousel Motors Central Iowa Power Cooperative (CIPCO) City Carton Recycling City of Coralville

Graham Packaging

Hawkeye Ready Mix Hawkeye Title & Settlement Services LLC Hayek, Brown, Moreland & Smith LLP

River City Radio - KCJJ

City of Iowa City

Hills Bank & Trust Company

Linn County REC

Schiller Solutions LLC

City of Kalona

MainStreet Partners

HJR Financial Group

City of North Liberty

Hodge Construction Company

McComas-Lacina Construction

Selzer Werderitsch Associates

City of Solon City of Tiffin City of West Branch City of West Liberty CIVCO Medical Instruments Clear Channel – KKRQ & KXIC Cook Appraisal Coral Ridge Mall

Holiday Inn Express Hotel & Suites Holiday Inn Hotel & Conference Center Hospers & Brother Printers Howard R. Green Company

McCrossen Consulting McEleney Autoplex

Sheraton Iowa City Hotel/hotelVetro Shoemaker & Haaland Professional Engineers

Mechanical Contractors of Iowa

Shuttleworth & Ingersol PLC

Mediacom

Simmons Perrine Moyer Bergman PLC

Hy-Vee Food Stores

Mercy Iowa City

Innovative Software Engineering

Merit Construction Company

University of Iowa Community Credit Union University of Iowa Hospitals & Clinics Unzeitig Construction US Bank Van Meter Industrial, Inc.

Shive-Hattery

Meardon, Sueppel & Downer PLC

Mercer Administration

University of Iowa Research Park

Skog Development/Town Square Development

The 2010 Annual Report of the Iowa City Area Development Group | 17


Iowa City Area Development Group 325 East Washington Street Suite 101 Iowa City, Iowa 52240 (319) 354-3939 | Fax (319) 338-9958 www.iowacityareadevelopment.com Report prepared by Eric Hanson Report design by Benson & Hepker Design

http://www.iowacityareadevelopment.com/files/2010%20ICAD%20Group%20Annual%20Report  

http://www.iowacityareadevelopment.com/files/2010%20ICAD%20Group%20Annual%20Report.pdf

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