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.
Iowa City Area Development Group | www.icadgroup.com | (319) 354-3939
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.