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Tag Archives: Iowa Economic Development Authority

Three Reinvestment District Projects receive provisional funding approvals

The Iowa Reinvestment District Program is designed to assist communities in developing transformative projects that will improve the quality of life, create and enhance unique opportunities and substantially benefit the community, region and state. The program provides for up to $100 million in new state hotel/motel and sales tax revenues to be “reinvested” within approved districts. Districts cannot exceed 25 acres in size and must be in an Enterprise Zone or Urban Renewal Area.

Iowa Reinvestment District plans must include tax revenues generated by “new retail establishments” and “new lessors”.  New retail establishments cannot exceed 50 percent of the total proposed capital investment. At least one of the new proposed projects within the district must reach a total capital investment of $10 million. And, the total amount of new tax revenues to be remitted to the municipality cannot exceed 35 percent of the total cost of all proposed projects in the district plan.

Three of the 10 applicants received a score in excess of 70 points (out of 100) and presented their projects to the Due Diligence Committee in May. The IEDA board today, upon the recommendation of the Due Diligence Committee, decided on provisional funding for the projects in the city of Des Moines, the city of Muscatine and the city of Waterloo.

The provisional funding decisions are designed to provide practical feedback for municipalities interested in creating a reinvestment district but are not final or binding. Following the provisional approval, final application materials fully meeting all of the program’s requirements are due prior to March 1, 2015. Applicants may amend any part of the pre-application to represent any change to the proposed projects within the district. The final application will be re-scored in the same manner as the pre-application, if changes are made. The board’s final funding decision may be different from the provisional funding decision based on the final application.

The city of Des Moines was provisionally approved for a maximum of $36,487,400 in funding for its proposed district in the city’s downtown. The Des Moines plan proposes a total capital investment of $178.5 million and includes building a convention headquarters hotel, investing in infrastructure and amenities to support new visitors, redeveloping important downtown sites, preserving significant architecture, improving walk-ability throughout downtown, and connecting important amenities such as the Iowa Events Center, Principal Riverwalk, the Civic Center of Greater Des Moines and Cowles Commons, the East Village, Court Avenue and Western Gateway Park.

The Muscatine Reinvestment District received provisional funding approval of $10 million maximum for its $41.1 million capital investment. This district includes one major project, the Riverview Suites Development, consisting of three elements: the construction of a new hotel, the remodel of a vacant building into a conference and events center, and the construction of a parking ramp.

The city of Waterloo was provisionally approved for $12 million maximum for the TechWorks district, located at the west end of downtown and made up of land donated by Deere & Company. The district has a capital investment of $74.1 million and includes three projects. The first is a mixed-use development including a business-class hotel, industrial incubator, private sector lab and manufacturing maker-space and John Deere Tractor & Engine Museum.  The second project area includes commercial out-lots such as a restaurants and retailers that complement other project areas. The third project area includes a marina for boat storage, boat sales, fuel sales and a riverfront restaurant.

Full application materials for these three projects will be available within 10 days for public viewing at www.iowaeconomicdevelopment.com/CommunityDevelopment/ReinvestmentDistrict. Applications for subsequent Reinvestment Districts will be accepted from March 1-15, 2015.

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Download a spreadsheet of today’s awards:
http://iowaeconomicdevelopment.com/UserDocs/documents/IEDA/june14awards.pdf

Branstad signs the Iowa Apprenticeship and Job Training Act into law

May 27, 2014

– Gov. Terry E. Branstad today was joined by Iowa Lt. Gov. Kim Reynolds and Iowa Economic Development Authority Director Debi Durham as he signed the Iowa Apprenticeship and Job Training Act into law.

“Across Iowa we’re seeing record-breaking economic development projects that have resulted in more Iowans working than ever before in our state’s history,” said Branstad. “The projects bring an increased demand for skilled tradespeople. The Iowa Apprenticeship and Job Training Act will ensure companies looking to expand or build in Iowa are met with a well-trained workforce.”

“Economic development projects across Iowa since 2011 have brought quality, good-paying jobs to our communities,” said Reynolds. “In order to continue to attract these companies, and the jobs they bring with them, we must have a highly-skilled workforce ready to meet the demands of our growing economy. The Iowa Apprenticeship and Job Training Act will expand funding for apprenticeship training, help reduce student debt and provide Iowans the skills needed for a successful career.”

The Iowa Apprenticeship and Job Training Act does the following:

  • Allow students to earn while they learn, rather than taking on significant student debt.  They provide the apprentice with focused, hands-on training and a paycheck from day one.
  • The Governor’s plan triples funding for apprenticeships while reforming and improving the state’s apprenticeship program.
  • With over $8.8 billion in capital investments incentivized by the Iowa Economic Development Authority, demand for a skilled workforce has increased all across our state.
  • Nationwide, there are registered apprenticeships for more than 1,000 occupations, with programs impacting 250,000 employers and approximately 450,000 apprentices. In Iowa in FY13, there were 662 registered apprenticeship programs, and over 8,100 registered apprentices.

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Economic Development Board Approves Cedar Valley Project

The Iowa Economic Development Authority (IEDA) board  awarded direct financial assistance and tax benefits to nine companies for job creation and expansion projects including a major project in the Cedar Valley. These awards will assist in the creation/retention of 484 jobs and will result in nearly $105 million in new capital investment for the state.

A proposed project includes an investment to expand tractor product laboratories at the John Deere Product Engineering Center in Cedar Falls. These investments will address the evolution of tractor size and power, and add test capabilities to help ensure that John Deere products meet customers’ expectations for productivity, reliability, efficiency and comfort. The project is expected to have a capital investment of $27.7 million and would retain 29 jobs at a qualifying wage of $18.84. The board awarded John Deere tax incentives through the HQJP to complete this project in Iowa.

 

Zuidberg to Locate First U.S. Facility in the Cedar Valley of Iowa


Officials from Zuidberg, the City of Cedar Falls, Iowa, Greater Cedar Valley Alliance & Chamber and Iowa Economic Development Authority have jointly announced the location of Zuidberg North America, Inc. in Cedar Falls, Iowa.

Zuidberg’s facility will be located in the Cedar Falls Industrial Park on Capital Way in an industrial operations building, that local developer, Brent Dahlstrom will construct this year.   Zuidberg NA starts with 10,000 square feet, to establish a warehouse and distribution facility to service the North American market (USA, Canada and Mexico).   Zuidberg NA, Inc. will distribute two product lines, Frontline Systems, and Transmissions which are manufactured by parent company Zuidberg Frontline Systems B.V. located in the Netherlands. Starting in 2015 a third product line, Tracks, will be added.

“Iowa and the Cedar Valley are very central within the USA, and have an excellent reputation for global manufacturing including a hardworking and reliable workforce,” said Rudolf de Jong, President, Zuidberg North America Inc.   “This fits with the Dutch and the Zuidberg mentality in particular,” de Jong stated.

“Also, we wish to be in the heartland of America’s agriculture and agricultural machinery industry.” de Jong added.

“Zuidberg appreciates the great and inspiring help the State of Iowa, the Cedar Valley Alliance & Chamber and local business leaders offered which helped to make the decision easier.” de Jong said.

Zuidberg was first introduced to the idea of an Iowa location after meeting representatives from IEDA’s European office at a 2011 trade show in Germany. After continued contact with Iowa officials, Zuidberg executives traveled to Iowa this past summer to visit several suitable locations for their North American project.

“Through our focus on recruiting supply chain companies to Iowa, we’ve been courting Zuidberg for a few years now,” said Debi Durham, director of the Iowa Economic Development Authority (IEDA). “We are so pleased this advanced manufacturing company ultimately chose Cedar Falls, Iowa to call home.”

Several Iowa communities and multiple states were considered during the process.  The Cedar Falls site was selected for its location and the ability of Zuidberg to work with the developer to design the building before construction began.

“It is significant that Zuidberg makes their first North American investment in the Cedar Valley.  This decision again affirms the Cedar Valley as a location to manufacture and serve global markets,  and we deliver a quality of life that persuades young professionals like Rudolf de Jong and his family to relocate here from the Netherlands,”   said Steven Dust, CEO, Greater Cedar Valley Alliance & Chamber.

“On behalf of our manufacturers and all businesses and institutions, the Alliance & Chamber welcomes Zuidberg to the Cedar Valley of Iowa and North America.” Dust added. The Cedar Valley must also recognize the hard work of Lisa Skubal, Alliance & Chamber Vice President of Economic Development and her project team that sold Zuidberg on a superior Cedar Valley location,” Dust concluded.

Zuidberg North America will take occupancy of the facility in June 2014 and be fully operational by July 1, 2014.   Zuidberg will be hiring in-house sales and technical positions this spring.

“The City of Cedar Falls is extremely pleased that Zuidberg North America, Inc. has selected Cedar Falls and the Cedar Valley as its home for the company’s first facility in North America.  We appreciate the efforts of all involved to make this project a reality including the IEDA, GCVAC, City staff, Cedar Falls Utilities, Brent Dahlstrom, and of course Rudolf de Jong.” said Cedar Falls Mayor Jon Crews.

“We are glad to welcome Zuidberg as our newest member of the Cedar Falls Industrial Park and look forward to a successful long term partnership.” said Bob Seymour, Community Service Manager, City of Cedar Falls.

Zuidberg is a family owned and managed company based in Ens, The Netherlands, dedicated to serve the world-wide agricultural industry. Since 1982, farmers all over the globe rely on Zuidberg to make their businesses more efficient by making use of the Zuidberg front hitches and front PTO’s, transmissions or rubber track systems. Zuidberg‘s products are sold by importers in over 45 countries worldwide. The remarkable quality and performance of the Zuidberg products has as well been recognized by many OEM’s, more than 40 manufacturers of tractors and harvesting equipment around the globe make use of Zuidberg’s unique knowledge and experience. www.zuidberg.com

 

 

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Top Leaders Attend Cedar Valley Legislative Event

The Alliance & Chamber Government Relations Committee hosted the 2014 Cedar Valley Legislative Reception on Tuesday, February 11th in Des Moines. The reception offers investors the unique opportunity  to speak with policy makers face to face in a casual environment.

In spite of the House being in debate until almost 6:15 pm and other competing functions,  those in attendance from the Cedar Valley were among some of the most important players at the State House: the Governor; the Lt. Governor; Debi Durham and her right hand man, Tim Whipple from the Iowa Economic Development Authority; Senate Majority Leader Mike Gronstal (who said this was his #1 priority event for the evening); the Senators from Black Hawk, Bill Dotzler  and Jeff Danielson, who was the first to arrive and one of the last to leave; Senate President Pam Jochum; and House Assistant Majority Leader Walt Rogers. In all, 10 Senators and four Representatives were in attendance.   President Mark Kittrell and Communications & Marketing Director, Tonja Richards represented the Iowa Innovation Corporation with whom we are working on the Iowa Advanced Manufacturing Center.

Advanced Manufacturing Hub Step Closer with State Funding

The Cedar Valley TechWorks is one step closer to becoming the physical location of an Advanced Manufacturing Hub for the region and state thanks to legislation adopted this week.  Nearly $4 million was included in Iowa Economic Development Authority appropriations for the project.

The IEDA’s Iowa Invocation Council, which will administer the funds, has been working closely with the Cedar Valley TechWorks and Greater Cedar Valley Alliance & Chamber to establish the Campus as the designated site for the Hub.

The bulk of the funds will construct improvements in the Tech 1 building on the Campus. A portion of the funds will be used for the University of Northern Iowa to purchase a 3-dimensional (3D) printer to fabricate on-demand molds for cast components  to support  advanced manufacturing , in collaboration with TechWorks.

“With this funding, we can make the capital and infrastructure improvements to the Tech 1 building needed to attract more technology and bio-products related industrial operations and partners to the campus. The investment in building improvements and equipment will prepare space for new businesses and educational programs, and bring tremendous momentum and excitement to the Campus as these projects move forward alongside the previously announced anchor projects,” states Cary Darrah, General Manager of the Cedar Valley TechWorks Campus. “ We are grateful to the entire Cedar Valley legislative delegation for its bi-partisan advocacy for this funding, especially Senator Bill Dotzler who really went to bat for the Cedar Valley and the TechWorks Campus. His work for this and other economic development issues this year is recognized by legislators from both sides of the isle.”

Jerry Thiel, Director of UNI’s Metal Casting Center is also optimistic about the impact of the collaboration on the industry statewide, “The capabilities of having technology like this will undoubtedly increase the overall competitiveness of Iowa manufacturers by allowing them to deliver products to the market at an unprecedented rate.”

Randy Pilkington, Executive Director, UNI Business and Community Services adds,
“This is a substantial investment in advanced manufacturing not just for the Cedar Valley, but for the entire state of Iowa. It also shows UNI’s commitment to advanced manufacturing statewide.”

What this means to the Cedar Valley

“The Cedar Valley is known as Iowa’s center of Advanced Manufacturing,” states Steve Dust, CEO of the Greater Cedar Valley Alliance & Chamber.  “With the high concentration of manufacturing in our economic area, and the manufacturing technology -related resources of UNI and our higher education partners, the Cedar Valley is the prime location to establish the state’s hub of leading edge applied manufacturing technologies. As businesses and entrepreneurs from all over the Midwest access our equipment and facilities to improve and produce innovative products, we take another step in innovation led economic development in the Cedar Valley economy, and toward fulfilling the original vision for the Campus. We’re proud to be known as the Advanced Manufacturing Hub,” concludes Dust.

The Governor is expected to sign the bill into law before the end of June.

The Cedar Valley TechWorks is a 30-acre advanced manufacturing and biotechnology research, development and education center, and business and manufacturing cluster. The campus is located in downtown Waterloo, Iowa adjacent to the John Deere operations. The Cedar Valley TechWorks is owned and managed by the Greater Cedar Valley Alliance & Chamber.

 

 

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Cedar Falls Community Main Street Receives Award from Main Street Iowa

Cedar Falls Community Main Street received the award for best Image Promotion for their 25th Anniversary Celebration at the 27th annual Main Street Iowa Awards celebration, which was held on Friday, May 17th at the Community Choice Credit Union Convention Center at Veteran’s Auditorium in downtown Des Moines. Melissa Barber and Cary Darrah, co-chairs of the 25th Anniversary Celebration Committee, accepted the award on behalf of the 25th Anniversary Planning Committee at the event, which was attended by approximately 400 individuals representing communities across the state. Competitive nominations were submitted for 105 projects; 26 were selected for awards and six received honorable mention.

Governor Terry Branstad, Lt. Governor Kim Reynolds, and Debi Durham, director of the Iowa Economic Development Authority (IEDA) presented the honors. Main Street Volunteer of the Year awards were presented to 47 individuals or couples who were selected by their community for outstanding dedication and volunteer service benefiting the local Main Street program.

“I am proud to have been part of the effort to bring the Main Street program to Iowa in 1985 as an economic development tool,” stated Governor Branstad.  “It is gratifying to see the successes Iowa communities have had because of our Main Street program.  As a result of the hard work of countless local leaders, Iowa’s Main Street districts in communities large and small are flourishing.”

As one of the oldest Main Street programs in the state, Community Main Street is extremely proud of our history and the success with which Cedar Falls has been blessed. For 25 years, this organization has faced challenges, built partnerships and championed economic revitalization downtown.

To celebrate their 25th Anniversary, Community Main Street, along with a dedicated committee of volunteers, turned 2012 into an epic celebration that added three special anniversary events to an already-packed downtown schedule. The year kicked off in January with an 80’s Party on Main: Don’t Stop Believing, as a nod to the 1987 beginnings of Community Main Street. In June, a free, family-friendly outside music celebration called Getaway to Gateway was held as a thank-you to the community for ongoing support. In October, a 25th Anniversary Gala, featuring unique auction items and live music, was held as the grand finale to the year.

None of this would have been possible without the hard work and commitment of the 25th Anniversary Planning Committee. Community Main Street would like to thank Melissa Barber, Cary Darrah, Kim Abbas, Janelle Darst, Jodi Landau, Karen Oltman, Mike Reyhons, Julie Shimek & Jamie Wilson for their dedication and support in planning this wonderful year-long celebration that has now received state-wide recognition as the Best Image Promotion of the Main Street Iowa Program during 2012.

 

 

Hydrite Chemical Company expands Waterloo facility

December 27, 2012 (DES MOINES, IA) – The Iowa Economic Development Authority (IEDA) board today awarded financial assistance to three companies for job creation and expansion projects. Today’s awards will assist in the creation of 96 jobs, retention of nine jobs and will result in over $9.9 million in new capital investment for the state.

 

The board held a telephonic meeting today to take action on three of the seven projects that were to be considered at the Dec. 20 meeting that was cancelled due to weather. The other projects will be reviewed at future meetings.

 Hydrite Chemical Company expands Waterloo facility

Hydrite Chemical Company, one of the largest manufacturers and distributors of chemical products in the U.S., plans to expand its existing Waterloo facility to increase production capacity with the assistance of board-approved tax benefits. The project is expected to create nine jobs, retain one job and represents a capital investment of $8.83 million.

Read more here.

Be part of something greater - The Cedar Valley of Iowa

The Greater Cedar Valley Alliance & Chamber is a regional economic community development corporation working to increase economic vitality and wealth in the Waterloo / Cedar Falls area and surrounding economic region. The Alliance & Chamber has approximately 800 members that represents over 40,000 employees