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September 2010
West Central Iowa Development Bulletin |
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 Director's Report
By: Jason E. White The Midwest Partnership EDC's three-year strategic plan ended at the 2009, but the organization's work continues. In fact, on September 9th the board met at the Lake Panorama National Conference Center to create a new multi-year economic development plan for the quad-county region. The theme for the session was "Dream Big".
As part of the retreat, the board took time to review the survey results as completed by Midwest Partnership EDC board members and stakeholders. The survey revealed the following to be strengths of the region:
- Available skilled workers
- Interstate/highway access
- Pro-business attitude
- Cost competitiveness
- Safe environment in which to live and work
Stakeholders see opportunities for the region in the following areas:
- Eco-tourism and recreation
- Agribusiness and renewable energy enterprises
- Main Street redevelopment
The survey revealed additional insights about the region. The close proximity to metropolitan areas is seen as a plus, as is the area's agricultural economic base and recreational options. Stakeholders would like Midwest Partnership EDC to focus on "Business Retention & Expansion" and "Recruiting New Business", as well as "Infrastructure Improvements".
Most stakeholders completing the survey indicated that they prefer Midwest Partnership EDC to update them with the organization's e-newsletter and website. |
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| Connect and Follow! |
Connect to Midwest Partnership EDC on social networks.
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| Become a Member |
Support area economic development by becoming an investor-member of Midwest Partnership! Email info@midwestpartnership.com for more information. |
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| List Your Event! | |
To have your event listed on our website and in this monthly newsletter, email: info@midwestpartnership.com |
| Midwest Partnership EDC Staff | |
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| Board of Directors |
Executive Committee:
Mike Underwood, President, Guthrie County
Sid Jones, Vice-President, Greene County
Brett Irlmeier, Secretary, Audubon County
Warren Varley, Treasurer, Adair County
Mike Carey, Immediate Past President, Guthrie County
Scott Homan, Adair County
Troy Wessel, Audubon County
Norm Fandel, Greene County
Eric Tiernan, Guthrie County
Adair County:
Duane Armstead
Merlyn Brown
Ryan Frederick
Renee Schwartz
Matt Wedemeyer
Audubon County:
Lyle Hansen, Jr.
Jason Hocker
Todd Nelsen
Tom Nielsen
Greene County:
John Clark
Mary Jane Fields
Rick Morain
Amy Milligan
Teresa Mobley
Brad Wilson
Guthrie County:
Steve Bireline
Mike Dickson
John Rutledge
Forrest Schnobrich
Jack Smith |
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| Greene County Business Connections
Majority of companies predict upcoming expansions
 Midwest Partnership EDC recently collaborated with the Greene County Development Corporation (GCDC) on 23 visits with leading employers in the county. The project, called "Business Connections", involves a high level of interaction between local/regional economic development staff and business executives, asking them questions related to their product, market, workforce, the community's services, and so on.
The last round of business visits in Greene County occurred in 2007, when 21 employers were visited. The results from the latest round include:
- 69.5% of CEO/Managers indicated expansion plans (next three years)
- Estimated dollar investment: $24.6% million
- Estimated new jobs: 204 (16% increase)
- Estimated new square footage: 85,000
- 61% said that their primary product/service is growing or emerging
Employers were also asked about their "greatest achievement" over the last three years. Answers ranged from "acquired another company," to "completed expansion", to "satisfying a large overseas order". Overall, however, companies were very proud about having persevered through tough economic times.
Information will continue to be evaluated and shared with partners on the findings of these visits.
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| Flint Hills Buys Menlo Plant
Koch Industries subsidiary made transaction in September
 Kansas-based Flint Hills Resources is the new owner of the Hawkeye Growth ethanol plant near Menlo. The transaction happened earlier this month, which included the purchase of a sister plant at Shell Rock, Iowa. Company executives say they don't anticipate any major changes at the Menlo site, complimenting the professional workforce already on staff. The company held a meet and greet event earlier this month. Find out more here. |
| Wind Projects Advance in Region
Adair and Guthrie counties see progress
 Construction is complete on two 1.5-megawatt wind turbines in rural Adair County. Bulldog Wind Energy, LLC, and Wolverine Wind Energy, LLC, each received a USDA grant to the tune of $500,000 to help defray the cost of constructing the turbines. Farmers Electric Cooperative of Greenfield will purchase the power from the groups of local landowners who formed the LLCs. Excess power will be purchased by Central Iowa Power Cooperative (CIPCO). You can see more pictures of the turbines on their Facebook page by clicking here.
 Meanwhile, a much larger wind project is gaining steam in southern Guthrie County. Clipper Windpower's Project Eclipse is set to place sixty 2.5-megawatt wind turbines north of Adair. The Guthrie County Board of Supervisors this month unanimously approved a zoning permit allowing the structures to be erected in agricultural land. The total cost of the project is estimated at just over $200 million. The California-based company already has four active wind projects in Iowa, with almost 250 turbines among them. |
| Elk Horn/Kimballton a Great Place
Communities will be recognized in October ceremony
 The Danish villages of Elk Horn and Kimballton were recently named an Iowa Great Place. After missing out on being selected in 2005, the communities didn't give up and submitted a proposal in 2010 to become a model green community, based on practices currently used in Denmark. The proposal was one of only two selected this year and includes showcasing and enhancing tourist attractions, while building new facilities that utilize green energy.  The process included extensive visioning sessions where participants identified strengths, weaknesses, opportunities, and challenges in the communities. The committee also coordinated a community survey and held many face-to-face meetings to gather input. Several businesses and individuals have pledged money, time, and property to the projects. Elk Horn and Kimballton will be recognized at the Iowa Great Places banquet in Des Moines on October 22nd. |
| Businesses Celebrate Successes
One company opens, while another turns 35
 Carver's Ridge, a stone engraving, landscaping, and construction business, recently celebrated with an open house at their location in Stuart. The Stuart Chamber of Commerce held a ribbon cutting. When the day was said and done, nearly 400 visitors from as far away as Clearfield, Corning, Jefferson, and Pleasant Hill stopped by to visit. The husband and wife duo who runs the company, Tyson & Anne Greenwalt, are already looking at expansion plans for next summer. The company offers a wide array of services, including stone engraving and glass etching.  Meanwhile, on the other side of the spectrum, a well-established company in the region took time to celebrate 35 years in business - no small feat. Roy Sargent started Roy Sargent Building, Inc., in Menlo in 1975. The family business saw 300 past clients, suppliers, friends, employees, and family attend the event in June. The company constructs homes and garages, and even offers custom cabinetry work and dabbles in light commercial construction. |
| Regional Property Tax Profile
Tax rates higher, but property values low relative to income
 A recent Midwest Partnership study of property tax rates in the region shows that although rates are higher compared to the rest of the state, lower property values and high income rates offset the discrepancy. Out of the 30 communities in the region, only five (17%) have a consolidated tax rate lower than the state average of $35.49 per $1,000 in valuation. Midwest Partnership's regional average consolidated tax rate is pegged at $39.23. However, the basis for the tax - property values - are much lower in the four counties of Adair, Audubon, Greene, and Guthrie, as compared to the state average, while regional income ranks comparatively higher. On average, counties in the Midwest Partnership region see the 26th lowest property values, while ranking only 44th lowest in median household income. According to the study, the gap shows that business owners in the region may see higher tax rates compared to the rest of the state, but they'll also see lower property values and do business with people who have a higher amount of disposable income. View the full study here. |
| Stuart Rezones for Development
Nearly 300 acres in city limits now zoned for light industrial use
 After recent strong interest by several businesses looking to locate in the area, the Stuart City Council took a big step in making development sites in the city more appealing to those companies. The council changed the zoning of nearly 300 acres of city land from agricultural use to light industrial use. The move ensures interested companies that the land is available for that type of use, rather than going through the process of submitting a request for zoning changes and waiting for approval. |
| Video Highlights Region's Advantages
Winery co-owner enjoys the benefits of West Central Iowa
 Tracy Mahlstadt and her husband Ed, owners of Dale Valley Vineyard & Winery, enjoy operating their business in the Midwest Partnership EDC region. In a video interview produced by Midwest Partnership, Tracy explains how the region is a perfect location between multiple metro areas, as well as recreational and tourist destinations. Meanwhile, the Mahlstadts also enjoy a great working relationship with several innovative companies in the region who help them market and sell their product. Click here to see the video on Midwest Partnership's YouTube channel. |
| Monthly Investor Highlight: Banking
Banks are engine behind several economic development projects
This month, we recognize our investors in the banking sector. Not only are these partners investing in regional economic development by supporting Midwest Partnership EDC, they're also regular providers of capital for many business projects. Thanks to the following banking companies who have invested in Midwest Partnership: - Audubon State Bank
- Community State Bank - Paton
- Exchange State Bank - Adair |
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| Resource of the Month |
Iowa Microloan Program
The new Iowa Microloan program in the state of Iowa aims to provide financing options to entrepreneurs who cannot get credit approval from traditional financial institutions. The program loans up to $35,000 to borrowers who have businesses with less than 5 full-time employees and who have been denied from a bank or credit union. The purpose of the loan can be broad - from start-up to expansion to refinancing.
Businesses that participate in the program could use that financing to co-finance additional loans for a total package up to $105,000. They also receive a wealth of assistance, including becoming eligible for technical assistance grants up to $500/year.
The program will also work with business owners to create a technical assistance action plan and provide access to local, regional, statewide, and online networks of mentors, coaches, and other professionals willing to help the business become profitable.
Additionally, the program will help improve owners' credit scores, provided payments are made on time.
To find out more, click here. | |
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About Us
Midwest Partnership EDC is the non-profit, collaborative economic development organization formed to strengthen the economic vitality of the communities of Adair, Audubon, Greene and Guthrie counties of west central Iowa. |
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