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January 2013
The Corridor
Greetings!  
2012, the 20th anniversary of the Corridor, was an exceptional year thanks to the many investors and partners who support regional economic development and the companies and entrepreneurs we were fortunate to work with. Ten new business starts, over 200 new jobs committed, more than $35 million in new investments, 61 new investors and 4 new partners made a fun year. We're looking forward to an equally amazing 2013. Happy New Year to all!

We would like to welcome our newest investors:
Asher Motor Company, Spencer Realty, Chris Bjornstad with Cornwall Avery Bjornstad & Scott, Great Lakes Concrete and Deloss Construction.
Thank you to all of our investors for your continued support of economic development. 
Food Entrepreneur seminar coming to Spencer

Have you ever thought of starting a food business? Do you have a favorite family recipe you would like to bring to the marketplace? Are you a producer considering adding value to an agricultural product? Maybe you are a restaurateur or chef exploring the marketing of a house specialty. Or perhaps you've been selling your product at farmer's markets and want to get it in grocery stores.

 

According to Jill Gifford, manager of the University of Nebraska Food Processing Center Food Entrepreneur Assistance Program, this is a description of many of the individuals that participate in the program. "Since 1989 the Food Entrepreneur Assistance Program has helped hundreds of entrepreneurs throughout the United States investigate and realize their dream of starting a food business," explained Gifford. The Iowa Lakes Corridor has contracted with the University of Nebraska to bring this program to entrepreneurs in Iowa for the third time.

 

"The program was designed specifically to assist food manufacturing entrepreneurs," said Kathy Evert, president and CEO of the Iowa Lakes Corridor Development Corporation. "It begins with a one-day From Recipe to Reality seminar that provides entrepreneurs with an understanding of the key factors that need to be considered when starting a food manufacturing business. In one day, entrepreneurs will gain valuable insight on the basics of starting a food business that could take them months or even years to research on their own. We are very excited to be able to provide this valuable seminar to entrepreneurs in Iowa."

 

 "From Recipe to Reality" will be offered from 8 a.m.-5 p.m. on Saturday, February 16, at the Clay County Regional Events Center in Spencer. Early registration is encouraged due to limited space. To receive a Food Entrepreneur Assistance Program information packet and registration form, contact the Iowa Lakes Corridor Development Corporation, 520 2nd Avenue East Suite 2, Spencer, IA 51301, 712-264-3474 or 1-800-765-1428 or email bdalziel@lakescorridor.com. Registration can also be downloaded here.

Boji Custom Metal Works does international business

 

Scott Pyle, owner of Boji Custom Metal Works, created a ticket scanner and laundry cabinets for his international clients. 

 

 

MILFORD - When Scott Pyle took the Iowa Lakes Corridor's FastTrac entrepreneur training course two years ago, it was because of a CNC plasma table he had at home. "It was time to get it out of the garage and make a business of it," said Pyle.

 

That gave way to Boji Custom Metal Works. In his building in rural Milford, Pyle has his plasma cutter and two brake presses. One aspect of his business is building custom trailers for the food industry business. What sets his trailers apart from others is that his are 100 percent aluminum; most other trailers have steel frames that will eventually rust. Using aluminum also keeps the cost down for consumers.

 

The Oak Tree BBQ trailer that had been stationed at the Spirit Lake Wal-Mart during the summer was built by Pyle.

 

Pyle commented on a statement that struck him during FastTrac. During a discussion on entrepreneurs versus hourly workers, the risk the worker takes is having only one source of income. As the manager of Arnolds Park Amusement Park, he had just that. Now as an entrepreneur, he has income from many different clients.

 

One of Pyle's clients put him in contact with a cruise ship company. The ships use a cashless payment system. Each passenger gets a card similar to a credit card, that is used as a room key and payment system. Pyle has been building cabinets for the laundry machines on the ships. Passengers will be able to swipe their card and choose which laundry machine they want to use. Approximately 10 cruise ships will have six to 12 of Pyle's cabinets; the cruise ships are based in Italy. Pyle's company builds the frames; a separate company will create the electronic aspect.

 

It's not common for an entrepreneur to start their business with mainly international customers. "Most people just look locally for work," said Pyle. "There's a lot of work if you look beyond your region."

 

The same client that put Pyle in touch with the cruise line also connected him to a new soccer stadium going up in Dubai. Pyle is designing the box that will hold the scanners to allow entry. Attendees will be able to scan their own tickets and the turnstiles will admit them automatically.

 

Pyle calls his trailers the "bread and butter" of his business. While tailgating at an Iowa State Football game, he came up with the idea for a tailgating trailer. The prototype is in production in his shop. It features a bathroom with a shower, bunk beds, a space outside for a 55" flat screen television, and a swing out barbeque with a sink. And he already has a client interested.

 

Pyle had worked in the manufacturing industry for nine years, and always enjoyed it. "It's nice to see things you create at the end of the day."

 

Boji Custom Metal Works is located at 22904 Horse Creek Lane in Milford.

 

FastTrac NewVenture

The Iowa Lakes Corridor is again sponsoring the Kaufman FastTrac® NewVenture entrepreneurial training course, beginning Tuesday, February 26. It will be held every Tuesday from 6:30-9:30 p.m. through April 30, at Emerald Hills Golf Course. This program is best-suited for entrepreneurs in their early stages of business development. It provides the tools to develop a business concept, determine the viability of the business concept, and outline the critical steps to a successful business launch.

 

Registration can be downloaded hereHard copies are available in the Corridor office, 520 2nd Avenue East Suite 2 in Spencer. The cost for the 30-hour program is $199 and includes all materials, a business coach, and guest speakers at each session. The program will be facilitated by Brian Dalziel, senior vice president of the Iowa Lakes Corridor.

 

First Cost of Living Index now available

Last summer, Iowa Lakes Corridor staff began collecting data for a Cost of Living Index. The Cost of Living Index is designed to provide a useful and reasonably accurate measure to compare and contrast cost of living among urban areas, but also has a small cities component. Four communities in the Iowa lakes Corridor region are part of the small cities component that currently includes 14 small communities from Texas, Iowa, Kentucky, Missouri, Utah, Kansas, Michigan, Oklahoma and the Virgin Islands.

 

Items on which the index is based have been carefully chosen to reflect different categories of consumer expenditures. Prices are collected at a specific time, in strict conformance with standard specifications and provide a sound basis for constructing a gauge of differences in the cost of consumer goods and services.

 

The index has several key areas: food, housing, utilities, transportation, healthcare, and miscellaneous goods and services. There is a separate index for each area as well as a composite index. The Corridor staff conducts the surveys in person at area grocery stores, pharmacies, restaurants, and other shops, as well as by telephone. Area business support is greatly appreciated and will help ensure an accurate index is developed each quarter.

 

Kathy Evert, president and CEO of the Iowa Lakes Corridor Development Corporation said, "Employers have asked for cost of living data for many years as they search and relocate professionals to live, work and play in the Corridor region. We felt participating in this survey each quarter was important and would help the region's overall workforce recruitment efforts."

 

The average for all participating communities is 100. The composite scores for each town were slightly above average. Estherville's composite score was 103.3, Spencer was 101.1, Spirit Lake was 100.9, and Storm Lake was 100.4. Utilities ranged well below average in all communities, from a low of 79.0 in Spencer to 96.8 in Storm Lake. Groceries were below average in all communities as well, from 92.4 in Storm Lake to 95.4 in Spirit Lake. Healthcare had a greater fluctuation, with 76.1 in Storm Lake, 96.2 in Spirit Lake, 99.1 in Spencer, and 100.5 in Estherville. 

 

A cost of living calculator will be available for the public to use on the Corridor's website as a part of its workforce recruitment efforts. The cost of living calculator uses continuously updated data pulled directly from the highly regarded ACCRA Cost of Living Index to make these comparisons. The ACCRA Cost of Living Index data is based on the prices of more than 60 goods and services, updated quarterly and is highly regarded as the most accurate and reliable source of data comparing costs from city to city.

 

"The calculator will help individuals determine the salary needed to live in another community based upon their current salary," said Evert. "It will include all of the small cities and the urban areas that participate in the ACCRA survey and will be another tool in our toolkit."

 

For more information on the Cost of Living Index, contact Kathy at the Corridor office, 712-264-3474.

IADG's New Energy Efficiency Revolving Loan Program
Iowa Area Development Group will begin a new financial assistance program to support entities that are increasing energy efficiency in their operations or undertaking renewable energy demonstration projects on-site. Funding for this program will be provided through a revolving loan fund using the American Recovery and Reinvestment Act (ARR) State Energy Project Financing Funds. Key elements of this program will include:
Target Sector: Private, industrial, manufacturing, commercial
Project types: Energy efficiency, renewable energy, energy management systems and energy feasibility studies
Rate: Below market rate
Term: 10 years or less
Loan amount: $50,000-$500,000
More information will be available at www.IADG.com in late January regarding the application process and rules for this program.
Kudos!
Upcoming Events
Northwest Bank was recognized by USDA Rural Development as one of the state's top community bank loan originating and loan writing lenders in 2012 through USDA's guaranteed housing loan program. Northwest Bank was acknowledged with 112 loans totalling $11.2 million.

Simonsen Iron Works is expanding its facility. They are buying KW Manufacturing and will move the skid-steer attachment production to Spencer. Iowa Economic Development Authority funded the project with a $200,000 float loan; total cost for the project is $940,000. 

Area communities were awarded low interest loans to assist with clean water projects. Everly was awarded $92,500 and Terril was awarded $600,000. Funds provided by Iowa Finance Authority and Iowa Department of Natural Resources.

Clay Central Everly's FFA chapter was awarded $1,500 to conduct programs promoting ag-related careers. "Planting A Seed" grant is by Iowa Food and Family Project. Program sponsors are DuPont Pioneer and Iowa FFA Foundation.

Local utilities were recognized by the Iowa Utility Board and Governor Branstad for Super Storm Sandy assistance: Lake Park Utilities, Aurelia Municipal Electric, MidAmerican Energy and Alliant/Interstate Power and Light Company. 

Iowa Finance Authority awarded CAASA in Spencer $17,000 in grant funding to go toward shelter and related expenses.
Sackett Law Firm Open House

Sackett Law Firm will host an Open House in its new location, 110 West 4th Street in Spencer, second floor of the Arnold Building. The open house will be held Friday, January 25, from 3:30-6:30 p.m. Hors D'oeuveres and light refreshments will be served. 

 

Leadership Lunch and Learn Series

Are you frustrated with the everyday challenges you face as a supervisor? Want to learn more? Iowa Central Community College is hosting a series of classes that turns common sense into common practice. Classes will be held at Lakeshore Cafe in Storm Lake, from 11:30 a.m.-1 p.m. Topics to be covered include:

Empowerment supervision, February 22

Becoming a leader, March 1

Building an empowered team, March 8

Motivation, March 15

Communication skills, March 22

Problem solving, March 29

Delegation: Delegating or assigning tasks? April 5

Evaluating employee performance, April 12

Employee discipline, April 19

Each class is $69 per student. Costs include lunch and materials. Participants must register 3 days in advance of each class. For more information or to register, call Iowa Central Community College at 515-574-1293 or 800-362-2793 ext. 1293.

 

Understanding The Role Of STEM and Its Interface With a Skilled Workforce

The Lakes Area Employers' Council will be meeting on Wednesday, March 20, from 12-1:30 p.m. at Iowa Lakes Community College in Spencer. All employers, human resource personnel, accounting, payroll, and other staff members are invited to attend. Kari Webb will talk about "Understanding The Role Of STEM (Science, Technology, Engineering and Mathematics) and Its Interface With A Skilled Workforce." Participants are encouraged to register by Friday, March 15. Contact Robert.Becker@iwd.iowa.gov to register or call 712-262-1971 x 126.

 

Entrepreneurial Development Endowment Fund with the Okoboji Foundation Family of Funds    
The Corridor has created an Entrepreneurial Development Endowment Fund within the Okoboji Foundation Family of Funds. This fund gives us the ability to offer our donors the Endow Iowa Tax Credit available only through a qualified community foundation.

With a contribution to this fund, taxpayers may be eligible to receive a 25% Iowa Tax Credit in addition to normal federal charitable income tax deductions for certain charitable gifts. This is an exciting program that benefits both donors and the Corridor. 

Gifts to the Iowa Lakes Corridor Entrepreneurial Development Fund allow the Corridor to use your charitable contribution strategically in response tot he most pressing entrepreneurial and economic development issues. Your contribution continues to support economic growth and development during and after your lifetime.

More information, as well as a contribution and pledge form, can be found here . You can also make a donation on the Community Foundation of Greater Des Moines' website.


If you think in terms of a year, plant a seed

If in terms of ten years, plant trees
If in terms of 100 years, teach the people
-Confucius

Sincerely,

Iowa Lakes Corridor Staff
Kathy Evert
Brian Dalziel
Joanne Follon
Samantha Miller

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520 2nd Avenue East Suite 2, Spencer, IA 51301   712-264-3474