Priority One 2009-2010 Annual Report

A Balanced Approach2009–2010 Annual Report

Letter from the ChAir

Last October at our annual meeting, I commented that I was very optimistic about the future of economic development activity for our area. After a very difficult 18 months, our prospect list was growing and companies were looking at expansion opportunities versus consolidations. The year progressed much like the national economy—slow but steady improvement in activity. Even though many companies continued to delay location and expansion decisions, Priority One facilitated the attraction of two new businesses to the area and assisted nine existing businesses with expansions. These developments accounted for over $44 million in new capital investment and the creation of 875 new jobs in our community. One of the most significant projects this year was Go Daddy’s expansion into Hiawatha, which will result in hundreds of new jobs in customer care, marketing, training, creative and software development, with salaries ranging from $35,000 to $110,000 per year. This year, we also launched the Priorities 2015 – Our Commitment to Growth initiative. The campaign will raise funds to cover Priority One’s operational expenses through December 31, 2015. Both the private and public sectors have shown overwhelming support for Priority One’s activities by reinvesting in the organization. To date, over 98% of the companies we’ve called on have pledged their commitment to Priority One. Our investors have made a clear statement by reinvesting that Priority One needs to play a critical role in our community’s future.

This past May, the Cedar Rapids area was recognized by Forbes Magazine as the thirteenth best major metropolitan area in the nation for businesses and careers, placing ahead of larger metros like St. Louis, Missouri, Atlanta, Georgia, Minneapolis, Minnesota and Houston, Texas. Even more promising, Cedar Rapids was ranked the number one location for projected job and economic growth in the country. As I write this letter, I am more optimistic than ever for our community’s future economic development activity. In just the past few weeks, Whirlpool, Nordstrom, Direct, International Paper, American Profol, US Cellular and CRST all announced plans to hire additional employees. Hiring such as this is the pre-cursor to expansion opportunities. Look for good things to happen in 2010-2011. It has been an honor for me to work with such a dedicated staff and board of directors. I thank you for the opportunity to serve.

Kyle SkogmanChair, Priority One Board of Directors

Letter from the ViCe ChAir

Over the past year, Priority One introduced several new initiatives to continue our commitment to making the Cedar Rapids area the location of choice for new and existing businesses, as well as highly-skilled workers and quality professionals. While the global economic recession has affected the pace of project announcements, workforce demands and activities have never been busier. This year, Priority One launched new employee engagement programs with an increased emphasis on intern recruitment. Employers in the Cedar Rapids area typically hire over 700 interns annually, and what these young professionals expe-rience during their short stay in our community often determines whether or not they decide to make the Corridor their permanent home. Programs like Conquer the Corridor and MySummerNow were developed to ensure students are experienc-ing everything our area has to offer, and to keep young talent in our community. Priority One also continues to partner with the Iowa City Area Development Group on innovative ways to market the Corridor region, drawing on the benefits and advantages of both locations. In addition to jointly heading the Corridor Business Alliance’s Economic Development Taskforce, in February, Priority One and ICAD launched the redesigned Tech-Corridor.com, a regional web site targeted to consultants representing basic sector business recruiting. We are currently working with 27 companies making expansion decisions within the next twelve months, with the potential of creating over 1,600 jobs and over $300 millions in new capital investments in our community. Thanks to the leadership of Kyle Skogman and our board of directors, the dedication of the Priority One staff, and continued collaboration with our partner organizations, I am confident that we will be able to offer these companies the best possible combination of location advantages and quality workers in the country. I look forward to my responsibilities as chair of Priority One for fiscal year 2011, and what the future holds for our community.

Barry BoyerVice Chair, Priority One Board of Directors 1

ProjeCtS

Business Recruitment & Exist ing Business Expansion

While fiscal year 2009 saw many companies reevaluating their corporate footprint and considering consolidation over expansion, fiscal year 2010 saw a slow but steady increase in activity. Though the global economy is still in a recovery phase, businesses have begun to make location decisions and to announce hiring increases. In fiscal year 2010, Priority One assisted ten existing business with expansions and facilitated the attraction of two new companies to our area. These projects produced over $55 million in capital investment and created 881 new jobs with an average salary of $48,400 per year. By staying focused on basic sector, interstate commerce industries where our region has an established history of success, partnering with academic institutions and other economic development partners to research potential new markets, maintaining strong relationships with corporate decision makers through the headquarter contact program, and developing new contacts and potential clients through industry conferences and office visits, Priority One continues to keep the Cedar Rapids area competitive, attractive and prepared for new opportunities.

Targeted Industries

Electronic Equipment & Design•Information Technology•Food Ingredient & Bioprocessing•Food Processing•Wind Energy•

Headquarter Vis its & Industry Conferences

During fiscal year 2010, Priority One made 30 visits to the corporate headquar-ters of companies with significant operations in the Cedar Rapids/Iowa City Technology Corridor, including six visits to corporate headquarters in Europe. The headquarter contact program continues to provide essential feedback on key issues for business growth and expansion, and the strong and lasting relationships built by these visits often lead to new business ventures for the Cedar Rapids area. Priority One also attended several conferences specific to our targeted industry clusters. These events allow us to make contact with potential clients, maintain relationships with companies we have worked with in the past, and stay up to date on industry trends.

Conferences Attended during Fiscal Year 2010

American Wind Energy Association’s WindPower Conference•Food Ingredients Europe Conference•German American Chamber of Commerce’s BioEnergy Conference•German American Chamber of Commerce’s Wind Energy Business Conference•International Economic Development Council’s “How You Build It” Conference•International Food Technology Tradeshow•Renewable Energy Forum•World Congress on Industrial Biotechnology & Bioprocessing•

Conference trips also provide an opportunity to call on the corporate headquar-ters of companies interested in establishing operations in our community. While in Germany for the Food Ingredients Europe conference, Priority One staff held meetings with 11 food ingredient/bioprocesssing companies interested in expanding into the US market. The WindPower 2010 conference in Texas offered the opportunity to meet with several site selection consultants and other prospects with headquarters in the Dallas and San Antonio region.

Strategy for Success

Focused Scope •Research Driven •Targeted Markets •Relationship Building •Existing Industry Assistance•

Pictured to the right (clockwise from top-left): Dennis Jordan, Allen Merta, Jim Sullivan, Jeff Rossate2(L to R): Kathleen Pegg, Kari Lammer, Ashley Taylor

A Balanced Approach

At Priority One, we strive to give equal importance to business recruitment and expansion, as well as workforce attraction and retention, to create a stable environment for innovation.

ProjeCtS

Capital Campaign

In 2005, Priority One launched the Priorities 2010: Focus on the Future campaign, raising nearly $6.4 million to support economic development initiatives through December 31, 2010. Though this period brought both a global recession and a flood that devastated the Cedar

Rapids community, Priority One has remained committed to its core mission. Over the course of the campaign Priority One has facilitated the creation of 5,721 new jobs, assisted 61 existing businesses with expansions, recruited 18 new companies to our area and helped bring over $1.26 billion in capital investments to our community.

This past January, Priority One began a new capital campaign, Priorities 2015: Our Commitment to Growth, to fund the organization’s economic development activity over the next five years. Business development goals for this period include:

Assisting in the creation of 6,000 new jobs, with over 50% paying at •or above the Linn County average salary of $42,900 annually

Leading in the location of 40 new companies to the area•Assisting 125 existing businesses in expansion and training efforts•Encouraging an increase in capital investment of at least $875 million•

Dan Smith, Vice President/Whirlpool’s Amana Division

“Cedar Rapids is probably the best community that we’ve dealt with to date in terms of their ability walk the talk and meet and exceed our expectations. Some of our competitors outsource their call center services, in many cases over seas. The quality of people in Cedar Rapids are the type of people we strive throughout the country to have represent our company.”

Blake Nordstrom, President /Nordstrom Inc

Regional ism

While Priority One has always been committed to maintaining strong relationships with its economic development partners in the Corridor, this fiscal year brought a renewed focus to regional initiatives. In addition to co-chairing the Corridor Business Alliance’s Economic Development Strategy Task Force with the Iowa City Area Development (ICAD) Group, Priority One has been involved with several other regional projects. In February, Priority One worked with the ICAD Group, Iowa County and the Iowa Department of Economic Development to help Whirlpool Corporation with expansion plans for its Amana facility. That same month, Priority One and the ICAD Group launched the re-designed Tech-Corridor.com, a regional web site targeted to site selection consultants representing basic sector businesses. Priority One and the ICAD Group continue to partner on many regional initiatives, including workforce programs and devel-opment of the wind energy industry in our region.

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“We know there is a first-rate employee pool right here in eastern Iowa—people we can put to work to help us provide our growing customer-base with the brand of service Go Daddy customers love.”

Bob Parsons, Go Daddy CEO and Founder

WorKforCe SerViCeS

College and Profess ional Recruitment

In fiscal year 2010, Priority One remained focused on recruiting quality individuals to enhance the workforce in the Cedar Rapids/Iowa City Corridor. In order to meet the needs of area employers, Priority One attended career fairs at over 20 colleges and universities across the country, including:

Georgia Institute of Technology•Illinois State University•Indiana State University•Iowa Sate University•Michigan State University•Missouri University of Science & Technology•North Carolina Agricultural & Technical State University•North Dakota State University•Purdue University•University of Illinois•University of Iowa•University of Michigan•University of Nebraska•University of North Dakota•University of Northern Iowa•University of Notre Dame•University of Wisconsin•

In addition, Priority One distributed information about employment opportunities in the Corridor to over 500 students throughout fiscal year 2010. Another recruiting tool that remains popular in the Corridor is the “Pick Your Pace” employee recruitment packet. In fiscal year 2010, Priority One distributed over 200 packets to local employers including Trapeze ITS, CRST, AEGON USA, Mercy Medical Center, Penford Products, Coldwell Banker and Genencor. This past fall, Priority One partnered with the Iowa City Area Development Group and the University of Iowa Alumni Association for a unique recruiting event. A chartered bus took employers and UIAA members from the Corridor area to network with job-seeking UI alumni in Chicago. The event provided an opportunity for UI alumni living in Chicago to talk face to face with experienced professional from the Corridor about the career opportunities in the Cedar Rapids/Iowa City area. As part of our ongoing diversity recruitment strategy, Priority One attended several conferences and career fairs during fiscal year 2010 targeted specifically at diverse candidates, including the University of Madison Society of Women Engineer’s Evening with Industry event and the NACCP National Convention Diversity Career Fair.

Engagement Programs

In January 2009, Priority One partnered with the Cedar Rapids Downtown District and the Iowa Cultural Corridor Alliance to deliver a 30-minute presentation on Corridor living to 35 local HR directors and business owners. Titled Conquer the Corridor, the program was designed as a free tool to help companies educate interns and new employees on ways to get connected in the Corridor. Since then, the program has evolved into a 60-minute interactive and comprehensive overview of culture, nightlife, housing, healthcare, education, and recreation opportunities available in the Corridor. The presentation has been given nearly 50 times to new employees, interns and existing staff at companies like AEGON USA, Rockwell Collins, Whirlpool, YellowBook, the Duane Arnold Energy Center, Skogman Realty, Fuel Inc. and the University of Iowa, as well as to organizations like Big Brothers Big Sisters and Americorp Vista and at events like the “Beyond Rubies” Conference. This year, the group launched ConquertheCorridor.com, a web site with information on volunteering and networking, links to upcoming festivals and events, and a list of local shopping and dining locations.W

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WSPictured to the right (clockwise from top): Taylor Harps, Intern, Rockwell Collins,

Tuskegee University; Crystal Steed, Intern, Rockwell Collins, North Carolina Agricultural & Technical State University; Antoya Kyles, Intern, Rockwell Collins, Tuskegee University;

India Waddell, Intern, Rockwell Collins, North Carolina Agricultural & Technical State University6 7

WorKforCe SerViCeS

College and Profess ional Recruitment

In fiscal year 2010, Priority One remained focused on recruiting quality individuals to enhance the workforce in the Cedar Rapids/Iowa City Corridor. In order to meet the needs of area employers, Priority One attended career fairs at over 20 colleges and universities across the country, including:

Georgia Institute of Technology•Illinois State University•Indiana State University•Iowa Sate University•Michigan State University•Missouri University of Science & Technology•North Carolina Agricultural & Technical State University•North Dakota State University•Purdue University•University of Illinois•University of Iowa•University of Michigan•University of Nebraska•University of North Dakota•University of Northern Iowa•University of Notre Dame•University of Wisconsin•

In addition, Priority One distributed information about employment opportunities in the Corridor to over 500 students throughout fiscal year 2010. Another recruiting tool that remains popular in the Corridor is the “Pick Your Pace” employee recruitment packet. In fiscal year 2010, Priority One distributed over 200 packets to local employers including Trapeze ITS, CRST, AEGON USA, Mercy Medical Center, Penford Products, Coldwell Banker and Genencor. This past fall, Priority One partnered with the Iowa City Area Development Group and the University of Iowa Alumni Association for a unique recruiting event. A chartered bus took employers and UIAA members from the Corridor area to network with job-seeking UI alumni in Chicago. The event provided an opportunity for UI alumni living in Chicago to talk face to face with experienced professional from the Corridor about the career opportunities in the Cedar Rapids/Iowa City area. As part of our ongoing diversity recruitment strategy, Priority One attended several conferences and career fairs during fiscal year 2010 targeted specifically at diverse candidates, including the University of Madison Society of Women Engineer’s Evening with Industry event and the NACCP National Convention Diversity Career Fair.

Engagement Programs

In January 2009, Priority One partnered with the Cedar Rapids Downtown District and the Iowa Cultural Corridor Alliance to deliver a 30-minute presentation on Corridor living to 35 local HR directors and business owners. Titled Conquer the Corridor, the program was designed as a free tool to help companies educate interns and new employees on ways to get connected in the Corridor. Since then, the program has evolved into a 60-minute interactive and comprehensive overview of culture, nightlife, housing, healthcare, education, and recreation opportunities available in the Corridor. The presentation has been given nearly 50 times to new employees, interns and existing staff at companies like AEGON USA, Rockwell Collins, Whirlpool, YellowBook, the Duane Arnold Energy Center, Skogman Realty, Fuel Inc. and the University of Iowa, as well as to organizations like Big Brothers Big Sisters and Americorp Vista and at events like the “Beyond Rubies” Conference. This year, the group launched ConquertheCorridor.com, a web site with information on volunteering and networking, links to upcoming festivals and events, and a list of local shopping and dining locations.W

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WSPictured to the right (clockwise from top): Taylor Harps, Intern, Rockwell Collins,

Tuskegee University; Crystal Steed, Intern, Rockwell Collins, North Carolina Agricultural & Technical State University; Antoya Kyles, Intern, Rockwell Collins, Tuskegee University;

India Waddell, Intern, Rockwell Collins, North Carolina Agricultural & Technical State University6 7

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WSInternship Init iat ives

During fiscal year 2010, Priority One launched several new initiatives in response to the number of employers looking for quality interns, and the challenges they’ve experienced recruiting to the Cedar Rapids area. Cedar Rapids employers expect to hire over 700 interns during 2010.

SpringBreaking into a New Career

Instead of heading to Cancun or Key West, 20 students from Purdue University’s College of Technology spent their Spring Break in Cedar Rapids, touring employ-ers and learning about what life is like for young professionals in the Corridor. During their four-day stay, students toured General Mills, ADM, Rockwell Collins, Alliant Energy and Quaker Oats, networked with local Purdue alumni and ImpactCR members, and attended the SaPaDaPaSo St. Patrick’s Day Parade and a Rough Riders game. Plans are underway to expand the program to additional schools in 2011.

MyTernNow/MySummerNow

At the end of fiscal year 2010, Priority One launched a new web site focusing on internships and career pathing for 15 to 25 year-olds interested in the Corridor community. The site, MyTernNow.com, features internship listings, a searchable employer directory, apartment listings, and education and training opportunities, as well as information on the quality of life amenities in our area, such as art, culture, nightlife, and recreational offerings. The site is designed to engage students and help them get connected to our community, and will be an integral part of Priority One’s career fair strategy. Many employers are relying more heavily on Priority One to assist in marketing the Corridor community to college students. In conjunction with MyTernNow, Priority One launched the intern and new-hire engagement program MySummerNow in June 2010. The program featured free weekly social activities throughout the summer to encourage networking among interns and new-hires in the Cedar Rapids area. Over 180 interns from Rockwell Collins, AEGON USA, Van Meter Industrial, International Paper, Intermec, TrueNorth Companies, Shive-Hattery, Shuttleworth & Ingersoll and other companies throughout the Cedar Rapids area attended MySummerNow events

Pictured to the left (top to bottom): David Fischer, Intern, Rockwell Collins, North Dakota State University; Cassie Teeter, Intern, Rockwell Collins, University of Nebraska, Lincoln

“At Rockwell Collins, we recognize that our job is to not only sell interns on our company, but our communities as well. The right company and engaging work will bring young professionals to our area. An exciting community is what will keep them here. We are discovering that Generation Y not only recognizes the importance of networking, they are hungry for it! MySummerNow not only gave our co-ops and interns the opportunity to network with other Rockwell Collins student employees, but student employees within different companies and fields of work.”

Crystal Gray, Recruiting Specialists for Student Programs, Rockwell Collins

“The Purdue Spring Break trip allows the Cedar Rapids community to come together and show the next generation of business leaders what we’re all about. We can introduce them to the variety of businesses and careers available in Cedar Rapids and give them the opportunity to experience the social side of the community. This trip can become a foundation for bringing talented and motivated students into the area.”

rue Patel, Plant Manager, General Mills

“I never expected to have this much opportunity in Cedar Rapids. Priority One provides so much informa-tion about Cedar Rapids and events happening, as well as organizing events like watching the FIFA World Cup at the Field House. I wish every company and community was as generous as Rockwell Collins and Cedar Rapids in

providing opportunities for interns/co-ops. As an Engineering student, I look for internships with companies that interest me. I look to the communities to see if I would enjoy my career here. I would feel at home in Cedar Rapids.”

evan Andrist, Intern, Rockwell Collins, University of North Dakota

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Wo

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WSInternship Init iat ives

During fiscal year 2010, Priority One launched several new initiatives in response to the number of employers looking for quality interns, and the challenges they’ve experienced recruiting to the Cedar Rapids area. Cedar Rapids employers expect to hire over 700 interns during 2010.

SpringBreaking into a New Career

Instead of heading to Cancun or Key West, 20 students from Purdue University’s College of Technology spent their Spring Break in Cedar Rapids, touring employ-ers and learning about what life is like for young professionals in the Corridor. During their four-day stay, students toured General Mills, ADM, Rockwell Collins, Alliant Energy and Quaker Oats, networked with local Purdue alumni and ImpactCR members, and attended the SaPaDaPaSo St. Patrick’s Day Parade and a Rough Riders game. Plans are underway to expand the program to additional schools in 2011.

MyTernNow/MySummerNow

At the end of fiscal year 2010, Priority One launched a new web site focusing on internships and career pathing for 15 to 25 year-olds interested in the Corridor community. The site, MyTernNow.com, features internship listings, a searchable employer directory, apartment listings, and education and training opportunities, as well as information on the quality of life amenities in our area, such as art, culture, nightlife, and recreational offerings. The site is designed to engage students and help them get connected to our community, and will be an integral part of Priority One’s career fair strategy. Many employers are relying more heavily on Priority One to assist in marketing the Corridor community to college students. In conjunction with MyTernNow, Priority One launched the intern and new-hire engagement program MySummerNow in June 2010. The program featured free weekly social activities throughout the summer to encourage networking among interns and new-hires in the Cedar Rapids area. Over 180 interns from Rockwell Collins, AEGON USA, Van Meter Industrial, International Paper, Intermec, TrueNorth Companies, Shive-Hattery, Shuttleworth & Ingersoll and other companies throughout the Cedar Rapids area attended MySummerNow events

Pictured to the left (top to bottom): David Fischer, Intern, Rockwell Collins, North Dakota State University; Cassie Teeter, Intern, Rockwell Collins, University of Nebraska, Lincoln

“At Rockwell Collins, we recognize that our job is to not only sell interns on our company, but our communities as well. The right company and engaging work will bring young professionals to our area. An exciting community is what will keep them here. We are discovering that Generation Y not only recognizes the importance of networking, they are hungry for it! MySummerNow not only gave our co-ops and interns the opportunity to network with other Rockwell Collins student employees, but student employees within different companies and fields of work.”

Crystal Gray, Recruiting Specialists for Student Programs, Rockwell Collins

“The Purdue Spring Break trip allows the Cedar Rapids community to come together and show the next generation of business leaders what we’re all about. We can introduce them to the variety of businesses and careers available in Cedar Rapids and give them the opportunity to experience the social side of the community. This trip can become a foundation for bringing talented and motivated students into the area.”

rue Patel, Plant Manager, General Mills

“I never expected to have this much opportunity in Cedar Rapids. Priority One provides so much informa-tion about Cedar Rapids and events happening, as well as organizing events like watching the FIFA World Cup at the Field House. I wish every company and community was as generous as Rockwell Collins and Cedar Rapids in

providing opportunities for interns/co-ops. As an Engineering student, I look for internships with companies that interest me. I look to the communities to see if I would enjoy my career here. I would feel at home in Cedar Rapids.”

evan Andrist, Intern, Rockwell Collins, University of North Dakota

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indirect impact2 induced impact3 total impact4Direct impact1

StAte of the eCoNomy

In 2009, the Cedar Rapids economy continued to feel the effects of the national recession. However, despite the ongoing global financial crisis, companies like Go Daddy, RuffaloCody and LeanCor LLC expanded their workforce, creating new high quality jobs in our community. Whirlpool and Sign Productions were among local companies announcing significant capital investments this past year.

The unemployment rate increased from 2008 to 2009, but stayed below the state unemployment rate of 6.0% as well as the national unemployment rate of 9.3% over the same period. Though overall construction valuations fell again in 2009, the number of residential permits issued in Cedar Rapids saw a substantial increase. Retail sales in Linn County continued to climb as well, reaching an all time high of $3.5 billion.

2008 2009 Growth 2008 2009 Growth

Manufacturing Employment1 22,400 20,900 - 6.7% 13,655,340 12,444,560 - 8.9%

Non-Manufacturing Employment 117,700 116,400 - 1.1% 121,529,890 118,203,050 - 2.7%

Unemployment Rate 4.3% 5.7% + 1.4% 5.8% 9.3% + 3.5%

Resident Total Employment 139,900 138,800 - 0.8% 145,362,000 139,877,000 - 3.8%

Resident Civilian Labor Force 146,100 147,200 + 0.8% 154,287,000 154,142,000 - 0.1%

New Construction Valuations2 $141,846,798 $87,347,798 - 38.4% $1,072 billion $935 billion -12.8%

Single-Family Housing Permits 297 323 + 8.8% 575,600 441,100 - 23.4%

Single-Family Housing Valuations $31,034,501 $29,770,945 - 4.1% $110.6 billion $82.3 billion - 25.6%

Multi-Family Housing Permits 41 73 + 78.0 % 329,800 141,800 - 57.0%

Multi-Family Housing Valuations $9,749,758 $28,959,453 + 197.0% $30.9 billion $13.1 billion - 57.6%

Retail Sales 3 $3.1 billion $3.5 billion +12.9% $3,959 billion $3,672 billion - 7.2%

Note: The statistical data included in this report is one year in arrears.1Cedar Rapids MSA, 2Cedar Rapids City only, 3Linn County only

Cedar rapids mSA National

1 Direct Impact: the impact generated directly from the jobs created with the assistance of Priority One initiatives in FY 2009. 2 Indirect Impact: the changes in employment, income, and output (business sales) in various industry sectors of the local economy that supply goods and services to the companies

that have expanded.3 Induced Impact: the increased sales from household spending of the income earned on various supporting industry sectors of the local economy.4 Output: total value of all of the goods and services produced in an entity’s/region’s economy.5 Disposable Personal Income: Personal income less personal tax and nontax payments.6 Personal Consumption Expenditures: disposable personal income less interest, personal transfer payments & personal savings.7 Deposit Potential: personal savings rate less deposit leakage estimate with area turnover (reserve requirement ratio).

Source: Economic Strategy Center, Atlanta, Georgia

Jobs 881 305 334 1,520

Earnings $42,638,032 $11,983,336 $11,281,294 $65,902,662

Output $154,320,992 $39,393,764 $35,165,784 $228,880,540

The new earnings are estimated to generate:

Disposable Personal Income 5 $56,017,263

Personal Consumption Expenditures 6 $47,614,673

Deposit Potential for Area Financial Institutions 7 $16,805,179

Economic Impact of Priority One’s Accomplishments

The economic impact analysis quantifies the extent to which Priority One’s attraction, expansion and retention activities stimulate economic growth, generating employment, income and local business activity. Priority One’s economic development activities in fiscal year 2010 (September 1, 2009 – August 31, 2010) generated considerable economic impacts in the local economy. Priority One’s accomplishments for this time period include 16 “wins” representing 14 different companies. Of the total:

8 were expansions and attractions of businesses •located in the Cedar Rapids area

8 retentions • The total impact of Priority One’s economic development efforts is calculated based on the IMPLAN (IMpact analysis for PLANning) economic model customized to reflect Cedar Rapids’ economy. Below is a summary of the economic impact of Priority One initiatives in terms of jobs, earnings, output and personal expenditures attributed to Priority One’s investments in FY 2010.

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GoALS / ACComPLiShmeNtS

September 1, 2009 – August 31, 2010

recruitment of New Companies

Actual . . . . . . . . . 2

Goal . . . . . . . . . . 8

Assistance in expansion

Actual . . . . . . . . . 9

Goal . . . . . . . . . . 30

Business recruitment /expansion (By industry)

Bio-Processing/Food Ingredient . . .2

Logistics/Distribution . . . . . . . .2

Process Manufacturing . . . . . . . .4

Office/Professional . . . . . . . . . .3

jobs Created (By industry)

Bio-Processing/Food Ingredient . . .6

Logistics/Distribution . . . . . . 140

Process Manufacturing . . . . . . . 60

Office/Professional . . . . . . . . 669

Capital investment

Actual . . . . . . . $44,166,000

Goal . . . . . . . . $170,000,000

New job Creation

Actual . . . . . . . . 875

Goal . . . . . . . . 1,200

jobs with Salary At or Above $36,400*

Actual . . . . . . . . 76%

Goal . . . . . . . . . 50%

Average Salary for All Jobs = $48,422

* Average Salary in Linn County at Start of Priorities 2010

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GoALS / ACComPLiShmeNtS

Business Development as of August 31, 2010

Priorities to Date: January 1, 2006 – August 31, 2010Priorities to Campaign Goal: January 1, 2006 – December 31, 2010

recruitment of New Companies

To Date . . . . . . . . 18

To Date Goal . . . . . 37

Campaign Goal . . . . . 40

Assistance in expansion

To Date . . . . . . . . 60

To Date Goal . . . . 140

Campaign Goal . . . . 150

Capital investment

To Date . . . . . $1,249,433,000

To Date Goal . . .$793,333,333

Campaign Goal . . $850,000,000

New job Creation

To Date . . . . . . 5,715

To Date Goal . . . 5,600

Campaign Goal . . . 6,000

jobs with Salary At or Above $36,400*

To Date . . . . . . . 52%

To Date Goal . . . . 50%

Campaign Goal . . . . 50%

Average Salary for All Jobs = $41,226

* Average Salary in Linn County at Start of Priorities 2010

Business recruitment /expansion (By industry)

Bio-Processing/Food Ingredient . . 21

Food Processing . . . . . . . . . . .6

Logistics/Distribution . . . . . . . .8

Process Manufacturing . . . . . . . 19

Electronic Equipment Design . . . .6

Office/Professional . . . . . . . . . 14

Insurance/Financial . . . . . . . . . .2

Wind Energy . . . . . . . . . . . . .2

jobs Created (By industry)

Bio-Processing/Food Ingredient . 352

Food Processing . . . . . . . . . 208

Logistics/Distribution . . . . . . 284

Process Manufacturing . . . . . . 900

Electronic Equipment Design . . 955

Office/Professional . . . . . . . 2,337

Insurance/Financial . . . . . . . . 550

Wind Energy . . . . . . . . . . . 12914

BoArD of

D i r e C t or

S

roger StonePresident and Managing Partner/ Simmons Perrine Moyer Bergman P.L.C.

Gary StreitPresident/Shuttleworth & Ingersoll P.L.C.

Dan thiesChair/Eastern Iowa Airport Commission

jim tinkerRetired President Emeritus, Mercycare Service Corporation

theodore townsendPresident & CEO/St. Luke’s Hospital

*robert VerhilleGeneral Agent Amerus/ True North Companies

Brandt WorleyPresident /Worley Warehousing Inc.

*Advisory Council Member

tom AllerPresident/Interstate Power and Light Co., an Alliant Energy Co., Senior Vice President Energy Resource Development

Georg AnderlVice President Engineering & Operations/DuPont Danisco Cellulosic Ethanol (DDCE)

Pat BairdChairman/AEGON Insurance Group

Barry BoyerPresident & CEO/Van Meter Industrial, Inc.

Steve CavesRegional President /U.S. Bank NA

Don ChizekDirector of Operations/Quaker Foods & Snacks, A Division of Pepsico Inc.

jordan CohenVice President for Research and Economic Development/ The University of Iowa

ron CorbettMayor/City of Cedar Rapids

Linda LangstonChair/Linn County Board of Supervisors

mark LongChair/Priority One, President/ Wells Fargo Bank Cedar Rapids

Dave martinChair/Marion Economic Development Co. (MEDCO)

Shannon meyerPresident & CEO/Cedar Rapids Area Chamber of Commerce

*jim NikrantVice President/ Corridor Management Co LLC

Chuck PetersPresident & CEO/ Gazette Communications

Lon PluckhahnCity Manager/City of Marion

randy ramloPresident & CEO/United Fire Group

*tom reedRetired President and General Manager/Penford Products Co.

*jack evansPresident/The Hall-Perrine Foundation

Steve hammesManaging Director/INTEGRUF Consulting, LLC

Brad hartChair/Cedar Rapids Area Chamber of Commerce

*Don hatteryRetired Chairman/Shive-Hattery Inc.

tom haydenPresident/Shive-Hattery Group

*joe hladkyChairman of the Board/ Gazette Communications

*jim hoffmanRetired President/Allliant Energy Resources

Clay jonesChairman, President & CEO/ Rockwell Collins, Inc.

*Barbara KnappRetired Chair & CEO/ SCI Financial Group

Gary rogersCity Administrator/City of Hiawatha

Charles A. rohdePresident /King’s Material, Inc./ Dakota Red Corporation

ralph russellPrincipal and former CEO/Howard R. Green Company

*frank rydzewskiFaculty/Department of Marketing/ The University of Iowa

Dee BairdPresident /Priority One

Kyle SkogmanVice Chair/Priority One, President /Skogman Homes

john SmithPresident & CEO/ CRST International Inc.

mick StarcevichPresident / Kirkwood Community College

Dee BairdPresident

Dennis jordanVice President Economic Development

jeff rossateVice President Business Development

Allen mertaVice President Financial & Administrative Programs

Kari LammerDirector Workforce Initiatives

Kathleen PeggDirector Marketing, Communications & Research

Ashley taylorAdministrative Manager

jim SullivanManager Existing Business Services

BoArD of DireCtorS Priority oNe StAff

Design: Big Behr Design Co. • Photography: Fisheye • Printing: J&A Printing

Dee BairdPresident

Mark SeckmanPresident 2001–2010

B

oArD of

D i r e C t o

rS

roger StonePresident and Managing Partner/ Simmons Perrine Moyer Bergman P.L.C.

Gary StreitPresident/Shuttleworth & Ingersoll P.L.C.

Dan thiesChair/Eastern Iowa Airport Commission

jim tinkerRetired President Emeritus, Mercycare Service Corporation

theodore townsendPresident & CEO/St. Luke’s Hospital

*robert VerhilleGeneral Agent Amerus/ True North Companies

Brandt WorleyPresident /Worley Warehousing Inc.

*Advisory Council Member

tom AllerPresident/Interstate Power and Light Co., an Alliant Energy Co., Senior Vice President Energy Resource Development

Georg AnderlVice President Engineering & Operations/DuPont Danisco Cellulosic Ethanol (DDCE)

Pat BairdChairman/AEGON Insurance Group

Barry BoyerPresident & CEO/Van Meter Industrial, Inc.

Steve CavesRegional President /U.S. Bank NA

Don ChizekDirector of Operations/Quaker Foods & Snacks, A Division of Pepsico Inc.

jordan CohenVice President for Research and Economic Development/ The University of Iowa

ron CorbettMayor/City of Cedar Rapids

Linda LangstonChair/Linn County Board of Supervisors

mark LongChair/Priority One, President/ Wells Fargo Bank Cedar Rapids

Dave martinChair/Marion Economic Development Co. (MEDCO)

Shannon meyerPresident & CEO/Cedar Rapids Area Chamber of Commerce

*jim NikrantVice President/ Corridor Management Co LLC

Chuck PetersPresident & CEO/ Gazette Communications

Lon PluckhahnCity Manager/City of Marion

randy ramloPresident & CEO/United Fire Group

*tom reedRetired President and General Manager/Penford Products Co.

*jack evansPresident/The Hall-Perrine Foundation

Steve hammesManaging Director/INTEGRUF Consulting, LLC

Brad hartChair/Cedar Rapids Area Chamber of Commerce

*Don hatteryRetired Chairman/Shive-Hattery Inc.

tom haydenPresident/Shive-Hattery Group

*joe hladkyChairman of the Board/ Gazette Communications

*jim hoffmanRetired President/Allliant Energy Resources

Clay jonesChairman, President & CEO/ Rockwell Collins, Inc.

*Barbara KnappRetired Chair & CEO/ SCI Financial Group

Gary rogersCity Administrator/City of Hiawatha

Charles A. rohdePresident /King’s Material, Inc./ Dakota Red Corporation

ralph russellPrincipal and former CEO/Howard R. Green Company

*frank rydzewskiFaculty/Department of Marketing/ The University of Iowa

Dee BairdPresident /Priority One

Kyle SkogmanVice Chair/Priority One, President /Skogman Homes

john SmithPresident & CEO/ CRST International Inc.

mick StarcevichPresident / Kirkwood Community College

Dee BairdPresident

Dennis jordanVice President Economic Development

jeff rossateVice President Business Development

Allen mertaVice President Financial & Administrative Programs

Kari LammerDirector Workforce Initiatives

Kathleen PeggDirector Marketing, Communications & Research

Ashley taylorAdministrative Manager

jim SullivanManager Existing Business Services

BoArD of DireCtorS Priority oNe StAff

Design: Big Behr Design Co. • Photography: Fisheye • Printing: J&A Printing

Dee BairdPresident

Mark SeckmanPresident 2001–2010

424 First Avenue NECedar Rapids, Iowa 52401(319) 398-5317 phone(319) 398-5228 faxpriority1.com

Priority One 2009-2010 Annual Report

Documents

Transcript of Priority One 2009-2010 Annual Report