Business Retention Growing Greater Fort Dodge

Core Economic Development Strategies Business Retention and Expansion Business Attraction Community Development Core Economic Development Strategies

Why Business Retention? The Economic Stability and Growth of Greater Fort Dodge depends on the success of our existing employers Capitol Investment Job Growth Why Business Retention?

Partnered to implement Synchronist Prime City of Fort Dodge Greater Fort Dodge Growth Alliance Mid American Energy Iowa Economic Development Authority Partnered to implement Synchronist Prime

Goals of Partnership Build and Strengthen Relationships Assess and Address the needs/barriers of existing industries Assist industries with expansion projects in partnership with the GFDGA and IEDA Monitor changing market dynamics Information Source Goals of Partnership

Synchronist Interview Sections Product / Service Market Industry Management Workforce Technology Utility Service Quality of Life / Community Services Synchronist Interview Sections

Designed to Answer 6 Questions What is the Company’s… Value Growth Potential Orientation to Technology Risk of Downsizing/Relocating Level of Satisfaction with the Community Community Problems that Pose a Threat Any Untapped Marketing Opportunities? Designed to Answer 6 Questions

Removing local and statewide obstacles that prevent existing firms from remaining or increasing in operations Reduce the cost of doing business Improve business competitiveness Increase access to markets for business   Ultimate Goals

Ultimate Goals Increase markets for business Enhance Business infrastructure Identify problems that could cause employers to leave a community Identify Opportunities for expansion Maintain and Build Relationships Identify Support Services Ultimate Goals

Iowa is a leader in BR & E Programming 661 Companies Interviewed Use Data from Business Retention programs to initiate substantive change on a state level. 661 Companies Interviewed 169 Communities 61 Counties 53.3% Metro – 43.7% Non-Metro 2016 Best of Iowa Report

Aggregate Information is Benchmarked ANNUAL REPORT Growing Greater Fort Dodge 23 Interviews Aggregate Information is Benchmarked

Webster County Population: 36,829 Median Household Income: $42,408 Labor Force: 20,854 Unemployment Rate: 3.2% Gross Regional Product: $2.14B OVER THE LAST 5 YEARS… 15.5% Growth in Wage 1746 Jobs Webster County

A Company’s survival in today’s economy depends on keeping pace with the market through innovation and introduction of new products.

Results 94% Primary product is growing 64% Increasing market share Of the Companies Interviewed Locally… 94% Primary product is growing 64% Increasing market share 40% Anticipate new technologies will impact how they do business 65% State that overall company sales are INCREASING Results

Introduction of Products within the past 5 years IOWA 78% Greater Fort Dodge 80% Introduction of Products within the past 5 years

New Product/Service in the Next 2 Years

Plans to Expand in the Next 3 years 86% Would Expand 57% 43% Plans to Expand in the Next 3 years 86% Would Expand

Workforce Availability Availability has improved by 10% 2016 ~ 94% 2014 ~ 84% Workforce Availability

2016 Laborshed Analysis

Industries of the Employed

Occupational Categories of the Employed

Concentration

FAIR, GOOD & EXCELLENT

FAIR, GOOD & EXCELLENT

FAIR, GOOD & EXCELLENT