1. Business Retention Growing Greater Fort Dodge

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

3. 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?

4. 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

5. 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

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

7. 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

8. 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

9. 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

10. 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

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

12. 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

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

14. 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

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

16. New Product/Service in the Next 2 Years

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

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

19. 2016 Laborshed Analysis

20. Industries of the Employed

21. Occupational Categories of the Employed

22. Concentration

23. FAIR, GOOD & EXCELLENT

24. FAIR, GOOD & EXCELLENT

25. FAIR, GOOD & EXCELLENT