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Home My WebLink About05/08/2017Council Work Session May 8, 2017 Time indicated below Harold E. Getty Council Chambers Roll Call. Approval of Agenda, as proposed or amended. 4:05 p.m. Greater Cedar Valley Alliance and Chamber Semi -Annual Update. Submitted By: Mayor Quentin Hart ADJOURNMENT Kelley Felchle City Clerk CITY OF WATERLOO Council Communication Greater Cedar Valley Affiance and Chamber Semi -Annual Update. City Council Meeting: 5/8/2017 Prepared: 4/27/2017 REVIEWERS: Department Reviewer Action Date Mayor Office Higby, Nancy Approved 4/27/2017 - 11:13 AM ATTACHMENTS: Description Type D May 2017 Report Backup Material D Agenda May 2017 Backup Material SUBJECT: Submitted by: Recommended Action: Summary Statement: Expenditure Required: Source of Funds: Policy Issue: Alternative: Background Information: Greater Cedar Valley Affiance and Chamber Semi -Annual Update. Submitted By: Mayor Quentin Hart Economic Development Services & Prospects — May 2017 Update ❖ Projects: o As of May 3, 2017 there were 35 active projects. - 33 represented external and existing opportunities for the City of Waterloo: a) Potential of 3,693 new jobs; b) Potential of New Capital Investment of $106.5 million dollars; c) 25 represented external opportunities for the City of Waterloo; d) 8 represented existing opportunities for the City of Waterloo; e) 2 prospect visits since January 2017 with 5 total from July 1 2016 - May 1, 2017; o Working with an external prospect since August 2015 with locating a value added production line in Waterloo. Company is doing necessary site due diligence on the Waterloo site. Board of Director decision planned for fall 2017/ City and GCVAC staff working closely with Company officials on a frequent basis for since the beginning of the year. o 2 external prospects visited Waterloo to review sites/buildings under consideration. One project represents a third visit and the first visit for the secondary company on April 28, 2017. o Completion of the State of Iowa's Certified Site Program awarded end of December 2016 for Waterloo's South Business Park. Announcement of Certification expected by the end of 2016. External Marketing ❖ February 2017 through May 1, 2017— 750 calls to 250 c -level executives globally generating conversation with 63 companies with 4 of those companies in process of being vetted for active expansion projects. An additional 250 companies are being filtered for direct contact to identify expansion plans. ❖ January 16-18, 2017 — 10 site selection consultants meetings occurred in Chicago, IL. Companies included leading site selection companies representing domestic and global clients. Iowa was seen generally by the consultants as low risk. Shared with the consultants information on the South Waterloo Business Park, Industrial Parks and OCWEN space. Interest was generated from a data center consultant in the South Waterloo Business Park. ❖ May 15-19, 2017 — Atlanta Call Trip — Currently scheduling appointments with site selection influences as of this writing approximately 5 appointments scheduled. GCVAC expects to have 8-10 meetings. ❖ June 18-20, 2017 — Select USA — Foreign Direct Investment Trade Show lead by the Department of Commerce/US International Trade Administration to connect international companies with economic development officials from the United States to discuss investment and expansion plans. While investment deals can take months and years to mature, international companies that participated have announced nearly $800 million of investment with over 2,000 jobs created in the U.S. ❖ In coordination with local and national brokers, GCVAC continues to marketing the 75,000/sf OCWEN space to companies outside of the Cedar Valley and will continue to promote the property's availability through GCVAC's external marketing to companies and site selection influences. These efforts overlap with other lead generation initiatives and ongoing relationships with site selection consultants and national brokers who's client base may be a good candidate for the OCWEN space. Staff has drafted a specific campaign to further promote office space in Waterloo over 10,000/sf. Start -Up and Early State Businesses ❖ GCVAC continues to support the entrepreneur -driven efforts through supporting the co -working space in ID8's building. GCVAC will continue to foster a culture & environment that encourages new innovation and business growth for existing Cedar Valley businesses and entrepreneurs. Talent Connect — Workforce Development Initiatives ❖ GCVAC is currently working with Waterloo and Cedar Valley companies to develop an accelerated software development training curriculum. This will build a supply of future IT workforce to feed these growing businesses in Waterloo and the Cedar Valley. It will serve as a recruitment tool to encourage new business locations in Waterloo and the Cedar Valley. ❖ Sell the Cedar Valley — Event was held on May 9, 2017 - 36 attendees' registered as of May 2, 2017. The "Sell the Valley" event provided information and material to help human resource managers, recruiters and others better recruit and retain talent in the Cedar Valley. Held in partnership with GCVAC's community affiliates which includes the Waterloo Convention and Visitors Bureau and Main Street. Community Development ❖ Leader Valley coaches were in Salt Lake City in April for facilitator certification ❖ 7 -Habits training was provided in April for 60 local business leaders ❖ The Regional Leader in Me Symposium is scheduled for May 10-12 drawing 200 educators throughout the Midwest to the Cedar Valley for training. Many local Leader in Me schools will be featured and provide testimonials on the transformation of their school culture ❖ The 8 month 2016-17 Cedar Valley Leadership Institute will wrap up May 24th graduation 36 emerging leaders representing 27 area businesses TechWorks Campus ❖ TechWorks/FDP site improvements underway in area surrounding both Tech 1 and Tech 11 (hotel) ❖ Signage locations have been determined and some installed for wayfinding to the Greater Cedar Valley Alliance & Chamber office ❖ Solar canopy for the parking lot in front of Tech I1 fully designed and ready to install as soon as other site improvements complete ❖ Solar array will provide enough energy for hotel use and possibly some for Tech 1 use Tech I ❖ GCVA moved into 6000s.f. on 2nd floor ❖ UNI Metal Casting Center has expanded an additional 1200 s.f. in north portion of Tech 1 ❖ Natural Soy Products have signed lease and moved into 600s.f. lab on 3rd floor with intentions to grow into additional space in Tech 1 ❖ Lease preparation underway for tenant on 3rd floor intending on occupying 8000 s.f. in Fall 2017 ❖ Partial roof repair required to protect building and tenants. Construction to begin early summer ❖ Visit to Youngstown Business Incubator (voted best biz incubator in the country) —in trip resulted future partnership to help TechWorks and UNI investigate an advanced manufacturing incubator Tech 11 ❖ Exterior and interior construction fully underway and according to projected timeline ❖ Marriott Courtyard to be open in summer of 2017 ❖ Hotel Manager has been named — Kim Degood who recently opened the Marriott Courtyard in Green Bay WI and previously opened other Marriott properties throughout the midwest VILWLEY ALLIANCE & CHAMBER BE PART OF SOMETHING GREATER THE CEDAR VALLEY OF IOWA Waterloo City Council Work Session —May 8, 2017 Sue Armbrecht Greater Cedar Valley Alliance & Chamber, Board Chair Steve Dust CEO Wes James Vice President, TechWorks Campus Lisa Skubal Vice President Economic Development Agenda 1. Opening Remarks 2. External Marketing & Business Growth 3. Community Development & TechWorks Campus Update - Design Center and Solutions Center 4. Closing Remarks S. Dust S. Armbrecht L. Skubal W. James 360 Westfield Ave, Suite 200, Waterloo, IA 50701 ♦ Ph: (319) 232-1156 ♦ Fax: (319) 233-4580 www.cedarvalleyalliance.com