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Home My WebLink AboutCouncil Packet - 5/14/2018 Council Work Session May 14, 2018 Time indicated below Harold E. Getty Council Chambers Roll Call. Approval of Agenda, as proposed or amended. 4:40 p.m. Update from the Greater Cedar Valley Alliance and Chamber. Submitted By: Mayor Quentin Hart ADJOURNMENT Kelley F elchle City Clerk CITY OF WATERLOO Council Communication Update from the Greater Cedar Valley Alliance and Chamber. City Council Meeting: 5/14/2018 Prepared: REVIEWERS: Department Reviewer Action Date Mayor()ffice 1 ellellipe, Keiii%y Approved 5/9/2018 ... 1-05 11'M. ATTACHMENTS: Description Type 1..Ipaadte Paack.et 13aacpwp:a Material SUBJECT: Update from the Greater Cedar Valley Alliance and Chamber. Submitted by: Submitted By: Mayor Quentin Hart Recommended Action: Summary Statement: Expenditure Required: Source of Funds: Policy Issue: Alternative: Background Information: G R E A T F R C:E A�Z r ALHACF LC' H A M B I'- R RE. PART OF SOMETHING GREATER "I HL CLDAK VALLLY OF IOWA Waterloo City Council Work Session —May 14, 2018 Cary Darrah Acting CEO Wes James President,TechWorks Campus Lisa Skubal Vice President, Economic Development Bob Smith Jr. Greater Cedar Valley Alliance & Chamber, Board Chair Agenda 1. Opening Remarks B. Smith Jr. 2. External Marketing & Business Growth L. Skubal 3. Talent Initiatives L. Skubal 4. TechWorks W. James 5. Closing Remarks C. Darrah 360 Westfield Ave,Suite 200,Waterloo, 1A 50701 * Ph: (319) 232-1156 ♦ Fax: (319)233-4580 www.cedarvalleyalliance.com Greater Cedar Valley Alliance & Chamber May 2018 Update Economic Development Services & Prospects •'• Projects: o As of May 1, 2018 there were 29 opportunities external and existing opportunities for the City of Waterloo: a) Potential of 1,185 new jobs; b) Potential of New Capital Investment of$261.69 million dollars; c) 23 represented external opportunities for the City of Waterloo; d) 6 represented existing opportunities for the City of Waterloo; e) 5 projects have been completed. o GCVAC successfully assisted with Crystal Distribution, Tyson Foods and Advance Heat Treat expansions along with supported the successful new location of Productive Resources Tech 1 of the Cedar Valley TechWorks Campus. - 257 total jobs created with an average weighted wage rate of$18.40/hr.; - $41,987,923 million dollars new capital investment; - 284,800/sf of new construction; - 18,250/sf of existing space renovated; - $3,630,250 million dollars of state business incentives awarded. o Working with an external prospect since August 2015 with locating a value added production line in Waterloo. Project on hold due to market conditions. o Working with secondary project considering Waterloo; company is completing site due diligence. Project "on pause" for an undetermined period. 360 Westfield Ave,Suite 200,Waterloo, IA 50701♦ Ph: (319) 232-1156 ♦ Fax: (319)233-4580 www.cedarvalleyalliance.com External Marketing ❖ Completed a Midwest Prospecting initiative the first half of 2018 - Scope of Prospecting Initiative: ✓ Company with a plan for expansion/relocation (12 to 36-month timeline preferred) ✓ Industry Sectors: Advanced Manufacturing with focus on food processing and 3D printers, end user data centers, logistics and information technology. ✓ Goal: 6-8 project leads/meetings or conference calls. - Deliverable: • Total Number of Companies in Data Set: 964 • Number of contact attempts inclusive of telephone & emails: 4,726 • Total project man-hours: 345 hours • 8 leads w/meetings or conference calls Average Lead Size: Employees— 147 Company Annual Revenue - $21.2 million (excludes 1 lead as they are a Fortune 100 company and noting revenue would skew average) ❖ 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. Represented the space to a recent lead that visited the space in April 2018. 360 Westfield Ave,Suite 200,Waterloo, IA 50701♦ Ph: (319) 232-1156 ♦ Fax: (319)233-4580 www.cedarvalleyalliance.com Business Interviews "Industry Insights and Talent Surveys" Data from the existing business interview program have been compiled and report published. The aggregate data will help GCVAC, cities, utilities and other entities understand emerging trends with existing business to adjust programming as the needs of the existing businesses change. A companion "Talent" Survey with existing businesses was conducted and data compiled and interpreted. Report is being finalized. Industries covered include: Manufacturing, Health Care and Information Technology. This will data will help us adjust our programming for talent recruitment and retention also aiding lower and higher education with occupational trends. Some information has already been shared through presentations. Talent Connect — Workforce Development Initiatives ❖ GCVAC is currently updating the Live The Valley website and will be completed the first week of May. b jjp..: �,ov t eva.�.O.�. ..L,cr,!�o ❖ GCVAC's livethevalley Facebook promotes job openings in Waterloo and the Cedar Valley along with the cultural amenities and some of the brags which have been attributed to Waterloo. GCVAC engages in paid promotion to select geographic areas and demographics with these Facebook posts. ❖ Economic Inclusion Toolkit- GCVAC's Economic Inclusion Committee (formerly Diversity and Inclusion) is an online toolkit for existing businesses looking for best practices for diversity and inclusion in the workplace. Best practices content is reviewed monthly with new content regularly. Best practices were contributed by Omega Cabinet/Master Brands, Hawkeye Community College, Waterloo Schools, Unity Point, Manpower among others. Ifs:/ ww cedary IIIg.lpa.n ec r/..................................lll� t .L. : ❖ GCVAC recently signed on to the Technology Association of Iowa's "The Iowan Project". The Iowan Project is an initiative to gather together the hundreds of thousands of Iowa expatriates into one place to promote the technology jobs available in Iowa. This platform gives GCVAC has an opportunity to promote Waterloo's quality of life and IT job opportunities that are available across all industry sectors (manufacturing, healthcare, professional services, information technology). The early adopters in this project are: Iowa Economic Development Authority, Greater Cedar Valley Alliance & Chamber, Des Moines Partnership, and West Des Moines. I .t.tis;./lii.owangirc�U �Lcor�. 360 Westfield Ave,Suite 200,Waterloo, IA 50701♦ Ph: (319) 232-1156 ♦ Fax: (319)233-4580 www.cedarvalleyalliance.com TechWorks Campus ❖ Marriott Courtyard Hotel open and operating above projections ❖ Deere Training Center in hotel under construction— projected opening Fall '18 ❖ Hotel restaurant and pub projected opening late summer '18 ❖ Interest in surrounding out lots has increased —2 prospects pending ❖ Tech I elevator renovation to begin summer '18 ❖ UNI Additive Manufacturing Center to expand and lease entire 1st floor ❖ New lease with engineering firm - Productive Resources 3rd floor with plans to expand in 6-12 months ❖ Start-up additive manufacturing company occupying 3rd floor lab 360 Westfield Ave,Suite 200,Waterloo, IA 50701♦ Ph: (319) 232-1156 ♦ Fax: (319)233-4580 www.cedarvalleyalliance.com 1 � r r 4 alb► ";"' / / /iii,✓i i iiil//////�/i i�ij� /��j/ / / ��//// v .V. 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