HomeMy WebLinkAbout10/07/1985 Economic Development Committee
October 7, 1985
7:45 p.m.
City Hall Council Chambers
Members Present: Chairperson Penaluna, Dowie, Seeber, Wright, Getty,
Lichty, Klinger, and Mayor Bowers.
Chairperson Penaluna reported on an opportunity for the City of
Waterloo to join the Community Development Trading Group (CDTG), a
consortium of U.S. cities with the common goal of retaining and
expanding local employment opportunities. Efforts are concentrated
on increasing export sales of the City's small and medium-sized com-
panies. Examples of services provided by CDTG are sourcing for
worldwide demand, product searches, supplier assessments, coordinat-
ing orders, financing and expediting trading orders, trade company
networking and referrals, foreign investment consulting and U.S.
Government liaison services. An annual fee of $15,000 is charged for
these services. Mr. Penaluna asked that the Committee review the
proposal and attachments he distributed. U.S. cities which are part
of the network include: Beaumont, Texas; Elizabeth, New Jersey;
Fall River, Massachusetts; Fort Wayne, Indiana; Grand Rapids,
Michigan; Holyoke, Massachusetts; Huntsville, Alabama; New Bedford,
Massachusetts; Rockford, Illinois; St. Paul, Minnesota; Tacoma,
Washington; and Warwick, Rhode Island.
A citizen asked that the City not duplicate the efforts of the
Northeast Iowa Trade Council or Iowa Development Commission.
Jim Lawrence, President of the Waterloo Chamber of Commerce, stated
that they are willing to further investigate the proposal as pre-
sented. Briefly, he felt that the Group would compliment existing
activities and not be duplicative.
Mr. Penaluna asked that the Committee consider the proposal and meet
again in two (2) weeks to make a formal decision on submission of an
application.
With no further business, the meeting was adjourned.
Larry P. Burger
City Clerk/Auditor