Business Retention & Expansion

The Corridor will develop the state’s premier business retention and expansion program, a major expansion of the current program to include multiple annual touch points for each targeted employer, an issue resolution-driven engine, and useful reporting capabilities. Background: Research shows that 70-80% of new jobs created come from existing businesses. It is a more efficient use of resources to take care of existing businesses than recruiting new.

Business Attraction & Entrepreneurship
The Corridor will create an environment that attracts high value new business, fosters entrepreneurship, and encourages job growth by emphasizing local area strengths, preparedness, and targeted marketing/recruitment to build North Iowa as a preferred location for business. Background: Attraction of new business and outside capital is vital to the continued expansion and diversification of the local economy.

Workforce Retention, Development, & Attraction
Current and projected workforce shortages clearly indicate the need to emphasize workforce as a major priority. Preparing our workforce to ensure North Iowa is fully prepared for the opportunities to come is essential to position the region for business expansion. Employers must have access to a quality, well-trained workforce, with an emphasis on worker attraction/retention, worker training/new skills, & career ed. Background: Iowa is experiencing extremely low unemployment rates, with North Iowa as low as 3.2%. Population also continues to decline, and the middle skills gap has led to a shortage of workers in high demand jobs.