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Regional Prosperity Strategy a Five-Year Economic Development Strategic Plan for North Iowa

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April 2018 REGIONAL PROSPERITY STRATEGY A FIVE-YEAR ECONOMIC DEVELOPMENT STRATEGIC PLAN FOR NORTH IOWA Working together to improve the lives of all North Iowans. VISION NORTH IOWA REGIONAL PROSPERITY STRATEGY ACKNOWLEDGMENTS TIP Strategies would like to thank the many individuals and organizations who contributed to the development of the Vision North Iowa Economic Development Strategic Plan. Your insight and expertise helped us build a better understanding of the North Iowa region’s assets and opportunities. We are especially grateful to the leadership of the Clear Lake Area Chamber of Commerce, Mason City Chamber of Commerce, and North Iowa Corridor EDC for their partnership, oversight, and investment in this important project. And a special thank you to the project steering committee and key stakeholders for devoting their time and input throughout the planning process. KEY PARTNER ORGANIZATIONS EXECUTIVE COMMITTEE • Cerro Gordo County • Robin Anderson, Mason City Chamber of Commerce • City of Clear Lake • Tim Coffey, Clear Lake Area Chamber of Commerce • City of Mason City • Chad Schreck, North Iowa Corridor EDC • Clear Lake Chamber of Commerce KEY STAKEHOLDERS • Clear Lake Tourism • Mayor Eric Bookmeyer, City of Mason City • North Iowa Corridor EDC • Mayor Pro Tem Travis Hickey, City of Mason City • Iowa Works • Mayor Nelson Crabb, City of Clear Lake • John Pappajohn Entrepreneurial Center • Mayor Pro Tem Mike Callanan, City of Clear Lake • Mason City Chamber of Commerce • Mayor Bill Schickel, City of Mason City • North Iowa Area Community College • Brad Barber, Cabin Coffee • United Way • Casey Callanan, Board of Supervisors • Various Community Groups • Steve Doerfler, Metalcraft • Visit Mason City • Dan Long, Mason City School District PROJECT STEERING COMMITTEE • Doug Gee, Clear Lake School District • Deb Blaser-Gretillat, NutriQuest • Mark Hewitt, Clear Lake Bank & Trust • Tom Drzycimski, Cerro Gordo County • Lindsey James, Visit Mason City • Tim Esbeck, MBT Bank • Tom Lovell, Clear Lake Tel • Scott Flory, City of Clear Lake • Dave Mayberry, Globe Gazette • Kelly Hansen, POET Biofuels • Steve Noto, Stoney Creek Hospitality • Kristy Sagdalen King, Bergland + Cram • Jodee O’Brien, United Way • Jay LeFevre, First Gabrielson Agency • Marti Rodamaker, First Citizens Bank • Laurie Lietz, Surf Ballroom • Vickie Snyder, Dean Snyder Construction • Vijay Muralidaran, Assa Abloy Graham • Chris Van Norman, McKesson Corp. Manufacturing • Jeff Nichols, One Vision • Tim Putnam, John Pappajohn Entrepreneurship Center • Gary Schmit, Henkel Construction • Steve Schulz, North Iowa Area Community College • Brent Trout, City of Mason City • Dan Varnum, Mercy Health System ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | I VISION NORTH IOWA REGIONAL PROSPERITY STRATEGY SPONSOR ORGANIZATIONS CLEAR LAKE AREA CHAMBER OF COMMERCE 205 Main Avenue Clear Lake, IA 50428 PH: 641-357-2159 www.clearlakeiowa.com MASON CITY CHAMBER OF COMMERCE 9 North Federal Avenue Mason City, IA 50401 PH: 641-423-5724 www.masoncityia.com NORTH IOWA CORRIDOR EDC 9 North Federal Mason City, IA 50401 PH: 641-423-0315 www.northiowacorridor.com CONSULTING FIRM TIP STRATEGIES, INC., is a privately held Austin and Seattle-based economic development consulting firm committed to providing quality solutions for public- and private-sector clients. Established in 1995, the firm’s primary focus is economic development strategic planning. CONTACT CONSULTING TEAM TIP Strategies Jeff Marcell, Project Lead 2905 San Gabriel Street, Suite 205 Senior Partner Austin, TX 78705 Ashton Allison, Project Manager PH: 512-343-9113 Consultant FAX: 512-343-9190 www.tipstrategies.com ECONOMIC DEVELOPMENT STRATEGIC PLAN PAGE | II VISION NORTH IOWA REGIONAL PROSPERITY STRATEGY CONTENTS EXECUTIVE SUMMARY ................................................................................................................................................................................ 1 ASSETS AND OPPORTUNITIES ............................................................................................................................................................ 1 CHALLENGES AND RISKS .................................................................................................................................................................... 1 STRATEGIC ACTION PLAN ........................................................................................................................................................................ 5 PURPOSE STATEMENT ......................................................................................................................................................................... 5 VISION STATEMENT ............................................................................................................................................................................... 6 GUIDING PRINCIPLES ........................................................................................................................................................................... 6 GOAL 1. BUILDING A REGIONAL COMMUNITY................................................................................................................................. 7 GOAL 2. PEOPLE, PLACE, AND PROSPERITY .................................................................................................................................12 GOAL 3. INNOVATION AND ENTREPRENEURSHIP ...................................................................................................................... 17 GOAL 4. BUSINESS DEVELOPMENT AND MARKETING ..............................................................................................................21 APPENDIX 1. ORGANIZING FOR IMPLEMENTATION ......................................................................................................................... 27 APPENDIX 2. PERFORMANCE METRICS ............................................................................................................................................ 40 APPENDIX 3. ECONOMIC PERFORMANCE DASHBOARD ............................................................................................................... 41 APPENDIX 4. ECONOMIC ASSESSMENT .............................................................................................................................................42 METHODOLOGY.....................................................................................................................................................................................42 KEY FINDINGS ...................................................................................................................................................................................... 43 SWOT ANALYSIS ................................................................................................................................................................................. 44 DEMOGRAPHICS, EDUCATION, AND WORKFORCE ....................................................................................................................46 ECONOMIC ENVIRONMENT ............................................................................................................................................................... 53 COMPETITIVE ANALYSIS ..................................................................................................................................................................... 61 APPENDIX 5. TARGET INDUSTRY ANALYSIS ...................................................................................................................................... 65 APPROACH ............................................................................................................................................................................................ 65 ADVANCED MANUFACTURING ........................................................................................................................................................ 67 VALUE-ADDED AGRICULTURE AND FOOD PROCESSING ........................................................................................................ 70 HEALTHCARE........................................................................................................................................................................................ 73 TRANSPORTATION AND WAREHOUSING ...................................................................................................................................... 76 APPENDIX 6. ECONOMIC DEVELOPMENT NETWORK ANALYSIS ................................................................................................. 79 METHODOLOGY AND FRAMEWORK ................................................................................................................................................ 79 ECONOMIC DEVELOPMENT ACTIVITIES ........................................................................................................................................ 79 OPPORTUNITY AREAS.........................................................................................................................................................................82 APPENDIX 7. COMMUNITY PERCEPTION SURVEY ........................................................................................................................... 83 APPENDIX 8. COMMUNITY VISION AND VALUES WORKSHOPS ..................................................................................................
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