Financial Performance Board of Directors Sustaining and Contributing Members Executive Committee Members that contribute on an annual basis. Development Corporation of Austin Chair Kelly Wadding, President, Quality Pork Processors, Inc Sustaining Members Bronze – $500+ Individual Contributors – $100+ Platinum – $5000+ * Austin Daily Herald Dave Crandall 2014 2013 2012 Treasurer Steve Thorson, Principal, Clifton Larson Allent LLP * Austin Housing & * Fox Electric Dan Donnelly Vice Chair Geoff Smith, General Manager, IBI Data Redevelopment Authority * Freeborn-Mower Cooperative John Garry * Austin Utilities Services Steve Thorson Assets 3,870,000 4,490,000 4,980,000 Secretary Mark Nibaur, Austin Utilities General Manager * City of Austin * Games People Play Liabilities (2,050,000) (2,180,000) (2,830,000) Scott Aakre, Vice President, Corporate Innovation and * Hormel Foods Corporation * M.J. Oconnor Founding Members Equity 1,820,000 2,310,000 2,150,000 New Product Development, Hormel Foods Corporation * The Hormel Foundation * Palleton of MN * Austin Ready Mix Concrete Co. Along with those previously designated, the following Founding Members Megan Burroughs, Junior Partner, Adams, Rizzi and Sween Gold – $2500+ Smidt Companies, Inc. initially contributed $5000 or more to help launch DCA. Public Support 110,000 130,000 160,000 * Akkerman, Inc. * Smyth Companies Revenues 90,000 530,000 530,000 Board Members Eastwood Bank * Worlien Funeral Home * Anderson, Curt * Kolas Nick * US Bank * Anderson Memorials, Inc. * Management Art, Inc. Expenses (550,000) (500,000) (480,000) Maynard Akkerman Owner, Akkerman Inc. Contributing Members– $250+ * Ankeny Mini-Marts * Minnesota Freezer Warehouse Impairment Loss (140,000) - - Glenn Baker Owner, McFarland Truck Lines, Inc. Silver – $1000+ * Accentra Credit Union * Astrup (Sterling) Drug, Inc. * Mower County Commissioners * Austin Education Association * Nace, Laurence Paul Baessler Community Market President, US Bank * Baudler Law Office * Adams, Rizzi & Sween, P.A. Change in Net Assets (490,000) 160,000 210,000 * Austin Health Insurance – * Nordin, Richard Roger Boughton Council Member, Austin City Council * CliftonLarsonAllen * AdvisorNet Financial Mike Ruzek * Oak Park Mall George Brophy RSP Architects, ltd. and Former DCA President/CEO * Cooperative Response Center * Austin Chamber of Commerce * Austin Ready Mix Concrete Co. * Ondov, Ray Austin Community Charitable Fund David Clasen Owner, Clasen Jordan Mortuary * Damel Corporation, Inc. Cedar Valley Services * Austin Veterinary Clinic * Overby Orthodontics Mark Coffey Vice President, Affiliated Business Units, Refrigerated * Davis, Thoen, Kramer & Associates * Clasen-Jordan Mortuary 2014 2013 2012 * Brick Furniture Store – Austin * Paulsen Architectural Design, Inc. Foods, Hormel Foods Corporation * First Farmers & Merchants Bank Dolan’s Landscaping * City Concrete Co. * Reeve Chiropractic Clinic Assets 260,000 310,000 250,000 Gail Dennison Director of Development and Public Relations, Freeborn County Co-Operative Oil Co. * Harty Mechanical, Inc. * Elrod & Green, DDS * Rizzi, Steve The Hormel Institute * Fuhrman Real Estate * Heartman Insurance Liabilities (60,000) (30,000) (60,000) * Flack, Rich * Schammel Electric, Inc. Steve Drennan President, First Farmers and Merchants Bank * Hoversten, Johnson, Beckmann & * Holiday Cars Equity 200,000 280,000 190,000 * Greenman Heating & Refrigeration * Shopko-Austin Sandy Forstner Executive Director, Austin Area Chamber of Commerce Hovey, LLP * Home Federal Bank * Hanson Tire Service * Southeast Minnesota Association - - - Kevin Kestner President, Kestner Electric * IBI Data * The Hormel Institute * Hy-Vee Food Store of Realtors Jim Krueger President/CEO, Freeborn Mower Cooperative Services * The Joseph Company, Inc. * KAAL TV Revenues 180,000 350,000 80,000 * JD Driver Ltd. * Sween, Paul Jerry McCarthy Chair, Austin Port Authority Knutson Construction Co. * Kestner Electric Expenses (260,000) (260,000) (90,000) * Jones Cabinets * Torgerson Properties – Austin Charles Moline President, AdvisorNet Financial * Mayo Clinic Health Systems-Albert * Mayer Funeral Home * KAUS Radio * TradeExpos, Inc. Change in Net Assets (80,000) 90,000 (10,000) Steve Murley Vice President, Bremer Bank Lea & Austin * Potach & Mitchell Dental Clinic, PA * KSMQ Television * USEMS, Inc. Rod Nordeng Vice President of Operations, Mayo Clinic Health System, * McFarland Truck Lines, Inc. * Riverland Community College * Kane & Johnson Architects * Wells Fargo Austin & Albert Lea * Quality Pork Processors, Inc. * State Farm Insurance, Greg Meyer Lance Pogones Owner, Turtle Creek Construction RSP Architects, LTD * Sterling State Bank * Founding Members that have Development Corporation of Austin The Development Corporation of Austin (DCA) is a 501c6 Mike Tapp President, Tecstra Systems Tecstra contributed at least $5000 since Two Thousand Fourteen ⎜ Annual Report nonprofit organization. Revenue is from DCA members, public Nathan Toland Owner, Holiday Cars of Austin Winona Heating & Ventilation DCA was founded. entities, lease revenue and grants. The Austin Community Carter Wagner President, The Joseph Company, Inc. Charitable Fund (ACCF), a 501c3 charitable organization, is Credit Committee Staff a supporting organization of DCA. A portion of ACCF funds John Garry Alice Holst 329 N. Main, Suite 106-L Dave Forman Attorney, Baudler, Maus & Forman, LLP Executive Administrative Assistant Austin, MN 55912 are restricted to Vision 2010 activities and operations. Both Barry Irish President, Sterling State Bank President/CEO E-mail: [email protected] E-mail: [email protected] T:507-433-9495 organizations are independently audited annually. Doug Nuckolls Senior Vice President, First Farmers and Merchants Bank F: 507-433-9470 It has been a busy and These visits provide an opportunity to articulate DCA’s A primary DCA focus area in 2015 2014 Highlights productive first year as priorities, gain member feedback and secure financial Small Business Development Center Helps is to promote Austin as a place for chairman of the DCA commitments to keep us moving forward. companies considering relocation Advance Small Businesses and Entrepreneurs • Craig Clark was hired as the new Austin City Administrator and Executive committee. We and expansion. A 2014 experience has advocated for the City and DCA to work together to expand have gone about setting Many thanks to Board members like Rod Nordeng from Mayo provided valuable insights regarding economic development. priorities, planning and Clinic Health System, Albert Lea and Austin, for example, for attracting companies to our In 2014 the DCA partnered with the Austin Chamber, DCA received 50 hours of SBDC financial support for the garnering the support of helping open doors and facilitating conversations. We have community, as well as establishing Riverland Community College and SCORE to participate fourth quarter of 2014 and has secured 100 additional • DCA Executive Committee Chair Kelly Wadding’s leadership DCA members. asked members to step up and help us achieve our goals a big-picture framework for DCA to in the MnSBDC Network by establishing Small Business hours for 2015. DCA serves as a starting point, along in spearheading an outreach project to increase member through increased support. Gratefully, many members have. follow. Development Center (SBDC) services in Austin. with the SBDC office, and routes people to the right contributions has generated additional revenue and will DCA’s mission has resources. continue to do so into the future. always been to I also thank the Executive Committee comprised of Steve Austin’s proposal was a close second The need for these services were identified by Vision aggressively support Thorson, Geoff Smith, Scott Aakre, Megan Burroughs and to attract “Project Windmill,” a 164 2020 committees, Business Friendly Environment and Resources include consultants like former DCA President • In Austin, DCA (and the Austin Port Authority) sold the new and existing Mark Nibaur for their vision, their leadership and their John Garry President/CEO employee, Fortune 100, distribution Downtown Destination. SBDCs offer no-cost assistance and CEO George Brophy who has worked with numerous Robinson Building at a loss. However, this sale paved the way industrial enterprises commitment to strengthening DCA to advance Austin. center. Although we were not to small businesses and aspiring entrepreneurs by businesses in the areas of business planning, financing for the new SPAM Museum in downtown Austin and supported for the economic benefit selected as the site, this proposal Kelly Wadding qualified professionals. and location. Other assistance providers include SCORE, Drapery Services of Austin and MedCity Mobility in relocating to Chairman of Austin and Greater Lastly, thanks to John Garry and Alice Holst for their tireless put us on the economic development map with site selectors and the Southern Minnesota Initiative Foundation and improved facilities. Mower County. dedication to DCA and our community. I’m looking forward to State of Minnesota leadership and assisted us in developing a Previously, SBDC services had not been offered in Austin. Riverland Community College faculty and staff. Our new five-year plan has established a roadmap to guide working with them, the Board, our members and new entities distinct, competitive reputation as a place for business. Local small businesses and entrepreneurs were often • In Dexter, DCA owns a high-quality industrial building along our efforts by focusing on three key areas: and partners over the upcoming year. We are just referred to a nearby SBDC service location in Albert Lea, I-90 that will ultimately prove a terrific economic development getting started! We know Austin can compete for larger projects and offer Owatonna and Rochester or to the local SCORE Chapter. SBCDs can identify opportunities, increase asset in jobs and expanded tax base for Mower County and 1. Promoting Austin as a place for companies significant incentive packages. In addition to some financial fire (SCORE will continue to be a key resource to small Dexter. considering relocation and expansion. profits and provide greater stability and power and shovel-ready sites that we can bring to projects, we 2015 Priorities businesses.) 2. Business retention and expansion assistance long-term growth for companies. are becoming a truly distinctive rural small city. So much has In closing, thank you for the commitment of our Board, our for local companies. 1. Sell or lease the DCA-owned Dexter Building happened in Austin, so much is underway…Hormel Foods, Hormel SBDC services typically include assisting with: membership and our partners including: the Chamber of 3. Commercialization and innovative business growth 2. Add staff to assist with marketing and potential Institute and the Hormel Foundation, Vision 2020 initiatives, state- Commerce, the City of Austin, the Port Authority, the Austin HRA, in bio science, agriculture and technology. expansion projects • business plans of-the-art health care, growing schools that have both public and Riverland Community College, the Southern Minnesota Initiative 3. Create new marketing materials, launch a new Web site • manufacturing charitable support, an increasingly vibrant downtown. Our “brag” Foundation, Mower County and the State of Minnesota. In We have turned to our DCA membership to fuel our plans and increase marketing activities • financial packaging and lending story is not only very impressive – it is very real. 2015 we look forward to continuing our collaborative efforts to through an outreach project aimed at increasing member 4. Establish a new 501c3 nonprofit eligible for financial • exporting and importing support advance economic development in Austin. giving. Since November of 2014, DCA President/CEO John support from The Hormel Foundation • disaster recovery While 2014 presented some financial challenges, new Garry and I have made personal visits to more than 30 • procurement and contracting aid developments in Austin and future development in Dexter align members and will continue connecting throughout the • market research services well with the purpose of DCA and position us for success in 2015. next year. Financial Performance Board of Directors Sustaining and Contributing Members Executive Committee Members that contribute on an annual basis. Development Corporation of Austin Chair Kelly Wadding, President, Quality Pork Processors, Inc Sustaining Members Bronze – $500+ Individual Contributors – $100+ Platinum – $5000+ * Austin Daily Herald Dave Crandall 2014 2013 2012 Treasurer Steve Thorson, Principal, Clifton Larson Allent LLP * Austin Housing & * Fox Electric Dan Donnelly Vice Chair Geoff Smith, General Manager, IBI Data Redevelopment Authority * Freeborn-Mower Cooperative John Garry * Austin Utilities Services Steve Thorson Assets 3,870,000 4,490,000 4,980,000 Secretary Mark Nibaur, Austin Utilities General Manager * City of Austin * Games People Play Liabilities (2,050,000) (2,180,000) (2,830,000) Scott Aakre, Vice President, Corporate Innovation and * Hormel Foods Corporation * M.J. Oconnor Founding Members Equity 1,820,000 2,310,000 2,150,000 New Product Development, Hormel Foods Corporation * The Hormel Foundation * Palleton of MN * Austin Ready Mix Concrete Co. Along with those previously designated, the following Founding Members Megan Burroughs, Junior Partner, Adams, Rizzi and Sween Gold – $2500+ Smidt Companies, Inc. initially contributed $5000 or more to help launch DCA. Public Support 110,000 130,000 160,000 * Akkerman, Inc. * Smyth Companies Revenues 90,000 530,000 530,000 Board Members Eastwood Bank * Worlien Funeral Home * Anderson, Curt * Kolas Nick * US Bank * Anderson Memorials, Inc. * Management Art, Inc. Expenses (550,000) (500,000) (480,000) Maynard Akkerman Owner, Akkerman Inc. Contributing Members– $250+ * Ankeny Mini-Marts * Minnesota Freezer Warehouse Impairment Loss (140,000) - - Glenn Baker Owner, McFarland Truck Lines, Inc. Silver – $1000+ * Accentra Credit Union * Astrup (Sterling) Drug, Inc. * Mower County Commissioners * Austin Education Association * Nace, Laurence Paul Baessler Community Market President, US Bank * Baudler Law Office * Adams, Rizzi & Sween, P.A. Change in Net Assets (490,000) 160,000 210,000 * Austin Health Insurance – * Nordin, Richard Roger Boughton Council Member, Austin City Council * CliftonLarsonAllen * AdvisorNet Financial Mike Ruzek * Oak Park Mall George Brophy RSP Architects, ltd. and Former DCA President/CEO * Cooperative Response Center * Austin Chamber of Commerce * Austin Ready Mix Concrete Co. * Ondov, Ray Austin Community Charitable Fund David Clasen Owner, Clasen Jordan Mortuary * Damel Corporation, Inc. Cedar Valley Services * Austin Veterinary Clinic * Overby Orthodontics Mark Coffey Vice President, Affiliated Business Units, Refrigerated * Davis, Thoen, Kramer & Associates * Clasen-Jordan Mortuary 2014 2013 2012 * Brick Furniture Store – Austin * Paulsen Architectural Design, Inc. Foods, Hormel Foods Corporation * First Farmers & Merchants Bank Dolan’s Landscaping * City Concrete Co. * Reeve Chiropractic Clinic Assets 260,000 310,000 250,000 Gail Dennison Director of Development and Public Relations, Freeborn County Co-Operative Oil Co. * Harty Mechanical, Inc. * Elrod & Green, DDS * Rizzi, Steve The Hormel Institute * Fuhrman Real Estate * Heartman Insurance Liabilities (60,000) (30,000) (60,000) * Flack, Rich * Schammel Electric, Inc. Steve Drennan President, First Farmers and Merchants Bank * Hoversten, Johnson, Beckmann & * Holiday Cars Equity 200,000 280,000 190,000 * Greenman Heating & Refrigeration * Shopko-Austin Sandy Forstner Executive Director, Austin Area Chamber of Commerce Hovey, LLP * Home Federal Bank * Hanson Tire Service * Southeast Minnesota Association - - - Kevin Kestner President, Kestner Electric * IBI Data * The Hormel Institute * Hy-Vee Food Store of Realtors Jim Krueger President/CEO, Freeborn Mower Cooperative Services * The Joseph Company, Inc. * KAAL TV Revenues 180,000 350,000 80,000 * JD Driver Ltd. * Sween, Paul Jerry McCarthy Chair, Austin Port Authority Knutson Construction Co. * Kestner Electric Expenses (260,000) (260,000) (90,000) * Jones Cabinets * Torgerson Properties – Austin Charles Moline President, AdvisorNet Financial * Mayo Clinic Health Systems-Albert * Mayer Funeral Home * KAUS Radio * TradeExpos, Inc. Change in Net Assets (80,000) 90,000 (10,000) Steve Murley Vice President, Bremer Bank Lea & Austin * Potach & Mitchell Dental Clinic, PA * KSMQ Television * USEMS, Inc. Rod Nordeng Vice President of Operations, Mayo Clinic Health System, * McFarland Truck Lines, Inc. * Riverland Community College * Kane & Johnson Architects * Wells Fargo Austin & Albert Lea * Quality Pork Processors, Inc. * State Farm Insurance, Greg Meyer Lance Pogones Owner, Turtle Creek Construction RSP Architects, LTD * Sterling State Bank * Founding Members that have Development Corporation of Austin The Development Corporation of Austin (DCA) is a 501c6 Mike Tapp President, Tecstra Systems Tecstra contributed at least $5000 since Two Thousand Fourteen ⎜ Annual Report nonprofit organization. Revenue is from DCA members, public Nathan Toland Owner, Holiday Cars of Austin Winona Heating & Ventilation DCA was founded. entities, lease revenue and grants. The Austin Community Carter Wagner President, The Joseph Company, Inc. Charitable Fund (ACCF), a 501c3 charitable organization, is Credit Committee Staff a supporting organization of DCA. A portion of ACCF funds John Garry Alice Holst 329 N. Main, Suite 106-L Dave Forman Attorney, Baudler, Maus & Forman, LLP Executive Administrative Assistant Austin, MN 55912 are restricted to Vision 2010 activities and operations. Both Barry Irish President, Sterling State Bank President/CEO E-mail: [email protected] E-mail: [email protected] T:507-433-9495 organizations are independently audited annually. Doug Nuckolls Senior Vice President, First Farmers and Merchants Bank F: 507-433-9470 It has been a busy and These visits provide an opportunity to articulate DCA’s A primary DCA focus area in 2015 2014 Highlights productive first year as priorities, gain member feedback and secure financial Small Business Development Center Helps is to promote Austin as a place for chairman of the DCA commitments to keep us moving forward. companies considering relocation Advance Small Businesses and Entrepreneurs • Craig Clark was hired as the new Austin City Administrator and Executive committee. We and expansion. A 2014 experience has advocated for the City and DCA to work together to expand have gone about setting Many thanks to Board members like Rod Nordeng from Mayo provided valuable insights regarding economic development. priorities, planning and Clinic Health System, Albert Lea and Austin, for example, for attracting companies to our In 2014 the DCA partnered with the Austin Chamber, DCA received 50 hours of SBDC financial support for the garnering the support of helping open doors and facilitating conversations. We have community, as well as establishing Riverland Community College and SCORE to participate fourth quarter of 2014 and has secured 100 additional • DCA Executive Committee Chair Kelly Wadding’s leadership DCA members. asked members to step up and help us achieve our goals a big-picture framework for DCA to in the MnSBDC Network by establishing Small Business hours for 2015. DCA serves as a starting point, along in spearheading an outreach project to increase member through increased support. Gratefully, many members have. follow. Development Center (SBDC) services in Austin. with the SBDC office, and routes people to the right contributions has generated additional revenue and will DCA’s mission has resources. continue to do so into the future. always been to I also thank the Executive Committee comprised of Steve Austin’s proposal was a close second The need for these services were identified by Vision aggressively support Thorson, Geoff Smith, Scott Aakre, Megan Burroughs and to attract “Project Windmill,” a 164 2020 committees, Business Friendly Environment and Resources include consultants like former DCA President • In Austin, DCA (and the Austin Port Authority) sold the new and existing Mark Nibaur for their vision, their leadership and their John Garry President/CEO employee, Fortune 100, distribution Downtown Destination. SBDCs offer no-cost assistance and CEO George Brophy who has worked with numerous Robinson Building at a loss. However, this sale paved the way industrial enterprises commitment to strengthening DCA to advance Austin. center. Although we were not to small businesses and aspiring entrepreneurs by businesses in the areas of business planning, financing for the new SPAM Museum in downtown Austin and supported for the economic benefit selected as the site, this proposal Kelly Wadding qualified professionals. and location. Other assistance providers include SCORE, Drapery Services of Austin and MedCity Mobility in relocating to Chairman of Austin and Greater Lastly, thanks to John Garry and Alice Holst for their tireless put us on the economic development map with site selectors and the Southern Minnesota Initiative Foundation and improved facilities. Mower County. dedication to DCA and our community. I’m looking forward to State of Minnesota leadership and assisted us in developing a Previously, SBDC services had not been offered in Austin. Riverland Community College faculty and staff. Our new five-year plan has established a roadmap to guide working with them, the Board, our members and new entities distinct, competitive reputation as a place for business. Local small businesses and entrepreneurs were often • In Dexter, DCA owns a high-quality industrial building along our efforts by focusing on three key areas: and partners over the upcoming year. We are just referred to a nearby SBDC service location in Albert Lea, I-90 that will ultimately prove a terrific economic development getting started! We know Austin can compete for larger projects and offer Owatonna and Rochester or to the local SCORE Chapter. SBCDs can identify opportunities, increase asset in jobs and expanded tax base for Mower County and 1. Promoting Austin as a place for companies significant incentive packages. In addition to some financial fire (SCORE will continue to be a key resource to small Dexter. considering relocation and expansion. profits and provide greater stability and power and shovel-ready sites that we can bring to projects, we 2015 Priorities businesses.) 2. Business retention and expansion assistance long-term growth for companies. are becoming a truly distinctive rural small city. So much has In closing, thank you for the commitment of our Board, our for local companies. 1. Sell or lease the DCA-owned Dexter Building happened in Austin, so much is underway…Hormel Foods, Hormel SBDC services typically include assisting with: membership and our partners including: the Chamber of 3. Commercialization and innovative business growth 2. Add staff to assist with marketing and potential Institute and the Hormel Foundation, Vision 2020 initiatives, state- Commerce, the City of Austin, the Port Authority, the Austin HRA, in bio science, agriculture and technology. expansion projects • business plans of-the-art health care, growing schools that have both public and Riverland Community College, the Southern Minnesota Initiative 3. Create new marketing materials, launch a new Web site • manufacturing charitable support, an increasingly vibrant downtown. Our “brag” Foundation, Mower County and the State of Minnesota. In We have turned to our DCA membership to fuel our plans and increase marketing activities • financial packaging and lending story is not only very impressive – it is very real. 2015 we look forward to continuing our collaborative efforts to through an outreach project aimed at increasing member 4. Establish a new 501c3 nonprofit eligible for financial • exporting and importing support advance economic development in Austin. giving. Since November of 2014, DCA President/CEO John support from The Hormel Foundation • disaster recovery While 2014 presented some financial challenges, new Garry and I have made personal visits to more than 30 • procurement and contracting aid developments in Austin and future development in Dexter align members and will continue connecting throughout the • market research services well with the purpose of DCA and position us for success in 2015. next year. It has been a busy and These visits provide an opportunity to articulate DCA’s A primary DCA focus area in 2015 2014 Highlights productive first year as priorities, gain member feedback and secure financial Small Business Development Center Helps is to promote Austin as a place for chairman of the DCA commitments to keep us moving forward. companies considering relocation Advance Small Businesses and Entrepreneurs • Craig Clark was hired as the new Austin City Administrator and Executive committee. We and expansion. A 2014 experience has advocated for the City and DCA to work together to expand have gone about setting Many thanks to Board members like Rod Nordeng from Mayo provided valuable insights regarding economic development. priorities, planning and Clinic Health System, Albert Lea and Austin, for example, for attracting companies to our In 2014 the DCA partnered with the Austin Chamber, DCA received 50 hours of SBDC financial support for the garnering the support of helping open doors and facilitating conversations. We have community, as well as establishing Riverland Community College and SCORE to participate fourth quarter of 2014 and has secured 100 additional • DCA Executive Committee Chair Kelly Wadding’s leadership DCA members. asked members to step up and help us achieve our goals a big-picture framework for DCA to in the MnSBDC Network by establishing Small Business hours for 2015. DCA serves as a starting point, along in spearheading an outreach project to increase member through increased support. Gratefully, many members have. follow. Development Center (SBDC) services in Austin. with the SBDC office, and routes people to the right contributions has generated additional revenue and will DCA’s mission has resources. continue to do so into the future. always been to I also thank the Executive Committee comprised of Steve Austin’s proposal was a close second The need for these services were identified by Vision aggressively support Thorson, Geoff Smith, Scott Aakre, Megan Burroughs and to attract “Project Windmill,” a 164 2020 committees, Business Friendly Environment and Resources include consultants like former DCA President • In Austin, DCA (and the Austin Port Authority) sold the new and existing Mark Nibaur for their vision, their leadership and their John Garry President/CEO employee, Fortune 100, distribution Downtown Destination. SBDCs offer no-cost assistance and CEO George Brophy who has worked with numerous Robinson Building at a loss. However, this sale paved the way industrial enterprises commitment to strengthening DCA to advance Austin. center. Although we were not to small businesses and aspiring entrepreneurs by businesses in the areas of business planning, financing for the new SPAM Museum in downtown Austin and supported for the economic benefit selected as the site, this proposal Kelly Wadding qualified professionals. and location. Other assistance providers include SCORE, Drapery Services of Austin and MedCity Mobility in relocating to Chairman of Austin and Greater Lastly, thanks to John Garry and Alice Holst for their tireless put us on the economic development map with site selectors and the Southern Minnesota Initiative Foundation and improved facilities. Mower County. dedication to DCA and our community. I’m looking forward to State of Minnesota leadership and assisted us in developing a Previously, SBDC services had not been offered in Austin. Riverland Community College faculty and staff. Our new five-year plan has established a roadmap to guide working with them, the Board, our members and new entities distinct, competitive reputation as a place for business. Local small businesses and entrepreneurs were often • In Dexter, DCA owns a high-quality industrial building along our efforts by focusing on three key areas: and partners over the upcoming year. We are just referred to a nearby SBDC service location in Albert Lea, I-90 that will ultimately prove a terrific economic development getting started! We know Austin can compete for larger projects and offer Owatonna and Rochester or to the local SCORE Chapter. SBCDs can identify opportunities, increase asset in jobs and expanded tax base for Mower County and 1. Promoting Austin as a place for companies significant incentive packages. In addition to some financial fire (SCORE will continue to be a key resource to small Dexter. considering relocation and expansion. profits and provide greater stability and power and shovel-ready sites that we can bring to projects, we 2015 Priorities businesses.) 2. Business retention and expansion assistance long-term growth for companies. are becoming a truly distinctive rural small city. So much has In closing, thank you for the commitment of our Board, our for local companies. 1. Sell or lease the DCA-owned Dexter Building happened in Austin, so much is underway…Hormel Foods, Hormel SBDC services typically include assisting with: membership and our partners including: the Chamber of 3. Commercialization and innovative business growth 2. Add staff to assist with marketing and potential Institute and the Hormel Foundation, Vision 2020 initiatives, state- Commerce, the City of Austin, the Port Authority, the Austin HRA, in bio science, agriculture and technology. expansion projects • business plans of-the-art health care, growing schools that have both public and Riverland Community College, the Southern Minnesota Initiative 3. Create new marketing materials, launch a new Web site • manufacturing charitable support, an increasingly vibrant downtown. Our “brag” Foundation, Mower County and the State of Minnesota. In We have turned to our DCA membership to fuel our plans and increase marketing activities • financial packaging and lending story is not only very impressive – it is very real. 2015 we look forward to continuing our collaborative efforts to through an outreach project aimed at increasing member 4. Establish a new 501c3 nonprofit eligible for financial • exporting and importing support advance economic development in Austin. giving. Since November of 2014, DCA President/CEO John support from The Hormel Foundation • disaster recovery While 2014 presented some financial challenges, new Garry and I have made personal visits to more than 30 • procurement and contracting aid developments in Austin and future development in Dexter align members and will continue connecting throughout the • market research services well with the purpose of DCA and position us for success in 2015. next year. Financial Performance Board of Directors Sustaining and Contributing Members Executive Committee Members that contribute on an annual basis. Development Corporation of Austin Chair Kelly Wadding, President, Quality Pork Processors, Inc Sustaining Members Bronze – $500+ Individual Contributors – $100+ Platinum – $5000+ * Austin Daily Herald Dave Crandall 2014 2013 2012 Treasurer Steve Thorson, Principal, Clifton Larson Allent LLP * Austin Housing & * Fox Electric Dan Donnelly Vice Chair Geoff Smith, General Manager, IBI Data Redevelopment Authority * Freeborn-Mower Cooperative John Garry * Austin Utilities Services Steve Thorson Assets 3,870,000 4,490,000 4,980,000 Secretary Mark Nibaur, Austin Utilities General Manager * City of Austin * Games People Play Liabilities (2,050,000) (2,180,000) (2,830,000) Scott Aakre, Vice President, Corporate Innovation and * Hormel Foods Corporation * M.J. Oconnor Founding Members Equity 1,820,000 2,310,000 2,150,000 New Product Development, Hormel Foods Corporation * The Hormel Foundation * Palleton of MN * Austin Ready Mix Concrete Co. Along with those previously designated, the following Founding Members Megan Burroughs, Junior Partner, Adams, Rizzi and Sween Gold – $2500+ Smidt Companies, Inc. initially contributed $5000 or more to help launch DCA. Public Support 110,000 130,000 160,000 * Akkerman, Inc. * Smyth Companies Revenues 90,000 530,000 530,000 Board Members Eastwood Bank * Worlien Funeral Home * Anderson, Curt * Kolas Nick * US Bank * Anderson Memorials, Inc. * Management Art, Inc. Expenses (550,000) (500,000) (480,000) Maynard Akkerman Owner, Akkerman Inc. Contributing Members– $250+ * Ankeny Mini-Marts * Minnesota Freezer Warehouse Impairment Loss (140,000) - - Glenn Baker Owner, McFarland Truck Lines, Inc. Silver – $1000+ * Accentra Credit Union * Astrup (Sterling) Drug, Inc. * Mower County Commissioners * Austin Education Association * Nace, Laurence Paul Baessler Community Market President, US Bank * Baudler Law Office * Adams, Rizzi & Sween, P.A. Change in Net Assets (490,000) 160,000 210,000 * Austin Health Insurance – * Nordin, Richard Roger Boughton Council Member, Austin City Council * CliftonLarsonAllen * AdvisorNet Financial Mike Ruzek * Oak Park Mall George Brophy RSP Architects, ltd. and Former DCA President/CEO * Cooperative Response Center * Austin Chamber of Commerce * Austin Ready Mix Concrete Co. * Ondov, Ray Austin Community Charitable Fund David Clasen Owner, Clasen Jordan Mortuary * Damel Corporation, Inc. Cedar Valley Services * Austin Veterinary Clinic * Overby Orthodontics Mark Coffey Vice President, Affiliated Business Units, Refrigerated * Davis, Thoen, Kramer & Associates * Clasen-Jordan Mortuary 2014 2013 2012 * Brick Furniture Store – Austin * Paulsen Architectural Design, Inc. Foods, Hormel Foods Corporation * First Farmers & Merchants Bank Dolan’s Landscaping * City Concrete Co. * Reeve Chiropractic Clinic Assets 260,000 310,000 250,000 Gail Dennison Director of Development and Public Relations, Freeborn County Co-Operative Oil Co. * Harty Mechanical, Inc. * Elrod & Green, DDS * Rizzi, Steve The Hormel Institute * Fuhrman Real Estate * Heartman Insurance Liabilities (60,000) (30,000) (60,000) * Flack, Rich * Schammel Electric, Inc. Steve Drennan President, First Farmers and Merchants Bank * Hoversten, Johnson, Beckmann & * Holiday Cars Equity 200,000 280,000 190,000 * Greenman Heating & Refrigeration * Shopko-Austin Sandy Forstner Executive Director, Austin Area Chamber of Commerce Hovey, LLP * Home Federal Bank * Hanson Tire Service * Southeast Minnesota Association - - - Kevin Kestner President, Kestner Electric * IBI Data * The Hormel Institute * Hy-Vee Food Store of Realtors Jim Krueger President/CEO, Freeborn Mower Cooperative Services * The Joseph Company, Inc. * KAAL TV Revenues 180,000 350,000 80,000 * JD Driver Ltd. * Sween, Paul Jerry McCarthy Chair, Austin Port Authority Knutson Construction Co. * Kestner Electric Expenses (260,000) (260,000) (90,000) * Jones Cabinets * Torgerson Properties – Austin Charles Moline President, AdvisorNet Financial * Mayo Clinic Health Systems-Albert * Mayer Funeral Home * KAUS Radio * TradeExpos, Inc. Change in Net Assets (80,000) 90,000 (10,000) Steve Murley Vice President, Bremer Bank Lea & Austin * Potach & Mitchell Dental Clinic, PA * KSMQ Television * USEMS, Inc. Rod Nordeng Vice President of Operations, Mayo Clinic Health System, * McFarland Truck Lines, Inc. * Riverland Community College * Kane & Johnson Architects * Wells Fargo Austin & Albert Lea * Quality Pork Processors, Inc. * State Farm Insurance, Greg Meyer Lance Pogones Owner, Turtle Creek Construction RSP Architects, LTD * Sterling State Bank * Founding Members that have Development Corporation of Austin The Development Corporation of Austin (DCA) is a 501c6 Mike Tapp President, Tecstra Systems Tecstra contributed at least $5000 since Two Thousand Fourteen ⎜ Annual Report nonprofit organization. Revenue is from DCA members, public Nathan Toland Owner, Holiday Cars of Austin Winona Heating & Ventilation DCA was founded. entities, lease revenue and grants. The Austin Community Carter Wagner President, The Joseph Company, Inc. Charitable Fund (ACCF), a 501c3 charitable organization, is Credit Committee Staff a supporting organization of DCA. A portion of ACCF funds John Garry Alice Holst 329 N. Main, Suite 106-L Dave Forman Attorney, Baudler, Maus & Forman, LLP Executive Administrative Assistant Austin, MN 55912 are restricted to Vision 2010 activities and operations. Both Barry Irish President, Sterling State Bank President/CEO E-mail: [email protected] E-mail: [email protected] T:507-433-9495 organizations are independently audited annually. Doug Nuckolls Senior Vice President, First Farmers and Merchants Bank F: 507-433-9470