BEST OF IOWA Business Expansion & Strategic Trends What is BEST - - PDF document

3/25/2013 1

BEST OF IOWA

Business Expansion & Strategic Trends

What is BEST of Iowa?

• Business Expansion and

Strategic Trends or BEST is the statewide brand for the business retention and expansion strategy in Iowa.

3/25/2013 2

What is the BEST Management Team?

• Representatives of the entities that developed a statewide,

existing business collaborative effort launched in 2007.

• Partners in the effort include: Alliant Energy – IPL, Black Hills

Energy, Iowa Area Development Group, MidAmerican Energy Company and the Iowa Economic Development Authority.

What is the BEST Coalition?

• Representatives of the various organizations, both public and

private, who assist with the implementation and oversight of the BEST program.

• Additional partners to provide more resources, a unified,

statewide approach to explore solutions and opportunities for issues identified in the annual Synchronist reports.

3/25/2013 3

BEST Coalition Members

Association of Business and Industry Iowa Association of Community Colleges Iowa Business Council Iowa Economic Development Authority Iowa Department of Education Iowa Innovation Council Center for Industrial Research and Service Iowa State University University of Iowa Utility Partners Institute for Decision Making Iowa Workforce Development Professional Developers of Iowa Iowa Private Colleges

What does BEST Mean to Economic Development?

• National model using business data to initiate change on a

statewide level

• Data can be analyzed locally, regionally and statewide
• Benchmark against national users in more than 30 states and

Canada

3/25/2013 4

2011 – 2012 Activity

• More than 1,200 visits completed May 15, 2011 through May

15, 2012

• Regional marketing groups participation
• Utility partner assistance
• IEDA focus on program
• Stakeholder reports

I collected data… now what?

• Data collected can be analyzed and reported by local users to

help…

• Identify growth opportunities to support local industry
• Predict companies at risk of downsizing or closing
• Forecast economic investment
• Provide a vehicle to identify issues to incorporate into the local

program of work

3/25/2013 5

I collected data… now what?

• Data collected can be analyzed and reported by local users to

help…

• Connect businesses with local and state resources to assist growth

and address business needs

• Generate quantifiable facts to support business attraction

marketing initiatives

• Information is used to provide community and state leadership

insight for allocation of resources

• Assist with the creation of effective and competitive public policy

3 Factors

Workforce

3/25/2013 6

3/25/2013 7

Recruitment Problems

Recruitment Problems Table AA Category NADS Iowa '10 Iowa '11 Iowa '12 Skilled Production 18.91% 12.07% 12.38% 14.50% Scientific/ Technical 14.33% 13.42% 12.18% 12.29% Management/ Marketing/ Sales 7.84% 8.32% 10.89% 9.66% Unskilled Production 5.23% 3.64% 4.46% 5.81% Administrative/ Clerical 2.10% 2.08% 2.38% 1.80% Other 9.99% 7.39% 5.54% 8.19%

No Expand Here

3/25/2013 8

Why No Expand Here

No Expand Here Table T NADS Iowa No Expand Here 2012 2012 Category NADS Iowa '11 Iowa '12 3 1 Labor - Skilled 1.91% 2.77% 2.87% 2 2 Land Availability 2.01% 3.27% 2.54% 5 3 Customer/ Supplier Accessibility 1.11% 1.19% 1.39% 8 4 Labor - Other 0.96% 1.58% 1.31% 4 5 Business Climate 1.64% 0.79% 1.15% 1 6 Cost of Doing Business 2.76% 1.39% 1.15% 7 7 Building Availability 0.98% 1.29% 0.74% 12 8 Labor - Unskilled 0.54% 0.30% 0.66%