ICAD Group Wins State Business Retention and Expansion Award

5/4/2012

PDI created awards to recognize leading business retention and expansion efforts

(Des Moines) - The Iowa City Area Development (ICAD) Group was one of four organizations recognized yesterday at the annual state economic development conference for their work with business retention and expansion.  ICAD Group received an inaugural BRE award from the Professional Developers of Iowa (PDI).  PDI created the BRE award to identify programs and projects that have a significant impact on Iowa communities.  ICAD Group won for its overall BRE program.

“Existing business represents more than 70 percent of the growth of an area economy, so we put significant time and effort into this program,” said ICAD Group Interim President Mark Nolte.  “We thank the Professional Developers of Iowa for not only recognizing us, but creating this award to encourage more communities to connect with their companies.”

ICAD Group implemented its existing industry program, called “Minding Our Own Businesses,” in June of 2002, meeting that first year with 32 companies.  To date, ICAD Group has expanded this list and works with approximately 90 companies a year, 65 to 70 of which consistently provide data for its annual existing industry report.

“The goals of our existing industry program relate directly to the mission of the organization,” added Nolte.  “In order to enhance the quality of our communities and serve the business development needs of interstate commerce companies, we must work directly with our existing industry clients.”

In addition to conducting annual surveys, ICAD Group also conducts headquarters visits and provides customized programming for clients based on their needs in the community.  By collecting data annually, ICAD Group is able to accurately update its board and investors, investor communities, elected officials, clients and the general public. 

The award was presented during the 27th Annual SMART Economic Development Conference in Des Moines.  The day-long event included panelists and keynote speakers addressing pressing development issues, including shovel-ready sites, workforce development, tax increment financing and community sustainability.  Mark Nolte presented on behalf of ICAD Group during the existing industry panel.  Awards were also given to the Greater Dubuque Development Corporation, the City of West Des Moines and the Kossuth/Palo Alto County Economic Development Corporation.