FY2012 financials
Funding for ICAD Group’s work and programming comes from private and public investments, grants, event revenue, and in-kind support.
FY2012 Expenses $1,180,202
Programming $603,869 • Targeted Business Recruitment $146,851 • Existing Business Retention and Expansion $141,868 • Communications and Investor Relations $124,024 • Workforce Business Services $95,685 • Entrepreneurial Development & Culture of Innovation $95,441
Investment Campaign $312,274
Office/Administration $264,059
At the close of FY2012, total investments were under budget by $83,523. As the prior investment campaign lasted through FY2011, existing investors were asked to extend their pledge for an additional year due to global economic conditions and to allow ICAD Group to complete its long term planning. This budget discrepancy represents those investors who did not contribute in this extended period. Resource allocation at the program level remained relatively consistent with prior years, and each area was favorable to budget after factoring in partnership and program income. The largest expense in this fiscal year was related to the Vision 2030 Fundraising Campaign. Costs included planning work done in FY2011 and the execution and staffing of the campaign. Total campaign costs exceeded budget projections by $47,274. Costs for the investment campaign were paid out of retained earnings and the organization ended FY2012 cash positive and without debt.
FY2012 icad group partners & investors
A M Management Acciona Windpower NA ACT, Inc. Alpla of Iowa Amana Society, Inc. AW Welt Ambrisco Insurance Bachmeier Interiors & Carpet Benson & Hepker Design Bradley & Riley PC Brandt Heating & Air Conditioning Build to Suit, Inc. Carlson, Hartsock & Guither PLC City Carton Recycling City of Coralville City of Iowa City City of Kalona
Iowa City Area Chamber of Commerce
Shive-Hattery
Iowa City/Coralville Convention & Visitors Bureau
SourceMedia Group
Shuttleworth & Ingersol PLC
Iowa City Landscaping
South Slope Cooperative Communications Company
Iowa City Press-Citizen
Spielman’s Event Services
Johnson County
Story Construction Company
Keystone IT
Tallgrass Business Resources
Kirkwood Community College
Tipton Economic Development Corporation
Knutson Construction Services John & Audrey Kofoed Leepfrog Technologies
Transamerica Life Insurance Company
Liberty Communications
TrueNorth Companies LC
Liberty Growth
University of Iowa Research Foundation
Linn County REC M Hanson & Company, Inc.
University of Iowa Research Park
McCrossen Consulting LLC
University of Iowa Community Credit Union
McGladrey LLP
University of Iowa Hospitals & Clinics
Mercer Administration
US Bank
Mercy Iowa City
Van Meter, Inc.
Merit Construction Company MidAmerican Energy Company
Vetter’s Inc. dba Culligan Water Technologies
MidWestOne Bank
Wells Fargo Bank
Neumann Monson PC
West Bank
Deery Brothers Ford Lincoln
New Ventures (Eastern Iowa Light & Power Cooperative)
West Liberty State Bank
The Eastern Iowa Airport
Pearson
Economy Advertising aka Bankers Advertising/TruArt Color Graphics
Phelan, Tucker, Mullen, Walker, Tucker & Gelman LLP
Whirlpool Corporation, Amana Division
Freedom Security Bank GEICO
PIP Printing & Document Services
Greenwood & Crim PC
Plumbers Supply Company
Hawkeye Title & Settlement Services LLC
Prime Ventures Construction
City of North Liberty City of Solon City of Tiffin City of West Branch Cook Appraisal Coral Ridge Mall Corridor Media Group Creative Management dba McDonald’s
Hayek, Brown, Moreland & Smith LLP
Procter & Gamble/Oral B Laboratories
Henry Russell Bruce
Pulkrabek Law Office PLC
Herteen & Stocker Jewelers
Quad City International Airport
Hills Bank & Trust Company
River City Radio - KCJJ
HJR Financial Group
Regions Bank
Hodge Construction Company
Rockwell Collins
Holiday Inn Hotel & Conference Center
Rohrbach Associates
Hospers & Brother Printers
Ryan Companies US
HR Green, Inc.
Selzer Werderitsch Associates
Innovative Software Engineering
Sheraton Iowa City Hotel/ hotelVetro
Integrated DNA Technologies
Rummells Farms, Inc.
West Music Company
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FY2012 timeline
ICAD GROUP FY2012 Timeline of economic development news, events and activity
ICAD Group works to enhance the quality of our communities by serving the business development needs of interstate commerce companies. Through these efforts, we create, collaborate and lead regional economic development initiatives that contribute to the creation and growth of companies, wealth and quality jobs.
july July 14 Both Cedar Rapids and Iowa City recognized as “Best Places for Businesses and Careers” in Forbes magazine’s newest “best of” list. Cedar Rapids ranks number 11 among largest metropolitan statistical areas while Iowa City ranks number 13 among smaller metros.
august July 29 ICAD Group hosts an Innovation Meetup during RAGBRAI’s stay in Coralville, providing the community and RAGBRAI riders information on upcoming innovation and entrepreneurial programming in the area.
August 8 ICAD Group releases firstever area economic report, with eighteen metrics providing investors and the community an accurate representation of economic development impact and market growth during the past nine years.
september August 17 To help Robert’s Dairy and Whirlpool employees affected by layoffs, ICAD Group works with IowaWorks to promote a job fair for regional employers in manufacturing.
September 6 ICAD Group renews its partnership with the University of Iowa Alumni Association to promote the Pick Your Pace website to Iowa alumni during all “Hawkeye Huddles” in 2011.
September 30 Iowa City hosts its first Startup Weekend, where ideas are transformed into business plans in 54 hours. From this event, regional startup RecBob is launched.
Innovation Meetup
january January 9 ICAD Group launches its Vision 2030 five year investment campaign and implements a new game-plan consistent with the culture of innovation that is required to compete in a global economy.
february January 30 Iowa City recognized nationally by Forbes magazine as a “Top Place to Retire – and Work,” while Livability.com designates the Iowa City Public Library as a “Top 10 Library for Children.”
Vision 2030 campaign launch
February 9 Years of data trends and corporate feedback from our existing industry surveys validate the airport’s efforts and pays off for clients and investors with the addition of service from Frontier Airlines, providing affordable and timely air service to western destinations from the Eastern Iowa Airport.
march February 21 ICAD Group launches a regional Job Club in response to a growing demand from employers and unemployed professionals. The Job Club offers networking and training to help connect professionals to career opportunities in Iowa’s Creative Corridor.
March 26 MediRevv, a healthcare revenue cycle management company, hosts a construction ceremony for their new $2.4 million, 18,000 square foot facility. Over the next few years, MediRevv plans to employ more than 200 associates in the new location.
MediRevv construction
March 30 After eleven plus years leading ICAD Group, Joe Raso accepts the position as President and CEO of the Greater Colorado Springs Chamber of Commerce and EDC. Mark Nolte is named interim president of ICAD Group.
october October 3 Stuefen Manufacturing begins operations in Tipton’s Industrial Park, building Powerlift Hydraulic doors for agricultural use, business and airport hangars. Tipton’s Industrial Park was the first property in Iowa to receive the Certified Shovel Ready designation.
november October 6 More than 50 employers and resource providers participate in a Veteran’s Job and Resource Fair at the Iowa National Guard Amory. The event offers opportunities and support to members of the Iowa National Guard returning from service overseas.
april April 11 Johnson County ranks third in The “Fourth Economy Community Index.” This index features counties that are ideally positioned to attract modern investment and managed economic growth.
November 8 ICAD Group and the Cedar Rapids Metro Economic Alliance present the region’s first comprehensive existing industry survey to local HR professionals and the Eastern Iowa Human Resources Association.
december November 11 The Iowa City and Cedar Rapids region host the area’s first ever TEDx, where TEDTalks videos and live speakers combine to spark deep discussion and celebration of ideas worth sharing in Iowa’s Creative Corridor. Dr. Terry Wahls’ TEDxIowaCity presentation has since reached more than 985,000 views on YouTube.
may April 20 The Cedar Rapids Metro Economic Alliance and ICAD Group announce that through a strong working partnership with Kirkwood Community College, Iowa County and the State of Iowa, Whirlpool Corporation will make investments at its Amana Division to support the ramp up of its built-in refrigerator production line.
May 4 ICAD Group receives the inaugural Business Retention and Expansion award from the Professional Developers of Iowa. ICAD Group is recognized for its overall BRE program, which includes annual industry surveys, headquarters visits and customized programming for clients based on their needs in the community.
December 8 CIVCO Medical Solutions hosts its official ribbon cutting for its new Coralville facility. The new $1.1 million, 11,400 square foot office in Coralville is CIVCO’s second location in the area, joining its flagship manufacturing and distribution center in Kalona.
December 19 Iowa City moves up one spot to number 8 on the Milken Best Performing Cities index. According to the report, long-term and short-term wage growth and hightech GDP growth contributed to Iowa City’s ranking.
june May 7 The University of Iowa and Kirkwood Community College selected as one of six regional hubs for Science, Technology, Engineering and Math (STEM) education and economic development programming. ICAD Group’s DaLayne Williamson is appointed to serve on the Southeast Regional STEM Advisory Council.
May 16 The City of Iowa City receives “Certified Shovel Ready Status” for the Wind Energy Supply Chain Campus on the city’s east side. Austin Consulting of Cleveland, Ohio, notes that the city has developed an ideal site that is connected to infrastructure and able to meet the tight deadlines of site location.
June 3 ICAD Group interim president Mark Nolte presents at the American Wind Energy Association’s Windpower2012 Conference in Atlanta. Nolte’s presentation outlines the steps and factors which must be considered in wind energy site selection projects.
June 30 Green Team Technologies (GTT) of Coralville receives a $250,000 loan from the Iowa Innovation Acceleration Fund. GTT is a software development company focused on providing solutions to the independent automotive parts and accessories industry.
FY2012 icad group board of directors
Tim Bradshaw, Airport Director, The Eastern Iowa Airport David Bywater, Vice President/COO, Economy Advertising Jordan Cohen, Vice President, Research and Economic Development, University of Iowa
Kenneth Kates, Associate Vice President, University of Iowa Hospitals & Clinics Phil Larson, Vice President, Shive-Hattery Hass Machlab, President, Innovative Software Engineering
Kevin Digmann, Project Manager, Hodge Construction Company
Tom Markus, City Manager, City of Iowa City
Jeffrey A. Disterhoft, President/ CEO, University of Iowa Community Credit Union
Jerry Melick, Manager, Liberty Communications
Scott Fisher, ICAD Group Chair, President, McCrossen Consulting LLC
Chuck Peters, ICAD Group Chair-Elect, President & COO, SourceMedia Group
Bart Floyd*, President, US Bank
Michael J. Pugh, Attorney, Bradley & Riley PC
Tom Goedken, Vice President, ACT, Inc. Matt Hayek, Mayor, City of Iowa City
Nancy Quellhorst, President/CEO, Iowa City Area Chamber of Commerce
Kelly Hayworth, City Administrator, City of Coralville
Ronald R. Reed, President/CEO, Mercy Iowa City
Ryan Heiar, City Administrator, City of North Liberty
Janelle Rettig, Supervisor, Johnson County Board of Supervisors
David Hensley, Executive Director, University of Iowa John Pappajohn Entrepreneurial Center Gary Hood, General Manager, MidAmerican Energy Kim Johnson, Executive Vice President, Continuing Education & Training Services, Kirkwood Community College
Lynn Rowat, Market President, West Bank Jim Schreck, Technical Services Leader, Procter & Gamble/Oral-B Laboratories Damon Terrill, Senior Vice President & General Council, International Legal & Regulatory Affairs, Integrated DNA Technologies
Madeline Windauer, Director of Tax, McGladrey, Inc. Pamela York*, Executive Director, University of Iowa Research Foundation, IOWA Centers for Enterprise
*Bart Floyd and Pamela York resigned their board positions during the fiscal year due to new obligations.
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