Economic Development Organizations Receive Awards for Business Retention and Expansion Efforts
The Professional Developers of Iowa (PDI) honored economic development organizations from the Ida County, Sheldon, Lee County and Northwest Iowa areas during the SMART Economic Development Conference held in Des Moines on May 4. (Second of a 2-part highlight.)
The PDI Business Retention and Expansion (BRE) Awards recognize the contribution of BRE to the success of local and regional economic development initiatives. The purpose of the awards is to increase the focus on BRE in economic development organizations by identifying programs and projects that have significant impact on Iowa communities. Eligible projects are those in which the PDI member played a coordinating role or in which BRE activities played an integral role in the success of an economic development strategy. There are two award categories for the BRE Awards: Overall BRE Program and the Single Project or Success.
We will spotlight the other two of the recipients in this issue...
The Single Project Success Award Winners:
This award recognizes a single event or issue in which a community successfully mobilized to retain or expand an existing business. Consideration was given to the process of identifying the opportunity, collaboration with local, regional and/or state partners and the ability to respond quickly. We have two awards to present in the Single BRE Project/Success Category.
Rosenboom Machine & Tool Expansion Project / Sheldon Chamber and Development Corporation
Rosenboom Machine and Tool, Inc. was established in 1974 and is a privately owned company with approximately 800 employees and three manufacturing location (two in Iowa). During a routine Synchronist Retention visit, it was noted that the company was working on a federal government contract that would necessitate a major building expansion in Sheldon. The company was successful in obtaining the contract and expanded their Sheldon facilities by 48,000 SF at a cost of $16 million. They will also create 54 new jobs.
Representing the Sheldon Chamber and Development Corporation on their business retention and expansion award is Lary Rosenboom & Justin Rosenboom - Rosenboom Machine and Tool, Inc.; Curt Strouth, Community Development Director, Sheldon Chamber and Development Corporation; Pete Hamill, Sheldon City Council Member; and Tom Eggers, Secretary/Treasurer, Sheldon Chamber and Development Corporation.
VT Industries / Ida County Economic Development
Their opportunity was to retain the county’s largest employer, VT Industries, when they were looking at other expansion locations across the United States. Ida County Economic Development worked with community partners to develop a proposal that contained potential incentives and future investments that were being planned by the community that would increase future opportunities for the company. The project resulted in a $21 million investment by the company and the creation of 60 new jobs.
Accepting the award are VT Industries, Inc. representatives Jason Farver, Executive Vice President; Frank Forneris, Facilities Manager; and Cordell Burton, Director of Corporate Engineering. plus Rita Frahm, Ida County Economic Development