FY2023 Adopted Budget

Economic Development The Economic Development Division researches, compiles, and analyzes demographic and economic data in order to recommend, implement, and advocate policies and programs designed to further the economic development of Iowa City. Staff members work closely with The Iowa City Area Business Partnership (formerly Chamber of Commerce), Iowa City Area Development Group (ICAD), University of Iowa, and others in promoting the City as a viable business location. They assist developers and prospective companies with commercial and industrial development projects. Staff advises the City Council, boards and commissions regarding economic development projects and proposals. General Fund Activities: • The Economic Development division is the municipal office to contact for business assistance in City of Iowa City. A division of the City Manager’s Office, they provide access to information and to individuals throughout the City organization and assist in pursuing new and expanding business endeavors.

Recent Accomplishments: • Tailwind TIF project on 100 block of E. College St. approved by Council (photos below) • Implemented Highway Commercial Tax Abatement Area • Eight (8) Industrial Area Energy Efficiency Grants totaling $798,000 approved by Council • Conducted second annual Climate Action Awards in categories of Buildings, Adaptation, Waste Management, Transportation and Sustainable Lifestyle • Supported MCDIowa’s INcubate BIPOC-owned business accelerator Upcoming Challenges: • Promote Energy Efficiency grant program in Downtown/Riverfront Crossings/Northside Marketplace • Improve Minority- and BIPOC-owned business support • Find ways to help mitigate impact of Covid-19 on economic and business landscape 75