FY2024 Proposed 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:  Offered Targeted Small Business grants; awarded 10 businesses a total of $31,642  Approved 1 Industrial Area Energy Efficiency Grant for a total of 9  Established Energy Efficiency Grant program for City-University Project 1 Urban Renewal Area; approved 1 project  Worked with Climate Outreach office to create incentive for Big Grove Brewery’s carbon capture system  Assistance provided for establishment of South District SSMID  Supported ICDD’s application to State of Iowa for downtown Cultural and Entertainment District designation Upcoming Challenges:  Improve support for BIPOC and minority-owned businesses  Promote investment in Highway 6 Commercial Tax Abatement Area  Develop programs with ARPA funding to support small business, arts and culture 74