(Spencer)– The Iowa Lakes Corridor Development Corporation Tuesday released its second annual report of interviews conducted with 25 existing industries throughout the corridor region. The report concludes that the region’s business climate is healthy.
Of the 25 companies interviewed this year, 64 percent plan to expand their facilities in the region in the next three years, creating up to 142 new jobs and investing more than 65 million dollars.
In addition, 22 of the 25 companies have introduced new products, services or capabilities in the last five years and 18 of the 25 anticipate new services or products in the next two years.
The 25 employers interviewed employ over 3,880 people and added 182 new jobs over the last three years, a net gain of 143 jobs. The local workforce was rated quite high in all areas, except availability, with some employers having challenges filling some positions. The 25 employers had 132 positions unfilled at the time of the interviews, but indicated the number is stable.
Public services and utilities were ranked very high by the employers, while air service and cellular service were ranked low.
Kathy Evert, President of the Iowa Lakes Corridor Development Corporation, says based on research, existing businesses and industries account for 70 percent or more of all new jobs. She says this report, as well as last year’s, verifies that.
