Iowa Lakes Corridor Development Corp. Announces It's Priorities For Next 5 Years

Tue 12-17-2019

(Spirit Lake)-- The Iowa Lakes Corridor Development Corporation says job retention and creation will continue to be the top priority in their planning strategy for the next five years. Kylie Miller, CEO, outlined the plan at Tuesday's Dickinson County Board of Supervisors meeting as part of an annual request for funds...Corridor Funding01 

"You will see that we believe our business retention and expansion and attraction programs can help yield 900 new jobs over the next five years. That's in line with what we've been doing over the previous four years and we're confident that will continue. Those jobs will yield more than 32 million dollars in annual payroll, plus another 593 secondary jobs, bringing a total of new jobs in the area that The Corridor would have a role in helping to create of more than nearly 1,500 jobs and in excess of 50 million dollars in payroll. And just one measure of the benefit, we anticipate that will yield more than $220,000 in new local option sales taxes."

Miller is requesting each of the four counties in its service area chip in $30,000 each for the next fiscal year. Dickinson county contributed $25,000 to the Corridor for the current fiscal year. Miller says that's a pittance compared to what other counties in Iowa are contributing toward economic development entities...Corridor Funding02 

"What we found out was that basically we're substantially less than our peers. Now we believe that regionalism means that we don't have to ask as much. But we would love to see an incremental increase to bring us more in line with other counties. And as well going forward what we would like to do is discuss with the supervisors, not at this time but at a future meeting, the opportunity for basing our investments on a per capita."

The supervisors will take the funding request under advisement as they continue budget talks for the upcoming fiscal year.