Competitive Capacity Assessment

January 19, 2011

Community Leadership Meeting
Presented By • Alex Pearlstein, Director of Projects • Ellen Anderson, Director of Research

Agenda
• Economic context • Market Street Services • Capital Crossroads process • Competitive Capacity Assessment • Next Steps

Economic Context

The Great Recession: Dec ‘07 – Jan ‘10
Total jobs lost during this time:

8.35 million
By January 2010, 14.8 million were unemployed and 9.3 million were working part time, wanting full-time work.

Source: Bureau of Labor Statistics, seasonally adjusted

The 2000s

“This was the first business cycle where a working-age household ended up worse at the end of it than the beginning, and this in spite of substantial growth in productivity, which should have been able to improve everyone's well-being.”
Lawrence Mishel Economic Policy Institute Washington Post January 2, 2010

The Great Recession Has Left Us…
1. The decade of 2000 – 2009 was JOBLESS. While we gained 27 million new

residents, we lost 985,000 jobs.
2. Three in 10 unemployed Americans were out of work for 27 weeks or more at the

end of the recession. That number has since climbed to 4 in 10, the highest since the measure's creation in 1948.
3. The civilian labor force shrunk by 1.5 million people - a record since World War II. 4. Total loans at FDIC banks dropped 7.4 percent in 2009 - the largest drop in 67

years.
5. The Standard & Poor’s Index (including dividends) from 2000 through 2009 was -

9%: a greater loss than the 1930s.
Source: The Economist; Bureau of Labor Statistics; Atlanta Federal Reserve

The Great Recession Has Left Us…
6. Number of homes where the mortgage exceeded the value: 1 in 4. 7. 70 banks failed during the recession, an additional 234 banks have failed since then. 8. Companies with fewer than 50 employees accounted for 41 percent of the total job loss

in the great recession. That number is five times its share compared to the 2001 recession.
9. Household debt has declined 3.8 percent from its peak in July 2008 through October

2009. This is the largest decline since 1943.

Source: The Economist; Bureau of Labor Statistics; Atlanta Federal Reserve

Household Net Worth 1981–2010
Average Net Worth  of Households and  Non Profits, United States
(Adjusted for Inflation, 2010 dollars) = National Recession
$700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000

‐23.5%
Q1'07 ‐ Q4'09

Source: United States Census Bureau, Moody’s Economy.com

Families in Need
Percentage of Households Receiving Food Stamps
Source: Food and Drug Administration;  Moody's Economy.com 18% 16% 14% 12% 10% 8% 6% 4% 2% 0%
Key Dates: 1990 ‐ Mickey Leland Domestic Hunger Relief Act greatly expands benefits. 1997 ‐ Welfare reform; introduction  of TANF leads to restrictions on access and benefits . 2002 ‐ Food  Security and Rural Investment Act reapproves  restores eligibility  limited in 1997.  2005 ‐ Spike in food  stamp receipients  due to Hurricanes Katrina and Rita.

1 out of every  6 households (June 2010)

Consumer Confidence Drops Slightly
120

100

80

52.5

60

40

20

Dec 2007: Dec 2008: Dec 2009: Dec 2010:

90.6 38.6 53.6 52.5

0
Jan Mar May Jul Sept Nov Jan Mar May Jul Sept Nov Jan Mar May July Sept Nov Jan Mar May July Sept Nov 2007 2008 2009 2010

The consumer confidence index from a survey of 5,000 U.S. households. Seasonally adjusted: 1985=100 Source: The Conference Board

State Unemployment Rates November 2010
Nevada 14.3% Michigan 12.4% California 12.4% Florida 12.0% Rhode Island 11.6% South Carolina 10.6% Oregon 10.6% Kentucky 10.2% Georgia 10.1% Mississippi 9.9% Ohio 9.8% Washington DC 9.8% Indiana 9.8%

United States Iowa
Source: U.S. Bureau of Labor Statistics, seasonally adjusted

9.8% 6.6%

“Elvis Has Left the Mountain”
“First, if it is not apparent to you yet, it will be soon: there is no magic bullet for this economic crisis, no magic bailout package, no magic stimulus…We are going to have to learn to live with a lot more uncertainty for a lot longer than our generation has ever experienced.”
Thomas L. Friedman, Author New York Times February 1, 2009

Market Street Services

Background on Market Street
Three key principles distinguish our work from other firms: • • Rather than prescribing quick fixes, our goal is systemic change. Rather than producing boilerplate studies where only the client’s name changes, our goal is producing deliverables specific to each client’s situation. Rather than faceless consultants that make two presentations and disappear, our goal is developing a relationship as partners.

Market Street Clients
Since 1997, Market Street has worked in more than 125 communities and 29 states, including:
• • • • • • • • • •

Austin, TX Nashville and Memphis, TN Birmingham, AL St. Louis, Springfield, and Jefferson City, MO Tulsa, OK Little Rock, AR Sioux Falls, SD Coachella Valley, CA Greenville, SC Metro Atlanta: Carroll, Clayton, Cobb, Henry, Forsyth, & Gwinnett Counties

At the state level in:
• • • • • • • • • • • • • • • • Alabama Alabama Florida Florida Georgia Georgia Indiana Indiana Missouri Missouri North Carolina North Carolina West Virginia West Virginia Wyoming Wyoming

Market Street Current Clients
In addition to Greater Des Moines, Market Street is currently working in the following communities:
• • • • • • • • • Wheeling, West Virginia Hancock County, Mississippi Springfield, Illinois State of Missouri Montgomery, Alabama Northwest Arkansas Cobb County, Georgia DeKalb County, Georgia Alpharetta, Georgia

Visioning Process

Scope of Work
People, Prosperity & Place
Economic and Demographic Snapshot

Greater Des Moines (MSA) Central Iowa

Competitive Capacity Assessment Stakeholder Input Steering Committee Target Cluster and Marketing Analysis

• Des Moines MSA • Ames MSA • Newton MiSA • Pella MiSA • Marshalltown MiSA • Boone Misa

Capital Crossroads Plan

Comparison metros
• Denver, Omaha, Madison
Implementation Action Plan

State and Nation

Scope of Work
Stakeholder Input
Economic and Demographic Snapshot

50 one-on-one interviews 30 focus groups

Competitive Capacity Assessment Stakeholder Input Steering Committee Target Cluster and Marketing Analysis

• Constituency-specific • Assistance from ISU Extension

Online survey
• General survey:

CapitalCrossroadsVision.com • Young professionals survey
Capital Crossroads Plan

Implementation Action Plan

Project Advisors Dr. Jesse L. White Amy Holloway Next Generation Consulting

Competitive Capacity Assessment

Analyzes Greater Des Moines and Central Iowa’s competitiveness as a place for business and talent
– People, Prosperity, Place – Research indicators reflect those from a typical site selection process

What issues, challenges, constraints and opportunities affect your community “product”? Public input informs and supports the quantitative research

Target Cluster and Marketing Analysis

Reviews business location/expansion decision factors
– Begins with an overview of the decision making process of relocating and expanding businesses

Confirms existing – and analyzes emerging – targets • Recommends key targets for Greater Des Moines to pursue
• – Based on the Capital Crossroads region’s corporate and research strengths, workforce capacity, wealth-creation potential and national industry trends •

Marketing advisor Amy Holloway will review:
– Regional websites – External and internal marketing programs – Advertising, branding, identity, message – Findings will inform the Capital Crossroads strategy

Capital Crossroads strategy
• • •

Focus is on taking community to the next level of competitiveness Culmination of all prior research components Recommendation of goals, objectives, and action steps to prioritize future Greater Des Moines and Central Iowa investments for the coming five-year period References best practices and provides benchmarks and performance measures

Implementation Plan
• •

Critical to the success of the Capital Crossroads strategy Key components:
– – – – – Identification of lead and support implementation entities Program assessments and recommended enhancements Funding allocation analysis and recommendations Action timelines for implementation developed for each program year Discussion of new and/or enhanced partnerships necessary for effective implementation

Key questions
• How can the Capital Crossroads region’s growth be most sustainable? • What will that growth look like, and where/how will it be focused? • How big is too big? Is there such a thing as “too big”? • How can the Capital Crossroads area grow, but retain the qualities that • • • •

people cherish about the region? What employment sectors will drive the regional economy and how can they best be supported? Does the regional training “pipeline” effectively prepare students and adults for locally available, high-value jobs? What could be the transformative projects/efforts that really move the region forward in the coming years? How can quality of life continue to play a key role in the region’s growth? Can it be enhanced even more?

PEOPLE:
Talent development & socioeconomics

People: Talent Development

Pre-K Access: Participation skyrocketing, but potentially threatened by de-funding
– Stakeholders are pleased with services but would like increased access – Iowa ranks 14th nationally, but significantly trails top states – Governor Branstad set to propose a shift to needs-based funding

Public K-12 Schools: Urban/suburban regional disparities
– Des Moines PS enrollments have declined (-0.92%) while those in the MSA have increased notably (10.1%) over the 5-year period
› Performance challenged by changing demographics

– Stakeholders would like to see more charter schools and career academies but are discouraged by state policy and “regional parochialism”

People: Talent Development

Higher education: Extremely competitive capacity, which continues to grow – can be better leveraged for talent retention
– Very high college students per capita, with the highest percentage increase in enrollment among the comparison MSAs
› ISU one of the nation’s top agriculturally-focused research institutions

– All of the region’s colleges and universities are well regarded by residents, with Drake University achieving the highest ratings among survey respondents – Question of how students can be better connected to job opportunities •

Workforce development resources: Multiple resources but reported lack of awareness of certain programs
– RWIB trying to recover from scandal involving predecessor agency – Central IA Works created to fill void – coordinate cluster councils – DMACC a key asset but some programs are space-constrained

People: Talent Development
Market Street Services Workforce Risk Index, Rankings out of 353 Metropolitan Areas, 2008
W orkforce Index - Demographic Substainability Index
Rank 37 116 39 38 62 Metropolitan Area Des Moines‐West Des Moines, IA  Ames, IA  Denver‐Aurora, CO  Madison, WI  Omaha‐Council Bluffs, NE‐IA  Index 60.37 53.24 59.50 59.99 56.73

Age Pipeline
Population  Young  Approaching  Professionals  Retirement Population 89 102 59 81 96 106 82 77 81 114

Labor Force Participation

Migration Trends

LFPR            LFPR            Long‐Term Net  Short‐Term Net  (Ages 62+) (Ages 25‐34) Migration Migration 23 52 13 15 21 16 99 139 20 55 93 284 105 117 173 72 291 142 160 165

People: Socio-economics

Des Moines,  Denver,  Madison,  Omaha,  IA CO WI NE

Iowa

United  States

PEOPLE: Snapshot data
Poverty 
2009 total poverty rate Rank

15.0% 2

17.1% 4

11.0% 1

15.0% 2

15.7% 3

20.0% 5

Per Capita Income
2008 Per Capita Income Rank

$42,506 4

$48,010 $44,172 $43,012 $37,509 $40,166 1 2 3 6 5

Per Capita Income Growth
%, 2005‐08 Rank

10.87% 6

11.01% 5

12.05% 4

12.17% 3

16.02% 1

13.39% 2

Educational Attainment
% of adults w/ an Bachelor's degree or higher, 2009

Rank

33.8% 3

37.6% 2

41.0% 1

31.8% 4

25.1% 6

27.9% 5

People: Young Professionals
Overall  Rank  1  2  3  4  5  6  7  8  MSA  Madison  Des Moines  Denver  Austin  Minneapolis  Omaha  Nashville  Indianapolis  Vitality  10  6  5  3  5  5  4  2  Earning  8  4  5  7  7  5  3  1  Learning  9  5  5  6  5  4  1  4  Social  Capital  7  7  8  5  5  2  3  2  Cost of  Lifestyle  2  8  3  5  2  6  6  6  After  Hours  10  5  5  5  3  3  5  5  Around  Town  7  5  6  5  7  6  2  1  Avg.  Score  7.57  5.71  5.29  5.14  4.86  4.43  3.43  3.00 

10 = BEST SCORE Source: Next Generation Consulting

PROSPERITY:
Economic performance and structure, business climate, and entrepreneurship and innovation

Prosperity: Performance and Structure
Des Moines,  Denver,    Madison,  IA CO WI Omaha,     NE Iowa United  States

PROSPERITY: Snapshot data

Employment
5‐year change, Q1 2005‐Q1 2010 Rank

4.16% 1

0.23% 3

‐1.05% 5

0.96% 2

‐0.39% 4

‐2.58% 6

Wages
Average annual wage, 2009 Rank

$44,073 3

$51,733 1

$42,861 4

$40,555 5

$37,158 6

$45,559 2

Wage Growth
%, 2005‐2009 Rank

10.85% 6

12.61% 1

12.17% 3

11.63% 5

12.36% 2

12.00% 4

Worker Productivity
Output per Worker, 2008 Rank

$106,493 $121,951 $98,418 $100,197 $91,040 $105,081 2 1 5 4 6 3

Business Bankruptcies
Rate per 1,000 Establishments, Q1 2010 Rank

5.4 3

10.6 6

5.8 4

5.3 2

3.8 1

6.8 5

Prosperity: Performance and Structure
Central Iowa Private Employment By Business Sector, Q1 2010, 5-Yr Trends
Private Employment, Q1 2010 Average  Annual  Wage $43,220 $39,748 $78,788 $30,122 $56,160 $32,130 $74,818 $20,009 $114,219 $66,711 $38,777 $53,096 $12,911 $49,006 $22,652 $47,007 $45,726 Establish‐ ments 22,769 1,974 1,767 1,358 2,766 271 242 377 221 2,206 954 659 1,703 414 2,855 2,070 799 5‐Year Trend            (Q1 05 ‐ Q1 10)

Business Sector
Total Private

Total 332,335 44,991 49,127 20,992 15,985 6,472 5,528 5,738 2,044 19,973 4,649 10,549 28,322 9,907 45,712 14,237 34,244

LQ 1.00 0.88 2.79 0.95 0.67 0.81 0.93 1.06 0.65 1.16 0.77 0.85 0.83 1.14 1.01 0.86 0.94

Change (#) 2,922 6,586 4,262 3,401 1,573 1,105 700 638 508 (105) (321) (742) (756) (1,110) (2,145) (5,043) (5,844)

1% 17% 9% 19% 11% 21% 14% 13% 33% ‐1% ‐6% ‐7% ‐3% ‐10% ‐4% ‐26% ‐15%

5‐Year Job Growth      Health care and social assistance      Finance and insurance      Administrative and waste services      Professional and technical services      Educational services      Management of companies and enterprises      Arts, entertainment, and recreation      Agriculture, forestry, fishing and hunting 5‐Year Job Loss      Wholesale trade      Real estate and rental and leasing      Transportation and warehousing      Accommodation and food services      Information      Retail trade      Construction      Manufacturing

Source: U.S. Bureau of Labor Statistics and U.S. Census Bureau

Change  (%)

Prosperity:
Business Climate & Small Business Development
• Taxes: Perception of Iowa’s tax environment as anticompetitive

– Ranked 5th worst in U.S. by Tax Foundation’s 2011 State Bus. Tax Climate Index. – $1 million commercial building will be assessed $46,781 in property taxes in Des Moines vs. $21,343 in Omaha, $20,570 in Madison, and $5,185 in Denver. – Net tax expenditures minus credits and federal withholding are less restrictive
• Competitive retail and office lease rates, but a glut of inventory

Downtown worries stakeholders
• Small business development and tech transfer/commercialization must

be optimized
– High per capita small business loan amounts but no prominent “go-to” resource for people looking to start or grow a small business. – Need for an enterprise development support system – Despite improvement, ISU’s IP and Conflict of Interest policies limit research and commercialization efforts

PLACE:
Quality of life, infrastructure, arts and culture, and community capacity

Place: Summary
Des Moines,  Denver,    Madison,  IA CO WI Omaha,     NE Iowa United  States

PLACE: Snapshot data

Cost of Living

Cost of living key selling point Favorable housing appreciation trends Rental market is comparatively affordable, but many residents still pay >30% of their income on rent

C2ER Index (US = 100), 3Q2010 Rank

90.0 2

103.9 4

109.8 5

89.5 1

‐ n/a

100.0 3

Home Prices
Median sale price of single family homes, 2Q2010

Rank

$154,298 $229,258 $213,599 $137,027 2 5 4 1

$173,178 3

Rental Housing Cost
Median Rent

Rank

$619 3

$778 6

$731 5

$611 2

$496 1

$702 4

Health Care Capacity
Physicians per 100K residents, 2010 Rank

227.5 4

238.9 3

334.7 1

242.3 2

175.3 6

220.5 5

Well‐Being Index
Overall Well‐Being Ranking of 185 metros Rank

30 1

52 3

33 2

73 4

‐ n/a

‐ n/a

Crime Rates
Combined Property and Violent Crime Ranking of  332 metros Rank

200 2

168 3

277 1

119 4

‐ n/a

‐ n/a

Philanthropy
Nonprofit Organization revenue per capita, 2010

Rank

$11,685 1

$4,627 6

$11,109 2

$8,307 3

$5,408 5

$5,587 4

Place: Summary
Des Moines,  Denver,    Madison,  IA CO WI Omaha,     NE Iowa United  States

Lower number of doctors per capita Lowest average cost per doctor visit compared to Omaha, Madison, and Denver Health and wellness poised to become a major initiative in the region

PLACE: Snapshot data

Cost of Living
C2ER Index (US = 100), 3Q2010 Rank

90.0 2

103.9 4

109.8 5

89.5 1

‐ n/a

100.0 3

Home Prices
Median sale price of single family homes, 2Q2010

Rank

$154,298 $229,258 $213,599 $137,027 2 5 4 1

$173,178 3

Rental Housing Cost
Median Rent

Rank

$619 3

$778 6

$731 5

$611 2

$496 1

$702 4

Health Care Capacity
Physicians per 100K residents, 2010 Rank

227.5 4

238.9 3

334.7 1

242.3 2

175.3 6

220.5 5

Well‐Being Index
Overall Well‐Being Ranking of 185 metros Rank

30 1

52 3

33 2

73 4

‐ n/a

‐ n/a

Crime Rates
Combined Property and Violent Crime Ranking of  332 metros Rank

200 2

168 3

277 1

119 4

‐ n/a

‐ n/a

Philanthropy
Nonprofit Organization revenue per capita, 2010

Rank

$11,685 1

$4,627 6

$11,109 2

$8,307 3

$5,408 5

$5,587 4

Place: Summary
Des Moines,  Denver,    Madison,  IA CO WI Omaha,     NE Iowa United  States

Metro crime rates are very low However, the City of Des Moines’ combined property and violent crime rates ranked higher than all the comparison cities Strong philanthropic and civic capacities

PLACE: Snapshot data

Cost of Living
C2ER Index (US = 100), 3Q2010 Rank

90.0 2

103.9 4

109.8 5

89.5 1

‐ n/a

100.0 3

Home Prices
Median sale price of single family homes, 2Q2010

Rank

$154,298 $229,258 $213,599 $137,027 2 5 4 1

$173,178 3

Rental Housing Cost
Median Rent

Rank

$619 3

$778 6

$731 5

$611 2

$496 1

$702 4

Health Care Capacity
Physicians per 100K residents, 2010 Rank

227.5 4

238.9 3

334.7 1

242.3 2

175.3 6

220.5 5

Well‐Being Index
Overall Well‐Being Ranking of 185 metros Rank

30 1

52 3

33 2

73 4

‐ n/a

‐ n/a

Crime Rates
Combined Property and Violent Crime Ranking of  332 metros Rank

200 2

168 3

277 1

119 4

‐ n/a

‐ n/a

Philanthropy
Nonprofit Organization revenue per capita, 2010

Rank

$11,685 1

$4,627 6

$11,109 2

$8,307 3

$5,408 5

$5,587 4

Place:
Infrastructure

Highways and roads
– N/S and E/W interstates and loop highway – competitive for logistics and an attractor for manufacturing projects – I-35 corridor could be key link b/w Ames-Story Co. and Greater Des Moines
› “What do you think about the relationship between Des Moines and Ames?” 81.3 % friendly but do not cooperate very often, 5.4% - relationship is strained

Air and rail
– Air cargo capacity allows for growth, but passenger issues related to limited direct flights and high airfares a source of strong stakeholder concern – Strong number of Class I rail lines – hope dimming for passenger rail

Public transit
– Many input respondents want to see more capacity but lack of population density is a challenge

Place:
Livability and Civic Capacity

Arts, Culture and Recreation
– Strong capacity in Greater Des Moines, not just for a “community of its size,” but for a much larger region
› Bravo – regional arts agency – has been effective in coordinating resources and working to increase capacity

– Billions invested in Downtown Des Moines – helping with talent attraction/retention – Miles of bike/walking trails developed – next stage is to close gaps and connect •

Philanthropy and Leadership
– Legacy of strong public and private leadership led to development of numerous community assets and projects – Reportedly, a growing “philanthropic gap” as older generation steps away and next generation of transformative leadership yet to be identified

General Online Survey: Highlights
Place of Residence Place of Employment

Please respond to the following statement:

General Online Survey: Highlights
Overall stakeholder attitudes on quality of place

A ns we r Op tio ns Likelihood you will continue to live in the community Likelihood you will raise children in the community Likelihood your children (once grown) will choose to live in the community Likelihood you will retire in the community

E xc e lle nt 49.8% 50.4% 11.0% 20.6%

Go o d 34.2% 30.9% 28.4% 27.5%

A v e ra g e 9.7% 9.4% 26.2% 20.8%

B e lo w A v e ra g e 3.6% 3.5% 12.2% 10.6%

Po o r 1.8% 3.1% 8.8% 12.3%

D o n’t Kno w 0.9% 2.7% 13.4% 8.3%

General Online Survey: Highlights
Business Climate

Community Climate
A ns we r Op tio ns New members of the community are welcomed The community values persons of diverse races, ethnicities, faiths, and sexual Young professionals are actively engaged in leadership There are opportunities to volunteer your time for worthy causes The public's opinions are valued by government Healthy, active lifestyles are encouraged and supported Stro ng ly A g re e 17.9% 10.7% 13.5% 43.5% 5.8% 15.1% A g re e 54.9% 46.6% 51.7% 48.8% 32.0% 54.8%

N e ithe r A g re e no r D is a g re e 19.4% 24.5% 22.7% 5.8% 31.8% 18.8%

D is a g re e

Stro ng ly D is a g re e 1.4% 3.6% 1.2% 0.4% 9.5% 2.0%

6.4% 14.6% 10.9% 1.5% 20.8% 9.3%

General Online Survey: Highlights
Greatest workforce strength

Most critical workforce weakness

General Online Survey: Highlights
Rank 1 2 3 4 5 6 7 8 9 10 Response Des Moines/Iowa 'image' Unemployment/Lack of jobs Young professionals leaving/attract younger people Educational performance Public transportation Need to revitalize downtown Attracting quality businessess High property and sales taxes Tolerance of diversity Weather Count 192 164 155 109 105 67 78 57 52 45

Most important challenge

Top Opportunity

Rank 1 2 3 4 5 6 7 8 9 10

Response Quality of life Quality of education Family friendly Cost of living Downtown revitalization Workforce/work ethic Outdoor recreation/Bike trails The people Low crime rate Art scene

Count 136 123 120 115 104 81 75 70 67 45

General Online Survey: Highlights
VISION
•A cool, culturally welcoming and diverse place with interesting cities and

scenic rural attractions that offers all people access to world class education, career employment opportunities in 21st Century industries while enjoying a very interesting and stimulating quality of life outside of the workplace.
•I want to be able to brag about my city and how great it is to other young

people. I want to be able to say that, living in Des Moines, so many of the cultural opportunities I am interested in come right to my doorstep. I also want to be able to say that, no matter what your career goal, Des Moines has something to offer.

General Online Survey: Highlights
FINAL THOUGHTS
•Central Iowa has the right people in the right places to accomplish

anything it sets its mind on.
•For the 33+ years that I have lived in Des Moines I have been continually

impressed with the forward thinking and planning that goes on and the resulting progress made. It is and should continue to be an ongoing cycle among Greater DSM and now Central Iowa that continually expands the discussion of what is possible along with what is attainable and doable next.
•Some leaders do not realize they ARE leaders. There should be

mindfulness toward cultivating those who would normally not speak up, but may have the greatest impact if incorporated into this process.

Conclusion: Strengths and Opportunities
• Increasingly diverse population • Competitive school systems • Dynamic higher education resources • Strong work ethic and competitive workforce • A growing base of networked young professionals • Well established, effective economic development programs • Finance and insurance concentration with key diversification opportunities • I-35 corridor potential • Growing number of fast-growing technology start-ups • A dynamic, affordable quality of life – ongoing downtown development • A philanthropic, active civic capacity and respected leadership base

Conclusion: Challenges
• • • • • • •

External perception of Greater Des Moines and Central Iowa Divergent economic/demographic/education trends in City of DM vs. region Potential over-concentration of finance and insurance employment Reportedly “risk-averse” attitudes preventing development of a “culture of entrepreneurship” in Greater Des Moines Lack of connectivity and “go-to” support entity for small business No formalized networking and support system for aspiring entrepreneurs Evolving but still restrictive tech transfer and commercialization at ISU

Conclusion: Challenges
• • • • • •

Perceived tax inequities Above average airfares and a lack of direct flights at DSM Lack of “critical mass” of entertainment amenities and districts YPs often don’t serve as “ambassadors” for Central Iowa Widening “philanthropic gap” as current leaders step aside Persistent “parochialism” that hamstrings regional efforts

Next Steps
Community Leadership Meeting #2
Presentation of the final Capital Crossroads Plan Tuesday, April 26, 2011 5:00-6:00 pm Documents will be posted on the project website:

http://www.capitalcrossroadsvision.com

Questions, comments?

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