Celebrating Success as Cedar Rapids Remains Open for Business
Nov 25, 2019
“A rising tide lifts all boats” is one phrase often used to describe economic development projects - both with existing business expansion and new business attraction. Growth projects create jobs and bring capital investment, ultimately flowing more dollars into our economy. Every project is a cause for celebration.
Four Recent Projects Approved Represent Nearly $55
We’re proud to end 2019 on a high note, with the Cedar Rapids City Council voted in favor of nearly $55 million in expansion projects for four area businesses during November’s Council meeting, including the Cargill rail yard. The Council voted in favor of the Cargill rail yard at the December 3 Council meeting as well. The project awaits official approval pending a third and final vote at the December 17 City Council meeting. These projects cover a wide variety of industries in our community, including small business and large agribusiness. These projects cover a wide variety of industries in our community, including small business and large agri-business. With each new job and every dollar of capital investment, opportunities expand for Cedar Rapids workers and families and a larger tax base keeps taxes on homes lower.
The world of economic development is competitive. Given the chance, other regions would jump at the chance to court our area’s largest employers. Our region has a high-quality workforce, available land for development, excellent schools, the list goes on. A business-friendly climate is always a factor when businesses select where to expand.
Existing businesses represent some of our largest potential for economic growth. Business expansion and retention projects can mean building out an existing location, creating new jobs within a current facility or building a second location in the area. Driving around the Cedar Rapids metro, it’s impossible to not see signs of growth like construction sites and renderings for new or enhanced buildings. Great things can happen when we are open for business. Success breeds success and can contribute to a positive cycle of growth and attraction to our business community.
Building to a Billion and Beyond
The Economic Alliance compiles and celebrates expansion projects in recent years in our metro area cities and throughout the region’s business community, and currently totals $1.85 billion in capital investment. Listing them all together in our “Building to a Billion and Beyond” report makes for an impressive list and shows the health of our economy. In 2019 alone, we list information on 35 economic development projects in the Cedar Rapids metro that include $588.5 million in capital investment. Click here to read the latest version of Building to a Billion and Beyond.