Community Vitality Update

November - December 2007

This newsletter provides community leaders, economic developers, entrepreneurs, and Iowan's interested in community vitality with features on innovative strategies, updates on CVC projects, and info about opportunities for learning and networking.

Community Philanthropy Academy slated for Feb. 4, 2008 at Hotel Ft Des Moines. A fourth annual Community Philanthropy Academy has been scheduled for February 4, 2008 at the Hotel Fort Des Moines. This year Nancy Straw President and CEO of the West Central Initiative in Minnesota and Maxine Moul, President emeritus from the Nebraska Community Foundation will be keynote speakers. The Academy is tentatively scheduled to begin at 10:00 AM and adjourn at 4:30 PM. A Philanthropy Legislative Reception is being planned for Finkbine Mansion following the Academy. The Academy highlights philanthropy pilot projects, success stories and best practice tools. In addition to networking opportunities, there will be highlights from last year’s performance, legislative policy updates, and reports on new initiatives for the coming year. So save the date: Feb. 4, 2008.

“Entrefest” Event scheduled for Feb. 21-22 at Pipac Center Cedar Falls. A collaboration involving a wide array of entrepreneurial development interests have joined forces to plan the first ever Iowa Entrefest. Since 2003, CVC and other collaborators have planned and sponsored an annual Community Entrepreneurship Academy. While the Community Entrepreneurship Academies have been successful, some leaders have encouraged the development of a broader collaboration with MyEntreNet and others to create an event that is even bigger and better. As a result, nearly 2 dozen collaborators and sponsors have folded their efforts into planning a new event called, “Iowa Entrefest.” The event is being planned for the Pipac Center off Hwy 20 on Hudson Rd in Cedar Falls. Program announcements with topics and speaker bios will soon be available. Entrepreneurs and Entrepreneur Support Networks and Programs will not want to miss this event. So save the date: Feb. 21-22, 2008.

Microenterprises Account for 85.9 Percent of Iowa Businesses. A microenterprise is a business with five or fewer employees. A recent analysis of U.S. Department of Commerce data by the Association for Enterprise Opportunity indicates that there are 232,325 microenteprises in Iowa. Microenterprises provide 308,168 jobs and account for 16.8% of all jobs in Iowa. Microenterprises as a percent of all businesses varies by county, ranging from 82 percent to 93 percent. CVC compiled county ranks for microenterprise and population. Rural counties tend to have a smaller county population size and a higher level of microenterprises as a percentage of all county businesses. Click on here to get it (Microsoft Excel file)

CVC Board Approves Iowa Foundation for Microenterprise Initiative. The CVC Board has approved the plans for establishing a new statewide nonprofit foundation to facilitate microenterprise and community vitality. Availability and access to capital particularly for small businesses has been identified as one of the gaps in Iowa’s entrepreneurial development system from CVC co-sponored surveys of Iowa bankers (See: Survey Summary of Iowa Banker Attitudes and Perceptions on Entrepreneurial Finance pdf file) and interviews with technical assistance providers. Articles and Bylaws have been drafted for the new entity and a detailed business plan is under review by stakeholder groups. The plans have emerged from a 1 ? year long collaborative project. Seed funding and Steering Committee representation came from a number of diverse interests including the Leopold Center, ISU Extension, various Colleges and Centers; Iowa Bankers Association, Iowa Area Development Group, Federal Home Loan Bank, Iowa SBDCs, Community Development Financial Institutions, and others. The new entity would seek to complement existing entrepreneurial technical assistance expertise networks and multiply the benefits of existing capital and technical assistance providers by enhancing communication, providing incentives for collaboration, and improving access to capital. The initiative seeks to coordinate technical assistance for microloan clients at risk-adjusted market rates and facilitate graduation of loan clients to commercial lenders as enterprises become sustainable. For more information about this new project email us at cvc@iastate.edu.

Sigourney Charter School Develops Entrepreneurs. One of the inspiring presentations at this year’s Fairfield Entrepreneurs Association National E-Gathering Workshop was Sigourney Iowa’s charter school. Sigourney has launched something unique for Iowa an entrepreneurial charter school in a rural community setting. This program has generated student and parent involvement as well as community participation. The first semester courses have been completed and plans for next semester include development of a business incubator. The program is the brainchild of Todd Abrahamson, the superintendent. Students attend classes which provide entrepreneurial training. Students draft their business plans and obtain project approval. The student teams then seek startup loans from a local lender with the school program as a note co-signer to open their business. Approximately 75% of the students in the school choose to participate in the entrepreneurial charter school programs. Mentors are brought in from the community and partners include the University of Iowa John Pappajohn Center and Indian Hills Community College. Course topics include writing business plans, entrepreneurial skills, leadership, and financial management. The program is offered for grades 7 -12 now and may expand to include grades 5 and 6. According to Abrahamson, “Some of the students who were at risk for dropping out, are now wanting to go to college because they see the relevance of the program.” Some of the student business ideas include marketing an auger which runs off a pickup truck, selling quail eggs to upscale restaurants, web design services, landscaping, snow removal, and bringing a new type of hog gate to market. For more information contact Superintendent Abrahamson by email abrahamsont@aea15.k12.ia.us.

Family Factors and Moving in Nonmetro Iowa: Report # 3 is now available. People moving into Iowa from other states are moving for different reasons than people who move from Iowa’s nonmetro counties. Would a dual promotion strategy work for retaining and attracting more people in Iowa’s nonmetropolitan communities?