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Economic development is a tough animal to really define, whether it's a new restaurant, a manufacturer, business or coffee shop.
Sure, some businesses are built by local residents, but many are not.
I see people commenting all the time on Facebook about what Marshalltown should "go after" for restaurants, etc.
The Marshalltown Area Chamber of Commerce serves as the city's economic development department and we do work closely with them regarding development. Yes, the Chamber reaches out to different businesses that we would like to have here, but in reality, a business or corporation must be in a "growth mode" willing to spend millions of dollars for another location. Just because we want them here, doesn't mean it makes sense for them to invest here. Population, resident incomes, site availability plus a hundred other factors are considered before a dime is spent. The State also sends leads to the Chamber.
Let's look at the 4 phases.
PHASE 1: The "Sniff Around"
In any given month, the Chamber is contacted or hears of several business looking around. Don't get excited though, that business can be looking at 100-200 different cities or counties. Very general information is requested such as site availability, zoning, sewer capabilities, population income etc. We put our best foot forward and have 1 in 200 chance to be a good fit for them. Most you wont hear from again.
PHASE 2: The "Ok, You Got Our Attention, (maybe)”
In this phase, that particular business or restaurant has narrowed its list down to perhaps 4-10 sites that COULD fit for investment. Now, the completion really begins between cities, counties or states. More detailed information is requested, perhaps a visit is arranged, sites may be looked at. The business investment is estimated. Still, no real money is spent. The Chamber is in full engagement and competition with the other sites to bring it to Marshalltown or Marshall County. Now, we have a 10%-25% chance to land the business, manufacturer or City and County leaders may be clued in of the POSSIBILITY and for feedback. Depending on the business, public discussions may be had.
PHASE 3: The "Ok, Let's Start Planning"
Now, the business has chosen Marshalltown or Marshall County as their best choice BUT, if all the planning, monetary estimates, sites plus a hundred other details don't work out, the business will stop and go back to another of their top sites on their list. As all of the details and permits are worked out and the project is real, it is announced to the general public. Some retailers or restaurants want to do the announcement themselves so they can do some type of promotion. Their wishes are ALWAYS granted.
PHASE 4: Construction
This is when most people really notice! Remodeling, dirt work, workers on site. And if you see this, the Chamber has done an excellent job.
"Coming together is a beginning; keeping together is progress; working together is success." --Henry Ford
Mike Ladehoff is the mayor of Marshalltown.