Economic Development is Business Recruitment

One of the major staples of any economic development organization is business recruitment. Often, business recruitment is the most publicly acknowledged component of the organization because of the interest and excitement generated from a new business coming to town. Though the most attention is paid to this portion of an organization, it only accounts for ten percent of job growth within a community. We have been fortunate in Ames to be a magnate for new opportunities, and with the addition of Prairie View Industrial Center, we are poised for more opportunities than ever.
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When we think of the impact that business recruitment has on our communities we think of great successes like Barilla or 3M that have become powerhouse manufacturers for our community. Where Ames has seen the most success for recruitment has been at the ISU Research Park. Legacy companies from throughout the State of Iowa and beyond continue to seek out and open locations due to access to research and students for their continued success. As the park has grown, those companies have continued to make investments in new facilities.

More traditional business recruitment has focused on available land or speculative buildings. Such examples include NextEra Energy in Story City, or Priority Envelope in Nevada. With the new addition of Prairie View Industrial Center, the opportunity for Ames and Story County to see major industrial growth is just beginning. Since the onset of COVID-19, we have seen a major shift in our expectations for business recruitment. With the strain placed on global supply chains, we see an increased opportunity for re-shoring of manufacturing to ensure reliable supply chains. Additionally, the opportunity for foreign direct investment by foreign based companies looking to establish significant presence in the United States has never been more opportune.

Story County is incredibly well positioned to recruit new companies that will continue to be industry leaders and innovators. With strong partners and willing stakeholders, we will continue to find success within our business recruitment program.