WEDNESDAY, JULY 22, 2020 | IN THIS ISSUE

• Alliant announces net-zero power generation goal
• Mayor issues mask order for Iowa City
• New M&A alliance formed for lower middle market
• Amazon names Iowa top state for digital entrepreneurs
• Point Builders adds business development director
• Corridor events, KCRG-TV9 headlines and First Alert Forecast
Alliant announces net-zero power generation goal
Alliant Energy announced a corporate goal to achieve net-zero electricity generation in 2050 and raised its goals for reducing carbon dioxide emissions and eliminating its burning of coal in a new corporate responsibility report issued today.
 
The report cites a new “Clean Energy Vision” with a 2030 goal of reducing carbon dioxide emissions by 50%, up from a goal of 40% in last year’s report, and of eliminating coal from its generation fleet by 2040, up from a prior goal of eliminating coal by 2050.
 
Lowering carbon emissions from power generation is seen by scientists as one of the critical factors in slowing the rate of climate change, and coal combustion is the greatest emitter of carbon dioxide in power generation. Alliant says cleaner air is part of its commitment to “serving customers and strengthening communities.”
 
Achieving the net-zero carbon emissions goal won’t mean eliminating all carbon-emitting generation sources from Alliant’s generation fleet, according to Jeff Hanson, director of environmental services and corporate sustainability for Alliant. Rather, the company expects to offset carbon emissions from natural gas generation, for instance. That could include the use of carbon sinks, such as tree and vegetation plantings.
 
Alliant’s ability to set higher goals is largely due to its deployment of renewable energy technologies – primarily wind energy in Iowa and solar in Wisconsin. The utility has deployed 1 gigawatt of wind energy in Iowa, and is in the process of deploying 1 gigawatt of solar energy in Wisconsin.
 
The company recently hit its goal for achieving 30% of its power from renewables 10 years earlier than expected, according to Jim Gallegos, executive vice president and general counsel for Alliant. He said the company’s roadmap to achieving the 2030 and 2040 goals is largely defined, however Alliant will be looking at studying and engaging in stakeholders to determine how best to achieve the net zero goal in 2050.
 
The report offered no details on how the new goals will affect specific power plant retirements, but more information will be released as it becomes available on that front, according to the company.

IMAGE: A technician stands below an Alliant-owned wind turbine in northern Iowa. CREDIT ALLIANT
Mayor issues mask order for Iowa City
People conducting business or gathering in a public place in Iowa City must now wear a face covering, according to an order issued Tuesday by Iowa City Mayor Bruce Teague.
 
The order states that a face covering that covers the nose and mouth must be worn in all public spaces, including grocery stores, pharmacies, hardware and retail stores, and on public transportation. People outside must wear a mask if keeping six feet away from others is not possible.
 
No business open to the public may provide service to a customer or allow a customer to enter without the customer wearing a face covering, according to the order. Businesses must also post signs at the entrance of their business to instruct customers of the legal obligation to wear face covering.
 
People are exempt for the face covering order when:
 
  • alone or in presence of only household members
  • traveling in personal vehicle alone or with household members
  • jogging or biking outside
  • at a restaurant in the process of eating or drinking
  • obtaining a service that requires temporary removal or a face coverings, such as a dentist or doctor visit
  • federal or state law prohibits a face covering
 
Exceptions to the mask mandate include:
 
  • Anyone two-years-old or younger
  • Anyone with trouble breathing, on oxygen or a ventilator
  • Anyone who is unconscious, incapacitated or others unable to remove a face covering without assistance
  • Anyone who has been told by a medical, legal or behavioral health professional not to wear a face covering
  • Anyone actively engaged on a public safety role, including but not limited to law enforcement, firefighters, or emergency response personnel
 
Pursuant to city code, a violation of the order given can be punishable as a simple misdemeanor. The order is set to expire Sept. 15, 2020.
 
The mayor’s order defies an earlier order from Gov. Kim Reynolds, which says that local officials do not have the authority to mandate masks , news partner KCRG-TV9 reports. Iowa City’s local mandate is the second in the state, following one instituted in Muscatine by Mayor Diana Broderson on July 5.

IMAGE: Iowa City Mayor Bruce Teague announces his new mask order for the city on Tuesday. CREDIT KCRG-TV9
New M&A alliance formed for lower middle market
A new international mergers and acquisitions alliance focused on the lower middle market has been formed by a group of 17 M&A and investment banking firms around the country, including one with offices in the Corridor.
 
The group, called the Cornerstone International Alliance (CIA), was spearheaded by Scott Bushkie, managing partner and founder with Cornerstone Business Services, an M&A advisory firm with offices in Green Bay, Wisconsin, Orange County, California, and Tipton, Iowa, and a contributor to the CBJ’s column pages . The CIA will be “dedicated to facilitating the success of its members through access to global industry experts, tools, content, best practices and enhanced buyer and seller reach,” according to Mr. Bushkie.
 
Alliance members work with business owners of firms with $500,000-$10 million of earnings before interest, taxes, depreciation and amortization (EBITDA), or $5 million-$150 million in revenue. Partners in the alliance include:
 
  • Agency Brokerage Consultants (Rockledge, Florida)
  • Business Transitions Strategies (Pembroke, New Hampshire, and Andover, Massachusetts)
  • Centurion 7 (Roseville, California)
  • Cornerstone Business Services (Green Bay, Wisconsin, Orange County, California, and Tipton, Iowa)
  • Delta Business Advisors (Scottsdale, Arizona)
  • Exit Strategies Group (Petaluma, Roseville and San Jose, California, Camas, Washignton)
  • Kingsbridge Capital Partners (Kansas City, Missouri)
  • Kingsley Group (Springfield, Missouri)
  • Murphy McCormack Capital Advisors (Lewisburg, Pennsylvania)
  • Strategic M&A Advisors (Ridgeland, Mississippi, and Little Rock, Arkansas)
  • Tennessee Valley Group (Franklin, Tennessee)
  • The Hughes Group & Associates (Edmond, Oklahoma)
  • The NYBB Group (Melville and New York, New York)
  • The Woodward Company Inc. (Grosse Pointe Farms, Michigan)
  • Touchstone Advisors (Enfield, Hartford and New Haven, Connecticut, and Marlborough, Massachusetts)
  • Transitions in Business (Edina, Minnesota)
  • Walden Businesses Inc. (Atlanta, Georgia)
 
Together, alliance companies have more than 825 years of combined M&A experience and more than 3,200 deals completed, according to Mr. Bushkie.
Amazon names Iowa top state for digital entrepreneurs
A new analysis by Amazon finds that Iowa leads the nation in the per-capita number of small and medium-sized businesses selling through the tech giant's online platform, and that Iowa businesses are growing their sales the fastest on average among Amazon stores.
 
Iowa is home to nearly 10,000 small and medium-sized sellers on Amazon, earning it the top ranking for the most digital entrepreneurs per capita. That was followed by Delaware (with more than 3,000 sellers), California (over 100,000) and Wyoming (more than 1,000).
 
Iowa sellers also reported the fastest year-over-year growth, at 57%, as shoppers increasingly shifted their purchases online amid the COVID-19 pandemic. That was followed by sellers in Washington (56% growth), Alabama (53%) and Virginia (50%).
 
"Iowa is home to thousands of small and medium-sized businesses selling in Amazon's stores, and we're working hard to support their growth despite the global pandemic," said Keri Cusick, head of small business empowerment at Amazon, in a release. "Both top 10 lists we revealed today demonstrate innovation in every corner of the country, with states like Iowa, Delaware, Wyoming, and Alabama coming out on top."
 
Tahmi DeSchepper, one of more than a dozen Fairfield-based retailers selling products through Amazon, was quoted saying that her handmade jewelry business doubled its sales last year, and that she is expecting another 50-75% increase in sales this year, despite the pandemic.
 
"It's always surprising to see what interesting businesses selling in Amazon's stores are hidden in all the different nooks and crannies around town," Ms. DeSchepper added.
 
Small and medium-sized businesses selling in Amazon's stores come from every state in the U.S., and more than 130 countries around the world. In 2019, more than 15,000 American small and medium-sized businesses exceeded $1 million in sales in Amazon's stores worldwide, and nearly 25,000 surpassed $500,000 in sales. Products from small and medium-sized businesses make up more than half of all items sold in Amazon's stores worldwide.
 
The company has been ramping up its operations in Iowa in recent years, and in February announcing plans to open a 780,000-square-foot fulfillment center in the state in the city of Bondurant. The company has also added delivery stations in Iowa City and Grimes.

IMAGE: A chart showing the top 10 states with the most digital sellers on Amazon per capita. CREDIT AMAZON
Point Builders adds business development director
Scott Naumann has joined Point Builders as director of business development, working
from the firm’s Quad Cities office.
 
Mr. Naumann has an extensive sales career and is active in service in the Quad Cities. In 2009, he was elected as Bettendorf’s Second Ward Alderman, and currently serves as Mayor Pro-Tem. He serves on the boards of the Handicapped Development Center, Scott Community College Foundation, is past president of the Iowa League of Cities and is the ex-officio board member of the Scott County Regional Authority. He is also a member of Gov. Kim Reynolds’ Broadband Economic Development Committee.
 
“Scott takes a solutions approach to business development. He asks what challenges a business owner is facing and works with our entire team to find solutions,” said Chris Wheeler, president of Point Builders, in a release. “Many times a business is not operating to its fullest capacity because the space is not properly utilized or large enough. Scott can see how a remodel or addition can transform a business and helps owners reach their full potential.”
 
Point Builders serves clients throughout Iowa and Illinois from its offices in Cedar Rapids and Davenport. Industries served by Point Builders include office, manufacturing, warehouse and distribution, retail, religious, educational and municipal.
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Short Term Event Planner
 
July 23
Ignite Your Shift: Overcoming the Discomfort of Change , by Women Lead Change, 8-10 a.m., online. Anne Bonney, author of “Get Over It!,” will speak. Learn how to shift your culture to one of acceptance and engagement, alleviate the burden of stress caused by change, and reduce talk that negatively influences attitudes, communication and results. Tickets: $50. To register, visit bit.ly/2WkTM1H . 
 
Remote Leaders Online Roundtable , by Executive Coach Jennifer Zach, 10-10:20 a.m., online. Touch base with other leaders who are leading remote teams, exchange resources and share what's on your mind. Free. To join, visit bit.ly/3j5gXqm . 
 
July 24
Cybersecurity Intern Series: Interviewing and Networking Tips for Security Roles , by the Technology Association of Iowa, 1-2 p.m., online. The session will focus on recruiting tips and networking. Free. To register, visit bit.ly/38XVwCZ . 
 
July 28
Hiawatha Business Summit , by Hiawatha Economic Development Corp., city of Hiawatha and Cedar Rapids Metro Economic Alliance, 8 a.m., online. Mary Lund, manager of Stillwater Coffee, will present “ Windows of Opportunity – How to See Chaos as an Opportunity to Innovate.” Free. To register, visit bit.ly/2YLKfCB .
See something we missed?
Send tips, leads,  corrections,  etc. to  news@corridorbusiness.com .
Headlines from KCRG-TV9
These news items are provided by KCRG-TV9  
 
Fire crews in Cedar Rapids responded to a fire at 6 a.m. today. Firefighters said there were reports of smoke and fire at a vacant one-story home located at 2390 Rompot St. SE. The fire was extinguished quickly, but there was extensive damage to the side of the structure and moderate damage to the interior. No one was inside the home and no one was injured. The cause of the fire remains under investigation.

Need Pizza in Cedar Rapids is closing for a few days after one of its staff members tested positive for COVID-19. In a Facebook post, Need Pizza said it will take the next few days to deep clean the entire restaurant in keeping with recommendations from the Linn County Public Health Department and the CDC. Staff had been wearing masks and gloves in addition to regular cleaning and maintaining social distancing measures over the past few weeks. As a result of the positive COVID-19 test, the restaurant said it will be returning to a “takeout only” model until further notice once it does reopen.

These news items are provided by KCRG-TV9
Your KCRG-TV9 First Alert Forecast
Humidity levels will be dropping throughout the day today, making way for a very comfortable afternoon. Highs will be in the upper 70s and low 80s across the area with plenty of sunshine. Mainly clear skies, leftover moisture and light winds could allow for some patchy dense fog to form across Eastern Iowa. Valleys look to have the highest risk, but any cornfields or surrounding areas could also see some fog. Lows drop into the upper 50s. Another nice day ahead for Thursday, highs will continue to be in the low 80s with a mix of sun and clouds.