FRIDAY, NOV. 1, 2019 | IN THIS ISSUE
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Iowa ranked among 10 worst tax climates in new index
• Target Freight acquires freight auditing and payment service
• CBJ Report on CBS2/FOX 28: Havenpark, immigrants, Halloween candy
• ProCircular expands staff to stay on cybersecurity's 'cutting edge'
• Alliant Energy releases plan to speed clean energy transition
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Iowa finishes among 10 worst tax climates in new index
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Iowa finished near the bottom in the Tax Foundation's latest
State Business Tax Climate Index
, an annual measure of how well states structure their tax systems.
The Hawkeye State is the nation's eighth worst-ranked state when it comes to taxation, according to the index, which cited complex, non-neutral taxes with comparatively high rates for Iowa's poor showing.
Iowa was ranked 48th in the country in terms of corporate taxes, 42nd on individual taxes, 15th on sales taxes and 35th for both property taxes and unemployment insurance taxes.
The Tax Foundation notes the state's position is likely to improve, with this year marking the first phase of a tax reform package that will ultimately convert the state’s nine-bracket individual income tax, with a top rate of 8.98%, to a four-bracket tax with a top rate of 6.5%.
Reforms also include increasing Section 179 small business expensing and eliminating the state’s policy of federal deductibility.
"Modest sales tax base broadening also features in the package, and the corporate rate will decline from 12 to 9.8%, though that rate reduction remains several years out," the Foundation wrote in its executive summary, adding Iowa had already moved up one slot this year - from 43rd to 42nd. "Further improvements can be anticipated once additional reforms phase in."
IMAGE: A map showing the 10 best tax climates (in blue) and the 10 worst (in dark gray), according to the Tax Foundation. CREDIT TAX FOUNDATION
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Target Freight acquires freight auditing and payment service
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Target Freight Management Inc. has acquired National Traffic Service Inc. (NTS), a freight auditing and payment service, reports the
Des Moines Business Record
.
The acquisition will better serve the end-to-end logistical needs of TFM’s less-than-truckload, full truckload and parcel freight customers throughout the United States and Canada, the companies said in a
news release.
TFM, which has a Cedar Rapids office, will acquire all NTS assets, and will continue to offer existing services under the TFM brand.
NTS, based in Amherst, New York, processes 20 million domestic and international bills annually, representing more than $1 billion in freight for over 200 companies in North America last year.
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CBJ Report on CBS2/FOX 28: Havenpark, immigrants, Halloween
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In this week's CBJ Report on CBS2/FOX 28, reporter Katharine Carlon discusses
Havenpark Capital Partners' purchase of another Corridor mobile home park, a new report highlighting the economic impact of immigrants in Linn County and consumers doubling down on sweet Halloween treats this year. Watch the full report
here
.
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ProCircular expands to stay on cybersecurity's 'cutting edge'
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Coralville information security firm ProCircular yesterday announced the addition of new staff and the creation of several new positions.
New staffers at the firm include:
- Brandon Potter as chief technology officer. Mr. Potter was previously an executive consultant at Bancsec Inc. where he led penetration testing, red team engagements and oversaw incident response.
- Kevin Wolfe and Jonathan Peters, former interns from the University of Iowa, as full-time employees in the company's Security Operations Center
- Kaitlin Jones, formerly with ITS at the University of Iowa, as a lead SIEM engineer
- Michael Hoffman, a graduate of the University of Iowa, as a project manager
- Eric Schlichte as part-time strategic adviser
ProCircular also plans to expand its governance, risk and compliance offerings with the addition of a new chief information security officer, as well as several yet-to-be-announced positions in engineering and operations.
“These critical additions to our team allow us to continue to make sure our clients have access to the best people in the field and ensure ProCircular is working to stay on the cutting edge of the cybersecurity industry, ”Aaron Warner, ProCircular's CEO, said in a release.
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Alliant Energy releases plan to speed clean energy transition
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Alliant Energy has released a new plan aimed at accelerating the utility's transition to cleaner energy for its customers.
The plan, titled "Powering What's Next," highlights five key areas of focus in helping customers and communities participate in a more sustainable energy future: clean energy, customer choice, smarter energy use, community involvement and conversions to cleaner fuels.
“We’re accelerating our transition to a clean energy future and putting renewable energy to work for our customers,” Alliant President and CEO John Larsen said in a release. “For more than 100 years, our mission has been to deliver safe, reliable and affordable energy services. Powering What’s Next is our purpose-driven approach to serving customers and strengthening communities, creating optimism for the future.”
The first milestone of the plan involves expanding Alliant's Wisconsin solar energy generation by up to 1,000 megawatts by the end of 2023. Alliant will locate its first Wisconsin Community Solar installation in Fond du Lac County and break ground in 2020.
As part of that effort, Alliant created a Clean Energy Blueprint for Wisconsin customers, providing the underlying analysis for accelerating the transition to renewable energy as well as plans for modernizing the grid through technology enhancements.
It will begin studies in January 2020 to develop its Clean Energy Blueprint for Iowa.
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Nov. 1
RSM Ribbon Cutting
, by Iowa City Area Chamber of Commerce, 3-5 p.m., RSM US LLP, 404 E. College St., Suite 300, Iowa City. Free. For information, visit
bit.ly/2qeZ41v
.
Nov. 6
1 Million Cups
, by 1MC Cedar Rapids, 8:15-9:15 a.m., Geonetric, 415 12th Ave. SE, Cedar Rapids. Join for community connections, free coffee and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit
facebook.com/1MCICR
.
1 Million Cups
, by 1MC Iowa City, 9-10 a.m., MERGE, 136 S. Dubuque St., Iowa City. Join for community connections, free coffee and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit
facebook.com/1MillionCupsIC/
.
Make Your Mark
, by ImpactCR, 5-7 p.m., The Hotel at Kirkwood Center, 7725 Kirkwood Blvd. SW, Cedar Rapids. Celebrate achievements by the Cedar Rapids Metro Economic Alliance’s young professionals group, and preview new things to come in 2020. Free. For information, visit
bit.ly/32jnQMc
.
Nov. 7
A Toast to Our Communities Awards Breakfast
, by Iowa City Area Chamber of Commerce, 7:30-8:30 a.m., Celebration Farm, 4696 Robin Woods Lane NE, Iowa City. This annual awards ceremony will acknowledge outstanding businesses, organizations and individuals. Tickets: $25-$35. To register, visit
bit.ly/2MnsuBX
.
Wake Up Marion
, by Marion Chamber of Commerce, 8-9 a.m., Scout of Marion, 725 11th St. Get to know Scout owner Nikki Kettelkamp while enjoying conversation with other Marion Chamber members. Free. For information, visit
bit.ly/2nGpmch
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Direct Mail, The Comeback
, by SCORE of East Central Iowa, 11:30 a.m.-1 p.m., HyVee, 5050 Edgewood Road, Cedar Rapids. Learn how direct mail works, how to obtain a targeted direct mail list, when to use direct mail and more. Free. To register, visit
conta.cc/2MF32ba
.
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Headlines from CBS2/FOX 28
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These news items are provided by CBS2/FOX 28
A second person connected to the murder of Linn County man Chris Bagley is now facing charges. According to Linn County Attorney Jerry Vander Sanden tells CBS2/FOX 28 Paul Hoff has been indicted by a Linn County grand jury, accused of obstructing prosecution and abuse of a corpse. On Wednesday, Drew Blahnik was also indicted on charges including first-degree murder, obstructing prosecution and abuse of a corpse. Court records show Mr. Bagley was last seen at a mobile home owned by Mr. Hoff on Dec. 14, 2018. His remains were recovered from a home on Soutter Avenue SE in Cedar Rapids on March 1. Mr. Vander Sanden said he could not confirm or deny whether there are any additional indictments at this point. Read the full story
here
.
An Urbana woman was taken to the hospital with serious injuries after her vehicle lost control on icy roads and slid into oncoming traffic. The Black Hawk County Sheriff's Office says Anna Bindert, 27, was heading north on Interstate 380 when she lost control and crossed the grass median into the southbound lanes. Her car collided with a car heading south driven by a Waterloo couple. They both were taken to a Waterloo hospital with non-life threatening injuries. Ms. Bindert was later transferred to Iowa City with serious injuries. The crash happened at 6:50 Thursday morning around mile marker 58 when much of Eastern Iowa was still getting upwards of five inches of snow. The southbound lanes of I-380 were closed until 11 that morning.
These news items are provided by CBS2/FOX 28
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CBS2 Weather First Forecast
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The cold will be sticking around for the next week with a few chances of wintry precipitation. Clouds will begin to move in this morning ahead of a weak system. It will be cold again with temperatures in the upper 30s to low 40s. There won't be a ton of moisture, but a few, light scattered rain and/or snow showers will be possible after 3 p.m. Precipitation will wind down late this evening and it will be cloudy and cold overnight. There may be a few flurries into Saturday morning. High pressure will move in for the weekend and it will be quiet. Temperatures will be near 40 Saturday with mid to upper 40s Sunday under partly cloudy skies.
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