MONDAY, DEC. 21, 2020 | IN THIS ISSUE
• Eco Lips wins IEDA tax credits for relocation, expansion
• CBJ Podcasts: Diversity Straight Up with Alanna Arrington
• Iowa home sales up 15%, new report shows
• UIHC opens new infertility clinic in West Des Moines
• CBJ announces 2021 Economic Forecast Luncheon livestream
• Corridor events, KCRG-TV9 headlines and First Alert Forecast
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Eco Lips wins IEDA tax credits for relocation, expansion |
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The Iowa Economic Development Authority has awarded tax credits to organic lip balm manufacturer Eco Lips in support of the company’s plans, first reported in the Corridor Business Journal, to expand and relocate its operations from Marion to Cedar Rapids.
The credits to Eco Lips, approved by the IEDA Friday, come from the state's High Quality Jobs Program and will help fund $5.66 million in capital investment, including $3.65 million to purchase Eco Lips' new site, $663,000 in building remodeling costs and $1.4 million in new machinery and equipment.
Eco Lips, which relocated in summer 2018 from the Cherry Building in Cedar Rapids' NewBo District to a 35,000-square-foot building at 1199 44th St. in Marion, announced plans last week to acquire and modernize the former Hunter’s Specialties facility at 6000 Huntington Ct. NE.
The company is currently leasing several Marion locations with a combined square footage of about 36,000. The relocation to Cedar Rapids will allow the company to double in size to nearly 87,000 square feet and consolidate locations.
The project will create 13 new jobs paying above the High Quality Jobs program threshold of $23.40 an hour.
“Eco Lips is expanding and growing more than 20% year over year,” Eco Lips co-founder and CEO Steve Shriver said, adding the company hit both the CBJ's Fastest Growing Companies list (No. 8) and the Inc. 5000 in 2020. “We've had our eye on this beautiful building in Cedar Rapids ... where we are able to move everything under one roof.”
PHOTO: EcoLips, which moved operations to Marion in 2018, has been awarded tax credits from the Iowa Economic Development Authority for its plans to relocate operations to Cedar Rapids. The company has announced plans to purchase and retool the former Hunter's Specialties facility at 6000 Huntington Ct. NE to accommodate rapid expansion. CREDIT GLD COMMERCIAL
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CBJ Podcasts: Diversity Straight up with Alanna Arrington |
In the latest episode of "Diversity Straight Up," hosts Sarika Bhakta and Anthony Arrington talk with Alanna Arrington, Anthony’s daughter, about her life as a global supermodel and diversity and equity issues in the world of high fashion.
Season 2 of Diversity Straight Up is brought to you by GreenState Credit Union and sponsored by Alliant Energy. Additional support is provided by the city of Cedar Rapids.
PHOTO: Alanna Arrington. CREDIT ALANNA'S FACEBOOK PAGE
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Iowa home sales up 15%, new report shows |
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Iowa’s real estate market continued a strong 2020 surge in November, with home sales up 15%, according to the Iowa Association of REALTORS® Housing Trends report released Monday.
In November, 3,727 homes were sold in Iowa compared with 3,228 home sales in November 2019, according to the report. The median sales price was $180,000, up 9.4% compared with a year ago, and pending sales were 14.8% higher than last year, which bodes well for a strong finish in December, IAR officials said.
"Iowa’s real estate sales continues to be very strong in most areas of the state,” IAR President Jen Burkamper said in a release. “For three months in a row, we have had near record-lows for the number of days on market. It has been two and half years since we have seen homes selling this fast.”
Statewide, 42,219 homes have been sold so far in 2020, up 8.3% so far this year compared to the first eleven months of 2019.
Homes were on the market for an average of 48 days last month, improving last year’s pace by 11 days.
Total number of homes available on the market remains tight in many price ranges, IAR officials said, with home inventory down 30.1% compared to November 2019.
“We are in a unique situation this year,” Ms. Burkamper added. “Buyers are attracted by the extremely low interest rates, while the low number of homes creates a seller’s market.”
Read the IAR’s detailed statewide market report here.
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UIHC opens new infertility clinic in West Des Moines |
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University of Iowa Health Care has opened a new infertility clinic in West Des Moines, providing a range of diagnostic and therapeutic options for infertility.
The UI Center for Advanced Reproductive Care, at 1225 Jordan Creek Parkway, Suite 120, offers a full spectrum of services, including infertility diagnosis and treatments, such as intrauterine insemination and monitoring for in vitro fertilization (IVF) and fertilization preservation treatments.
The UI Center for Advanced Reproductive Care was established in 1987 and includes locations in Iowa City and Davenport. UI Health Care’s IVF program consistently reports pregnancy success rates higher than the national average, and the center was the first location in Iowa to establish a formal donor embryo program.
“We’re excited to bring our infertility expertise to the Des Moines area,” reproductive endocrinologist Abigail Mancuso, MD, said in a release. “This new location will better serve patients in central Iowa and provide them with innovative infertility care.”
PHOTO: University of Iowa Health Care's new infertility clinic in West Des Moines. CREDIT UIHC
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CBJ announces 2021 Economic Forecast Luncheon |
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The Corridor Business Journal (CBJ) announces its 2021 Economic Forecast Luncheon livestream, to be held Jan. 20 from 11:45 a.m.-1:15 p.m.
This free virtual event invites a keynote and panel to share their insights into where the economy is heading under the Biden administration and the biggest opportunities and challenges facing their industries and the Corridor.
Gary Hufbauer, a nonresident senior fellow with the Peterson Institute for International Economics, will kick off the program with a keynote address on what’s ahead for the Biden administration and trade in the new year. Mr. Hufbauer was the institute’s Reginald Jones Senior Fellow from 1992-2018, and before that held leadership and research positions with the Council on Foreign Relations, Georgetown University and the U.S. Treasury. He has written extensively on trade, investment and tax issues, coauthoring more than a dozen books.
Following Mr. Hufbauer’s remarks, Jack Evans, chairman of The Hall-Perrine Foundation, will moderate a local business leaders panel discussion. Panelists include:
- Joe Ahmann, owner and president of Ahmann Companies
- Jennifer Bennett, president of Shive-Hattery
- Mike Gerdin, president and CEO of Heartland Express
- Suresh Gunasekaran, CEO of University of Iowa Hospitals & Clinics
- Mike Ralston, president of Iowa Association of Business and Industry
Traditionally the CBJ’s largest event of the year, the format of this event has changed to a livestream for the safety of speakers, staff and attendees. There is no cost to register. Registrants who cannot watch live will be sent a link after the event to watch the program on demand. For more information or to register, visit www.corridorbusiness.com/corridor-economic-forecast-luncheon/ or call Ashley Moore at (319) 665-6397, ext. 311. Registration ends Jan. 18.
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Connect with the CBJ
The CBJ’s mission of informing and connecting the Corridor’s business community is more important than ever. Our news operations will continue researching and reporting on the impacts of the COVID-19 pandemic through our multiple distribution channels. Here’s how you can connect with us today and moving forward:
- You can reach our newsroom directly with leads, updates, cancellations, etc. at news@corridorbusiness.com.
- Our comprehensive, deep-dive content continues in our weekly CBJ. If you are not a digital subscriber, you can sign up here.
- Our daily news coverage solution is spread throughout the week with our free e-newsletters. If you have not already signed up, you can do so here.
- Updated coronavirus information will also be published on our website, corridorbusiness.com/latest-coronavirus-updates, and through our Facebook, Twitter and LinkedIn channels.
- All of our staff members remain available to assist you. You can find our full contact information at www.corridorbusiness.com/cbj-contact.
Remember: Subscribers can access the digital CBJ anytime and anywhere. Don't remember your password? Please email jean@corridorbusiness.com for a password reset.
The CBJ print subscribers can also temporarily have the CBJ mailed to their home. To temporarily switch your address, please send your full temporary mailing address to jean@corridorbusiness.com. Please include start and stop dates for the temporary address.
Thank you for your continued support of the Corridor Business Journal.
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Short Term Event Planner
Jan. 5
Google Analytics 102: Setting Goals, Tracking Data and Analyzing Reports, by U.S. Small Business Administration, noon, online. Learn how Google Analytics can benefit your business. Free. To register, visit bit.ly/3lyjZnj.
Alwaysready: Business Plan, by Iowa Center for Economic Success, 3-4 p.m., online. Learn how to complete your business plan and the next steps toward business ownership. Free. To register, visit bit.ly/37pAqhN.
Jan. 6
1 Million Cups, by 1MC Cedar Rapids, 8:30 a.m., online. Join for community connections 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 a.m., online. Join for community connections and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit facebook.com/1MillionCupsIC.
Jan. 7
Wake Up Marion, by Marion Chamber of Commerce, 8 a.m., online. Grab a cup of coffee and get to know host Angie Chaplin with Mindful Leadership. Free. To register, visit bit.ly/33VOopt.
2021’s Hottest Businesses, Markets & Trends, by U.S. Small Business Administration, noon, online. Learn about America’s changing demographics, attitudes and consumer behaviors; how a small business can adapt and address those changes; how restaurants can transform their operations; and how COVID-19 has created entrepreneurial opportunities. Free. To register, visit bit.ly/3oxcsXy.
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Get in the know
Forward the FREE CBJ Business Daily newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters here, or check out our other subscription options here.
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These news items are provided by KCRG-TV9
Congress is expected to vote today on a $900 billion COVID-19 stimulus bill, which comes after months of start-and-stop negotiations and stalemates and is reported to include a second round of Paycheck Protection Program funding and a $600 direct payment to most Americans. Members of Iowa’s Congressional delegation said they were reviewing the bill Sunday night in advance of the vote. Brendan Conley, Iowa communications director for Republican Sen. Joni Ernst, said, “Senator Ernst has long called for Congress to step up and provide additional relief to Iowans and all Americans. She is continuing to review the details of this deal and is pushing to get critical relief for Iowa as soon as possible.” Democratic Congresswoman Cindy Axne, who represents Des Moines and southwest Iowa in the state’s Third Congressional District, tweeted Sunday, “This is a long-overdue measure that will help Iowans in need. I look forward to reviewing the full scope of this deal – including provisions that will fund our government, crack down on surprise medical billing, and more. One thing is for sure: the work does not stop here.”
The Salvation Army said it received a one ounce Canadian pure gold coin worth about $1,600 in one of their Linn County area Red Kettles on Saturday. The donation comes as the Salvation Army enters the final week of its Red Kettle campaign. The Salvation Army said the campaign is sitting at 83% of its $711,000 goal as it has had to contend with the coronavirus pandemic and the derecho. “This is truly a wonderful gift in a time of unbelievable need”, said Captain Shawn DeBaar, Salvation Army Corps Officer. “Our community has dealt with so much this year and The Salvation Army has served a record number of our neighbors due to that need. This gold coin is an affirmation of that work and the knowledge that the need will remain into the new year." Four more days of bell ringing remain and all of those days have open shifts. Anyone interested in signing up can do so at registertoring.com.
These news items are provided by KCRG-TV9
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Your KCRG-TV9 First Alert Forecast |
A weak storm system moves away from the area, turning conditions much windier during the day on Monday. Gusts could reach as high as 40 mph in some spots, especially north of Highway 20, but all areas will certainly notice the wind. Highs will be in the low 40s for most through Wednesday, when a storm system arrives and brings us a chance for some rain or snow. It quickly exits early on Christmas Eve, setting up a cold but dry holiday. Slightly warmer temperatures show up for this weekend. |
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