+ ANNUAL :::: REPORT 2017-2018 QuadCitiesChamber.com Facebook.com/QuadCitiesChamber @QCChamber 563.322.1706
FROM THE CEO Bridging the River. Building the Region. It s great to be back in the Quad Cities. Thank you to everyone who has given me a warm welcome to the community. When I became president and CEO of the Quad Cities Chamber this year, I joined a dynamic group of thousands of people working every day to build their businesses and strengthen the community. MY VISION FOR THE QUAD CITIES CHAMBER IS TO ENSURE WE ARE EQUIPPED TO WIN THE NEXT GENERATION. In the coming year, you ll see an exciting evolution within the Quad Cities Chamber and how we serve the business community. Some of this change has already started, with the announcement of the new business services division that will support local business growth, and the increased support for Q2030. Another change will be in addressing the business imperative to foster belongingness. Demographics are changing and we have to be ready. As leaders in the community, we must ensure that whether someone has been here one day or their whole life, they don t just feel welcomed, they feel like they belong here. When an entrepreneur launches a new business, when companies recruit new employees, when graduates choose to stay and work for your business, or when newcomers choose the Quad Cities as their home, our ability to make them feel welcome and included in the community will set us apart. WE HAVE TO BE THE STRONGEST AND BEST ADVOCATE FOR THE BUSINESS COMMUNITY, AND WE MUST HAVE THE AUDACITY TO ADVOCATE FOR BIG IDEAS as we ve done in the past with projects like the I-74 Bridge and the Quad Cities Manufacturing Innovation Hub as well as issues that will advance the region s business climate. We will continue to proactively lead the region by looking over the horizon to see where we need to be much like Q2030 has begun to do. By realigning our efforts and resources, we are ready to fully serve small businesses, while increasing our capacity toward Q2030, thriving downtowns and modernizing the way we carry out the work to attract and grow businesses through economic development in the Quad Cities. The best is yet to come in the Quad Cities, and I look forward to working alongside leaders like you to ensure that we realize these great opportunities. Paul Rumler President & CEO Quad Cities Chamber
A stronger economy means more money for your business. We work to grow the regional economy by recruiting new companies to the area, helping existing businesses expand, and supporting entrepreneurial growth. A STRONGER ECONOMY MEANS MORE MONEY FOR YOUR BUSINESS 1,108 new jobs This year we worked side-by-side with Arconic to assist with the $169 million project in the Quad Cities. After an analysis of several potential plant locations, the Quad Cities plant earned the project. Since this announcement, Arconic signed its largest contract to date with Boeing. Expansions like this have an impact on every facet of the Quad Cities. The new jobs and ATTRACTING & GROWING BUSINESS + = businesses. $240.5M new investment from helping companies with expansion and relocation projects PROJECT SPOTLIGHT More customers ready to spend money with Quad Cities area investment created by this project had a $146.4 million economic impact on the region. This means that over $7 million is spent at local restaurants, retailers and service providers, $1.1 million on vehicles, and $4 million on new housing, rent and related expenses. This is just a short list of ways that the economy is positively impacted by economic development deals. 9teams participated in Venture School, a six-week entrepreneurial bootcamp, in partnership with Eastern Iowa Community Colleges and the University of Iowa John Pappajohn Entrepreneurial Center. Four teams advanced to the statewide pitch competition and two placed in the statewide pitch competition. FOSTERING AN ENTREPRENEURIAL CULTURE Ignite Quad Cities is a program of the Chamber that accelerates startup growth by connecting aspiring entrepreneurs to resources, a network and funding options. 32 events hosted 924 attendees During these entrepreneurial-focused events, people exchange ideas, learn about topics related to marketing, pitching a business idea, securing funding, and lessons from other entrepreneurs. ENTREPRENEURIAL SPOTLIGHT This year a new angel investor group, the Riverbend Angels, formed. The Riverbend Angels is a group of local investors with the goal to help entrepreneurs turn their ideas and visions into successful companies through mentorship, advice and capital resources. Two local businesses involved in Ignite Quad Cities and Venture School participated in a pitch for funding with our local angel group.
SOMEONE YOU NEED TO MEET? WE CAN CONNECT YOU. With the Quad Cities Chamber, events aren t just social gatherings they re avenues to build your business. The Quad Cities Chamber hosted events to help their 1,660 members build their network, access expertise, ideas and resources, and stay engaged in the community. 566 area executives gathered throughout the year at Executives Club to spend time with peers and gain expert insight from speakers. 81 companies we helped access high-powered market research databases to help them find new customers all at no cost. 1,019 networked and celebrated regional accomplishments at the Quad Cities Chamber Annual Meeting 325 people attended the newly launched Small Business Series. During the two fourpart event series members learned from their peers, shared best practices, and gained actionable takeaways to grow their business. 276 people attended the annual Economic Forecast to gain expert analysis on the regional and national economy as well as an update on local economic development projects. 790 people got together for the annual Hob Nosh to network, promote their business and build camaraderie at a lively afterhours event. 300+ people spent a day networking and promoting their business at the Annual Chamber Golf Outing. Whether golfing, volunteering or sponsoring, members made valuable connections for their businesses. 98 ribbon cuttings and ground breakings. Chamber Ambassadors celebrated business growth representing 335 new jobs and $1.1B in new investment. 727 small and medium sized businesses networked and stayed up to date on community happenings at Amp Up. Policies at all levels of government can have a big impact on your business. We monitor bills and advocate for business friendly policies on behalf of our members. Last year, we successfully advocated for bills in Illinois and Iowa that will support business and economic prosperity. THE VOICE FOR BUSINESS 495 member businesses connected with elected officials during legislative luncheons and trips to Des Moines, IA, Springfield, IL and Washington, D.C. Businesses discussed the business impact of policies with elected officials. A WHOLE TEAM, ADVOCATING ON YOUR BEHALF FOSTERED BALANCED REGIONAL GROWTH Successfully advocated for the passage of historic tax credits in Illinois. Historic tax credits are expected to generate as much as $10.24 in economic impact for every $1 of tax credit awarded during the construction phase, and $11.47 per $1 in the first five years after completion. A BALANCED BUDGET: FOCUS ON WORKFORCE DEVELOPMENT Advanced legislation to support workforce development by successfully advocating for the passage of a balanced budget in Illinois. The $38.5B budget included significant investment in K-12 and postsecondary education. BUSINESS FRIENDLY POLICY Successfully advocated for corporate tax reform and the elimination of federal deductibility in Iowa, while protecting economic development tools that support regional economic growth. This legislation will create a more business friendly environment to advance corporate growth.
CONNECTED REGION Organized the Quad Cities Big Table to connect 5,000+ people from throughout the region, from all backgrounds and walks of life, to empower residents to take action toward improving the community. This effort resulted in an increase of civic engagement and community pride factors that will contribute to the strengthening of our community. COOL PLACES Developed MakeItHereQuadCities. com and social media presence that promotes civic pride and serves as a talent attraction and retention tool. DRIVING Q2030 As the backbone organization driving Q2030: A Regional Action Plan, the Quad Cities Chamber works on a number of fronts to develop a cool, creative, connected and prosperous community where businesses and residents alike will thrive. CREATIVE PEOPLE As part of creating a more welcoming and inclusive community, we began building relationships with 12 local multicultural groups to ensure that the work of Q2030 is representative of our entire community. PROSPEROUS ECONOMY Advanced strategies to develop a prosperous economy including the Quad Cities Manufacturing Innovation Hub, an entrepreneurial ecosystem through Ignite Quad Cities, and business retention, expansion, regional marketing, and policy to strengthen the business climate. 712 people made social connections and experienced quality of life amenities through after-hours events with YPQC: Young Professionals of the Quad Cities. CONNECTING YOUNG TALENT TO THE REGION We help companies retain talent by providing a pathway for young people to build their network, access professional development, and feel at home in the Quad Cities region. 613 people also gained professional development at YPQC luncheons. 271 interns participated in InternQC, a summer-long program that showcases the region to interns as a strategy to attract and retain talent in the region.
CREATING COOL PLACES Thriving downtowns add to the quality of life in the region and help attract talent and businesses. The Quad Cities Chamber operates two downtown organizations the Downtown Davenport Partnership and Moline Centre and is in the process of developing the Downtown Bettendorf Organization in collaboration with area businesses. Last year, these three organizations facilitated exciting new growth in our downtowns. DOWNTOWN DAVENPORT A thriving music scene, a growing downtown residential market, and the highest downtown food and beverage sales tax receipts on record highlighted the year in downtown Davenport 14 new, retained or expanded businesses $82M in new construction projects completed including the Current Hotel, Eastern Iowa Community Colleges Urban Campus, Pershing Hills Lofts and the Adler Marquee $48M in new development under construction $1.1M Downtown food and beverage receipts, nearly doubled from 2012 1,400 apartments in downtown with 137 more under construction and 184 planned Launched Alternating Currents, a new festival featuring 100+ live music performances, comedy acts, film screenings, and visual art events that drew thousands of people to downtown Davenport. Drew thousands of people to downtown and the region by hosting events including Street Fest, Red, White & Boom, Icestravaganza and Third Thursdays MOLINE CENTRE $16.2M in completed construction projects including Element / The Q, Central Store and Lincoln One $29M in new development currently under construction 1,000s of people attracted to downtown through the weekly Moline Centre Summer Concert Series, Quad Cities Craft Beer Fest, Holiday Hop, and Cabin Fever Pub Crawl DOWNTOWN BETTENDORF ORGANIZATION 50 businesses contacted leading to the development of a steering committee of business owners to guide future growth in the downtown Attracted people downtown with first event, Be Downtown
7 defense contractors were connected to scholarships that funded training to meet new Department of Defense cybersecurity regulations. 15 regional suppliers were connected with a federal prime contractor seeking new business relationships. 8 online playbooks were launched to guide companies in adopting new technology. 32 local companies received intensive business diversity training through a federal grant we obtained. SUPPORTING MANUFACTURERS, STRENGTHENING THE ECONOMY 723 people attended 32 technology focused events. ADVANCING THE ROCK ISLAND ARSENAL With 6,000 jobs and a $1B economic impact on the Quad Cities region, the Rock Island Arsenal is an important driver in our community. The Quad Cities Chamber works closely with leaders at the RIA to ensure it continues to maintain its position within the Department of Defense. The Quad Cities Manufacturing Innovation Hub supports the region s largest economic driver the manufacturing and defense industries. By helping manufacturing and defense firms diversify and adopt new technologies, we re strengthening the economy so that all businesses regardless of size or industry are set up to succeed. The Quad Cities Chamber and business community played a critical role in establishing the Joint Manufacturing Technology Center (JMTC) as the Army s Center of Excellence for Advanced Manufacturing. As a result, the JMTC is now a critical entity in the Army s broader modernization efforts. 185 new jobs created on the Rock Island Arsenal. The RIA added 71 new houses onto the installation to support soldiers and their families. Quad Cities area businesses served as sub-contractors on the new construction.
YOUR INVESTMENT IN THE QUAD CITIES CHAMBER HELPS STRENGTHEN OUR REGIONAL ECONOMY *UNAUDITED CONSOLIDATED EXPENSES FY2018 We re committed to helping area businesses grow. 21% DOWNTOWNS 12.2% GENERAL & ADMINISTRATIVE 13.4% MEMBERSHIP SERVICES 5.8% COMMUNITY DEVELOPMENT & PUBLIC AFFAIRS 3.5% Q2030 17.9% OEA GRANT/ MANUFACTURING HUB 26.2% ECONOMIC DEVELOPMENT The Quad Cities Chamber is funded through membership dues, public sector contributions and grants. Downtowns are funded through dedicated revenue used to fulfill their work plans.
Celebrating regional pride: #MakeItHereQC Quad Cities Chamber Ambassadors out in the community Chamber members build their network at Hob Nosh Quad Citizens become friends, resources and colleagues through the Quad Cities Chamber Build your business brand by getting out and about with the Quad Cities Chamber Over 5,000 community members came together for The Quad Cities Big Table InternQC participants volunteered with Living, Lands & Waters during their summer-long tour of the Quad Cities Entrepreneurs find resources and connect through the Chamber s Ignite Quad Cities Celebrating the opening of Exelon s new training facility. The Chamber is proud to have helped retain Exelon in the region