CR Small Business Recovery Group Partnering with EDC and Area Chamber
CEDAR RAPIDS, IOWA—October 30, 2008—The CR Small Business Recovery Group (CR SBRG) in cooperation with the Cedar Rapids Area Chamber of Commerce has partnered with the Entrepreneurial Development Center (EDC) and the Small Business Development Center (SBDC) to assist flood affected small businesses with their recovery efforts. The Area Chamber has established a Small Business Task Force and assigned case-management responsibilities to one of its members, the Kirkwood Small Business Development Center (SBDC.). The EDC and Kirkwood SBDC will provide mentoring, education and training services free of charge to the flood affected companies.
“The CR Small Business Recovery Group’s partnership with the business experts from the EDC and Kirkwood SBDC will help small business owners make good decisions throughout their rebuilding process to strengthen their businesses as they move forward,” said Gary Ficken, President of the CR Small Business Recovery Group.
This business assistance is vital because while the physical damage of the flooding has been done, the totality of the economic impact is yet to be realized. Roughly 700 Cedar Rapids businesses were directly impacted by the flood. U.S. Department of Labor statistics predicts that:
- 385 of them will be gone forever
- 280 of them will not reopen their doors
- 6560 or more jobs will be lost
- $130 million or more in annual wages will be lost
- Our tax base will be reduced
- Our labor pool will shrink by 10%
- Recruitment to our community will get tougher
The intent of the partnership between the CR SBRG, the EDC and the SBDC is to prevent the above statistics from becoming a reality in the Cedar Rapids area.
“The EDC is pleased to work with the CR Small Business Recovery Group to help the businesses not only rebuild but come back stronger and more viable,” said Curt Nelson, EDC President & CEO. “Successful small businesses are key to our area’s economic vitality. This is an important time for these businesses to evaluate their short and long-term strategies. The EDC's team of business experts is well equipped to help them with this process.”
About the CR Small Business Recovery Group
The Cedar Rapids Small Business Recovery Group was organized in the wake of the June 2008 floods by Don Karr of Affordable Plumbing and Remodeling, Doug Schumacher of A-1 Rental, and Paul Myers of Sound Concepts. It was organized in an effort to encourage the immediate provision of assistance to flood affected small businesses. The Group’s mission is to ensure that flood impacted small businesses in the Cedar Rapids area remain a major economic engine within the Corridor. Visit www.crsmallbusiness.com for more details.
About the Cedar Rapids Area Chamber of Commerce
1600 members strong and the largest business association in Eastern Iowa, the Cedar Rapids Area Chamber of Commerce is the catalyst to promote economic vitality and quality of life in Linn County. The Chamber seeks to develop a pro-business community environment and assist its members in growth and prosperity through a blend of membership benefits, planned initiatives and strategic community involvement. Visit www.cedarrapids.org for more information.
About the EDC
The Entrepreneurial Development Center was incorporated in 2003 as a community-sponsored, non-profit business accelerator. The company provides economic growth through the development and expansion of entrepreneurial enterprises and has successfully assisted over 360 Iowa-headquartered businesses. Its focus is on creating local wealth for area re-investment by growing and cultivating regional, national, and international businesses. Visit www.edcinc.org for details.
About the SBDC
The Kirkwood Small Business Development Center (SBDC) conducts research, counsels, and trains business people in managing, financing, and operating small businesses, and provides comprehensive information services and access to experts in a variety of fields including planning, marketing and accounting. Contact Al Beach, Kirkwood SBDC Regional Director, at 319-373-2538 for details.
