Mason, Downer Support EDC
By Chris Rhatigan, Iowa City Press-Citizen (article from press-citizen.com)
University of Iowa President Sally Mason and Board of Regents member Bob Downer said at a breakfast Thursday that continuing to partner with the Entrepreneurial Development Center, Inc., is vital to the local economy’s health.
The EDC is a private/public-sponsored organization established in 2003. CEO Curt Nelson said they work with new and existing businesses mostly in Johnson, Linn and adjacent counties.
“Everything has to start somewhere, and the EDC is about fostering ideas,” Downer said. “The efforts that the EDC has launched are vital if the technology corridor is going to reach its potential.”
Mason said that through technology transfer and finding commercial applications for research, UI can continue to help the EDC make businesses grow.
She said that transferring what’s learned in the research lab to the marketplace generates economic development.
“We know that creating a highly educated workforce will remain our biggest economic development contribution,” she said.
She said that starting new businesses is crucial to keeping graduates in Eastern Iowa. Mason said local businesses can provide higher paying, higher quality jobs.
Despite the national recession, Mason said its essential to help new businesses.
“Now is not the time to think small about the future,” she said.
Nelson said the EDC has worked with more than 300 businesses. Some of the organization’s success stories include Bochner Chocolates and Asoyia, a soybean oil company, both based in Iowa City.
He said the EDC provides resources, networking and education to a variety of businesses.
“It’s a lot about who you know and how you leverage that,” he said.
According to materials from EDC, the organization has generated $327 million in “total economic impact.”
