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MONDAY, APRIL 23, 2018 | IN THIS ISSUE
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Mr. Carty currently serves as director of member services for the Iowa City Area Chamber of Commerce.
Prior to his role at the Chamber, Tim served in marketing and sales roles with the Iowa City Press Citizen and Fusionfarm in Cedar Rapids. He is a graduate of Loras College in Dubuque, Iowa.
More than 120 people applied for the position, ICR IOWA leadership said in a statement, adding that it "felt Tim was an ideal candidate from the very beginning."
"His background in marketing and sales, strong network within the Corridor, and his passion for the region were a few of the assets we knew would be an advantage for this role," the statement said. "
The talent attraction work that Tim will lead is critical to the success of the businesses he currently serves at the Iowa City Area Chamber of Commerce along with companies located throughout ICR."
Mr. Carty, who will work
closely with the ICR IOWA Talent Intelligence Council and regional partners to develop and implement talent attraction and retention strategies, will begin his new position May 7.
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A planned $50 million UI Art Museum is one of the highest-profile projects impacted by the university's decision to impose a five-month moratorium on building and maintenance projects. RENDERING BNIM
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A five-month halt on maintenance and construction projects by one of the region's most powerful growth engines is worrying economic development leaders and putting the Corridor's building and construction sector on edge.
The University of Iowa announced April 12 it would freeze more than 100 projects in various stages of development, from a $120 million UI Health Care clinic extension at Iowa River Landing and a $50 million art museum to dozens of smaller renovation and maintenance jobs.
In all, UI officials put a temporary hold on three new buildings including the museum, a $10.8-million clubhouse at Finkbine Golf Course and a $30-million entrepreneurial center for Tippie College of Business. It is also deferring work on the clinic and $308 million in other planned renovations across campus and the UI Health Care system.
The moratorium follows the state's decision to make about $5.5 million in midyear cuts to the UI's budget with fewer than 90 days left in the fiscal year, and will last through Sept. 12 - and possibly beyond, university officials said.
"It's certainly something that will ripple through our economy," said Mark Nolte, president of the Iowa City Area Development Group, who said he is already hearing alarm in the building and development community. "They rely on a lot of work from the public sector to keep their pipelines full and their projects in order ... It's creating some interesting political bedfellows as people understand the importance of the university to the entire state, let alone our region."
Calls to a number of construction, design and engineering firms that have contracted on large university projects in the past suggest the worry is widespread, although few were willing to be quoted by name, citing the sensitivity of their relationship with the UI. Dustin Nordell, operations manager for City Construction of Iowa City, which won the low bid for nearly $9.5 million in work at the university in 2018 alone, said the lack of certainty has been unnerving for those in the industry.
Read the full story in this week's print or digital edition of the CBJ.
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 Laborshed study points to higher salaries, less underemployment
In what Gov. Kim Reynolds called a sign of the state's strong economy, a new statewide laborshed study indicates Iowans' median annual salary increased $4,000 to $64,000 per year while the median hourly wage increased $1 to $17 per year.
The
2017 Statewide Laborshed Study
published by Iowa Workforce Development also estimated the states's "
underemployment rate" dropped from 5.1 percent in 2016 to 4.5 percent in 2017. Total underemployment measures three categories: inadequate hours, mismatched skills and low income.
"Jobs that pay higher wages require more skills, education and training," Reynolds said in a statement. "As Iowans continue to train for the jobs of today and
tomorrow
, salaries will also rise. That's why Future Ready Iowa is so critical to our state's future."
Ms. Reynolds s
igned
House File 2458
, the Future Ready Iowa Act, earlier this month.
The initiative's goal is ensuring 70 percent of Iowa workers have education or training beyond high school by 2025.
The statewide laborshed report shows that over three-fifths of employed respondents (61.6 percent) indicated they have completed education or training beyond high school. This statistic has been trending upward since 2008 in the ann
ual statewide reports and increased .4 percent between 2016 and 2017.
The 2017 laborshed study relies on
analysis of 6,000 telephone survey responses statewide. Surveys were conducted in each ZIP code based on a random sample of the population between 18 and 64 years of age and weighted by the total population in each ZIP code between 18 and 64 years old.
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The Securities and Exchange Commission voted last week to release a three-pronged proposed rule for public comment that would change the standard of care that broker-dealers owe retail investors, require new client disclosures for all investment providers, and reinterpret the requirements of fiduciary advice, the Des Moines Business Record reported
.
On each of the three measures, the five-member commission voted four-to-one to release the proposals to the public, with Commissioner Kara Stein, a Democrat and appointee of President Barack Obama, the lone "no" vote on each proposal.
Among the three proposals is a "best interest" regulation that would require a best interest standard of care for broker-dealers that currently operate under a suitability standard. Under the proposal, brokers would be required to disclose conflicts of interest and have a "reasonable basis" that their recommendations were in clients' best interest.
The issue is of keen interest to Iowa-based annuity issuers such as American Equity Investment Life Holding Co., which are concerned that a best interest standard would torpedo sales of annuities and expose insurers to lawsuits from investors.
Iowa Insurance Commissioner Doug Ommen, who chairs the National Association of Insurance Commissioners "A" Committee that handles life and annuity issues, has worked with the SEC on the rule in that capacity, and is also a member of the North American Securities Administrators Association.
"I look forward to continuing to work with the SEC on this topic in my dual roles with both the NAIC and NASAA," Ommen said in a release. "Our consumer protection rules that require insurance and investment professionals to abide by consumer-focused standards of care should help consumers choose the professional retirement security advice that is right for them."
The SEC's proposal could make it even more difficult for the Department of Labor to advance its embattled proposal for a new fiduciary rule governing broker-dealers, Marketwatch
reported.
The Labor Department's fiduciary rule governing investment advice to retirees, passed in 2016, was struck down entirely by a federal appeals court in a 2-1 decision in mid-March. The department's rule, partially implemented as of June 9, 2017, was already on hold until July 1, 2019, pending an economic and legal analysis of the likely impact of the rule required by a Trump administration memorandum.
The fiduciary rule said brokers can no longer earn commissions unless they agree to a best interests contract with clients.
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Linn County wins national SolSmart designation
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Linn County supervisors announced the county had won "gold" status for its efforts to make it easier and more affordable to go solar.
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Linn County announced last week it received a gold designation from the national
SolSmart program for making it faster, easier, and more affordable for homes and businesses to go solar.
SolSmart, a national organization funded by the U.S. Department of Energy to help local governments develop solar energy in their communities,
awards points based on the actions taken to reduce barriers to solar energy development. Launched in 2016, Linn County joins 150 cities, counties, and small towns to have achieved a SolSmart gold, silver or bronze designation - including Johnson County, which won the gold designation in 2017.
"The SolSmart Gold designation recognizes Linn County for its leadership in encouraging solar energy growth and removing obstacles to solar development,"
Linn County Supervisor John Harris said in a release. "As a result of our participation in the SolSmart program, Linn County is helping solar companies greatly reduce the cost of installations and pass those savings on to consumers. This allows even more local homes and businesses to obtain affordable, clean, and reliable electricity through solar."
For companies looking to expand, Linn County officials said, a SolSmart Gold designation is a signal the county is "open for solar business."
To receive designation, cities and counties make changes to their local processes to reduce the time and money it takes to install a solar energy system. This includes evaluating local permitting processes, as well as planning and zoning procedures. SolSmart designees also
develop innovations in areas such as market development and finance.
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Short-Term Event Planner
April 24
Building Your Brand, by Empowered Professionals of Iowa City, 4-5 p.m., OnePlace, 500 S. Clinton St., Iowa City. MidWestOne Bank's Lynda Whittle and Katie Symmonds will discuss how employers search social media. Free. To register,
bit.ly/2pD3FYh.
April 25
1 Million Cups, by 1 Million Cups, by 1 Million Cups, 9-10 a.m., MERGE, 136 S. Dubuque St., Iowa City. Join for community connections, startup pitches and free coffee. Free. For more information, visit
facebook.com/1MCICR.
Women's Leadership Summit, by Collins Community Credit Union, 9 a.m.-3 p.m., Elmcrest Country Club, 1 Zach Johnson Drive NE, Cedar Rapids. The Summit will focus on helping women develop essential business skills needed to advance their careers and feature workshops such as "The Unwritten Rules of Business." Tickets: $175. To register, visit
bit.ly/2GMGzcn.
Land Development 101 and 201, by Iowa City Area Association of Realtors, 9 a.m.-4:30 p.m., 847 Quarry Road Ste. 110, Coralville. Land Planning & Development Specialist Sandra Steil will teach the fundamentals of GIS technology. Cost: $85. For more information and to register, visit
icaar.org.
April 26
Let's Talk Social Media!, by Professional Women's Network, 11:30 a.m.-1 p.m., Hills Bank and Trust, 3905 Blairsferry Road NE, Hiawatha. Discuss social media as a highly effective tool for communicating your brand to customers and potential customers. $15 for members, $25 for non-members. To register, visit
bit.ly/2t6XL5W.
Business PM, by Iowa City Area Chamber of Commerce, 4:30-6:30 p.m., Home2 Suites, 740 Coral Ridge Avenue, Coralville. Join fellow chamber members for networking, appetizers, hors d'oeuvres and more. Free for chamber members. For more information, call (319) 337-9637.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
A person hit by a train early Monday morning died shortly afterwards.
The Benton County Sheriff's Office was notified by the Union Pacific Railroad around midnight that a train struck a pedestrian.
Belle Plaine Police Department and Belle Plaine Ambulance assisted at the scene.
While this week ended on a high note with spring-like temperatures in the 60s, farmers are still concerned over how much of an impact the long cold weather stretch across Iowa will have. Sunday was the first day farmers were able to work with higher ground temperatures, which are crucial to how crop germinates and ultimately yields, come harvest season. "
The cold weather has backed everything up three to four weeks, it's made it so we cant apply herbicides like we normally do and it's effectively backed up the planting schedule," Mark Tinnes, the agronomy manager with Visionag said. Mr.
Tinnes has been in the agricultural business for 33 years. This is the coldest winter he has experienced in Iowa and one leaving a lasting effect on farmers across the region. Soybeans, for example, generally need a ground temperature of 50 degrees to grow effectively. That temperature has not been reached at all, leaving farmers worried. Despite the concern however, Mr. Tinnes says it is now up to farmers to make sure they stick to their schedule and use planting time effectively to minimize the effect on their yield.
"They have to do a good job planting," he said. "If you make a mistake planting, that will stay with you all season and it will have an impact on yield. We are telling them just to wait. If you look at the grass it's not growing very well either so the corn will not, until it warms up."
John Heisdorffer is out planting anyway, but is only planting rye grass because at $216 an acre, should ground temperatures still be too cold, it is simply too much of a risk to lose an expensive crop. The president of the American Soybean Association however is not worried about what will happen later in the year. While he realizes there will be a possible delay for farmers, he also thinks they will recover fast and stay on track.
"April 15 is kind of my go date so we are not way behind," Mr. Heisdorffer said. "It kind of puts us behind but nowadays we can catch up pretty fast, we just run a few more hours and it won't take that long to get things done."
T
hese news items are provided by CBS2/FOX 28
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CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
Spring has sprung and the good times keep on rolling this week. Temperatures will be warming into the mid 60s to low 70s this afternoon with a mix of sun and clouds. There will be sunshine with temperatures in the mid to upper 60s tomorrow. A weak cold front will move through late Tuesday into Wednesday. Just a few clouds will pass through the skies and temperatures will be closer to 60 Wednesday afternoon.
Another weak disturbance moves through on Thursday and will lead to the chance for a few light rain showers. Temperatures will once again get knocked down closer to 60 on Friday.
The upcoming weekend will be a beautiful one with temperatures in the upper 60s to low 70s. Enjoy it.
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