Business Retention and Expansion

The Iowa Lakes Corridor's GROWTH program is our Business Retention & Expansion (BRE) strategy. GROWTH - an acronym for Gather, Relationships, Opportunities, Wins, Trends, and Home - represents a renewed focus on relationship-building and community-driven progress.  The Corridor's Business Retention and Workforce Partnership Coordinator Joanne Follon conducts interviews with employers in the region each year, working closely with local economic development partners like Lee Dutfield, Development Services Specialist for the City of Storm Lake.  The collected data is aggregated to be analyzed by local and regional users. Quarterly, some of this data is sent to the State of Iowa to identify statewide trends.

To schedule a visit please contact Lee Dutfield 712-732-8000 or Joanne Follon at 712-264-3474.

The Business Retention and Expansion (BRE) Survey is a business questionnaire conducted in partnership between the Iowa Economic Development Authority (IEDA), MidAmerican Energy and local economic developers to understand the needs and future plans of Iowa employers.  IEDA and MidAmerican Energy assemble a list comprised of large employers, utility key accounts and companies that have received financial assistance through the IEDA’s High Quality Jobs or Targeted Jobs programs.  Local economic developers conduct the survey which is comprised of a list of ten standardized questions.  Responses are aggregated by local developers and analyzed by IEDA on a quarterly basis.  Data secured from these responses are utilized by IEDA to inform policy and respond to business needs.  Direct results of the BRE survey include the “This is Iowa” talent attraction campaign, the Employer Child Care Tax Credit and COVID-19 grant programs. 

Iowa Economic Development Authority
Key Findings from BRE Survey (4th Quarter 2025)

Future business expansion plans slowed in the 4th quarter of 2025 compared to the 3rd quarter of 2025 and calendar year 2024. 31.7% of businesses surveyed plan to expand in the next three years, down from 43.0% in Q3 and 44.2% in 2024. Businesses in Q4 reported planned capital investment of $231 million. Businesses reported slightly more investment in equipment and technology than real estate. Firms surveyed in Q4 expect to create 207 new jobs.

19.6% of businesses stated that there are reasons that their current community may not be considered for expansion – slightly up from 18.2% in Q3 but down from 22.9% in calendar year 2024. The most common reasons that an Iowa business may not be the site of future expansion are “other issues” (20 businesses) and “no room to expand at current site/community” (13 businesses).

When surveyed about ownership or top management changes, 24.7% of responding businesses said they have experienced or are anticipating different senior leadership. That’s an increase from 19.8% in 2024 and up from 19.5% in Q3.

Businesses were asked what efforts should be prioritized to increase the competitiveness of their city, region or the state of Iowa.  130 respondents stated that “increase housing opportunities for workforce” should be a priority.  “Talent attraction initiatives” was seen as important by 113 businesses, and 90 businesses believed that “recreation opportunities” were important for long-term viability.

Iowa Economic Development Authority
Key Findings from BRE Survey (3rd Quarter 2025)

Future business expansion plans slowed in the 3rd quarter of 2025 compared to calendar year 2024 but increased compared to the 2nd quarter 2025. 43.0% of businesses surveyed plan to expand in the next three years, down from 44.2% in 2024 but up from 38.2% in Q2. Businesses in Q3 reported planned capital investment of $216.0 million. Businesses reported even investments in real estate and machinery or technology. Firms surveyed in Q3 expect to create 948 new jobs. 

18.2% of businesses stated that there are reasons that their current community may not be considered for expansion – down from 19.7% in Q2 and 22.9% in calendar year 2024. The most common reasons that an Iowa business may not be the site of future expansion are other issues (20 businesses) and workforce issues (12 businesses).

When surveyed about ownership or top management changes, 19.5% of responding businesses said they have experienced or are anticipating different senior leadership – the lowest level recorded in the BRE survey since Q4 2024. That’s roughly unchanged from 19.8% in 2024 and down from 28.7% in Q2. 19.0% of respondents in Q3 reported that their business was experiencing regulatory barriers that are inhibiting growth or causing the community to not be considered for future expansion. That is the highest level recorded in the BRE survey dating back to Q1 2024. The previous high-water mark for companies seeing regulatory challenges was 16.8% in Q1 2024. 

Iowa Economic Development Authority

Key Findings from BRE Survey (2nd Quarter 2025)

Future business expansion plans slowed in the 2nd quarter of 2025 compared to calendar year 2024 but increased slightly compared to the 1st quarter 2025. 42.4% of businesses surveyed plan to expand in the next three years, down from 44.2% in 2024 but up from 40.1% in Q1. Businesses in Q2 reported planned capital investment of $545.4 million. Businesses reported more investment in real estate than machinery or technology. Firms surveyed in Q2 expect to create 323 new jobs. 

18.0% of businesses stated that there are reasons that their current community may not be considered for expansion – down from 21.0% in Q1 and 22.9% in calendar year 2024. This represents the lowest level recorded in the BRE Survey dating back to Q1 2024. The most common reasons that an Iowa business may not be the site of future expansion are workforce issues (12 businesses) and other issues (11 businesses).

When surveyed about ownership or top management changes, 31.5% of responding businesses said they have experienced or are anticipating different senior leadership – the highest level recorded in the BRE survey. That’s up from 19.8% in 2024 and 23.1% in Q1.

31.5% of respondents in Q2 reported that their business was experiencing challenges with logistics or regulatory in international markets. That is the highest level recorded in the BRE survey dating back to Q1 2024. The previous high-water mark for companies seeing hurdles in exports was 13.9% in Q3 2024.

Business Retention + Expansion Report - Buena Vista County 2024