Ely, Iowa EDGE: Economic Development Group, Inc.

ABOUT EDGE

EDGE is the Economic Development Group of Ely, Iowa. EDGE developed out of citizens’ interests in developing Ely’s vitality and quality of life. Ely has enjoyed uncommon growth in the past fifteen years, more than tripling its population. EDGE’s mission is to foster prosperity and quality of life in the Ely area. It is our intention to support the systematic development and growth of small businesses, encourage volunteerism and add value to our community. EDGE is a 501c6 private, non-profit, economic development organization. Our usual meeting time is the third Thursday of each month in the Ely Public Library Conference Room. The public is welcome.

WHY EDGE?

Ely is growing and changing fast at a critical point in her history. She is part of the Cedar Rapids/Iowa City corridor, one of the most vital and growing parts of our state. Now is the perfect time for the people of the Ely area to come together to imagine Ely’s future, select some ambitious goals and begin planning for achievement. Together we can create our future.

ELY'S NEED FOR ECONOMIC GROWTH

Ely is a small residential town that grew up as an agricultural community along a railroad. The railroad is gone and Ely is Iowa’s largest community not on a state highway. The nature of Ely’s economy is also changing. In 1942 Ely had a busy railroad station, an office of the First Trust and Savings Bank, Bill’s Motor Service , Novotny’s Shoe Repair Shop, Peet’s Hatchery, Rusty’s Tavern, Milo Lustick’s Barber Shop, Joseph Lorenc’s Drug Store, the F.J. Krob Company and Elevator, Lumir Biderman’s Hardware and Implement Store, Charles Sladek’s Farmers’ Store, E.J. Vavra Lumber Yard, the Ely Telephone Company, Lester Phillip’s Tavern, and the F.J. Dolezal Creamery. Much has changed since that time. Ely is currently four times as populous as in 1942. Most of its residents work in Cedar Rapids or Iowa City. As Ely’s residents work and shop in larger metropolitan communities, most of the businesses necessary for a small rural agricultural community of the 1940's are gone. Yet, Ely has great potential for growth as one of the sister cities along the Eastern Iowa Technology Corridor. She is one of the few cities along the corridor that maintains small town Iowa character. She is also one of the few communities in the area with great proximity to resources and natural features conducive to gracious living

WHAT CAN WE DO TO SHAPE OUR ECONOMIC FUTURE?

What can we do to shape our economic future?

1/ Imagine and plan for the future with the broadest participation of citizens. This is the most effective democratic preparation for the future.

2/Proactive, as well as, reactive response to the problems and opportunities creates opportunity for democratic initiatives. It’s the American way!

3/The proportion of commercial to residential tax base has diminished from 35+% to 14% concurrent with the recent rapid growth of Ely’s population. Because of Iowa’s residential property tax roll back, residences are taxed at successively lesser percentages each year, after having begun taxation at less than the mid- fortieth percentiles of taxable evaluation. Commercial property, by contrast, is taxed at 100% of taxable evaluation. In short, a city needs a healthy business community to thrive. We can work to balance the residential/commercial tax base.

4/The size of the City of Ely’s budget is influenced not only by her current population, but also by her recent rapid growth. --Infrastructure must grow to meet Ely’s needs. Residential taxes and fees will probably rise unless additional revenue is forthcoming. --Unforeseen contingencies will be more effectively resolved with balanced commercial and residential growth We can help the city plan and execute her development and growth. We can be the City’s private, not-for-profit partner.

5/ Ely has made little provision for commercial growth and development in her comprehensive plan. --Cedar Rapids is encroaching from the north and west. --Ely’s current capacity to extend infrastructure to developable areas may be restricted by adverse economic conditions, financial constraints, unwillingness of landowners to develop, jurisdictional boundaries and topological features.

6/ Ely’s budgetary limitations may adversely impact effective planning and development. --Budgetary poverty and uncertainty may impact city council continuity, and the relative experience of its members, which in turn, may increase the cost of government operation. In spite of these potential barriers to growth, Ely has great opportunity to creatively approach these problems with solutions that will improve quality of life and prosperity in Ely.

Ely’s potential benefit from increased economic development will lead to:

--Improved business opportunity

--Improved tax revenues, while sustaining small town livability

--A more informed constituency

--More citizen involvement in planning and decision-making processes

--Improved long-term planning capability

--Lower cost, more effective government operation

Some Strategies For Economic Development

(North Central Regional Center for Rural Development)

Attract New Business Facilitate Business and Industry

Retention and Expansion

Encourage Commercial and Retail Development or Redevelopment