C393-29374 2015 Annual Report_v29_dp_TITLEBy Audrey Regan, Communications Intern

Download Cultivating Opportunity, the 2015-16 Cultivation Corridor Annual Report,  here.

As Iowa’s first cluster-based economic development organization, the Cultivation Corridor proudly released its 2015 annual report, Cultivating Opportunity, outlining visible impacts made by the efforts of many industry leaders in Iowa’s Corridor.

In 2015 the Corridor assisted in economic development projects throughout the region which delivered more than $563 million in capital investments and which created or retained 673 jobs.

“In the Corridor’s second year, we made tangible steps toward realizing the aggressive goal set by our board and stakeholders to firmly establish central Iowa as the destination of choice for capital, talent and research in the agbiosciences and agtechnology space,” said Executive Director Brent Willett.

The report outlines accomplishments including

  • DowDuPont’s $500 million commitment to central Iowa. Thanks to the efforts between the Corridor, the Greater Des Moines Partnership, the City of Johnston, Iowa Economic Development Authority and many others, Johnston, Iowa was selected as one of two DowDuPont Global Business Center sites for its new agriculture business. This commitment to central Iowa includes the promise of more than $500 million in research and development investments in the region through 2021- one of the largest research in development announcements in state history.
  • Partnering with four other entities, the Cultivation Corridor was able to release Iowa’s Ag/Bioscience Asset Database, the state’s first agbioscience, agribusiness and healthcare industry aggregate information database.

In its second year, the Cultivation Corridor not only continued to promote innovation and collaboration, but it made significant progress in establishing Iowa as a leader in the emerging biochemical industry.

  • The Biorenewable Chemical Tax Credit Program bill – the first in the world of its kind to specifically address the emerging biochemical industry – was passed by the Iowa Legislature and signed by Governor Terry Branstad in April.
  • This opened Iowa’s doors to a $250 billion national chemicals market. The bill authorized up to $10 million annually in tax credits for ten years to support the rapidly growing biorenewable chemical industry in Iowa.
  • The Corridor also released BioBased Chemicals: The Iowa Opportunity, a booklet focusing on the promise that biochemicals hold for Iowa.
  • Visit CultivationCorridor.org/biochem for more on the legislation and on why Iowa is leading in the biorenewable chemical space.

The annual report also reports that Willett traveled over 47,600 miles and visited six countries to spread the Corridor’s message to audiences around the world. The Corridor was represented at more than 15 industry events and dedicated marketing trips.

Step by step, the Corridor is helping to support and sustain the science that feeds the world. Read more about the successes of Iowa’s Cultivation Corridor in our annual report!