MEDCO celebrates year of development successes, looks to future

Anchored by the theme “We Choose Marion,” the Marion Economic Development Corporation (MEDCO) hosted an estimated 475 guests at its 37th annual luncheon Wednesday. The annual MEDCO luncheon, held at a new commercial flex building in the Marion Enterprise Center constructed by Twenty40 Building Concepts, focused on the major economic development projects in Marion over the past year. MEDCO president Nick Glew contrasted the national economic narrative, which has focused on inflationary pressures, rising interest rates and other challenges, with the progressive outlook of Marion’s development leaders. “We know that many of you in the development world, those of you who are running companies every day, are evaluating interesting and challenging economic conditions as we look to the future,” Mr. Glew said. “But I also think it's important that we don't let national narratives dominate our outlooks on the balance of the year.” He pointed out that 54% of respondents to MEDCO’s recent Community Index survey said they expected their sales to grow in the next year, and 62% planned to add new jobs in the next year. “We know factors of politics, regulations and tax policy, are creating uncertainty as you make future decisions for your business,” Mr. Glew said. “But that's why it's important for Marion  economic development to remain aligned as we work together to maintain the best environment for your business to thrive.” Demonstrating Marion’s economic strength, Mr. Glew said there are $123 million of projects underway or still anticipated to begin in 2023, representing the creation or retention of 480 jobs. “And these are just the projects that the city of Marion and our state partners at the Iowa Economic Development Authority are supporting in various ways,” he noted.

In particular, he said the city took “a giant step forward” in 2013 with the designation of the 184-acre Marion Enterprise Center as one of Iowa's first “shovel-ready” certified industrial parks. The Enterprise Center is now home to seven developments representing an investment of more than $16 million, and 90 acres of ground remain available in the park for sale and development, he said. “Looking forward, our project pipeline remains encouraging, with opportunities from 30 different projects representing over $100 million in potential investments,” he said. “Similar to your business, much of this investment may not come to fruition. But it's the story behind that number that counts. It's a story of opportunity and potential in this community.” Mr. Glew also highlighted Cowork 1107, Marion’s only coworking business, which opened in November 2022 and is colocated within MEDCO offices at 1107 Seventh Ave., in the Broad and Main development in downtown Marion. The coworking space offers a shared, community-driven workspace for individuals not connected to a traditional office. The event also featured presentations from Chad Pelley of Twenty40 Building Concepts; Marion mayor Nick AbouAssaly; Brian and Shelly Kraus, who are building a new headquarters in the Marion Enterprise Center for Fosters Kraus Plumbing, Heating & Air Conditioning; representatives of the Community Build program, which completed its second home in 2022 and is now working on its third and fourth home projects; and Greg Smith, president of Freund Vector Corporation. “We are honored and humbled to have your partnership and your support in being economic development thought leaders who drive competitive advantage for this community,” Mr. Glew added. “That’s our mission.”