TUESDAY, APRIL 6, 2021 | IN THIS ISSUE

• Van Meter to purchase Minnesota-based Werner Electric
• HER WAY: Pandemic brings troubling chapter for women
• IBC projects positive six-month economic outlook
• Cedar Rapids hosts several large sporting events
• Students gain real band experience at School of Rock
• Corridor events, KCRG-TV9 headlines and First Alert Forecast
Van Meter to purchase Minnesota-based Werner Electric
Van Meter Inc., a 50% partner in Werner Ventures LLC, the legal entity that owns Minnesota-based Werner Electric, announced their intent to make a stock purchase of the remaining business from MacDonald Ventures. The sale is expected to close on April 30. 

“For 20 years, Van Meter and the MacDonald family have proudly owned and supported a successful and growing business in Minnesota. We find ourselves mutually understanding that our shared Minnesota business could reach even greater potential through the efficiencies and market influence gained by being owned by one company,” said Lura McBride, president and CEO of Van Meter, in a release. 

The joint ownership model of Werner Electric of Minnesota began in 2001 when Van Meter and MacDonald Ventures partnered to purchase an independent electrical distributor known as Northland Electric.

“It has been a strong, 20-year relationship based on respect and a shared passion for the electrical distribution industry,” added Ms. McBride. 

Werner Electric of Minnesota is headquartered in Cottage Grove, Minnesota, and operates eight electrical supply locations – six in Minnesota and two in Wisconsin. The company employs 325 people and provides electrical and automation services, supplies, and solutions to industrial, contractor, and renewable energy customers across the northern region of the United States. 
HER WAY: Pandemic brings troubling chapter for women
When it comes to women in the workplace, it’s the best of times.

And it’s the worst of times.

In some respects, women have never been so large and in charge. From holding the second-highest office in the land to holding court in the C-suite, where record numbers of women are running America’s top companies, progress is undeniable.

Long sought-after flexible and remote work is here to stay. Child care, a major impediment to women’s forward momentum for years, has finally taken center stage. Female entrepreneurship is on the rise, and women are on course for one of the largest wealth shifts in history, set to take control of much of the $30 trillion in financial assets to be passed on by baby boomers by 2030.

“In so many ways, we’re making such strides,” said Tiffany O’Donnell, CEO of Cedar Rapids-based Women Lead Change, who is living up to her organization’s name by throwing her hat into the ring as a candidate in the city’s upcoming mayoral race. “We are really starting to see more women on boards of directors and more women in the C-suite. We’re seeing attention on issues we’ve been talking about for years, like child care and flexible work. That part has been so encouraging.”

Yet when the bomb that was the COVID-19 pandemic exploded, it sent shrapnel in every direction, especially where working women were concerned. Its shockwaves tilted an uneven playing field further askew and left the pitch strewn with as many setbacks as silver linings.

In what’s been popularly described as a “she-cession,” women have borne the brunt of pandemic fall-out.

According to the National Women’s Law Center, 2.3 million women (compared to 1.8 million men) have left the workforce since the start of the crisis, bringing their labor participation down to a 33-year low.

And Iowa has not been spared. Bureau of Labor Statistics data shows that the number of unemployed women more than doubled statewide in 2020, from 20,000 to 42,000.

“We know that participation is down to 1977 levels … 140,000 jobs were lost [nationally] just in December and all of them were women,” said Dawn Oliver Wiand, president and CEO of the Coralville-based Iowa Women’s Foundation, noting the crisis has magnified problems that have existed for years – doing the same work for less pay, primary responsibility for child care and household duties, and being routed into “mommy tracks” that offer little chance for advancement. “Now, with COVID, a spotlight is being shone on it, and there is an opportunity because we can’t lose the strides we have made. We can’t take steps backward.”

Read the full members-only story in this week's print or digital editions of the CBJ.
IBC projects positive six-month economic outlook
Iowa Business Council (IBC) members remain optimistic for the third straight quarter, according to the results of the first-quarter Economic Outlook Survey released this morning.

The report measures member expectations for sales, capital spending and employment for the next six months. If the index measures above 50, sentiment is positive.

The first-quarter survey's overall economic outlook index is 60.42. This marks the third positive quarter in a row, projecting continued confidence as the state emerges from the pandemic.

The latest survey reports that 65% of members expect sales will be higher in the next six months. Additionally, 55% of members anticipate their company’s hiring levels will be higher in the same time period.

While capital spending projections remain positive, the index fell to 56.25. The majority of respondents expect no change in this category. This implies a pragmatic, wait-and-see approach as Iowa’s business community surpasses the one-year anniversary of the pandemic.

"Receiving three consecutive quarters of positive index numbers is significant for the state’s economic outlook. This survey instills optimism for Iowa’s overall recovery as the vaccine rollout accelerates and working conditions start to normalize,” explained Tim Yaggi, chair of the Iowa Business Council, in a news release.

However, the survey also indicates that IBC members remain concerned about attracting and developing a talented and diverse workforce. Eighty percent of respondents cited this issue as one of their top three primary business challenges.

“Growing a diverse talent-base continues to be the highest point of concern for our members,” said IBC Executive Director Joe Murphy. “The survey results illustrate in real-time the importance of the Iowa Business Council’s top legislative priorities such as affordable childcare, workforce housing and high-speed internet access as we seek to attract and retain a quality workforce across Iowa.”

The Economic Outlook Survey has been completed by IBC members on a quarterly basis since 2004. The report provides insight regarding the projected trends for Iowa, which can be used for business and economic planning.

To review previous economic outlook surveys, visit iowabusinesscouncil.org/news/eos.
Cedar Rapids hosts several large sporting events
Several large sporting events will keep Cedar Rapids area hotels, restaurants and stores busy throughout April, bringing young soccer stars, gymnasts, collegiate volleyball players and cross country runners to events across the area according to a release.

  • On Friday, the National Association of Intercollegiate Athletics (NAIA) Men’s & Women’s Cross Country National Championships will be held at Seminole Valley Cross Country Course in Cedar Rapids. This event, hosted by Mount Mercy University, was rescheduled from November 2020. Approximately 320 male and 320 female runners will participate.
  • The Alliant Energy PowerHouse is the site of the National Junior College Athletic Association (NJCAA) DII Volleyball Championships from April 13-15. Cedar Rapids Tourism, with the support of Kirkwood Community College, is hosting this event. Sixteen teams from across the country have qualified for the national championships by winning their district tournament. The public is invited to attend and details can be found here.   
  • XCEL Region IV Gymnastics Championships are coming to the Alliant Energy PowerHouse Convention Complex. Cedar Rapids will welcome hundreds of athletes and their family members from April 23-25. Tickets are available here.
  • The Cedar Rapids area will see many athletes, coaches and families April 24-25 during the 20th annual Chill Out Soccer Tournament at Tuma Soccer Complex. This pre-season tournament hosted by the Cedar River Soccer Association draws thousands each year. 

“We are looking forward to a great month full of events in Cedar Rapids,” said Michael Silva, executive director of VenuWorks of Cedar Rapids/Cedar Rapids Tourism Office, in a release. “These competitors and their families will go out into the local community impacting hotels, restaurants, attractions and shopping districts.”
Students gain real band experience at School of Rock
Youth and adults have a new place to rock in Cedar Rapids and Marion. School of Rock, 710 10th St., Marion, is celebrating its opening with a ribbon-cutting on Thursday at 4 p.m.

The music school, which opened in March, brings students of similar ages and experience together to play the songs they are learning in one-on-one lessons into a group, or band, setting. Students are welcomed by large classic rock-inspired murals throughout the historic space which has been transformed into private lesson studios and small group spaces.

Programs are available for children age 3 to adult. The youngest students begin in small group classes to build an appreciation of music and teach basic fundamentals in a fun, engaging way using rock music. The studio offers lessons on guitar, bass, drums, piano/keys, or vocals.

“Students are able to hear the real results of their practicing, plus make friends along the way,” said owner Greg Moore in a release. “Our performance-based programs will also play concerts at venues multiple times each year in front of a live audience.”

The music school is the second location for owners, Greg and Amy Moore, who first opened School of Rock in West Des Moines in 2019, the first in Iowa.

“I was visiting a friend in Chicago who took me to his son’s show at School of Rock,” said Mr. Moore. “I was completely taken aback by the way the students sounded and performed on stage. And jealous that there wasn’t a program like this in Iowa.”

Amy and Greg are passionate about music and determined to create an environment for students to find music and build a love for it in their lives. They strongly believe in creating a community of inclusiveness for all who want to share in the joy of music, regardless of a student's personal challenges or special needs.

“It's been humbling to experience the extremely warm reception the community has shown us,” said Mr. Moore. “We are excited to see healthy interest in our school, and our programs are filling up quickly!”

For more information about School of Rock, go here.
Connect with the CBJ

The CBJ’s mission of informing and connecting the Corridor’s business community is more important than ever. Our news operations will continue researching and reporting on the impacts of the COVID-19 pandemic through our multiple distribution channels. Here’s how you can connect with us today and moving forward:

  • You can reach our newsroom directly with leads, updates, cancellations, etc. at news@corridorbusiness.com.
  • Our comprehensive, deep-dive content continues in our weekly CBJ. If you are not a digital subscriber, you can sign up here.
  • Our daily news coverage solution is spread throughout the week with our free e-newsletters. If you have not already signed up, you can do so here.
  • Updated coronavirus information will also be published on our website, corridorbusiness.com/latest-coronavirus-updates, and through our Facebook, Twitter and LinkedIn channels.
  • All of our staff members remain available to assist you. You can find our full contact information at www.corridorbusiness.com/cbj-contact.

Remember: Subscribers can access the digital CBJ anytime and anywhere. Don't remember your password? Please email jean@corridorbusiness.com for a password reset.

The CBJ print subscribers can also temporarily have the CBJ mailed to their home. To temporarily switch your address, please send your full temporary mailing address to jean@corridorbusiness.com. Please include start and stop dates for the temporary address.

Thank you for your continued support of the Corridor Business Journal.
Short Term Event Planner

April 7
1 Million Cups, by 1MC Cedar Rapids, 8:30 a.m., online. Join for community connections and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit facebook.com/1MCICR.

1 Million Cups, by 1MC Iowa City, 9 a.m., online. Join for community connections and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit facebook.com/1MillionCupsIC.

How to Share Your Brand Story Using Social Media, by Hills Bank Business Academy, 10 a.m., online. Brook Easton, of Easton Design, will help you define your brand narrative, show you practical techniques to share your brand narrative on social media and share best practices for social media marketing. Free. To register, visit bit.ly/3elEOlN.

Back to the Future: Manufacturing 4.0, Iowa’s Roadmap for the Fourth Industrial Revolution, by Cedar Rapids Metro Economic Alliance, noon-1 p.m., online. Learn about the State of Iowa's Manufacturing 4.0 plan, a comprehensive roadmap to help Iowa manufacturers remain globally competitive through what has been termed a "fourth industrial revolution" that emphasizes automation and smart technology. Free. To register, visit bit.ly/31dcASt. 
See something we missed?
Send tips, leads, corrections, etc. to news@corridorbusiness.com.
Headlines from KCRG-TV9
These news items are provided by KCRG-TV9 

While all adult Iowans are eligible to sign up for a COVID-19 vaccine, the message from county health departments and pharmacies on vaccination appointments remain the same: If you make one, keep it. “Every dose that we have right now is just like liquid gold,” Heather Meador, of Linn County Public Health, said. Iowans 16 and older are now able to receive the Pfizer vaccine, and those 18 and older will be given either the Moderna or Johnson & Johnson vaccine. With shots in short supply and demand still high, some people have put their names on multiple waitlists or made multiple appointments to see which option delivers them their first dose the earliest. Read the full story here.

Cornell College will offer its new Iowa Promise Scholarship to help students afford the costs of private college. School officials say it will bring tuition costs in line with Iowa’s three state universities. It awards Iowa residents $30,000 in financial aid. That’s about half the cost to attend Cornell, before financial aid. The idea of the Iowa Promise Scholarship is to show students that private education can be affordable. Without financial aid, Cornell’s website reports attendance costs around $60,000 a year. To qualify, a person must be an Iowa resident, a first-time student and live on campus. The scholarship is renewable for up to four years for those with good academic progress. Read the full story here.

These news items are provided by KCRG-TV9
Your KCRG-TV9 First Alert Forecast
Expect partly to mostly cloudy skies through the day. Areas along and north of Highway 20 have the potential of scattered showers and storms throughout the day. Highs this afternoon will be in the upper 70s, low 80s. Overnight temperatures fall into the upper 50s as another round of storms pushes in late tonight. Scattered showers and storms are possible tomorrow morning with storm chances increasing by the afternoon and evening. Highs in the upper 60s.