West Des Moines considers attracting new industries
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West Des Moines is wrapping up its first major economic development strategic plan since 2017.
Why it matters: The plan will help guide city leaders over the next decade on potential development sites, financial incentives and what types of employers and industries to attract.
- The city paid Newmark $220,000 to create the plan, the Business Record reported.
The big picture: Finance and insurance, the city's traditional major industries, could face headwinds due to AI's potential impact on white-collar employment, per Newmark.
Zoom in: Data center expansion may also slow down because of nationwide power constraint concerns. Plus, the industry has matured, West Des Moines economic development director Ryan Moffatt tells Axios.
Newmark recommends the city diversify and pursue companies focusing on ag tech, cold storage facilities and specialty food manufacturing, per the report.
- That can include manufacturing health products and supplements, rather than more traditional food production like meat packing facilities.
- Potential sites are on the vacant southwest side of the city, like the western side of Grand Avenue and near Veterans Parkway, Moffatt says.
The intrigue: The plan also addresses the MidAmerican Energy RecPlex corridor and the hodgepodge of developments, such as the sports complex, DMACC, a future water park, and the data centers farther west.
- Newmark recommends creating a more concrete plan and deciding whether the city wants it to be more residential, industrial or commercial, since all of those zonings "don't always play nice next to each other," Moffatt says.
What's next: The report is in its late draft stages, and includes 56 recommendations, Moffatt says. A final report is expected to go before the city council June 1.