Business

Iowans placed almost $1.25 billion in sports bets in the first six months of the current fiscal year, according to records published Friday by the Iowa Racing and Gaming Commission (IRGC).

• That surpasses the amount wagered in the entire previous fiscal year, averaging more than $6.8 million each day between July and December.

Why it matters: Much of the bets are placed online and critics like Tom Coates of Consumer Credit of Des Moines warn that the convenience is fueling addictions and social problems.

• Efforts to expand Iowa's online gaming to casino games is underway.
• Prairie Meadows is one of the only nonprofit casinos in the nation and its profits help pay county debt and assist dozens of nonprofits.

A Chicago-based developer's agreement to purchase the YMCA property in downtown Des Moines has been terminated, Leisha Barcus, CEO of the Y's Greater Des Moines branch, told Axios yesterday.

Why it matters: The Wellmark YMCA is one of the biggest fitness centers in the metro and — while it remains open — its future ownership is uncertain.

Creating a more competitive statewide tax policy is the Iowa Business Council's (IBC) top priority this year, spokesperson Christopher Diebel told Axios.

State of play: Iowa's state government is sitting on a $1.24 billion budget surplus.

• Tax reform is a top agenda item this year for some Republican leaders who want to eliminate state income tax.
• Democrats argue a better option is to allocate some of the money to help resolve problems like inadequate child care.

What they're saying: Reducing taxes on businesses and individuals would help attract employers and people to the state, IBC's director Joe Murphy said in an online statement.

Editor's note: This story is part of Axios Des Moines' New Year's series, in which community leaders are asked to share their "1 big thing" for 2022.

Des Moines officials approved a $15.5 million project this week to build two storage facilities on the edge of downtown's developing Market District.

Why it matters: The development is estimated to result in an additional $14 million in taxes over the next 30 years, according to the city.

VizyPay's Cash Discount Program was one of the winners in last week's Best in Biz Awards.

Why it matters: The Waukee-based business is helping merchants and their customers save big bucks.

Tickled Turquoise, a 10-by-12-foot arts and crafts store in Des Moines' North of Grand neighborhood, is welcoming visitors this holiday season.

• The shop hosted its first Christmas open house Friday.

Why it matters: Tiny businesses could be the next frontier for local entrepreneurs, owner Misty Oetker told Axios.

There's always been an eclectic spark to downtown Des Moines' 4th St., nestled between Walnut St. and Court Ave.

• Punk kids could watch their friends play at Vaudeville Mews. Newscasters made Java Joe's their home base. It's the birthplace of crab rangoon pizza.
• If the halls of The Randolph Hotel could talk — boy, what they would say.

But the pandemic came hard for the area known for its vibrant nightlife and unique entertainment options.

From Chick-fil-A to Starbucks, more corporations and CEOs are addressing social and political issues, especially as millennials and Gen Z pressure them to take public stances.

Yes, but: Those stances are a double-edged sword when it comes to hiring talent, especially in our current workforce shortage, according to a new study from the University of Iowa.