Hiawatha Economic Development Corporation

What Hiawatha Economic Development Corporation does

Hiawatha Economic Development Corporation (HEDCO) is the non-profit economic development corporation serving the City of Hiawatha, Iowa, a community of more than 7,000 residents located on the I-380 corridor in Eastern Iowa. HEDCO is governed by a Board of Directors of local business leaders and city officials and operates with a small staff led by Executive Director Liz Mathis. The City of Hiawatha was incorporated in 1950, and HEDCO's stated mission is to cultivate economic growth by building partnerships with local public and private organizations and advocating for current and prospective businesses.

HEDCO's service portfolio spans business development consulting, site selection assistance, Tax Increment Financing (TIF) administration (with decisions reportedly rendered within 24 hours), workforce training partnerships with Kirkwood Community College (Iowa New Jobs Training Program 260E, Accelerated Career Education 260G, Workforce Training and Economic Development WTED), a HEDCO Business Membership program, and a digital business directory. The organization runs quarterly Hiawatha Business Summits covering topics such as AI, workforce attraction, ESG, and mental health, as well as annual State of the City events. Programs are delivered through the hedco.org website, Facebook, LinkedIn, and YouTube channels, and direct one-on-one engagement.

HEDCO's revenue model is a hybrid of annual business membership subscriptions and TIF-related professional services (with 5-8 businesses accepting Hiawatha TIF financing per year), supplemented by municipal support and partner contributions; pricing is not publicly disclosed. Customer segments include current and prospective businesses in Hiawatha (Crystal Group, Climate Engineers, Cedar Graphics, World Class Industries, Dave Wright Nissan Subaru, Mercy Hiawatha Medical Park, Honkamp Krueger, Premier Staffing, Farmers State Bank), site selectors and developers evaluating available sites (Tower Commerce Center, Longfellow Square Business Park), and workforce seekers including veterans under the Home Base Iowa program. HEDCO partners with Alliant Energy, Kirkwood Community College, Iowa State University's Digital Manufacturing Lab, Farmers State Bank, the City of Hiawatha, Armstrong Development, Enseva, ITC Fortis, Linn County REC, McGrath Family of Dealerships, and Ahmann Companies.

Name

Hiawatha Economic Development Corporation

Legal name

Hiawatha Economic Development Corporation

Website

https://hedco.org

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

11–50 employees

Short description

Hiawatha Economic Development Corporation (HEDCO) is a non-profit economic development corporation serving the City of Hiawatha, Iowa. It attracts, retains, and supports businesses through site selection, Tax Increment Financing administration, workforce training partnerships, business memberships, and community events.

Ownership category

akta.pro rank

Product category

Economic Development Services

NAICS

Administration of General Economic Programs (92611), Administration of Housing Programs, Urban Planning, and Community Development (925)

SIC

Services-Management Services (8741), Services-Membership Organizations (8600)

akta.pro primary industry

Economic Development & Business Licensing (Local) (BPAIACAN)

Keywords

• Economic development services
• Tax increment financing
• Site selection assistance
• Workforce development programs
• Business membership programs

Headquarters

HQ city

Hiawatha

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Business Memberships: HEDCO operates a membership program for businesses seeking to partner with the economic development organization. Members gain access to promotional opportunities, networking events, business directory listings, and community engagement.
2. Tax Increment Financing (TIF) Administration: As part of economic development efforts, HEDCO helps administer TIF financing for businesses. TIF provides forgivable loans, deferred interest payments, or property tax rebates to qualifying businesses. Between 5-8 businesses accept Hiawatha TIF financing per year.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

HEDCO serves as the economic development corporation for the City of Hiawatha, Iowa, cultivating economic growth by supporting existing businesses and attracting new companies to relocate or expand. Its core offerings include Tax Increment Financing (TIF) program administration with decisions issued within 24 hours, business membership subscriptions, site selection assistance, workforce development partnerships, quarterly Business Summits, and the annual State of the City event. The organization also promotes Hiawatha as a business-friendly community on the I-380 corridor.

Product overview

Hiawatha Economic Development Corporation (HEDCO) is an economic development organization that serves as the primary business advocacy and economic growth engine for Hiawatha, Iowa. Rather than a unified technology product, HEDCO offers a portfolio of interconnected economic development services including business development support, site selection assistance, Tax Increment Financing (TIF) programs, workforce development partnerships, and community development initiatives. The organization facilitates quarterly Business Summits and annual State of the City events, maintains a business directory of HEDCO partners, and administers incentive programs including tax abatements for qualifying businesses. HEDCO's core function is cultivating economic growth through building partnerships with local public and private organizations, supporting existing businesses, and attracting new businesses to the community.

Differentiator

Problem solved

Functional benefit

Products and services

• Business Development Services

Quantifiable outcome

• 5 of Corridor Business Journal's 25 fastest-growing companies were Hiawatha businesses (Crystal Group, Channel Fusion, Mobile Demand, Boomerang Corporation, Wickwire Chiropractic)
• +4 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and minor.

• Iowa State University Digital Manufacturing LabcoreStrategic or Co-development Partner · 1 September 2019Iowa State University's Digital Manufacturing Lab powered by Alliant Energy provides manufacturers with strategies to improve and expand, offering education on Industry 4.0 technologies including collaborative robots, 3D scanners, and advanced vision systems. The lab collaborates with ISU faculty and students on research and internship opportunities.
• Alliant EnergycoreStrategic or Co-development PartnerAlliant Energy is a key economic development partner providing utility services and supporting digital manufacturing initiatives. They partnered with Iowa State University's Digital Manufacturing Lab to help Iowa businesses adopt Industry 4.0 technologies and provide research, internship opportunities, and business growth support.
• Kirkwood Community CollegecoreStrategic or Co-development PartnerKirkwood Community College provides workforce training programs including Iowa New Jobs Training Program (260E), Accelerated Career Education (260G), and Workforce Training and Economic Development (WTED). Millions in training dollars have been disbursed to the Hiawatha area through this partnership.
• Ahmann CompaniesminorStrategic or Co-development PartnerAhmann Companies is an economic development partner involved in Hiawatha's development initiatives, including real estate development and home building in the community.
• ArmstrongminorStrategic or Co-development PartnerArmstrong (Armstrong Development Company) is an economic development partner owning two business parks in Hiawatha: Tower Commerce Center on Tower Terrace Road and Longfellow Square Business Park on Center Point Road.
• Farmers State BankcoreStrategic or Co-development PartnerFarmers State Bank is a key economic development partner with representation on HEDCO's Board of Directors (Chair Rusty Smith). The bank serves the financial needs of the Hiawatha business community.
• City of HiawathacoreStrategic or Co-development PartnerThe City of Hiawatha works closely with HEDCO on economic development initiatives, including TIF financing, infrastructure improvements, and business attraction efforts.
• Linn County Rural Electric CooperativeminorStrategic or Co-development PartnerLinn County REC is an economic development partner providing rural electric services to support business operations in the Hiawatha area.
• McGrath Family of DealershipsminorStrategic or Co-development PartnerMcGrath Family of Dealerships is an economic development partner and active member of the Hiawatha business community.
• Home Base IowacoreStrategic or Co-development PartnerHome Base Iowa is a state program that connects Iowa businesses with veterans for job placement. Hiawatha is one of 22 designated Home Base Iowa Communities, helping veterans transition to civilian employment and education.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Others

• International Economic Development Council: Industry association for economic development professionals and organizations. Provides training, accreditation, and best-practice frameworks that local EDOs such as HEDCO commonly reference for program design and benchmarking.

Direct peers

• Iowa City Area Development Group: Eastern Iowa economic development organization providing site selection, incentives administration, and workforce support to businesses locating in the Iowa City region. Comparable mission and rural/small-metro Iowa context to HEDCO.
• Quad Cities Chamber of Commerce: Bi-state regional chamber and economic development organization serving the Iowa/Illinois Quad Cities. Comparable in providing site selection, business retention, and incentive advocacy for a multi-county region.
• Cedar Rapids Metro Economic Alliance: Regional economic development organization serving the Cedar Rapids metro, which includes Hiawatha. Directly competes with HEDCO for the same prospective employers, relocations, and expansions within the same labor shed and I-380 corridor.
• Greater Des Moines Partnership: Central Iowa's regional economic development and chamber organization, marketing the Des Moines metro to prospective employers. Offers a useful comparator for partnership-driven EDO models operating in Iowa.
• Dubuque Area Chamber of Commerce: Northeast Iowa chamber and economic development organization supporting Dubuque-area employers with business attraction, retention, and workforce programs. Similar scale and rural Iowa operating context.

Broad incumbents

• Iowa Economic Development Authority: State-level agency administering the major economic development incentive programs HEDCO helps local businesses access. Sets the broader incentive framework (including TIF-related programs) that HEDCO executes against at the local level.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCgsqDdi4cey1OvkgTHIBYWA
• Facebookfacebook.com/hedcoiowa
• LinkedInlinkedin.com/company/hiawatha-economic-developement-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hiawatha Economic Development Corporation