McGraw Hill relocate Port of Dbq
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MEMORANDUM
March 27, 2006
TO: The Honorable Mayor and City Council Members
FROM: Michael C. Van Milligen, City Manager
SUBJECT: The McGraw-Hili Companies, Inc.
Iowa Department of Economic Development
Application for Financial Assistance
McGraw-Hili has announced its intent to relocate and expand its Kerper Boulevard
operations to the Port of Dubuque. The company will retain 276 existing full-time
positions and add 24 new full-time positions (averaging $14.57 per hour plus benefits).
Additionally, the company currently employs 113 permanent part-time (nine month)
positions and will add 20 new part-time positions.
McGraw-Hili is one of the largest media companies in the world, known especially for its
international textbook, testing and professional publishing operations. McGraw-Hili will
be investing over $32 million in this project including the construction of a new four-stor;K
140,000 square foot office building in the Port of Dubuque on the northwest corner of 5t
and Bell Street.
To assist this project, McGraw-Hili has requested a partially forgivable Community
Economic Betterment Account (CEBA) loan of $500,000 and a Public Improvement
Assistance Program (PIAP) forgivable loan of $500,000. City financial assistance, as
local match for the State financial assistance, is required and is proposed to be a land
acquisition grant worth $544,500, representing a 50% reduction in the price of 2.5 acres
in the Port of Dubuque. The City will additionally commit to a 1 O-year tax increment
financing (TIF) rebate of actual taxes paid by the company. This is estimated by the
company to be worth approximately $6,000,000.
Economic Development Director Dave Heiar recommends City Council authorization to
submit an application for State financial assistance on behalf of The McGraw-Hili
Companies, Inc., with a commitment from the City to assist the project with a land
discount and TIF tax rebate.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
(hJ ~~ jVJJt~
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
David Heiar, Economic Development Director
CITY OF DUBUQUE, IOWA
MEMORANDUM
March 27, 2006
TO:
FROM:
Michael Van Milligen, City Manager
O"ld Hel". E,,"oml, Oe..lopmeo! Olre'!O~ .
The McGraw-Hili Companies, Inc.
Iowa Department of Economic Development
Application for Financial Assistance
SUBJECT:
INTRODUCTION
This memorandum presents for City Council review and approval a resolution authorizing
the submission of an application for financial assistance (utilizing Community Economic
Betterment Account (CEBA) and Public Improvement Assistance Program (PIAP) funding)
to the Iowa Department of Economic Development on behalf of The McGraw-Hili
Companies, Inc. The financial assistance application is attached.
BACKGROUND
McGraw-Hili is one of the largest media companies in the world known especially for its
international textbook, testing and professional publishing operations. The company has
announced its intent to relocate and expand its Kerper Boulevard operations to the Port of
Dubuque. The company will retain 276 existing full-time positions and add 24 new full-time
positions over a 3 year period. Additionally, the company currently employs 113 permanent
part-time (nine month) positions and will add 20 new part-time positions.
The application on behalf of the company will provide financial assistance to enable the
company's expansion in Dubuque. As required by the financial assistance programs, the
application requires a financial commitment from the City to the project.
DISCUSSION
The McGraw-Hili Companies have spent the last several months determining the best
strategy for their company's expansion opportunities in the Midwest. Their Burr Ridge,
Illinois facility was considered as a possible relocation and expansion site. In discussions
with the company and the Iowa Department of Economic Development (IDED), a financial
incentive package was proposed to convince the company to complete their expansion
project in Dubuque.
In its application to IDED, McGraw-Hili has commited to employ 24 new full-time employees
averaging $14.57 per hour plus benefits. The Company will be investing over $32 million in
land acquisition, new construction of a 4-story 140,000 square foot office building and
startup operational expenses, including computer equipment, furniture and fixtures and job
training costs.
To assist this project, McGraw-Hili has requested a partially forgivable CEBA loan of
$500,000 and a PIAP forgivable loan of $500,000. City financial assistance, as local match
for the state financial assistance, is required and is proposed to be a land acquisition grant
worth $544,500 representing a 50% reduction in the price of 2.5 acres in the Port of
Dubuque. The City will additionally commit to a 1 O-year tax increment financing (TIF)
rebate of actual taxes paid by the company. This is estimated by the company to be worth
approximately $6,000,000.
RECOMMENDATION
I recommend that the City Council authorize the submission of an application for state
financial assistance on behalf of The McGraw-Hili Companies, Inc. with a commitment
from the City to assist the project with a land discount and TIF tax rebate.
This project is consistent with the City's goals to redevelop the Port of Dubuque, assist
existing local businesses to expand in the community and increase the number of good
paying jobs for our citizens.
ACTION STEP
The action step for the City Council is to adopt the attached resolution.
attachments
F:IUSERSIPMyhreIWPDOCSILOANDOCIMCGRAWH ILL21CEBA APP memo.doc
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE FILING OF AN IOWA
DEPARTMENT OF ECONOMIC DEVELOPMENT APPLICATION FOR
FINANCIAL ASSISTANCE ON BEHALF OF THE MCGRAW-HILL
COMPANIES, INC.
Whereas, The McGraw-Hili Companies, Inc. has proposed the expansion and
relocation of its operations to the Port of Dubuque, Iowa; and
Whereas, the City Council of Dubuque, Iowa has considered said proposal and
has determined that the proposed project will contribute to the local economy through
the retention of 276 full-time jobs and the creation of 24 new full-time jobs for area
residents; and
Whereas, the Iowa Department of Economic Development's financial assistance
programs are designed to assist in the economic development efforts of local
jurisdictions; and
Whereas, the City of Dubuque, Iowa is eligible to apply for funding from the state's
financial assistance programs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DUBUQUE, IOWA:
Section 1. That the filing of an Iowa Department of Economic Development
Application for Financial Assistance on behalf of The McGraw-Hili Companies, Inc. is
hereby approved.
Section 2. That the local match identified in the application consisting of a land
discount and a 1 O-year TIF rebate to the company is hereby approved, subject to the Iowa
Department of Economic Development's approval of the application.
Section 3. That the Mayor is hereby authorized to execute and the City Manager is
hereby directed to submit said application to the Iowa Department of Economic
Development together with such documents as may be required.
Passed, approved, and adopted this 3rd day of April 2006.
Roy D. Buol, Mayor
Attest:
Jeanne Schneider, City Clerk
F:IUSERS\PMyhreIWPDOCS\LOANDOC\MCGRAWHILL2ICEBA app res.doc
IOWA
Ii e I changing~
Mary Lawyer, Director
Iowa Department of Economic Development
Application for Financial Assistance
Section A - Applicant & Project Information
Business Development Division
Iowa Department of Economic Development
200 East Grand Avenue
Des Moines, Iowa 50309
www.iowalifechanqillg.com
3/06/2006
Instructions
1, All applicants shall complete Section A of the Application for Financial Assistance and attach on Iv those section(s) for the
program(s) to which the applicant is applying,
ProQram
Community Economic Bettenmeant Account (CEBA)
Enterprise Zone Program (EZ)
High Quality Job Creation Program (HQJC)
Entrepreneurial Ventures Assistance Program (EVA)
Value Added Agricultural Products & Processes
Financial Assistance Program (VAAPFAP) Section F
Economic Development Set-Aside Program (EDSA) Section G
2, Please visit the IDED Web site, http://www.iowalifechanQinQ.com/applications/busdev/index.htmlor contact IDED at (515)
242-4819 to see if this version of the application is still current.
3, Before filling out this application form, please read all applicable sections of the 2005 Iowa Code and Iowa Administrative
Code (rules), http://www4.leQis.state.ia.us/IAChtml/261.htm
4, Only tvped or computer-Qenerated applications will be accepted and reviewed, Any material change to the fonnat,
questions, or wording of questions presented in this application, wili render the application invalid and it will not be
accepted,
5, Complete the applicable sections of the application fully; if questions are left unanswered or required attachments are not
submitted, an explanation must be included,
6, Use clear and concise language, Attachments should only be used when requested or as supporting documentation,
7, Any inaccurate information of a significant nature may disqualify the application from consideration,
8, Upon completion of the application, please submit the following to the Business Finance Team at IDED:
. The original, signed application form and all required attachments
. One copy of the application fonm and all required attachments from which additional copies can easilv be made,
If electronic copies of the application and required attachments are available, please e-mail these documents to
businessfinance@iowalifechanQinQ,com in addition to submitting the original plus one copy,
Business Finance Team
Iowa Department of Economic Development
200 East Grand Avenue
Des Moines IA 50309
Download and Complete
Section B
Section C
Section D
Section E
Application Due Dates
IDED Board Meetin A lication Due Date
October 20, 2005 Se tember 26, 2005
November 17,2005 October 24,2005
December 15,2005 November 21,2005
. EVA applications will be acted upon every other month starting in March,
Section A - Applicant & Proiect Intormation 2
Public Records Policies
Information Submitted to IDEO. The Iowa Department of Economic Development (IDEO) is subject to the Open Records law
(Iowa Code, Chapter 22). Treatment of information submilled to IDEO in this application is governed by the provisions of the
Open Records law. All public records are available for public inspection. Some public records are considered confidential and
will not be disclosed to the public unless ordered by a court, the lawful custodian of the record, or by another person duly
authorized to release the information.
Confidential Records. IDEO automatically treats the following records as confidential and they are withheld from public
disclosure:
. Tax Records
. Quarterly Iowa Employer's Contribution and Payroll Report prepared for the Iowa Workforce Development Department
. Payroll Registers
. Business Financiai Statements and Projections
. Personal Financial Statements
Other information supplied to IDEO as part of this application may be treated as confidential under Iowa Code section 22.7.
Following are the classifications of records which are recognized as confidential under Iowa law and which are most frequently
applicable to business information submilled to IDEO:
. Trade secrets [Iowa Code 322.7(3)]
. Reports to governmental agencies which, if released, would give advantage to competitors and serve no pUblic purpose.
[Iowa Code 322.7(6)]
. Information on an industrial prospect with which the IDEO is currently negotiating. [Iowa Code 322.7(8)]
. Communications not required by law, rule or regulation made to IDEO by persons outside the govemment to the extent that
IDEO could reasonably believe that those persons would be discouraged from making them to the Department if they were
made available for general public examination. [Iowa Code 322.7(18)]
Information supplied to IDEO as part of this application that is material to the application and/or the state program to
which the applicant is applying including, but not limited to the number and type of jobs to be created, wages for those
jobs, employee benefit infonmation, and project budget, are considered open records and will not be treated as
confidential.
Additional Information Available. Copies of Iowa's Open Record law and IDEO's administrative rules relating to public
records are available from the Department upon request or at
hllo:! Iwww.iowalifechanqinq.com/downloads/chao1690oenrecords.doc.
Section A - Applicant & Proiect Information
3
Applicant Information
1. Name of Business: The McGraw-Hili Companies, Inc.
Address: 130 E. Randolph St. Suite 400
City, State & Zip Code: Chicago, II 60601
Contact Person: Margaret Dewald Title: Director-West Region Global Real Estate Services
Phone: 312-233-6556 Fax: 312-233-6511 Email: margareCdewald@mcgraw-hill.com
2. SIC or NAICS Code: 2731
3, Federal 10 Number: 13-1026995
Does the Business file a consolidated tax return under a different tax 10 number? DYes I:8J No
If yes, please also provide that tax 10 number:
4, Is the contact person listed above authorized to obligate the Business? DYes I:8JNo
If no, please provide the name and title of a company officer authorized to obligate the Business:
Edward Stanford, President McGraw-Hili Education
5. If the application was prepared by someone other than the contact person listed above, please complete the following:
Name: Robert Herman Title: Director
Organization: Duff & Phelps, LLC
Address: 130 E. Randolph St. Suite 400
City, State, & ZIP Code: Chicago, 1160601
Phone: 312-233-6852 Fax: 312-896-5953 Email: robert.herman@duffandphelps.com
Sponsor Information
Please review the following table to determine who needs to sponsor this application. Depending on the programs being
appiied for, more than one sponsor may be necessary.
Proaram Acceotable Soonsor
CEBA cliVor Countvor CommuniiV Colleae in which the PrOfect Site is Located
EZ Local Enterorise Zone Commission
HQJC Citv or Countv in which the Proiect Site is Located
EVA City or County in which the Project Site is Located; Local Development Entity: John Pappajohn Entrepreneurial
Center; a Small Business Develooment Center; Business Accelerator; or similar entitv
VAAPFAP Citv or Countv in which the Proiect Site is Located or Local Develooment Entitv
EDSA CliVor Countv in which the Proiect Site is Located
1, Sponsor Organization; City of Dubuque
Official Contact (e,g. Mayor, Chairperson, etc.): Roy D. Buol Title; Mayor
Address: 50 West 131h Street
City, State & ZIP Code: Dubuque,IA 52001-4864
Phone: 563-588-4265 Fax: 563-588-4149 E-mail: rdbuol@cityofdubuque.org
2. If IDEO needs to contact the sponsor organization with questions, should we contact the person listed above?
D Yes I:8J No, please contact the following person:
Name; Dave Heiar Title: Economic Development Director
Address: 50 West 131h Street
City, State & ZIP Code: Dubuque,IA 52001-4864
Phone: 563-589-4393 Fax: 563-589-1733 E-mail: dheiar@cityofdubuque.org
If necessary, please list information on additional sponsors in an attachment.
Section A - Applicant & Project Information 4
Certification & Release of Information
I hereby give permission to the Iowa Department of Economic Development (IDEO) to research the Business' history, make
credit checks, contact the Business' financial institutions, insurance carriers, and perform other related activities necessary for
reasonable evaluation of this application. I also hereby authorize the Iowa Department of Revenue to provide to IDEO state tax
information pertinent to the Business' state income tax, sales and use tax, and state tax credits ciaimed.
I understand that all information submitted to IDEO related to this application is subject to Iowa's Open Record Law (Iowa Code,
Chapter 22).
I understand this application is subject to final approval by IDEO and the Project may not be initiated until final approval is
secured. (High Quality Job Creation Program applications may be submitted up to 12 months following the completion ofthe
project.)
I understand that IDEO reserves the right to negotiate the financial assistance. Furthermore, I am aware that financial
assistance is not available until an agreement is executed within a reasonable time period following approval.
I hereby certify that all representations, warranties, or statements made or furnished to IDEO in connection with this application
are true and correct in all material respect. I understand that it is a criminal violation under Iowa law to engage in deception and
knowingly make, or cause to be made, directly or indirectly, a false statement in writing for the purpose of procuring economic
development assistance from a state agency or subdivision.
For the Business:
Signature
Date
Margaret Dewald-Director
Name and Title (typed or printed)
For the Sponsor(s):
Signature
Date
Name and Title (typed or printed)
Please use the following if more than one sponsor is required. (For example, use this if a signature from the local Enterprise
Zone Commission is required in addition to the signature from the Mayor of the sponsoring city.)
Signature
Date
Name and Title (typed or printed)
IDEO will not provide assistance in situations where it is determined that any representation, warranty, or statement made in
connection with this application is incorrect, false, misleading or erroneous in any material respect. If assistance has already
been provided prior to discovery of the incorrect, false, or misleading representation, IDEO may initiate legal action to recover
incentives and assistance awarded to the Business.
Section A - Applicant & Project Information
5
Proiect Information
1. Provide a brief description and history of the Business. Include information about the Business' products or services
and its markets and/or customers.
Founded in 1888 and with 2004 revenues in excess of $5 billion and net income in excess of $750 million, McGraw-Hili
is one of the largest media companies in the world, renowned especially for its international textbook, testing and
professional publishing operations, for its Standard & Poor's division, a worldwide provider of essential financiai
information and Ratings, for a range of business publications, including BusinessWeek, and for other information
services which are acknowledged leaders in their fields: Dodge (construction information), Platt's (information on
petrochemical markets), J.D. Power (automotive and other markets).
The McGraw-Hili Companies, Inc. is a public corporation, listed on the New York Stock Exchange.
2.
Business Structure:
D Cooperative
D Partnership
[:;:::J Corporation
D S-Corporation
D Limited Liability Company
D Sole Proprietorship
D Not for Profit
State of Incorporation: New York
3. Identify the Business' owners.
Stock and bondholders of the McGraw-Hili Companies, Inc.
Does a woman, minority, or person with a disability own the Business?
If yes, is the business certified as a Targeted Small Business?
DYes
DYes
[:;:::J No
[:;:::J No
4. List the Business' Iowa Locations and the Current Number of Employees at each Location.
Location
Coralville
Davenport
Urbandale
Employees
35
2
46
5. What is the Business' worldwide employment? (Please include employees of parent company, subsidiaries, and other
affiliated entities in this figure.)
17,000 employees.
6. Briefly describe the proposed project for which assistance is being sought. (Include project timeline with dates, facility
size, infrastructure improvements, proposed products/services, any new markets, etc.)
MHE needs to relocate their Dubuque Office to accommodate the retention of 276 full-time jobs and anticipated growth
of 24+ full-time employees. MHE is currently leasing 103,985 square feet on a short-term basis in Dubuque. MHE is
planning to construct a 4-story, 140,000 +/- square foot single-tenant office building. Construction would commence in
Spring of 2006 with occupancy occurring in 2007.
7. Project Address (Street Address, City, and County): Bell Street, Dubuque, Iowa.
Section A - Applicant & Project Intormation
6
8. Type of Business Project:
D Startup ~ Expansion of Iowa Company ~ New Location in Iowa
D Relocation from another State
9. Please identify the management at the project location and his/her/their experience.
The management team consists of a President, several Vice Presidents and numerous Directors and Managers. All
have significant experience in the educational publishing industry.
10.
Has any part of the project started?
If yes, please explain.
DYes
~No
Section A - Applicant & Project Information
7
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12. Employee Benefits: Please identify all employee benefits provided by and paid for (in full or in part) by the Business.
Employee Benefits Total Annual Cost
Provided by the (show on a per
Business employee basis)
Em 10 ee Famil
See "Plan See "Plan
Medical/Health Provisions" Provisions"
Insurance section. .. section. ..
* John Deere HMO cost based cost based
*Medical Associates on on
*UHC POS coverage coverage
level and level and
employee's employee's
sala . sala
See "Plan See "Plan 80%
Dental Insurance Provisions" Provisions"
*McGraw-Hill Dental Pia section.. . section...
PPO cost based cost based
on on
coverage coverage
level level
Plan Provisions
(Include deductibles, coinsurance %, office visit
co-payments, annual out-of-pocket maximums,
face amounts, etc.
,
(See separate attachment. Plan Summaries
for each medical plan)
80% (See separate attachment. Plan Summaries
for the dental plan)
Vision Insurance
$0
N/A
100%
N/A
Basic Life Insurance: 1 x salary, up to
$100,000
Supplemental: 1-5x salary.
Life Insurance (Basic)
Life Insurance
(Supplemental)
$0
N/A
100%
N/A
The Short-Term Disability Plan (STD)
provides you with all or part of your
compensation (determined by your
years of service) for up to 26 weeks.
100% Salar based on ears of service.
Short Term Disability
(STD)
Section A - Applicant & Project Information
10
66% Salary for balance of time up to 26
weeks.
$0 N/A 100% N/A The Basic Long-Term Disability (L TD)
Long Term Disability pays a benefit of 50% of your monthly
(LTD) compensation (up to a maximum
monthly benefit of $10,000) if your short
term disability continues for more than
26 weeks
. If the business's plan is self-insured, please use the amount paid by the business for costs associated with employee and family coverage
during the past three years and then, determine the business' average annual contribution per employee for that three year period.
Does the Business offer a pension plan, 401(k) plan, and/or retirement-plan? ~ Yes D No
If yes, please indicate the amount contributed on a per employee basis by the Business to the plan. For 401 (k) plans, please
provide infomnation on the company match and indicate the average annual match per employee (show average as a
percentage of salary).
The 401(k) Savings Plan is voluntary. Employees can contribute from 1% to 25%, before tax or aftertax up to the IRS limit of
$15,000 for 2006. Participants who will be age 50 or older in 2006 may elect to contribute an additional $5,000 "catch-up". The
company matches 1 00% on the first 3% of employee pre-tax contributions, then 50% on the next 3% of employee pre-tax
contributions. Employees are fully vested in their contributions and the company match immediately.
The Pension Plan provides a monthly benefit when you retire. The fomnula is 1% of plan eligible eamings for each year you
are employed with McGraw-HilI.
Does the Business offer a profit-sharing plan? ~ Yes D No
If yes, please indicate total amount paid out each year for the past three years and then, detemnine the average annual bonus or
contribution per employee for that three year period.
The Profit Sharing Plan provides an annual contribution to employees. Profits permitting, the company contributes 2.5% of
plan-eligible earnings up to the Social Security Wage Base (the SSWB for 2006 is $94,200) and 5% above the SSWB, up to the
IRS earnings limit, which is $220,000 for 2006.
Does the Business offer child care services? D Yes ~ No
Child care services include child care services on-site at the facility in which the project will occur or off-site child care
subsidized by the business at the rate of 50% or more of the costs incurred by an employee.
13. Identify the Business' competitors. If any of these competitors have Iowa locations, please explain the nature of the
competition (e.g. competitive business segment, estimated market share, etc.) and explain what impact the proposed
project may have on the Iowa competitor.
Pearson Education and Reed Elsevier Group (Harcourt Education) have facilities in Iowa City, Iowa. Both are involved
in educational testing. It is not believed the proposed project would have an impact on these competitors' business.
Section A - Applicant & Project Information
11
14. Will any of the current Iowa employees lose their jobs if this project does not proceed in Iowa?
~ Yes D No
If yes, please explain why and identify those jobs as "retained jobs" in the following question.
McGraw-Hili Education is planning to expand their space in their office building in Burr Ridge, IL (a Chicago suburb).
Based upon local demographics, schools and housing stock, the area is very attractive for middle to upper management
executives. Consequently, relocation of middle to upper management from Dubuque to Burr Ridge is a distinct possibilityjf the
property is not sited in Dubuque. For those executives not willing to relocate, there would be limited job opportunities remaining
for them at McGraw-Hili Education in Dubuque.
Section A - Applicant & Project Information
12
15. List the jobs that will be retained andlor created as the result of this project. (A retained job is an existing job that
would be eliminated or moved to another state if the project does not proceed in Iowa.) For retained jobs, include the current
hourly wage rate. For jobs to be created, including the startina hourly wage rate.
Job Title Skills, Education, or Number Retained Starting
Experience Required of Jobs (R)or or Current Current Wage Rate
Created @ Wage Benefit Plus Benefit
Rate Rate Rate
Year 1 ofthe Project
ADMIN ASST HS diploma; post secondary 4 R $24,794 $6,037 $30,831
preferred;
ADMIN ASST/SR HS diploma; post secondary 3 R $31,026 $7,555 $38,581
preferred;
ADMNSTRTR-DATA BASE/SR Bachelor Degree 1 R $91,216 $22,211 $113,427
ADMNSTRTR-DGTL ASSET LIBRARIAN AA or Bachelor Degree; 1 R $32,044 $7,803 $39,847
computer related or
equivalent work experience
ADMNSTRTR-INTERNET Bachelor Degree 1 R $51,963 $12,653 $64,616
ADMNSTRTR-MAIL SERVERlSR Bachelor Degree 1 R $67,135 $16,347 $83,482
ADMNSTRTR-NETWORK Bachelor Degree or similar 1 R $40,528 $9,869 $50,397
equivalent work experience
ADMNSTRTR-SYSTEMS/SR Bachelor Degree or similar 1 R $56,638 $13,791 $70,429
equivalent work experience
ANALYST-DEVELOPER Bachelor Degree; computer 1 R $46,058 $11,215 $57,273
science or related field; web
development and SOL
database experience
ANALYST-DEVELOPER INTERMEDIATE Bachelor Degree; computer 3 R $54,637 $13,304 $67,941
science or related field; web
development and SOL
database experience
ANALYST-DEVELOPER TEAM LEADER Bachelor Degree; computer 4 R $89,981 $21,910 $111,891
science or related field; web
development and SOL
database experience;
ANAL YST-DEVELOPERlSR Bachelor Degree; computer 2 R $79,211 $19,288 $98,499
science or related field
ANALYST-LEAD SUPPORT Bachelor Degree; computer 1 R $76,960 $18,740 $95,700
science or related field
ANALYST-TELE COMM HS diploma; post secondary 1 R $56,160 $13,675 $69,835
preferred;
telecommunications
exoerience
ARCHITECT-ADVANCED SOLUTIONS Bachelor Degree; computer 1 R $70,272 $17,111 $87,383
science or related field
ARCHITECT -SRlSOLUTIONS Bachelor Degree; computer 1 R $81,507 $19,847 $101,354
science or related field
Section A - Applicant & Project Information
13
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required 01 Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
Vear 1 01 the Project (conI.)
ARCHITECT-TEAM LEAD Bachelor Degree; computer 1 R $99,367 $24,196 $123,563
science or related field
ARCHIVIST Bachelor Degree preferred 1 R $30,000 $7,305 $37,305
ARCHIVIST-LEAD Bachelor Degree preferred 1 R 40,775 $9,929 $50,704
ARCHIVIST-SR Bachelor Degree prelerred 1 R $30,889 $7,521 $38,410
ASSOC-PRODUCER Bachelor Degree; educational 1 R $35,350 $8,608 $43,958
media publishing experience;
media authoring tools and
internet tools experience
ASST MGR-INSIDE SALES Bachelor Degree; sales 2 R $65,335 $15,909 $81,244
experience
ASST-CUSTOM PUBLlSHING/SR HS Diploma 1 R $35,808 $8,719 $44,527
ASST-EDITORIAL HS diploma; previous 2 R $33,532 $8,165 $41,697
executive post secondary
oreferred
ASST-EXECUTIVE HS diploma; post secondary 1 R $30,000 $7,305 $37,305
preferred; strong pc skills
ASST -EXECUTIVE SR HS diploma; post secondary 4 R $42,162 $10,266 $52,428
preferred; strong pc skills
ASST -MARKETI NG HS diploma; post secondary 1 R $22,111 $5,384 $27,495
education preferred;
marketing experience
oreferred
ASST-MARKETING/SR HS diploma; post secondary 1 R $23,341 $5,684 $29,025
education preferred;
marketing experience
oreferred
ASST -PRODUCTION HS diploma; previous 1 R $23,589 $5,744 $29,333
production experience
oreferred
ASST-PRODUCTION SERVICES HS diploma; previous 1 R $16,482 $4,013 $20,495
production experience
oreferred
BUYER-FREELANCE/SR HS diploma 1 R $34,223 $8,333 $42,556
CNSLTNT-E LEARNING Bachelor Degree; sales 1 R $48,904 $11,908 $60,812
experience, technology
knowledge preferred
COORDNTR-ASSOC DESIGN HS Diploma; Bachelor 1 R $33,317 $8,113 $41,430
preferred; design experience
Section A - Applicant & Project Information
14
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required of Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
Year 1 of the Project (con!.)
COORDNTR-DESKTOP PUBL HS; AA preferred; proficiency 1 R $34,023 $8,285 $42,308
with composition programs
COORDNTR-E CONTENT Bachelor Degree; html; meta 1 R $32,992 $8,034 $41,026
html, OSS, Perl, JavaScript
experience
COORDNTR-EDITORIAL Bachelor Degree; college 3 R $38,663 $9,414 $48,077
textbook publishing
exo8rience
COORDNTR-F/L DESIGN SR. Bachelor Degree; design 1 R $44,683 $10,880 $55,563
experience
COORDNTR-MARKET DEVELOPMENT Bachelor Degree; publishing 1 R $31,671 $7,712 $39,383
experience preferred
COORDNTR-MARKETING Bachelor Degree; 1 R $32,117 $7,820 $39,937
marketing/publishing
experience preferred
COORDNTR-MEDIA HS Diploma; post secondary 1 R $27,163 $6,614 $33,777
preferred
COORDNTR-PERMISSIONS Bachelor Degree or 3 R $40,557 $9,876 $50,433
equivalent; knowledge of
copvrioht laws
COORDNTR-PERM ISSIONS/LEAD Bachelor Degree or 1 R $39,596 $9,642 $49,238
equivalent; knowledge of
copvrioht laws
COORDNTR-PHOTO RESEARCH/SR HS Diploma 2 R $36,436 $8,872 $45,308
COORDNTR-PROJECT HS Diploma 2 R $34,004 $8,280 $42,284
COORDNTR-SRlPRDUCTION CORRECTN HS Diploma 1 R $38,360 $9,341 $47,701
DBA-APPLICATIONS ADVANCED Bachelor Degree 1 R $88,723 $21,604 $110,327
DESIGNER Bachelor Degree; book 3 R $46,991 $11,442 $58,433
design preferred; Adobe
Photoshop & Illustrator;
Quark Xoress
DESIGNER-SENIOR Bachelor Degree; book 1 R $47,500 $11,566 $59,066
design preferred; Adobe
Photoshop & Illustrator;
Quark Xpress
DEVELOPER-INTERNET ADMIN Bachelor Degree 3 R $68,087 $16,579 $84,666
DEVELOPER-MEDIA Bachelor Deoree 1 R $40,854 $9,948 $50,802
DIR-DEVELOPMENT Bachelor Degree; editorial 1 R $61,967 $15,089 $77,056
and development experience
DIR-GROUP INTERNET OPRTNS Bachelor's Degree; Computer 1 R $110,900 $27,004 $137,904
Science, Engineering, or
related field
DIR-INSIDE SALES Bachelor Degree; sales 1 R $92,144 $22,437 $114,581
experience
DIR-MARKETING/SR Bachelor Degree; marketing 1 R $82,681 $20,133 $102,814
experience
Section A - Applicant & Project Information
15
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required 01 Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
Year 1 01 the Project (conI.)
DIR-MKTG SYSTEMS & PROMOTION Bachelor Degree; marketing 1 R $75,711 $18,436 $94,147
preferred
DIR-SR SALES/MARKETING BUS SOL Bachelor Degree 1 R $133,120 $32,415 $165,535
EDtTING-MANAGING/DUSHKIN Bachelor De9ree; familiarity 1 R $76,664 $18,668 $95,332
and working knowledge of
publishing process
EDITOR PRODUCTION CUSTOM SR HS Diploma 3 R $35,755 $8,706 $44,461
EDITOR-CUSTOM PRODUCTION HS Diploma; knowledge of 4 R $31,937 $7,777 $39,714
book production and
manufacturinq
EDITOR-CUSTOM PRODUCTION/LEAD HS Diploma; knowledge of 2 R $41,434 $10,089 $51,523
book production and
manufacturinq
EDITOR-DEVELOPMENT II Bachelor Degree; college 1 R $38,766 $9,440 $48,206
textbook publishing
experience
EDITOR-DEVELOPMENTAL I Bachelor Degree; college 6 R $39,828 $9,698 $49,526
textbook publishing
exoerience
EDITOR-DEVELOPMENT/SR Bachelor Degree; college 11 R $60,115 $14,638 $74,753
textbook publishing
exoerience
EDtTOR-EXECUTIVE Bachelor Degree; college 1 R $77,000 $18,750 $95,750
textbook publishing
experience
EDITOR-INDEXING/SR HS Diploma; index 1 R $33,035 $8,044 $41,079
experience preferred
EDITOR-MANAGING DEVELOPMENT Bachelor Degree; college 2 R $50,770 $12,362 $63,132
textbook publishing
exnerience
EDITOR-MANAGING/SR Bachelor Degree; book 1 R $62,979 $15,335 $78,314
production knowledge
EDITOR-PHOTO RESEARCH LEAD HS Diploma; relevant 1 R $45,183 $11,002 $56,185
experience
EDITOR-PROD/PRIM IS CNTENT CNTR HS Diploma; relevant 1 R $40,074 $9,758 $49,832
experience
EDITOR-SPONSORING/SR Bachelor Degree; 3+ years 2 R $76,484 $18,624 $95,108
experience in acquisitions,
sales or marketing
MGR- HUMAN RESOURCES Bachelor Degree; HR 1 R $70,650 $17,203 $87,853
experience
Section A - Applicant & Project Information
16
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required 01 Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
Vear 1 01 the Project (cant.)
MGRlPROJECT-LEAD MEDIA Bachelor or equivalent 2 R $45,433 $11,063 $56,496
MGR-ACCOUNT/SR INSIDE AA or Bachelor Degree; sales 5 R $49,076 $11,950 $61 ,026
experience
MGR-CUSTOM PUBLlSHING/SR Bachelor Degree or 1 R $77,099 $18,774 $95,873
eQuivalent
MGR-CUSTOM PUBLlSING REPS/SR Bachelor Degree or 1 R $77,938 $18,978 $96,916
equivalent
MGR-DESIGN Bachelor Degree; design 1 R $60,942 $14,839 $75,781
experience
MGR-EXECUTIVE MARKETING Bachelor Degree; publishing 2 R $92,700 $22,572 $115,272
experience - sales, editorial
or marketing
MGR-INSIDE SALES AA or Bachelor Degree; sales 7 R $78,856 $19,201 $98,057
experience
MGR-INSIDE SALES/SR AA or Bachelor Degree; sales 1 R $89,661 $21,832 $111,493
experience
MGR-INTERNET MARKETING Bachelor Degree 1 R $49,196 $11,979 $61,175
MGR-MARKET DEVELOPMENT/SR Bachelor Degree 1 R $62,000 $15,097 $77,097
MGR-MARKETING Bachelor Degree - 3 years 4 R $50,470 $12,289 $62,759
marketing, sales or editorial
experience
MGR-MARKETING/SR Bachelor Degree - 3 years 2 R $75,134 $18,295 $93,429
marketing, sales or editorial
experience
MGR-MKT DEV MHHE ONLN LEARN Bachelor Degree 1 R $65,000 $15,828 $80,828
MGR-MEDIA MARKETING Bachelor Degree 1 R $50,904 $12,395 $63,299
MGR-MKTG SYSTEMS & PROMOTIONS Bachelor Degree or 1 R $36,000 $8,766 $44,766
equivalent; marketing
exoerience
MGR-PRODUCTION SERVICES/SR Bachelor Degree or 1 R $68,526 $16,686 $85,212
equivalent work experience
within publishing production
MGR-PROJECT Bachelor Degree- 4 R $39,376 $9,588 $48,964
knowledge of book design
and comoosition
MGR-PROJECT IENGI NERRI NG Bachelor Degree 1 R $90,956 $22,148 $113,104
MGR-PROJECT/LEAD Bachelor Degree or 2 R $48,998 $11,931 $60,929
equivalent work experience
MGR-PROJECT/LEAD MEDIA Bachelor Degree or 1 R $43,731 $10,648 $54,379
equivalent work experience
MGR-PROJECT/SR Bachelor Degree or 6 R $46,112 $11,228 $57,340
equivalent work experience
MGR-SR MEDIA PROJECT Bachelor Degree or 3 R $41,307 $10,058 $51,365
equivalent work experience
Section A - Applicant & Project Information
17
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required of Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
Year 1 of the Project (conI.)
MGR-STRATEGIC SOURCING Bachelor Degree or 1 R $90,000 $21,915 $111,915
equivalent work experience;
5-10 years publishing, vendor
management; services
purchases
PGMMR-INTERN Pursuing Bachelor Degree or 2 R $11,840 $2,883 $14,723
Master Degree in Computer
Science
PRESIDENT-SEM Bachelor Degree; 8-10 1 R $208,000 $50,648 $258,648
successful experience in
senior publishing
management
PRODUCER MEDIA/SR Bachelor Degree; educational 2 R $66,870 $16,283 $83,153
media publishing experience;
media authoring tools and
internet tools experience
PRODUCER-EXEC/MEDIA TECHNOLOGY Bachelor Degree; familiarity 1 R $86,675 $21,105 $107,780
and working knowledge of
publishing process, 5-10
years successful record in
publishing
PRODUCER-LEAD Bachelor Degree; educational 2 R $72,807 $17,729 $90,536
media publishing experience;
media authoring tools and
internet tools experience
PRODUCER-MEDIA TECHNOLOGY Bachelor Degree; educational 3 R $46,906 $11,422 $58,328
media publishing experience;
media authoring tools and
internet tools experience
PUBLISHER Bachelor Degree; familiarity 4 R $110,000 $26,785 $136,785
and working knowledge of
publishing process
REP-ASSOC HR Bachelor Degree; human 1 R $30,000 $7,305 $37,305
resources experience
REP-CUSTOM PUBLlSHING/SR Bachelor Degree preferred; 1 R $40,837 $9,944 $50,781
sales experience
REP-INSIDE SALES AA or Bachelor Degree; sales 40 R $34,015 $8,283 $42,298
experience
REP-INSIDE SALES/SR AA or Bachelor Degree; sales 4 R $34,258 $8,342 $42,600
experience
SPCLST -DESIGN Bachelor Degree; proficiency 1 R $36,271 $8,832 $45,103
with graphics software
SPCLST-CUSTOM PUBLISHING HS Diploma; sales 9 R $33,776 $8,224 $42,000
experience preferred
Section A - Applicant & Project Information
18
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required of Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
Year 1 of the Project (cant)
SPCLST-MARKETING COMM/DUSHKIN Bachelor Degree or 1 R $39,406 $9,595 $49,001
equivalent work related
experience; marketing
preferred
SPCLST-NETWORK I Bachelor Degree or 1 R $52,135 $12,695 $64,630
equivalent work related
experience
SPCLST -NETWORK II Bachelor Degree or 1 R $56,403 $13,734 $70,137
equivalent work related
exoerience
SPCLST-PAGING HS Diploma; post-secondary 3 R $34,386 $8,373 $42,759
education preferred;
proficiency in composition
proorams
SPCLST-PAGING/LEAD HS Diploma; post-secondary 1 R $41,240 $10,042 $51 ,282
education preferred;
proficiency in composition
oroarams
SPCLST-TECH DESK AA preferred; computer 2 R $34,105 $8,305 $42,410
related experience
SPCLST~ECHNOLOGY Bachelor Degree; experience 2 R $62,117 $15,125 $77,242
in information technology and
digital content
SUPV-INSIDE SALES HS Diploma, sales 2 R $43,702 $10,641 $54,343
experience
SUPV-NETWORK Bachelor Degree or 1 R $66,802 $16,266 $83,068
equivalent experience;
network experience
SUPV-PRODUCTION/LEAD HS Diploma 1 R $45,314 $11,034 $56,348
SUPV-PRODUCTION/SR HS Diploma 3 R $40,582 $9,882 $50,464
SUPV-SPECIAL SALES HS Diploma; sales 3 R $41,912 $10,206 $52,118
experience
VP & EDITOR IN CHIEF Bachelor Degree; +7 years 1 R $150,000 $36,525 $186,525
experience acquisitions and
editorial processes; editorial
management experience
VP-DIRECTOR OF MARKETING Bachelor Degree; experience 1 R $145,000 $35,308 $180,308
in sale sand marketing;
successful track record
VP-DIRECTOR/SPCL SALES & SRVCS Bachelor Degree; marketing 1 R $113,056 $27,529 $140,585
and sales experience.
VP-EDITING DESIGN & PRODUCTION Bachelor Degree; design and 1 R $148,755 $36,222 $184,977
production experience
VP-NEW PRODUCT LAUNCHES Bachelor Degree; experience 1 R $152,518 $37,138 $189,656
in editorial processes;
editorial management
experience
WORKER-PROJECT STATUS Bachelor Degree preferred, 2 R $45,894 $11,175 $57,069
CS preferred
SUBTOTAL 269
Section A - Applicant & Project Information
19
2006 OPEN POSITIONS (RESIGNITERMS)
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required of Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
ASST -MARKETI NG HS diploma; post secondary 1 R $20,067 $4,886 $24,953
education preferred;
marketing experience
preferred
COORDNTR-MARKETING Bachelor Degree; 1 R $25,215 $6,140 $31,355
marketing/publishing
experience preferred
ASST-EDITORIAL HS diploma; previous 1 R $22,273 $5.423 $27,696
executive post secondary
oreferred
EDITOR-DEVELOPMENTAL I Bachelor Degree; college 1 R $27,842 $6,780 $34,622
textbook publishing
exnerience
ANALYST -DEVELOPERlSR Bachelor Degree; computer 1 R $49,300 $12,005 $61,305
science or related field
ADMIN ASST HS diploma; post secondary 1 R $20,067 $4,886 $24,953
preferred;
MGR-PROJECT Bachelor Degree - 1 R $31 ,204 $7,598 $38,802
knowledge of book design
and comoosition
SUBTOTAL 7
2007 ADDED HEADCOUNT FROM SPACING REPORT
REP-INSIDE SALES AA or Bachelor Degree; sales 7 C $28,367 $6,907 $35,274
experience
SPCLST-CUSTOM PUBLISHING HS Diploma; sales 2 C $25,845 $6,293 $32,138
experience preferred
EDITOR-SPONSORING Bachelor Degree; 3+ years 1 C $43,400 $10,568 $53,968
experience in acquisitions,
sales or marketing
EDITOR-EXECUTIVE Bachelor Degree; college 1 C $66,014 $16,074 $82,088
textbook publishing
experience
SUBTOTAL 11
Year 1 Subtotal 287 ~
Section A - Applicant & Project Information
20
Year 2 of the Project (2008)
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required of Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
REP-INSIDE SALES AA or Bachelor Degree; sales 2 C $29,076 $7,080 $36,156
experience
SPCLST-CUSTOM PUBLISHING HS Diploma; sales 2 C $26,492 $6,451 $32,943
experience preferred
EDITOR-DEVELOPMENTAL I Bachelor Degree; college C $29,251 $7,123 $36,374
textbook publishing
experience
ASST-EDITORIAL
HS diploma; previous
executive post secondary
preferred
C
$23,400
$5,698
$29,098
Year 2 Subtotal 6
Year 3 of the Project (2009)
Job Title Skills, Education, or Number Retained Starting Current Wage Rate
Experience Required of Jobs (R)or or Current Benefit Plus Benefit
Created @ Wage Rate Rate
Rate
REP-INSIDE SALES AA or Bachelor Degree; sales 3 C $29,803 $7,257 $37,060
experience
SPCLST-CUSTOM PUBLISHING HS Diploma; sates 2 C $27,154 $6,612 $33,766
experience preferred
EDITOR-DEVELOPMENTAL I Bachelor Degree; college 2 C $29,982 $7,301 $37,283
textbook publishing
experience
Year 3 Subtotal 7
Total Number of Retained Jobs: 276
Total Number of Created Jobs: 24
Section A - Applicant & Project Information
21
16. Discuss each of the following items with respect to the proposed project:
a) the current employment conditions in the community, include any business closures, unemployment rates, etc.
and if applicable, the community's need for assistance in attracting the Business.
Recent layoffs have occurred at Flexsteellndustries, Alliant Energy Corporation and Mercy. The current
unemployment rate is 5.1% based upon a civilian labor force of 49,100 workers. Lack of interstate highway access
impedes economic growth.
b) impact of the proposed project on the community and the state, include projections that refiect the impact on local
and state tax revenue and any additional costs the community will incur as the result of the proposed project;
Loss of managerial positions would negatively impact unemployment rate and community stature. Please analysis
below regarding tax impact.
c) impact the proposed project will have on current employees, including the potential for increased skills and wages;
and
The new building would provide an efficiently designed facility enhancing employment interaction and productivity
increasing the opportunity to increase business revenues and employee wages.
d) impact the investment will have on the ability of the business to expand, upgrade, or modernize its capabilities.
The current leased spaced is inefficiently designed due to multiple additions and floor levels creating numerous
obstacles in business operations. The proposed space will have large open fioorplates creating fiexible configurations
for business units as their space needs change over time.
17. Is the Business actively considering locations outside of Iowa? I2J Yes 0 No
If yes, where and what assistance is being offered?
McGraw-Hili Education is planning to expand their space in their office building in Burr Ridge, IL (a Chicago suburb).
Burr Ridge, Illinois. Discussions with the State of Illinois have been focused on EDGE credits and training
grants/assistance. Local incentives include partial property tax abatement.
18. There are three general justifiable reasons for assistance. Check the box next to the reason why assistance is needed
to complete this project
o Financing Gap - The Business can only raise a portion of the debt and equity necessary to complete the
project. A gap between sources and uses exists and state and/or federal funds are needed to fill the gap.
o Rate of Return Gap - The Business can raise sufficient debt and equity to complete the project, but the
returns are inadequate to motivate an "economic person" to proceed with the project. Project risks outweigh the
rewards.
I2J Locational Disadvantage (Incentive) - The Business is deciding between a site in Iowa (site A) and a site in
another state (site B) for its project. The Business argues that the project will cost less at site B and will require a
subsidy to equalize costs in order to locate at site A. The objective here is to quantify the cost differential between site
A and site B.
What measures were analyzed to determine the amount and forrr of assistance needed?
Life-cycle capital and occupancy costs including resale or reversionary value of the building. The capital expenditure
and operating costs are relatively equal for both locations. Real estate taxes have been estimated to be $350,000
greater per year in Burr Ridge over the first 10 years ($3,500,000) but the resale value of the building would be
$7,500,000 greater if located in Burr Ridge. Also, annual income tax credits would be $300,000 greater per year in
Illinois. Consequently, there is a minimum $7,000,000 locational disadvantage having the project located in Dubuque.
Section A - Applicant & Project Information
22
19. What amount of state assistance is requested based on the above-identified need?
$900,000 forgivable loan
$100,0000% repayable loan
$2,500,000 investment tax credit
$600,000 sales tax refund
What typelform of assistance is preferred (e.g. loans, forgivable loans, tax incentives, etc.)?
Forgivable loans and tax incentives.
20. Please indicate what program(s) the Business is applying to and download and submit those applicable sections:
I:8J
I:8J
D
D
D
D
CEBA
EZ
HQJC
EVA
VAAPFAP
EDSA
(Complete Section B)
(Complete Section C)
(Complete Section D)
(Complete Section E)
(Complete Section F)
(Complete Section G)
The Department reserves the right to review this application and determine, based on the proposed project and available
program funds, which financial assistance program(s) is best suited for the Business' project. The actual program{s} utilized
may val}' from the programs indicated above.
Section A - Applicant & Project Information
23
21. Return on Investment Information - Business Taxes
IDEO is required to calculate the retum on state and local government investments in this project. Data from other parts of the
application will be combined with the estimates requested below to calculate the required return on investment information.
Instructions for Question 21
IDEO is asking for a best estimate on the increase in taxes associated with this project.
Estimates should only include the expected increase in tax liability resulting from this project.
At minimum, IDEO needs estimates for the first three years of the project.
Show data as if no tax abatements or tax credits awarded for this proiect were taken.
For partnership forms of ownership (e.g. limited partnerships, s-corporations, LLC, etc.), please estimate the
partners' increase in Iowa tax liability due to this project.
Sales and use taxes refer to the taxes paid on materials, etc. that the Business purchases, not taxes you
collect from sales to your customers.
Applicants will not be held to these numbers with respect to any award from or contract with IDEO.
This page of the application will automatically be treated as confidential.
Increase in Tax Collections Associated with this Project
State Business Taxes Year 1 Year 2 Year 3 Year 4 Year 5
State Corporate Income Tax' $15,000 $20,000 $25,000 $30,000 $35,000
State Business Sales and Use Tax $ $ $ $ $
'Insurance Companies: Provide State Insurance Premium Tax
Local Business Taxes
Local Real Estate Properly Tax
Local Option Sales Tax
Year 1
$470,000
$1,610,0001$460,000
Year 2
$480,000
$
Year 3
$500,000
$
Year 4
$510,000
$
Year 5
$520,000
$
Section A - Applicant & Project Information
24
Attachments
Please attach the following documents:
A 1 Business Plan
At a minimum, include:
. marketing study,
. feasibility study,
. projected profit and loss statements for three years into the future,
. project budget,
. production operations,
. management structure,
. personnel needs,
. descriptions of product or process,
. status of product/process development, and
. patent status (if applicable).
(Any infomnation outlined above not included in the business plan should be submitted as supplemental infomnation via
a separate attachment.)
A2 Copies of the Business' Quarterly Iowa Employer's Contribution and Payroll Report Summary Page (Page 1) for the
past year and a copy of the most recent payroll report for one pay period.
A3 Affidavit that states the Business has not, within the last five years, violated state or federal statutes, rules, and
regulations, including environmental and worker safety regulations, or, if such violations have occurred, that there were
mitigating circumstances or such violations did not seriousiy affect publiC health or safety or the environment.
A4 Financiallnfomnation (Existing Businesses Only)
. Profit and loss statements and balance sheets for past three year-ends;
. Current YTD profit and loss statement and balance sheet;
. Scheduie of aged accounts receivable;
. Schedule of aged accounts payable; and
. Schedule of other debts.
Application Checklist
Section A - Applicant & Project tnformation
25
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Section B - CEBA
1. Which program component is the Business applying for?
o Small Business Gap Financing
I:;;<'J New Business Opportunity
o New Product Development
o Modernization Component
2. Funding Information:
Total Amount Requested:
Loan Amount:
Forgivable Loan Amount:
$ 500,000 CEBA and $500,000 PIAP
$ 100,000 CEBA
$ 400,000 CEBA and $500,000 PIAP
See Chapter 53, Secfion 261 in the CEBA Administrative Rules for maximum funding amounts. The CEBA program is not
designed to provide 100% funding for any project and limits assistance based on the type of projecf submitted.
3. Security:
o
o
o
o Personal Guarantee 0 Other:
All awards secured by Personal Guarantees will require a current nnancial statement from each of the personal guarantors, which
musf be attached fo the application.
I:;;<'J
o
o
Corporate Guaranty
UCC Financing Statement
Irrevocable Letter of Credit
Surety Bonds
Mortgage on Real Estate
Escrow Account
4. Does the business certify that at least 10% of the positions to be created will be made available to qualified Promise Job
Participants? I:;;<'J Ves 0 No
5. Are underground tanks (whether or not in current use) for the storage of petroleum products, agricultural or other chemicals, waste
oil or other liquid waste or any other infiammable, corrosive, reactive or explosive liquid or gas located on the project site?
o Ves
I:;;<'J No
If yes, please explain:
Will the Business be storing above-ground, on or about the project site, in tanks or otherwise, any liquid or gas (as described
above) or any inflammable, corrosive, reactive or explosive solid, for any length of time or any purpose?
o Ves
I:;;<'J No
If yes, please specify:
Will the Business be treating, transporting or disposing of any liquid, gas, or solid (described above) either on or about the project
site or at a landfill or other treatment facility or upon any public street or highway, or on any waterway or body of water, or in any
aircraft?
o Ves
I:;;<'J No
If yes, please specify the substance and what the Business will be doing with it.
6. Does the Business generate solid or hazardous waste? 0 Ves I:;;<'J No
If yes, please describe and provide a copy of the Business' solid and hazardous waste reduction plans.
Section B - CEBA
2/4/2005
Attachments
Please attach the following documents:
83 Community resolution authorizing the submission of the application
Section B - CEBA
2/4/2005
2