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New economic development agency aims to avoid pitfalls

"The intention right now is for the Economic Development Corp. to create a for-profit arm that will set up a $100 million seed capital fund for early stage start-up businesses."

A new public-private partnership that could take the reins of Iowa’s economic development efforts as early as next month is expected to avoid the snags that have beset similar agencies in other states.

That’s the plan, at least. Similar bodies in other states have met with charges of misuse of funds and excessive executive bonuses.

George C. Ford/SourceMedia Group News

Full Story: http://business380.com/2011/08/28/new-economic-development-agency-aims-to-avoid-pitfalls/

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