Transcript Slide 1

Downtown Davenport Jobs (DDJ)
The City of Davenport, Iowa
Where is Davenport, Iowa?
QUICK FACTS
 Population of 100,000+ on the
shore of the Mississippi River
 Largest city within the Quad
Cities, a metro region of almost
400,000 people
 Major industries include:
 Advanced Manufacturing
 Banking and Finance
 Warehouse/Distribution
Downtown Davenport, Iowa
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Major Employers:
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City, County, and Community College
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State and Federal Courts
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Lee Enterprises
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MidAmerican Energy
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Vital banking, financial and insurance district for the
entire region
Housing:
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Urban neighborhood with a diverse and growing
population of students, families, and empty nest
retirees
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Millions of dollars in new downtown housing
investment in the last 5-10 years, both for market-rate
and subsidized units
Amenities, Attractions and Events:
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Figge Art Museum
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Rhythm City Casino
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Quad City River Bandits at Modern Woodman
Stadium
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Bix Beiderbecke Music Festival and Road Race
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Centennial Park and the iconic Skybridge
DDJ - The Genesis and Program Details
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Why the Program Was Created
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The City of Davenport sought to create an
extraordinary incentive in order to encourage
business creation and expansion in our
downtown.
Program Details
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Businesses creating jobs in the DDJ can opt for
either:
 A $3,000 per job created 0% interest loan
for 60 months
OR
 A $1,000 per job cash grant (set up in the
City’s system as a forgivable loan pending
the actual job creation)
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All businesses have two years to create the jobs
pledged and then must maintain them for three
additional years.
DDJ - The Results
Since November of 2010:
 8 total businesses have been assisted
(5 created and 3 expanded)
 102 jobs have been created or will be
created before December 2013
 $283,000 in City CDBG investment has
been part of a total new investment of
almost $550,000 within downtown
Davenport by the 8 businesses assisted
 Of that amount, only $20,000 has been
given as grants. The remaining
$263,000 was loaned providing CDBG
program income.
DDJ - The Future?
City of Davenport Staffers Intend To…
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Continue to monitor outstanding DDJ projects for
compliance
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More aggressively market the program both inside
and outside of downtown Davenport.
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Explore an application to HUD to designation of
the residential neighborhoods in and around
downtown as a Neighborhood Revitalization
Strategy Area (NRSA)
AND
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Go out to eat for lunch and dinner whenever we
can (After all, 5 of the DDJ projects were unique new
restaurants in the core of our City…and a few blocks
from City Hall).
Spa Luce (DDJ-01) Ribbon Cutting
Spring 2011
City of Davenport, Iowa
Please contact Bruce Berger at (563) 328-6706 or [email protected]
for additional information.