The Business Record’s Economic Forecast luncheon on Jan. 25 brought together hundreds of business community leaders and executives for a panel discussion about predictions for the year’s economy. Featured were Iowa Economic Development Authority Director Debi Durham, West Bank’s Dave Nelson, Wells Fargo’s Cameron Hinds, Iowa Workforce Development Director Beth Townsend and state legislative analyst Jeff Robinson.

Here are a couple of insights from participants and panelists at the event. 

Nelson: Companies can now spend pent-up cash
West Bank’s Dave Nelson said he believes now that the federal corporate tax cut has been enacted, companies have the certainty they’ve needed to get off the sidelines and spend or invest some of the mounds of cash they’ve been sitting on for the past couple of years. “I would say for the most part, (additional capital spending) hasn’t started to happen yet,” he said. “But Apple just announced a huge investment to create a second campus in America. I think (more investments) are something we have to look forward to and benefit from.” 
– Joe Gardyasz

Economy generating ‘pleasant surprises’ in Des Moines
Development projects are arriving fast and furious in the city of Des Moines. “We have been pleasantly surprised at the influx of activity we have seen so far at the Urban Design Review Board,” said Ryan Moffatt, economic development project manager with the city’s economic development department. Among other things, the board reviews projects that are seeking development incentives from the city. While interest in multifamily projects has slowed as developers wait for downtown vacancies to be absorbed, inquiries about other commercial projects are strong, he said. The board is booked with projects to review through March and is scheduling additional meetings to keep pace.
– Kent Darr

See a video of panelists discussing whether the Iowa economy will improve or regress in 2018. Watch the video.