Click to download FY 2023-2024 InfoAction Dashboard Annual Summary
Throughout the year, our Business Services team conducts more than 250 one-on-one interviews with regional employers through our InfoAction program. These interviews offer the opportunity for area business owners, CEOs, and top managers to share their valuable insights with Greater Dubuque Development staff to help us gain a deeper understanding of the regional economy and collect data which guides our work. Throughout the year, our Workforce Solutions team also conducts interviews with human resources professionals. These confidential interviews focus specifically on workforce—from recruitment efforts, to retention programs, to quality of workforce, and training initiatives.
As part of our commitment to provide tangible data to our partners, the wrap-up of our fiscal year includes providing an annual summary of key findings from these interviews conducting throughout the past 12-months for download.
Top Takeaways for FY 2023-2024 Related to Greater Dubuque Development's Areas of Focus Include:
WORKFORCE SOLUTIONS
- Talent attraction initiatives were cited by 43% of businesses interviewed as one of the top 5 community priorities.
- Workforce continues to be identified as both the #1 barrier to growth for companies and #1 weakness of doing business in this market.
- While improving slightly from last year, scores remain low for Availability of labor on the Workforce Index, scoring 3.56 versus 3.19 last year (1 poor / 7 excellent).
- Although slightly better than last year (79%), the vast majority (75%) of companies still cited workforce recruitment challenges with specific positions or skills.
- Despite such challenges, 54% anticipate adding net new jobs in the coming year (up from 49% last year).
- Workforce Upskilling Initiatives was cited by 29% of businesses interviewed as one of the top 10 community priorities.
STRATEGIC INITIATIVES
- Businesses again cited the top community strengths as quality of life and amenities; our location / business ecosystem, and community partnerships / leadership.
- The score for child care on the Public Services Index ranks 4th lowest with a score of 4.31 (1 poor / 7 excellent).
- While lots of progress has been made in the past year on child care, it was cited by 39% of businesses as one of the top community priorities going forward.
- Housing was cited by 53% of businesses as one of the top 5 priorities for the community, ranking #1 on the list.
- While many new housing developments have either started or are under consideration, the score for housing on the Public Services Index ranks 3rd lowest with a score of 3.84 (1 poor / 7 excellent).
BUSINESS SERVICES
- While down from last year’s number (66%), a majority of businesses (56%) noted increasing sales levels with 31% citing stable levels and 13% noted decreasing sales.
- However, 55% of companies noted increasing market share, which is up from last year’s number of 47 percent.
- A solid majority of businesses have customer bases outside of this market. Forty-five (45) percent cited a regional customer base, and 31% noted a national customer base. Twenty percent described their customer base as local, and 4% indicated an international market for their respective products / services.
- Consistent with last year’s number, fifty-two (52) percent of businesses have some plans to expand and invest in new space, new machinery and equipment, or technology and modernization.
- Air service remains a community challenge and concern. It was cited by 40% of businesses as one of the top 5 priorities for the community.
- Air service registers the lowest score on the Public Services Index with a score of 2.43 (1 poor / 7 excellent). Air service also was cited in both the top 3 barriers to growth and top 3 weaknesses of doing business in this region.
To learn more about our InfoAction program, contact Daniel McDonald, Director of Existing Business at danielm@greaterdubuque.org or 563-557-9049.
