House Journal: Page 42: Tuesday, January 15, 2002
Despite the progress that we have made in adding thousands of new jobs to the
workforce and increasing the wages of jobs created through state assistance, we must
do more.
Let me introduce you to two young people who represent Iowa’s future. I first met
Clint Holtz from Walnut on my walk across the state last year. Clint is an
entrepreneur. He owns and operates "Clint’s Crawlers"-a night crawler business. He’s
owned his business since 1995, and it has expanded every year.
And Megan Wettach is from my hometown. She is a senior at Mount Pleasant High
School. In addition to taking college courses at Iowa Wesleyan College, writing for the
Burlington Hawkeye, and fulfilling her duties as Miss Teen Iowa, Megan owns Premier
Prom & Pageantry, a formal dress shop that offers a wide array of prom dresses and
other formal wear. Clint and Megan, will you please stand?
We must recognize that we are in competition with other states for the talents of
Clint and Megan, and all the other Iowans of their generation. In order to make sure
entrepreneurs like them are part of Iowa’s future, we must be as aggressive as they
are, starting with the moment they graduate from college by offering a tax credit
against their income that will help offset all or part of their college tuition. A tax credit
sends a strong message of our interest in retaining these bright young people. It will
help to build a more promising future for Iowa by investing in those who commit their
futures to our state.
We must work to ensure the kinds of jobs that will keep college graduates in Iowa -
or provide those graduates with the means to create their own jobs and businesses
right here at home.
Today, businesses and entrepreneurs in Iowa struggle to find start-up funds.
In our universities and in our businesses and industries, Iowans are on the cutting
edge in new development in the life sciences, advanced manufacturing, and
information solutions. Iowa State University and the University of Iowa have not only
established research parks and programs to promote partnering with private sector
businesses, but their faculty members are also among the nation’s leaders in receiving
new patents for their innovative work.
But the availability of capital to aid new business ventures in Iowa is far too
limited. Too often, investors overlook our state’s promising ideas and entrepreneurs.
We must encourage greater private sector investment in Iowa.
There must be real business opportunity for those who want to live the American
dream of owning their own business. Despite being second in the nation in business
retention, and having the fifth lowest cost of doing business among states, more needs
to be done.
Iowa ranks at the bottom of states for venture capital. During this legislative
session, let us take Iowa to a leadership position in venture capital by creating a set of
incentives that helps fuel national Venture Capital investment in Iowa, that
encourages Iowa’s angel investors to make substantial investments in Iowa startups,
and that enables those who can invest only a small amount to do so for a brighter Iowa
future. These funds will help to create the next biotech business, converting our corn
© 2002 Cornell College and
League of Women Voters of Iowa
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Last update: Wed Jan 16 13:30:00 CST 2002
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