Albia Industrial Development Corporation

The Albia Industrial Development Corporation (AIDC) is a nonprofit organization focused on promoting economic development in Monroe County, Iowa. Established in 1956, it aims to enhance employment opportunities and retain businesses in the area.

Purpose and Mission

AIDC was founded with the goal of improving the local economy by attracting new industries and supporting existing ones. It has played a critical role in helping Monroe County recover from economic downturns, such as the significant loss of manufacturing jobs in the early 1980s.

Achievements

Since its inception, AIDC has been instrumental in facilitating substantial economic growth in the region. As of recent reports, it has assisted in the location of 23 new plants and 44 major expansions, contributing to investments exceeding $1.5 billion and creating over 1,500 new job opportunities.

Structure and Operations

AIDC operates as a tax-exempt corporation under Section 501(c)(3) of the Internal Revenue Code, making donations to the organization tax-deductible. It is classified as a community improvement and economic development organization. The organization's financial structure is primarily supported by contributions, which constitute the majority of its revenue. Executive compensation forms a significant portion of its expenses.

Community Engagement

AIDC works closely with local and regional entities to foster a favorable business environment. It collaborates with organizations focused on community development, aligning with broader regional economic initiatives.

Notable Projects and Collaborations

Recent notable developments include significant expansions by major companies such as Cargill, which have bolstered the local economy. AIDC continues to position itself as a reliable partner for industrial prospects, leveraging its reputation for honesty and diligence to attract further investment.

[1] https://albiaindustrial.com [2] https://projects.propublica.org/nonprofits/organizations/420927912 [3] https://www.albiachambermainstreet.org/about/ [4] https://albiachambermainstreet.org/directory/albia_industrial/ [5] https://www.causeiq.com/organizations/albia-industrial-development-corporation,420927912/