DES MOINES, Iowa (AP) — Moving to give the private sector a greater say in Iowa's economic development strategy, Gov. Terry Branstad on Monday announced the business leaders he has appointed to a new panel that will oversee efforts to attract new employers and expand existing businesses.
During his campaign for governor last year, Branstad promised to create 200,000 new jobs and increase household income by 25 percent. In announcing the members of the Iowa Partnership for Economic Progress, the Republican governor said the move was a vital part of his effort to expand the economy.
"This is a new day for economic development in Iowa," said Branstad. "I think it shows we are bringing together the best of the private sector."
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Branstad spokesman Tim Albrecht said the board's primary task will be identifying job opportunities and policy changes that are needed to create those jobs.
Branstad also named the members of the Iowa Innovation Corporation board, which will head a nonprofit corporation funded by businesses and the federal government that will seek to develop new technologies.
The new effort came after Branstad convinced legislators last session to scrap the state's Department of Economic Development, replacing it with the Partnership for Economic Progress.
By giving business leaders more influence over economic development, Branstad argued the state's efforts would be more effective.
"It's the private sector that's going to create those jobs," said Branstad. "We need to make sure that state government is not in the way."
Among those named to the panel is Larry Zimpleman, chief executive of the Des Moines-based Principal Financial Group.
Zimpleman said economic development efforts must extend beyond the U.S. borders.
"We are seeing the growth of financial services around the world," he said. "We are seeing an exploding middle-income class around the world."
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