Industry Report Shows Plans for Innovation, Optimism for Growth in DSM Companies
GREATER DES MOINES, IA (June 18, 2021) –?The Greater Des Moines Partnership has released results from its 2020 Regional Existing Industry Report. The report is a compilation of data gathered from 180 company visits in 24 communities in the Greater Des Moines (DSM) region, using the Synchronist Existing Industry Survey to capture data. Interviews were conducted from July – October 2020. Industries represented included advanced manufacturing, insurance/financial services, technology/professional/technical services, warehouse/transportation/trade, construction/mining and others.
Key findings include:
DSM companies are still innovating and planning to grow despite impacts from COVID-19.
· DSM companies were able to successfully pivot and transition to remote work or implement onsite safety measures to continue operating productively at or near full capacity.
- Economic uncertainty and finding employees are the two biggest barriers to recovery from COVID-19 faced by DSM companies.
Regarding the impacts of COVID-19, the survey found that:
- 89% of respondents were open and operating during normal business hours.
- 79% were not experiencing financial stress.
- 63% were either experiencing demand above previous levels, had already returned to previous levels of demand, or had not experienced a decrease in demand.
Additionally, 96% of those surveyed had introduced new products, services or capabilities over the last three years, and 86% expected to add new products, services or capabilities over the next two years.
“This survey shows that DSM companies were able to respond quickly and set themselves up to emerge strong from the COVID-19 pandemic,” said Brian Crowe, Executive Vice President of Economic Development for the Greater Des Moines Partnership. “The Partnership will continue to work with businesses to identify opportunities for expansion and gather feedback on how we can ensure a business environment that cultivates growth.”
View the full results here.
About the Greater Des Moines Partnership
The Greater Des Moines Partnership is the economic and community development organization that serves Greater Des Moines (DSM), Iowa. Together with 24 Affiliate Chambers of Commerce, more than 6,500 Regional Business Members and more than 365 Investors, The Partnership drives economic growth with one voice, one mission and as one region. Through innovation, strategic planning and global collaboration, The Partnership grows opportunity, helps create jobs and promotes DSM as the best place to build a business, a career and a future. Learn more at DSMpartnership.com.