Report details economic performance of ICAD's region

A new report released by Iowa City Area Development statistically documents the economic growth and stability of the group's service region over the past nine years on 18 different measures.

Major findings included a 22.6 percent increase in commercial taxable valuation from 2007 to 2011, to $2.4 billion, and a 22 percent increase in the residential taxable valuation over the same period to $7.6 billion.

Deposits in the 31 banks and credit unions in the territory increased 74 percent, or $1.5 billion, in the past five years, and public school enrollment increased by 5.8 percent, or 1,030 students, since 2007.

The group plans to use the report, prepared with the University of Northern Iowa Institute for Decision Making, as a benchmark for future reports to gauge the effect of economic development activity. It will be presented to elected leaders in area communities and companies and services mentioned in the report.

The area covered by the report includes Johnson County, Kalona, Tipton, West Branch and West Liberty.