Can Cedar Rapids weather a wave of mergers and acquisitions? Almoayed thinks so
But another major deal could have a large upside for
Last month it was announced some 800
"TCS is enormous," Almoayed said noting the company is larger than UTC. "They have 371,000 people. They just don't have a huge
"This is a massive company that because of the
The
Here's a few of the deals underway, in addition to TCS-Transamerica and Rockwell-UTC:
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- Cargill announced plans to acquire animal nutrition company Diamond V.
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The wave of proposed mergers and acquisitions has caused concern for some, and questions for Almoayed and others in
She called each of the deals a "net positive," noting there isn't much duplication in units being merged, so it could lead to good things for
"I get people are freaked out," Almoayed said, referring specifically to the Rockwell-UTC deal. "But it's not such a doomsday thing. Kelly (Ortberg, the
"People say, Jump on a plane and go to UTC. Why? They aren't requesting anything. We should be talking to the CEO here, and that is what we are doing."
'Getting them to come here'
Almoayed, 34, a
While Almoayed is from the area, her family has an interesting back story for landing in
Almoayed is of Bosnian decent, formerly Yugoslavian. Her grandfather
Her father
Leaving everything behind and speaking no English, he relocated to
Almoayed's last name comes from her husband, Andrew, who is of Bahraini heritage.
Almoayed took a position with the city in 2013 as it began creating an internal economic development division to draw attention to
"We focus on putting our best foot forward and getting them to come here," she said.
With existing companies, Almoayed tries to keep tabs on whether a business foresees growth or change, and if so, tries to lay out all the options available to them in
She also works to connect company officials with the right people in
"A developer or CEO of a company is not there to know this stuff," she said. "That is what we are here for."
In the case of downsizing, Almoayed can help connect a company to resources for its workers.
Another part of her job is to be a resource for those considering the area, including targeted retail recruitment.
This past Wednesday, Almoayed met with representatives from
Almoayed worked with
The fund has distributed 10 loans with most reaching the
"When she saw how the pieces could fit, she takes an idea and can run with it," Garner said. "She is insightful and intuitive. When she sees an opportunity she's eager to pursue it, and able to pursue a lot at the same time."
Knowing where to go
Almoayed had also been part of a project to determine market sector strengths, such as logistics and transportation, and another team that created a website presenting the economic development tools available in
The website was the entry point for
Almoayed and her colleague
"It helps developers like us when looking for new markets," he said. "It helps us know where to go."
When Shiu contacted Almoayed, she said he questioned the incentive.
"He said, 'Is this right?,' which is funny because they are from
While the nature of Almoayed's day-to-day interactions with prospective businesses and officials from existing companies can be confidential, she offered a few hints of things to come.
First, developers are eyeing a hotel for the
Second, areas along
Third, developers have been lining up with questions about available land in NewBo, particularly parking lot 44, which is on the east bank of the river between Eighth and 12th Avenues SE. Unfortunately, she said, the future of the parking lot remains on hold as the city develops a flood-control system.
"I have a whole list of people waiting in the wings," she said. "If and when property comes available we have some ideas for sizable projects. I am not worried about prospects falling off the radar because of time."
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