TechWorks: Synergistic Economic Development,
John Deere Tractor Museum,
and Renewable Energy Campus

TechWorks is a regional economic development inititative transforming a large vacant manufacturing area into a business campus and visitor destination.  The project consists of several components including:

• The future John Deere Tractor & Engine Museum, destined to be a regional and even global visitor destination.
• The “Green” project which will house facilities for complementary visitor services, corporate training facilities, and a renewable energy showcase.
• The renovation of the “Tech 1” building for research and small, innovative manufacturing space, as well as redevelopment on several vacant site on the property.
• A innovative, farm and factory-scale, renewable energy project that will become an energy showcase and provide heat and power to the entire TechWorks campus.

On their own, each of these components has the potential to create jobs and contribute to the local economy.  However, the real economic power of TechWorks comes from the combination of all these components into a single campus in downtown Waterloo.  Together, the collective impacts include:

• Jobs – The TechWorks project will create short term jobs building and installing renewable energy systems at the facilities, as well as long term jobs within the components of the campus.  Further, the economic activity produced by the project will create additional indirect jobs in the community.
• Taxbase – TechWorks will result in a massive investment of private dollars into properties that are currently underutilized. 
• Workforce Recruitment/Retention and Community Image – In today’s global economy, companies must offer a high quality of life and amenties that bring top talent to consider living and working in the community.  By creating a unique, innovative project that also helps drive the vitality of the entire downtown, TechWorks will dramatically enhance the image of Waterloo.  
• Visitor Spending – Initial estimates suggest that the John Deere Museum will attract 250,000 annual visitors to Waterloo.  The inclusion of complementary visitor services on campus, conference accommodations, a globally significant energy and technology showcase, and new businesses, will result in even more visitors.