THE NEWTON PROMISE An Economic Development Vision and Strategy for Newton

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THE NEWTON PROMISEAn Economic Development
Vision and Strategy for Newton

• Community Forum
• February 23, 2006

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The Newton Promise
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The Newton Promise
Each student graduating from the Newton High
School will receive up to a 100 scholarship for
tuition for 4 years to any public state of Iowa
University, Community College, or an equivalent
amount to use at a 4 year private college in Iowa.
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The Newton Promise

• Now More Than Ever
• Community in transition
• Risk of population decline
• Need immediate retention and growth strategy

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The Economic Development Impact of the Newton
Promise

• Immediate impactRESIDENTS STAY IN NEWTON
• New residents move to NewtonMORE HOUSING STARTS
• High quality workforce for existing and new
  businessesMORE JOBS
• Expanded tax basePROPERTY TAX RELIEF
• Expanded tax baseMORE QUALITY OF LIFE AMENITIES

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The Economic Development Impact of the Newton
Promise
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The Economic Development Impact of the Newton
Promise

• Newton Schools Poised for Growth
• Over 20M Invested in building and structures
  within last 5 years
• All elementary, middle school, and high school
  buildings upgraded
• Capacity for additional 600 students

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The Economic Development Impact of the Newton
Promise
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The Economic Development Impact of the Newton
Promise

• More houses results in expanded tax base
• More people to share costs of providing basic
  services
• Population growth Property Tax Relief

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The Economic Development Impact of the Newton
Promise

• Reality of Retail Industry
• Retail industry dominated by big box retailers
• Site locations determined by corporate offices
• Count housetops
• Population growth More Retail Stores

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The Economic Development Impact of the Newton
Promise

• War for talent
• Businesses succeed with talent
• Quality, educated, and skilled workforce
• Retains existing businesses
• Attracts new businesses
• Population growth More Jobs

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Newton Promise Proposal

• Qualifications
• Graduate from Newton High School
• Reside in Newton School District
• Admitted to state of Iowa university, community
  college, or Iowa private college

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Newton Promise Proposal

• Terms
• Maintain 2.0 GPA
• Carry 12 hours of courses each semester
• 4 years

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Newton Promise Proposal

• Benefit

K-12 ...100 Years 1, 2 or 3 -12
....95 4-12 ..90 5-12 ..85 6-12
..80 7-12 ..75 8-12
..70 9-12 ..65 10-12.....None
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Newton Promise Proposal

• Historical College-Going Rates for Newton
  Graduates

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Newton Promise Proposal

• Preliminary Estimates of Tuition Scholarships
• 154-165 students
• 30 to Iowa university
• 20 to Iowa community college
• 15 to Iowa private college

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Newton Promise Proposal

• Preliminary Cost Estimates
• 8,500 tuition for state of Iowa university
• 2,500 tuition for community college
• 8 inflation rate

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Newton Promise Proposal

• Preliminary Cost Estimates
• Year 1 793,087
• Year 2 1,443,871
• Year 3 2,094,155
• Year 4 2,839,243
• Dr. John Parker of Iowa Student Loan Corporation
  assisting in calculating costs and feasibility.

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Newton Promise Proposal

• Funding
• Combination of private and public funds
• Private Donations
• Businesses Corporations
• Foundations
• Individuals
• Local Option Sales Tax
• To be voted on March 28th
• School Infrastructure Sales Tax (SILO)
• Renewal of tax required

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Newton Promise Proposal

• Newton Tradition of Private/Public Partnerships
• HERE! Center for Performance
• Monarch Wing at Skiff Medical Center
• Newton Municipal Airport
• Aces Teen Center
• Maytag Pool
• Newton Soccer Complex
• Newton Library

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Newton Promise Proposal

• Program Length
• Goal is for the program to continue in perpetuity
  
• Reality will depend on coming together of private
  and public resources

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The Excitement and Support is Building

• The Newton promise is a huge step in true
  community action, to nurture the youth while
  ensuring the stability of the community.
• Ted Johnson, President, UAW
• personal comment

" The Newton Board of REALTORS back this concept
100 we hope this dream comes true. What a
great tool for population growth retention."
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The Excitement and Support is Building
In Kiwanis International, our goal is to change
the world one child and one community at a time.
  After children's basic needs for survival are
met, education becomes the top priority in
ensuring a better quality of life and helping
each student reach his or her full potential. 
The Newton Promise is a great fit with the goals
of Kiwanis. Rita Baker, Lieutenant Governor of
Nebraska-Iowa Division, Kiwanis International
The Pastors of the Newton Ministerial
Association are in full support of the Newton
Promise. We believe it will build community
spirit, bring new people to town and to our
churches, along with making a public commitment
to the education of ALL children.  Rev. Tiare
L. Mathison-Bowie, Secretary Newton Ministerial
Association
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The Excitement and Support is Building

• Newton Rotary as a part of Rotary International
  of over 1.2 million members found in 168
  countries strongly supports and encourages the
  Newton Community to pursue the opportunities of
  ' Newton Promise '. In our 100 years of existence
  in the world community, Rotary International
  continues to focus on numerous humanitarian
  efforts such as polio eradication, water
  management, hunger, health, and helping make a
  difference in quality of life. As an
  organization that promotes peace and better
  understanding among people we recognize the
  importance of improving literacy and education in
  the world community and it starts here at home.
• Bruce Curtis, President
• Newton Rotary

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The Excitement and Support is Building
This is a great idea and would certainly benefit
many of our students that have the talents and
abilities to succeed in college, but may not have
the financial backing to reach their educational
potential or ultimately, their potential in life
beyond school. Bill Perrenoud, President
Newton Educational Association
We need to be the first in Iowa to offer The
Promise for our future. Believe me, other
communities will jump on this opportunity. Jo
Jenkins, CRBPresident, Iowa Association of
Realtors
The Newton Promise is such a positive
initiative. I have no doubt that it will result
in great things for our community. Geri Doyle,
Chair Newton
Chamber of Commerce
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The Excitement and Support is Building
"Three of my grandchildren qualify for 100
college tuition scholarships in the "Kalamazoo
(Michigan) Promise".  My daughter thought she had
won the lottery when the program was announced." 
I thought, "Why can't Newton do this too! Walt
Smith, CEO Thombert and ITWC
The Newton Promise unites all of us in that most
important goal, educating our children.  Smart
employers, including the Whirlpool transition
team, will see the value in a community that is
such a "special place".  Bev Price,
Chair Newton Development Corporation
The Jasper Community Foundation is supportive of
the Newton Promise concept and excited about the
impact it will have on our community. Dan
Skokan, Chair Jasper Community Foundation
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The Excitement and Support is Building
Newton Housing Development Corporation
Newton Community Educational Foundation Excellence
Beyond The Basics
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BOTTOM LINE
WITH THE NEWTON PROMISE, WE GROW AS A COMMUNITY
WHICH RESULTS IN MORE HOUSING MORE RETAIL MORE
BUSINESSES MORE JOBS PROPERTY TAX RELIEF
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We are asking for your support to ensure Newtons
future by making the Newton Promise a reality!
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Question and Answers
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Closing Remarks
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THE NEWTON PROMISEAn Economic Development
Vision and Strategy for Newton

• Community Forum
• February 23, 2006