Native Grassland Conversion: the Roles of Risk Intervention and Switching Costs

We develop a real option model of the irreversible native grassland conversion decision. Upon plowing, native grassland can be followed by either a permanent cropping system or a system in which land is put under cropping (respectively, grazing) whenever crop prices are high (respectively, low). Switching costs are incurred upon alternating between cropping and grazing. The effects of risk intervention in the form of crop insurance subsidies are studied, as are the effects of cropping innovations that reduce switching costs. We calibrate the model by using cropping return data for South Central North Dakota from 1989 to 2012. Simulations show that a risk intervention that offsets 20% of a cropping return shortfall increases the sod-busting cost threshold, below which native sod will be busted, by 41% (or $43.7/acre). Omitting cropping return risk across time underestimates this sod-busting cost threshold by 23% (or $24.35/acre), and hence underestimates the native sod conversion caused by crop production.

Audit report on the Cedar County Economic Development Commission for the year ended June 30, 2012

Audit report on the Cedar County Economic Development Commission for the year ended June 30, 2012

Report on the Iowa Economic Development Authority for the year ended June 30, 2012

Report on the Iowa Economic Development Authority for the year ended June 30, 2012

Iowa Power Fund Summary of Economic Impact Study,

A newly completed study commissioned by the Iowa Office of Energy Independence shows increased jobs, tax revenue and economic activity as a result of Iowa Power Fund projects. The analysis is divided into two parts. Part I assesses the specific impacts of projects that have been funded directly. Part II offers an analysis of the long term impacts when projects are successfully replicated.

Iowa Department of Economic Development Performance Plan, FY2014

Agency Performance Plan, Iowa Department of Economic Development

The Economics of Reducing the County Road System: Three Case Studies in Iowa, HR-242, 1986

This research project looked at the economic benefits and costs associated with alternative strategies for abandoning low volume rural highways and bridges. Three test counties in Iowa were studied, each 100 square miles in size: Hamilton County having a high agricultural tax base and a high percentage of paved roads and few bridges; Shelby County having a relatively low agricultural tax base, hilly terrain and a low percentage of paved road and many bridges; and Linn County having a high agricultural tax base, a high percentage of paved roads and a large number of non-farm households. A questionnaire survey was undertaken to develop estimates of farm and household travel patterns. Benefits and costs associated with the abandonment of various segments of rural highway and bridge mileages in each county were calculated. "Benefits" calculated were reduced future reconstruction and maintenance costs, whereas "costs" were the added cost of travel resulting from the reduced mileage. Some of the findings suggest limited cost savings from abandonment of county roads with no property access in areas with large non-farm rural population; relatively high cost savings from the abandonment of roads with no property access in areas with small rural population; and the largest savings from the conversion of public dead-end gravel roads with property or residence accesses to private drives.

Iowa Office of Energy Independence Iowa Power Fund Summary of Economic Impact Study, December 16, 2010

A newly completed study commissioned by the Iowa Office of Energy Independence shows increased jobs, tax revenue and economic activity as a result of Iowa Power Fund projects. The analysis is divided into two parts. Part I assesses the specific impacts of projects that have been funded directly. Part II offers an analysis of the long term impacts when projects are successfully replicated.

Audit report on the Cedar County Economic Development Commission for the year ended June 30, 2013

Audit report on the Cedar County Economic Development Commission for the year ended June 30, 2013

Privatization of Retail Liquor Sales in Iowa, July 16, 1999

In January 1987, when it became apparent that the Legislature did not intend to further debate the merits of retail liquor store privatization, the Iowa Alcoholic Beverages Division had only from mid-January to March 1st, to plan for the conversion fro state liquor stores to private licensed liquor retailers. A longer lead time would have effected a much smoother transition, with fewer errors. It also would have been more successful had the Alcoholic Beverages Division been able to provide input in the writing of the legislation. Many problems could have been avoided. However, any statements made by the Alcoholic Beverages Division were treated only as being self-serving and were largely ignored. Overall, privatization was a good idea and has been a financial success as well.

Development of an Economic Dust Palliative for Limestone Surfaced Secondary Roads, HR-297, 1990

This research project was directed at laboratory and field evaluation of sodium montmorillonite clay (bentonite) as a dust palliative for limestone surfaced secondary roads. It had been postulated that the electrically charged surfaces of the clay particles could interact with the charged surfaces of the limestone and act as a bonding agent to agglomerate fine (-#200) particulates and also to band the fine particulates to larger (+#200) limestone particles. Laboratory testing using soda ash dispersed bentonite treatment of limestone fines indicated significant improvement of compressive strength and slaking characteristics. It was recommended that the project proceed to field trials and test roads were constructed in Dallas and Adair counties in Iowa. Soda ash dispersed bentonite solutions can be field mixed and applied with conventional spray distribution equipment. A maximum of 1.5% bentonite(by weight of aggregate)can be applied at one time. Higher applications would have to be staged allowing the excess moisture to evaporate between applications. Construction of higher application treatments can be accomplished by adding dry bentonite to the surfacing material and then by dry road mixing. The soda ash water solution can then be spray applied and the treated surfacing material wet mixed by motor graders to a consistency of 3 to 4 inch slump concrete. Two motor graders working in tandem can provide rapid mixing for both methods of construction. Calcium and magnesium chloride treatments are 2 to 3 times more effective in dust reduction in the short term (3-4 months) but are prone to washboarding and potholing due to maintenance restrictions. Bentonite treatment at the 2-3% level is estimated to provide a 30-40% dust reduction over the long term(18-24 months). Normal maintenance blading operations can be used on bentonite treated areas. Vehicle braking characteristics are not adversely affected up to the 3.0% treatment level. The bentonite appears to be functioning as a banding agent to bind small particulates to larger particles and is acting to agglomerate fine particles of limestone. This bonding capability appears recoverable from environmental effects of winter, and from alternating wet and dry periods. The bentonite appears to be able to interact with new applications of limestone maintenance material and maintains a dust reduction capability. Soda ash dispersed bentonite treatment is approximately 10 times more cost effective per percent dust reduction than conventional chloride treatments with respect to time. However,the disadvantage is that there is not the initial dramatic reduction in dust generation as with the chloride treatment. Although dust is reduced 30-40% after treatment there is still dust being generated and the traveling public or residents may not perceive the reduction.

The Economic Potential of the Spergen Formation in Seven Southeastern Iowa Counties, HR-189, 1978

The middle Mississippian (Meramec Series) units include the Spergen Formation, the St. Louis Limestone and the Ste. Genevieve Formation which outcrop sporadically within a curvilinear subcrop band trending through southeastern and central Iowa. Studies of these units as they occur in Iowa have been cursory in the past, especially with regard to the lowermost occurring Meramecan unit, the Spergen Formation. The Spergen Formation, as it occurs in southeastern Iowa is being considered as a desirable concrete aggregate source. At present, the depth of occurrence, thickness variations and geographic extent are very poorly known and the nature of lithologic variation in Iowa is obscure. Due to a paucity of information of its thickness, extent and nature of rapid lateral facies variations, the full economic potential of the unit has not been realized in some areas of southeastern Iowa. This is especially disheartening in view of the decline of acceptable concrete aggregate source materials in southeastern Iowa. This report is an attempt to synthesize subsurface and surface data in order to present a more coherent picture of the depth, thickness and lithologic variations of the Spergen Formation. Recommendations have been made for the exploration of specific areas within the field area for future development of surface quarrying and subsurface mining operations where thickness, lithology and depth characteristics deem consideration. Due to the lack of adequate data points in some quadrants of the field area, some of the recommendations are drawn on rather tenuous grounds, but a concerted effort has been made to be conservative in these judgements.

Report on the Iowa Economic Development Authority for the year ended June 30, 2013

Report on the Iowa Economic Development Authority for the year ended June 30, 2013

Iowa Department of Economic Development Strategic Plan, March 27, 2012

This report outlines the strategic plan for Iowa Department of Economic Development, goals and mission.

Audit report on the Cedar County Economic Development Commission for the year ended June 30, 2014

Audit report on the Cedar County Economic Development Commission for the year ended June 30, 2014

Iowa Department of Economic Development Performance Plan, FY2015

Agency Performance Plan, Iowa Department of Economic Development