Economic Development - MedQ

Economic Development

Medical Excellence and Business Growth

The Cedar Rapids MedQuarter was developed as a partnership between the city and Physicians’ Clinic of Iowa, Mercy Medical Center, and UnityPoint – St. Luke’s Hospital. In addition to collecting comprehensive and patient-centered medical services in one area, the district was developed to:

  • Attract and retain high-paying medical jobs
  • Promote reinvestment in downtown and adjacent neighborhoods
  • Attract customers from a 90-minute driving radius and beyond
  • Build new community partnerships
  • Attract other medical service providers
  • Attract restaurants, hotels and other service industries

Residents and visitors to the MedQuarter can find any combination of services around any of the major medical centers, such as restaurants near Mercy, shopping near St. Luke’s Hospital or, things to do near Physicians’ Clinic of Iowa.

The MedQuarter collaborated with The Lakota Group to create a master development plan that actively promotes economic development by:

  • Promoting the MedQuarter as a major rural referral center, competitive with other regional medical centers
  • Encouraging new business investment and development within the MedQuarter
  • Attracting more patients and customers to help grow healthcare-oriented businesses in the MedQuarter

Download the MedQ Economic Development Overview.

Collaboration with Iowa Startup Accelerator’s Qualified Mentor Network

The MedQuarter is collaborating with NewBoCo/Iowa Startup Accelerator (ISA) to design, implement, and execute a Qualified Mentor Network that has the expertise required to attract, retain, and grow early stage companies in health-related fields. In 2018, several leaders from prominent healthcare amenities in the MedQuarter Regional Medical District attended a professional development training to become mentors as part of the ISA’s Qualified Mentor Network. These mentors will be paired with startup teams going through the Iowa Startup Accelerator to help connect and identify opportunities in the district, the city, and the region. To learn more about the Qualified Mentor Network, contact Phil Wasta, MedQuarter Executive Director.

Revolving Loan Fund Information & Application

The Revolving Loan Fund is a loan pool established by the MedQuarter and administered by the East Central Iowa Council of Governments to provide business creation and expansion assistance for small businesses located within the MedQuarter Regional Medical District. Download the guidelines and application below.

MedQ Revolving Loan Fund Info and Application

MedQuarter Facade Improvement Program

Terra Heaton, Courtney Hahn & Wayne Winn (Grey’s Pub), John Albert (MedQuarter Commission Member, & Michelle Jensen (MedQuarter Commission Chair) with Grey’s Pub facade improvement check.

The MedQuarter Facade Improvement Program is intended to encourage property and business owners within the MedQuarter to renovate their building fronts and other exteriors plainly visible to the public. By establishing a mechanism for the City of Cedar Rapids and the Cedar Rapids Medical Self-Supported Municipal Improvement District Commision to share in the project cost, the Program promotes more renovations, as well as higher quality exterior improvements. An increase in the visible private investment complements all other economic initiatives within the area. Since the launch of the MedQuarter Facade Improvement Grant Program in 2016, over $28,000 has been awarded for five facade improvement projects.

For more information, download the informational PDF:  MedQuarter Facade Improvement Program.

Cedar Rapids’ National Rankings

The MedQuarter is part of a growing and vibrant city.  Cedar Rapids was ranked #50 Best Place to Live in the US (Livability 2019) along with numerous other accolades.  Learn More about Cedar Rapids' national rankings.

The MedQuarter collaborates on economic development initiatives with:

City of Cedar Rapids
Cedar Rapids Downtown SSMID
Cedar Rapids Metro Economic Alliance
Cedar Rapids Economic Development
Entrepreneurial Development Center
MedQuarter Facade Improvement Program
Master Development Plan

The MedQuarter is keeping up-to-date on information and resources regarding the pandemic.
See MedQ COVID-19 Business Resources | Support MedQ Businesses