Contributing to the growth and development of the communities electric cooperative serve is a part of our core business structure. When it comes to looking at organizations that are leading the economic future in all 99 counties, Iowa's electric cooperatives should immediately come to mind.

The cooperatives' business structure of embracing local control and ownership makes us more responsive to our local communities. We care about the needs of our members and their communities. In addition, we make a big effort to enhance the quality of life in our service areas. Local control allows us to implement technology in the best manner for each system. Because each co-op serves a unique geographic market, it may make sense for one of us to install automatic meter reading devices, but for another, such an investment may not be reasonable.

From the economic development standpoint, local control becomes even more important. Cooperatives have been able to tailor our economic development projects to specifically meet the needs of our area.

In 2004, Iowa's electric cooperatives participated in an economic impact study that revealed cooperatives make an impressive economic impact in each of Iowa's 99 counties - a statistic that not many private sector organizations can even boast. The study showed during one year, electric cooperatives invested $103 million in utility plant in 2003, leveraged $28 million in loans and grants into a $110 million impact on Iowa communities and returned $10.8 million in patronage to members.

The study measured the economic impact Iowa's electric cooperatives have on community and business development programs, charitable donations, community investments and volunteer activities.

Iowa's electric cooperatives invested money back into their communities, contributing over $10 million statewide to support business and community development programs. In addition;

• $5.4 million was spent on business and economic development;
• $2.8 million was invested in housing projects;
• $2 million was invested in volunteer time, contributing 84,000 hours of employee volunteer hours.

In addition to adding over $900 million in economic output to their local communities, Iowa's electric cooperatives affected the employment of nearly 5,400 residents and increased the local income of those communities by over $168 million. All together, Iowa's electric cooperatives added an average of $1,648 to local economies for each of their resident members. For each resident, they provided an average of:

• $25.75 in community, educational, housing and development activities;
• $56.14 in community and business investments;
• $1,162 in purchases from local businesses.

The Iowa Association of Electric Cooperatives also continued its connection with more than 600 co-ops in 44 states across the county to market our local, community-minded spirit through the name and logo Touchstone Energy. Together, these electric cooperatives deliver energy to more than 22 million customers every day. Cooperatives are committed to serving commercial, industrial and residential customers with integrity, accountability, innovation and community involvement.

Iowa's electric cooperatives - focused on sustaining and growing our communities.