WATERLOO, Iowa (with excerpts from Clay and Milk) – In 2019, Lincoln Savings Bank purchased the top three floors of the historic John Deere Tractor Building (“Tech 1”) located on TechWorks campus in downtown Waterloo. The Techworks campus is a multi-building industrial plant reuse involving former Deere manufacturing buildings and property envisioned, advanced, and realized over nearly two decades with the help of Vandewalle & Associates.
This purchase was a significant move for LSB and is anticipated to have a positive economic impact for downtown Waterloo. The new location houses 150 of Lincoln Savings Bank’s staff and is projected to add up to 100 additional employees over the next five years.
In addition to LSB, the “Tech 1” building currently houses Grow Cedar Valley, the Cedar Valley Makerspace, Iowa Advanced Manufacturing Network Hub, Productive Resources, and the UNI Additive Manufacturing & Design Center. “Tech 2,” its companion former Deere building at TechWorks, houses a uniquely industrial Courtyard Marriott hotel. A third building houses the new John Deere Tractor & Engine Museum.
“That was a really important historic move for Lincoln Savings Bank to embark on,” said McCrary. “We’re more connected with the downtown community, and the small businesses that are here. This revitalization mission has been great not only for the state but for downtown Waterloo in particular. I think it is a tremendous stake in the ground for Lincoln Savings Bank and the community.”
Story excerpts above are from a series titled “Innovation in Cedar Valley,” an exploration of startups, individuals and innovative trends in the Cedar Valley. The series is sponsored by Launch Cedar Valley.
