Nuzum Named Next President of Iowa Area Development Group
2 Sep 2021
The board of directors is pleased to announce the selection of Bruce Nuzum as the next president of the Iowa Area Development Group (IADG). Mr. Nuzum joined IADG in 1997 and most recently served as IADG’s Senior VP of Finance and Operations. He has been instrumental in project finance, helping IADG members lead the nation in securing over $158 million in project financing from the USDA Rural Economic Development Loan & Grant program. These funds also created 72 Revolving Loan Funds collectively totaling over $78.5 million to support business and community development projects statewide.
Speaking for the board of directors, Chairman Douglas Aeilts said, “Mr. Nuzum’s proven abilities and experience make him an ideal choice for moving the organization forward. His business and financial skills and familiarity with the rural utility partners who sponsor the statewide business and community development organization will ensure strong leadership and continuity for IADG.” Mr. Nuzum, a business and finance graduate of the University of Iowa, also holds an MBA degree from Drake University as well as several economic development certifications. He is a former president of the Professional Developers of Iowa and the National Rural Economic Developers Association.
Mr. Nuzum expressed his gratitude to the board, members, and staff for the opportunity to start a new chapter and era in the organization’s economic development mission. “IADG has been a profoundly respected and valuable asset for its utility sponsors and for the state of Iowa. I look forward to building upon the rich history and accomplishments of the organization and its members.” Mr. Nuzum will begin serving as the organization's Chief Executive Officer and will become president of IADG on the retirement of the current president Rand Fisher on
February 1, 2022. Fisher previously announced his retirement, which coincides with the 25th anniversary of his leadership of the organization.
The Iowa Area Development Group is the marketing and business development office for Iowa’s member-owned rural electric cooperatives, select municipal electric utilities, and independent telecommunication companies. IADG has assisted with over 2,250 successful business expansions and start-up projects. This growth represents capital investment of more than $13.2 billion and 54,500 jobs for Iowa. The Iowa Area Development Group was established in 1985 to promote and strengthen rural Iowa development opportunities. Stay connected with IADG news at www.facebook.com/IADG.IA and www.twitter.com/IADGIOWA.