Economic Development

St. Michael has an attractive environment for new and existing businesses. The sidebar to the right includes a map and list of commercial and industrial properties in St. Michael. Each month the EDA holds its meeting at a St. Michael business to learn more about the challenges and opportunities of local businesses. See what EDA has been up to around the community.

 

St. Michael Economic Development Authority in lobby of MidWestOne Bank with Branch Vice-President John Jost.

MidWestOne Bank

The EDA visited MidWestOne Bank Dec. 18, 2024. 

Prior to the meeting MidWestOne Bank Vice President/Retail Manager John Jost provided a tour of the bank which is located on the lower level of 750 Central Ave, St. Michael. MidWestOne is based in Iowa City, Iowa and has 52 branches overall. All branches are considered standalone community banks.

The St. Michael branch moved into this building in 2006 and currently employees 15 staff covering a variety of services. Approximately half of the employees have hybrid work schedules working both remotely and in the office. The Retail Staff (about half of the staff) are fulltime at the branch.

Jost shared how banking has changed since the onset of COVID-19 during the tour. He stated that less than 10% of business at this location is in-person. Of that 10% only a small portion are traditional banking services. The bulk of in-person service revolves around online banking challenges.

Bank hours are:

  • Drive-Thru: Monday-Friday 8:30 a.m. – 5 p.m.
  • Lobby: Monday-Friday 9-5 p.m.

Peggy Schumm, CPA lobby with St. Michael EDA members

Peggy S. Schumm, CPA

The EDA visited Peggy Schumm, CPA on Dec. 18, 2024.

After the MidWestOne Bank tour the EDA received a tour Peggy S. Schumm, CPA  offices located on the second floor of the building. Schumm has officed in the building for eight years and has nine employees that provide a variety of tax and accounting services to individuals, non-profits, and businesses. Approximately 60% of the company’s customers are from the local area.