Finding the ideal location for a new healthcare facility is a complex process that involves careful consideration of various factors. From analyzing the local market conditions to evaluating population demographics and securing the right commercial property, healthcare businesses must make informed decisions to position themselves for success.
For providers in the Central Iowa area, Altoona emerges as a compelling option worth considering.
The city is already an established industry hub, home to regional leaders like UnityPoint Health and The Iowa Clinic, which have opened a total of 6 practices in the area. And there’s plenty more room for growth.
With its surging population, highly educated workforce, strategic location, extensive commercial real estate inventory, and overall appeal as the best place to raise a family in Iowa—Altoona presents numerous advantages for healthcare businesses seeking to relocate or establish new clinics, offices, and medical facilities.
Let’s delve deeper into the process of finding the ideal location and discover why Altoona, Iowa is the best choice for healthcare expansion.
DETERMINING THE IDEAL LOCATION FOR A NEW HEALTHCARE FACILITY
Opening a new healthcare facility comes with its fair share of challenges. In order to start a new practice or successfully relocate your business to Altoona, Iowa, you’ll need to consider the following.
HOW SUITABLE IS THE LOCAL MARKET?
Paying attention to market conditions is crucial when selecting a location for your new medical facility. Analyze the demand for healthcare services, competition, growth potential, and the overall suitability of the business environment. Understanding the larger market dynamics allows you to meet the evolving needs of the community and identify untapped opportunities.
ARE THERE ENOUGH PROSPECTIVE PATIENTS & EMPLOYEES IN THE AREA?
Thoroughly researching population and workforce statistics is essential for determining if a region aligns with your practice and target patient base. You’ll need to analyze things like growth trends and age distribution to ensure your services cater to the community’s needs. You’ll also need to evaluate the local labor market to confirm there’s a large enough pool of qualified professionals who can fulfill your staffing requirements.
CAN YOU FIND A COMMERCIAL PROPERTY WITH SUFFICIENT SPACE & CONNECTIVITY?
Prior to purchasing or leasing a commercial property, you must review the area’s traffic patterns and major thoroughfares to ensure convenient access for patients. Proximity to home, work, or school is a significant factor patients consider when choosing a physician.
Assess each building’s square footage, the potential for expansion, and the availability of well-lit parking, and weigh the pros and cons of purchasing versus leasing. Keep in mind that working with a real estate broker can simplify the process.
ALTOONA: THE IDEAL LOCATION FOR HEALTHCARE EXPANSION
As previously mentioned, relocating a healthcare facility involves numerous considerations, including workforce availability, market demand and the availability of suitable real estate. Altoona, Iowa ticks all the boxes, offering a thriving population, a skilled workforce, a strategic business location and a range of commercial real estate options.
IMPRESSIVE POPULATION GROWTH & MARKET DEVELOPMENT
Now home to more than 20,000 residents, Altoona has experienced a remarkable 35% increase in population since 2010, positioning it as one of the fastest-growing cities in the Central Iowa area.
The city’s flourishing dining and entertainment scene, wide range of public amenities and proximity to the state capital of Des Moines have contributed to its appeal as both a residential and business destination. This population boom has resulted in an increased demand for healthcare services, creating a ripe market for healthcare facilities to flourish.
Further, in addition to having a high concentration of families, 70% of Altoona’s resident population is over the age of 18. This demographic trend not only indicates the need for primary care services but also presents opportunities for specialized healthcare providers catering to the unique needs of families, such as pediatricians, obstetricians, and family medicine practitioners.
HIGHLY EDUCATED & SKILLED WORKFORCE
Altoona takes pride in its highly educated, specialized, and diverse workforce. In fact, the healthcare and social assistance sector is the largest industry in Altoona, employing over 1,443 workers. This concentration of healthcare professionals ensures a robust talent pool for healthcare facilities considering Altoona as their base of operations.
Plus, the Des Moines metro is home to various healthcare educational institutions and training programs like Des Moines University, helping nurture a pipeline of skilled professionals who are ready to contribute to the growth and success of the industry throughout the Central Iowa region.
CENTRAL IOWA’S BUSINESS HUB
Altoona’s status as a prominent business hub in the Des Moines metro offers significant advantages for healthcare providers. The city is home to major employers, such as Meta and Prairie Meadows, which attract a substantial workforce. It bears repeating that this is crucial for the growth of healthcare businesses, as patients consider their healthcare provider’s proximity to their workplace to be a top priority when establishing care.
Furthermore, Altoona’s location at the crossroads of major transportation routes (including I-80, I-35 and U.S. 65) makes it easily accessible for patients from neighboring towns and cities.
EXTENSIVE BUSINESS REAL ESTATE INVENTORY
The City of Altoona has an extensive inventory of commercial buildings for sale and for lease, making it an attractive destination for healthcare companies seeking business real estate space to establish or expand their operations.
Moreover, Altoona land development is at an all-time high, offering 1,600 acres of some of the best commercial land for sale in Iowa. This is especially beneficial for healthcare businesses looking to construct large or custom-designed medical facilities.
Whether you want to build your new facility from the ground up or get started with a turnkey commercial property for lease in Iowa’s business-friendly home for growth, you’ll find plenty of opportunities exploring Altoona property sales.
BUILD YOUR BUSINESS IN ALTOONA, IOWA
Is your medical business planning an Iowa relocation, or looking for a new base of operations that’ll help you capitalize on the steady market growth of the Des Moines metro?
A leader in Iowa economic development—the City of Altoona is equipped with the leaders, economic tools, utilities, and infrastructure needed to support the long-term growth of your healthcare business. We’re the Hawkeye State’s home for growth, a place where families, companies, and millions of visitors come to thrive.
Over the last two decades, Altoona development has accelerated tremendously, and there are currently numerous opportunities for businesses looking to purchase properties or developers looking to build.