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CONTACT: GEORGE McCRORY
100 Old Public Library
Iowa City IA 52242
(319) 384-0012; fax (319) 384-0024
e-mail: george-mccrory@uiowa.edu

Release: Immediate

Oakdale Systems, Inc. constructs new facility on UI Oakdale Research Park

CORALVILLE, Iowa -- Citing a need to accommodate its growing software development business, Oakdale Systems, Inc. has started construction of a new 7,500-square-foot corporate facility on the University of Iowa Oakdale Research Park in Coralville.

Oakdale Systems, Inc., a Microsoft Certified Solutions Provider, markets and develops custom software for a wide variety of applications. Oakdale Systems' customers include universities, small businesses, and large corporations.

"This building has long been a dream of ours, and represents a new era of growth for Oakdale Systems," said Michael Miller, founder and president of Oakdale Systems. "We just signed the largest contract in company history and have several others in process. Our 1998 revenues are expected to grow 50 to 70 percent over last year, and we expect similar growth in the next several years."

Oakdale Systems had five employees when it moved to the TIC, the UI business incubator, in October 1995. The company now employs 24 people, most of them software programmers and engineers, and expects to hire an additional 40 employees over the next five years.

"We're obviously very happy with this development," said Bruce Wheaton, director of the UI Oakdale Research Park. "Oakdale Systems will be the fourth 'graduate' of our business incubator to expand on the Park, and we expect that others will want to follow its example," he added.

The Iowa Department of Economic Development recently approved a $100,000 Community Economic Betterment Account award in the form of forgivable and zero-interest loans to Oakdale Systems for the project. The City of Coralville provided an additional $50,000 in the form of tax increment financing. Oakdale Systems is also participating in the Iowa Industrial New Jobs Training Program under a contract with Kirkwood Community College.

"We can't say enough good things about the support that we have received from the state, the city of Coralville, Kirkwood Community College, the business community, and especially the UI Technology Innovation Center," Miller said.

The $850,000 building is under construction on a 4.47-acre lot under long-term lease from The University of Iowa Research Park Corporation. Designed by the Cedar Rapids architectural firm Novak Design Group, the new one-story Oakdale Systems facility will have a masonry, steel, and glass exterior. It will be located south of Oakdale Boulevard along the eastern park boundary. The site includes space for additional Oakdale Systems buildings in the future.

General contractor for the project is Merit Construction Company of Cedar Rapids. First National Bank of Iowa City and Iowa Business Growth Company of Cedar Rapids are providing financing.

Oakdale Systems has developed software and provided services for following types of applications: route accounting for delivery trucks; point-of-sale, back office, and home office software for convenience stores; database applications for tracking physicians, medical professionals, and medical students; internet commerce; web site design and construction; and systems and network administration.

The UI Oakdale Research Park was established in 1989 to offer leased building sites and space to corporations engaged in research and development and related production and marketing activities.

Firms already on the Park include CADSI and Neural Applications Corp., UroSurge, Inc. and Stanley Consultants. The Iowa System for Institutional Advancement will move to the Park later this month. University anchor laboratories on the Park include Oakdale Medical Research, the Center for Biocatalysis and Bioprocessing, and the nearly completed NADS and Simulation Center.

For more information, contact Daniel L. Van Nyhuis at Oakdale Systems, Inc.,(319) 335-4079.

10/16/98