The City of Spencer worked with the Iowa Lakes Corridor Development Corporation, Iowa Lakes Electric Cooperative, Spencer Municipal Utility, Iowa Area Development Group, and other business leaders in the community to recruit Godbersen Metal Works to Spencer. Godbersen is a manufacturer specializing in steel fabrication, welding, machining, painting, and assembly for a variety of industries. 

They purchased the 114,840 sq. ft. former Simonsen Iron Works facility, including the existing manufacturing equipment.  The building is large enough to accommodate their manufacturing operation plus a learning center necessary to train workers on the latest processes and skills needed to deliver high-quality products. Iowa Lakes Electric Cooperative serves the Godbersen plant and provided a $2 million pass-through loan secured through the USDA REDL&G program.