Mark Nolte, the former interim president for the Iowa City Area Development Group, has been named the group’s president, according to a press release.

The group’s Board of Directors selected Nolte, who has served in the interim position since May. He replaces former President Joe Raso, who left in May, 2012.

“We are very excited to make this announcement and congratulate Mark on this new role,” said Chuck Peters, the head of the group’s Board of Directors.  “As interim president, Mark consistently provided deft leadership including overseeing the opening of the IC CoLab, implementing our Vision 2030 plan, and providing outstanding service to our investors and clients.  In filling this position, the board first worked on clarifying our purpose in supporting regional economic development, and Mark was hired to most effectively pursue our declared objectives."

A national search was conducted by the group’s Executive Committee, in which three finalists were chosen before a series of interviews and investor meeting.

Nolte, who joined the group in 2007, had previously served as business development director, working with entrepreneurial start-ups, business recruiting and industry clients. He has been noted for the creation of the new IC CoLab, the first coworking space to be operated by an economic-development group in the nation. Among his top priorities include growing the membership and recognition for the IC CoLab and developing a stronger strategy in developing companies.

“I want to thank the Board of Directors for guidance and the group staff for their outstanding efforts during this transition period,” Nolte said in the press release. “We have a unique opportunity to create a center of unmatched commerce and innovation in this area and I’m thrilled to lead our team.”