New State Funds will Grow Iowa's Targeted Industries:
- Advanced Manufacturing
- Biosciences
- Information Technology
Boost commercialization, innovation, job training and high-quality job creation in Iowa!
College Internship Program
The program links Iowa's college students to internship programs in within the Targeted Industries. Funds are available for Iowa-based companies with fewer than 500 employees.
Demonstration Fund
The Demonstration Fund provides pre-seed capital to encourage prototype and concept development activities to small and medium sized Iowa companies.
Information Technology Training Program
Training Funds for Iowa IT firms or IT departments of companies in targeted industries to upgrade the technical skills of existing high-level employees.
Information Technology Joint Venture Fund
Financial and technical assistance to Iowa IT-user companies and IT producer companies to work on joint R&D programs to develop the next generation of specialized IT products and services.
To learn more, visit the link for "Innovation and Commercialization Programs" at http://www.iowalifechanging.com/business
Apply now!
Midwestern Area Disaster Bonds
Provide assistance to areas in the Midwest that suffered severe storms, tornadoes and flooding in the spring and summer of 2008. To qualify, the business or trade must have suffered a loss attributed to the severe storms, tornadoes or flooding or, the business must be replacing a business or trade that suffered a loss. The loss and the project financed with the bonds must be located in any one of more of the 78 counties declared a major diaster area. The eligible counties are shown in orange and red on this map.
To learn more, visit http://www.iowafinanceauthority.gov/en/economic_development/midwestern_disaster_area_bonds/ or contact Lori Beary at 1-800-432-7230
See links below for Development Assistance, Tax Incentives, and Foreign Trade Zones.
Development Assistance
Brownfield Redevelopment Program
Provides tools and directions to redevelop brownfields, including targeted site assessments, technical reviews, land recycling program, research and resources, and grants and loans, with the goal of moving sites into redevelopment and reuse.
Community Economic Betterment Account and Economic Development Set Aside Account
The CEBA and EDSA programs provide financial assistance to companies that create new employment opportunities and/or retain existing jobs, and make new capital investment in Iowa.
New Business Resources
Technical and financial assistance is available to eligible start-up and early-stage enterprises.
Iowa Self Employment Program
The IOWA SELF-EMPLOYMENT (ISE) program helps qualified individuals with disabilities establish, acquire, or expand a small business by providing technical and financial assistance.
High Quality Job Creation Program
Created in 2005 to promote the creation of quality jobs by businesses locating, expanding or modernizing their facilities in Iowa. To be eligible, businesses must meet criteria relating to targeted industries, employee benefits and building specifications, among others. The program offers a package of tax credits, exemptions and/or refunds to approved businesses.
Immigration Business Assistance Program
Consulting services are available to assist individual businesses with employing immigrant workers by providing clear, straight-forward information about the immigration hiring process, making referrals to expert resources, and working with key regulatory agencies to resolve barriers.
Iowa Industrial New Jobs Training Program (260E)
Funds are available to train new employees of eligible Iowa businesses. Eligible businesses may be new to Iowa, expanding their Iowa workforce or relocating to the state.
Iowa Jobs Training Program (260F)
Job training services are available to current employees of eligible businesses that are located in Iowa.
Targeted Small Business Financial Assistance Program
This program assists in the creation and expansion of minority- or women-owned businesses through direct loans of up to $25,000 and loan guarantees of up to $40,000.
Value-Added Agricultural Products and Processes Financial Assistance Program
This program seeks to increase the innovative utilization of Iowa's agricultural commodities by investing in the development of new ag products and new processing technologies.
Enterprise Zones
Businesses locating new facilities or expanding existing facilities and creating new jobs in areas designated as Enterprise Zones may be eligible to receive local and state tax benefits.
New Jobs Tax Credit
A business entering into an agreement under the state's training program and increasing its Iowa workforce by at least 10 percent may qualify for this Iowa corporate income tax credit. This credit is equal to six percent of the state unemployment insurance taxable wage base. The credit for 2005 is up to $1,224 per new employee and can be carried forward up to 10 years.
Research and Development Tax Credit
A credit for increasing research activities is 6.5 percent of the company's allotted share of qualifying research expenditures in Iowa. A company must meet the qualifications of the federal research activities credit in order to be eligible for the credit on the Iowa return.
Tax Advantages
Iowa has numerous tax benefits for the increased profitability and productivity of your business!
Tax Increment Financing (TIF)
Property taxes resulting from the increase in taxable valuation due to construction of new industrial or commercial facilities may be used by cities and counties to provide economic development incentives to a business or industry. TIF may be used to offset the cost of public improvements and utilities that will serve the new private development, to finance direct grants or loans to a company, or to provide the local match for federal or state economic development assistance programs.
