STATE OF IOWA INCENTIVE PROGRAMS:
To be eligible for funding from state programs, your project must create or retain jobs in Iowa.
The Iowa Values Fund (IVF) is the state's premier 10-year economic development program designed to transform Iowa's economy by creating high quality jobs through business development and expansion across Iowa. With a $35 million dollar annual appropriation for business development and marketing, the IVF assists Iowa companies to expand, as well as attract new businesses to the state. A variety of business development programs are available through the Iowa Values Fund as listed below:
- Community Economic Betterment Account (CEBA) / Economic Development Set-Aside (EDSA) - Provides financial assistance to companies that create new quality employment opportunities and/or retain existing jobs, and make new capital investment in Iowa. The EDSA program is targeted toward low- and moderate-income individuals.
- Value-Added Agricultural Products and Processes Financial Assistance Program (VAAPFAP) - Seeks to increase the innovative utilization of Iowa's agricultural commodities.
Tax Incentives for business development include the following:
- High Quality Job Creation Program - This program is designed to promote the creation of quality jobs by assisting businesses locating, expanding or modernizing their facilities in Iowa through a package of tax credits, exemptions, and/or refunds to approved businesses.
- Targeted Jobs Withholding Tax Credit Pilot Program - The Targeted Jobs Withholding Tax Credit Pilot Program is a new pilot program enacted in 2006 which allows the diversion of withholding funds paid by an employer to be matched by a designated "pilot" city to create economic incentives that can be directed toward the growth and expansion of targeted businesses located within Urban Renewal areas.
Infrastructure Assistance Programs:
- Physical Infrastructure Assistance Program (PIAP) - The PIAP is designed to financially assist capital-intensive infrastructure projects that create unique opportunities for quality, high-wage jobs and demonstrate a statewide impact. Both Iowa communities and new or existing businesses are eligible for this innovative program. PIAP is designed to take a comprehensive approach to address a wide variety of critical infrastructure needs. This program may also be used to remediate contaminated sites that have potential development opportunities contingent on the cleanup. Assistance is provided in the form of loans, forgivable loans and cost indemnification agreements.
- Public Facilities Set-Aside (PFSA) - The PFSA program provides financial assistance to cities with less than 50,000 in population and to counties for public infrastructure improvements that enable businesses to create new job opportunities. Projects that will create manufacturing jobs, add value to Iowa resources and/or increase out-of-state exports will be given priority. Eligible projects include adding or improving sanitary sewer systems, water systems, streets, roads, and storm sewers.
- Employee Training programs create a thriving, skilled work force:
- Iowa Industrial New Jobs Training Program (260E) - Provides no-cost or reduced-cost job-training services to new employees of eligible businesses through Iowa's community college system
- Iowa Jobs Training Program (260F) - Provides job training services to current employees of eligible businesses that are located in Iowa.
- Targeted Small Business Financial Assistance Program (TSBFAP) - Designed to create and expand minority- or women-owned businesses through direct loans
- Entrepreneurs With Disabilities (EWD) - Helps qualified individuals with disabilities establish, acquire, maintain or expand a small business by providing technical and financial assistance
- Assistive Device Tax Credit - Reduces taxes for small businesses that incur costs through making physical changes to the workplace to help employees with disabilities to get or keep their job
- Export Trade Assistance Program (ETAP) - Iowa may reimburse you for up to 75% of your international marketing efforts.
IDED (http://www.iowalifechanging.com) assistance extends beyond the department's programs to those offered by other Iowa departments, community/county programs and programs offered through the federal government. Call IDED for more detailed information about how your company can qualify for these innovative programs. Phone: 515.242.4896 or 800.245.4692. E-mail: firstname.lastname@example.org.
The assistance you get from the Business License Information Center is free. Call toll free, Monday through Friday, 8am to 4:30 pm: (800) 532-1216. In Des Moines or outside Iowa. (515) 281-8310 or (515) 281-8324. You can also access the sales permit site by clicking here.