Cherokee County Incentive Programs:
Intermediary Relending Program Revolving Loan Fund (IRP): The IRP is a local funding source with a goal of providing low interest loans to assist with local economic and community development projects. These monies are for gap financing only. This fund is administered by the IRP Committee, consisting of local business people dedicated to the growth of businesses in Cherokee County.
IRP Application Form
The Cherokee County IRP Revolving Loan Fund Enterprise Zones - Enterprise Zones are economically depressed areas in which state and local tax benefits are available to businesses and developers to make new investments, creating new jobs, and building or rehabilitating housing in those areas. Businesses locating or expanding in an Enterprise Zone may receive property tax exemptions, funding for employee training, sales tax refunds and more. An equal opportunity provider and requires loan recipients to adhere to all equal opportunity laws.
New Jobs Tax Credit - When businesses enter into an agreement under the Iowa New Jobs Training program, they may qualify for this additional credit to their Iowa corporate income tax.
For more information contact:
Executive Director, CAEDC
201 W. Main St.
Cherokee, IA 51012
CITY OF CHEROKEE INCENTIVE PROGRAMS:
Tax Increment Financing: The city has several designated Urban Renewal Areas or Tax Increment Financing Areas. If your business is located in one of those areas, it may be eligible for public improvement financing that uses the additional, or incremental taxes that the project will generate to help finance the cost of the project.
Tax Exemptions: Also called Tax Abatement. Under some circumstances, and within certain pre-defined geographical areas, the city has the authority to abate taxes that are to be paid on improvements to property within the area.
Industrial Revenue Bonds: The city can issue bonds for some economic development projects. The bonds are normally issued at a lower rate of interest than might otherwise be available to the business. Industrial revenue bonds are subject to a state maximum.
Redevelopment Incentive Fund: The Redevelopment Incentive Fund (RIF) provides financial incentives to property owners and business people within Cherokee's retail community to assist them in restoring and rehabilitating the storefronts of their property. See more information about RIF here.
New Business Incentive Program: The Cherokee Industrial Corporation/Cherokee Chamber of Commerce New Business Incentive Program offers free products, services, and memberships to new business start-ups. See more information about NBIP here.
City of Cherokee Revolving Loan Program: The City RLF is a local funding source with a goal of providing low interest loans to assist with local economic and community development projects. This fund is administered by the RLF Committee, consisting of local business people dedicated to the growth of businesses in the City of Cherokee.
OTHER CITY INCENTIVES:
City of Marcus: Tax abatement program
City of Aurelia: Tax abatement program
City of Cleghorn: TIF District
City of Larrabee: TIF District