Local Incentives
Tax Abatement: The City of Lamoni and The City of Leon will approve of tax abatement for qualified new or existing businesses looking to expand or relocate. Tax abatement is a financial incentive that reduces or eliminates an amount of property tax for development purposes.
Tax Increment Financing (TIF): Qualified new or existing businesses looking to expand or relocate may be approved for TIF. TIF is a public financing method used for re-development purposes.
Low-Interest Development Loans: Qualified new or existing businesses and entrepreneurs are eligible to apply for small, low interest loans (2%-3%) for expansion or start-up costs.
Workforce Recruitment Aid: The Decatur County Development Corporation is committed to aiding qualified businesses in finding appropriate employees.
Build to Suit Program: The BTS Program allows qualified expanding or relocating businesses to negotiate a Triple Net Lease agreement with the local development authorities, of which will build a facility to suit their specs and needs.
Iowa Area Development Group (IADG)
Ripple Effect: Direct financial assistance to emerging and expanding companies through low-interest loans matched by the local Independent Telecommunication Company.
Questline: Questline provides fast, unlimited, and confidential access to a team of technical and engineering experts. Questline can answer commercial, agricultural and industrial questions regarding new technology, energy efficiency, regulatory issues, recycling, supplier location assistance, materials and processes, and general research.
Rural Economic Development Loan Program: 0% loan of up to $1,000,000 for qualified businesses who will be creating a significant amount of jobs in a rural area.
IADG Energy Bank: 10 year, 1% interest loans in the amount of $50,000-$500,000 for qualified businesses who need assistance financing energy projects, energy efficiency improvements, and energy management implementation plans.
Iowa Economic Development Authority (IEDA)
High Quality Jobs Program: Provides tax credits and direct financial assistance to assist qualifying businesses to locate, expand, or modernize and Iowa facility. To qualify for this very flexible assistance package that includes loans, forgivable loans, tax credits, exemptions and/ or refunds, eligible businesses must meet certain wage threshold requirements.
Employee Stock Ownership Plan: Allows the owners of companies to share the business equity with employees as well as a retirement plan for those employees. (not really an “incentive” per se, more of a resource)
Iowa Industrial New Jobs Training (260E):
The Industrial new Jobs Training Program provides businesses, which are expanding their Iowa workforce, with new employee training.
Iowa Jobs Training Program (260F):
The Iowa Jobs Training Program provides job training services to current employees of eligible businesses that are located in Iowa. Eligible businesses can work with their local Iowa community college, which will assess training needs, determine funds availability and provide training. For participating businesses, the advantages include valuable employee training at a reduce – or no – cost.
New Jobs Tax Credit: Iowa corporate income tax credit that is available to a company that has entered into a New Jobs Training Agreement (260E) and expands their Iowa employment base by 10%.
Research Activities Credit: Iowa sets itself apart, being one of only a few states to offer a refundable research activities credit. Iowa companies earn refundable tax credits for research and development investments that may be paid directly in cash to the company once its tax liabilities have been met.
Employee Training Programs:
- Iowa Apprenticeship Program: Qualified and registered apprenticeship programs may apply for an IEDA training grant that may be used towards the cost of conducting and maintaining the program.
- Job Training in Partnership with SWICC: Job Training is available in partnership with Southwest Iowa Community College for existing, expanding, or relocating businesses. Qualified employers who are expanding Iowa-based workforce may participate in several programs that provide new employees with training at a reduced or no cost.
- Accelerated Career Education: An innovative program that addresses the needs of businesses that have an enhanced skilled workforce.
Iowa Student Internship: Provides grants to small and medium-sized companies in the advanced manufacturing, biosciences and information technology industries to help support their internship programs.
STEM Internship Program: Assists in placing Iowa students studying in the fields of science, technology, engineering, and mathematics into internships that lead to permanent positions with Iowa employers.
International Business Assistance: Assists global companies interested in establishing or expanding operations in Iowa.
Demonstration Fund: Provides financial and technical assistance to entrepreneurs and businesses for high technology prototype and concept development activities.
Proof of Commercial Relevance: Awards up to $25,000 in grant money with a 1:2 (Private: Public) match for qualified businesses who have demonstrated a proof-of-concept for innovative technology.
Iowa Innovation Accelerator Fund: Awards low-interest loans or royalty agreements not exceeding $100,000 or 50% of the project costs for businesses that engage in the transfer of technology into competitive, profitable companies that create high paying jobs.
Targeted Small Business Program: Assists women, minorities and the disabled overcome challenges in starting or growing small businesses in Iowa. Qualified Iowa small business owners are eligible for microloans.