GRANTS & FUNDS
Iowa offers an array of financial assistance programs to help businesses expand and relocate in our state. Funds may be awarded as a forgivable loan, low- or no-interest loan, or principal or interest buy-down on a loan. The Greater Des Moines Partnership wants to help find assistance for your business. Contact us for individual assistance at (515) 286-4950.
Here's a general overview of what's available.
- Funding for rail and road improvements is available through the Iowa Department of Transportation.
- The High Quality Job Creation Program provides qualifying businesses with tax benefits to offset the costs incurred to locate, expand or modernize.
- The Iowa New Jobs Training Program provides funds for screening and assessment; travel for training purposes; in-plant instruction; costs of training facilities, equipment, and supplies, etc. The program is paid for by the new employees' withholding taxes at no cost to the employee or the company. These taxes may be diverted for a 10-year period to pay for up-front costs of training.
- Businesses utilizing the Iowa New Jobs Training Program may qualify for the New Jobs Tax Credit, a credit to the Iowa corporate income tax. The credit in 2009 is $1,422 per new employee. The credit can be carried forward for up to 10 years.
Go here to view the State of Iowa's financial assistance program details.
Click here to read about the State's tax advantages.
Iowa's Regulatory Assistance Program enhances the range of services available to companies by advising and assisting companies in the preparation and submission of permit applications with the Iowa Department of Natural Resources and other Iowa regulatory agencies.
Local incentives are offered by many of the metro communities. These incentives range from direct cash programs to forgiveness of property taxes.
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