Incentives

Grants and Tax Credits

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.

• The High Quality Job Creation Program provides qualifying businesses tax credits to off-set the cost incurred to locate, expand or modernize an Iowa facility. To qualify for this very flexible assistance package that includes tax credits, exemptions and/ or refunds, a business must be a non-retail or non-service business and meet wage requirements.
• 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 for 2016 is $1,698 per new employee. The credit can be carried forward for up to 10 years.
• Funding for rail and road improvements is available through the Iowa Department of Transportation.

Local incentives are offered by many of the metro communities.  These incentives range from direct financial assistance programs to forgiveness of property taxes.