Overview of Economic Incentives
Learn about the main incentives and programs to help business thrive:
New Jobs Tax Credit
Another benefit of the Iowa New Jobs Training Program is the Iowa New Jobs Tax Credit. The tax credit is available to a company that has entered into a New Jobs Training Program agreement and will increase its employment in Iowa by at least 10%.
Midwestern Disaster Area Bonds
Projects in Montgomery County qualify for Midwestern Disaster Area (MDA) Bonds that can be used for a broad array of products that would reduce borrowing cost to the project owner.
Research & Development Tax Credit
A refundable credit for increasing research activities is up to 6.5% of the company’s allotted share of qualifying research expenditures in Iowa. This can also be doubled under certain programs.
Local Tax Abatement
Iowa law allows cities and counties to abate local property taxes for improving industrial real estate.
Tax Increment Financing
City councils or boards of supervisors may use the property taxes resulting from the increase in taxable valuation caused by the construction of new industrial or commercial facilities to provide economic development incentives to a business.