Iowa Lakes Corridor Incentives

Incentives Directory

The Iowa Lakes Corridor region strongly supports existing and prospective business and industry. Our communities, counties, utilities and organizations work cooperatively to find ways to assist companies and provide incentives for their expansion and location in the region.

In addition to several state and federal programs available to assist expanding and new business and industry, several tools are available locally in the Iowa Lakes Corridor region. Local and regional revolving loan funds are available throughout the Corridor including the Northwest Iowa Planning and Development RLF, the Estherville RLF, the Iowa Great Lakes Industrial Board, and the Storm Lake Area Development Commission RLF. Low interest or interest-free loans through Iowa Lakes Electric Cooperative or Corn Belt Power are also available. The Spencer Area Jobs Trust provides zero to low-interest loans or forgivable loans for existing and prospective companies that create new jobs in Spencer. These funds are often used in conjunction with the Iowa Department of Economic Development as local matching support for Grow Iowa Values Fund projects. The amount and terms of these loans would depend upon the specifics of your project and are subject to the approval of the governing bodies of these organizations.

Communities in the Corridor also provide property tax exemption as allowed by Iowa law over a five-year period.

Tax-increment financing is another tool that is available for projects locating within urban renewal districts in Corridor communities. Each community in the corridor has a different policy and approach when using TIF, contact the Iowa Lakes Corridor for more information.

For more information on the Iowa Department of Economic Development's (IDED) financial assistance program.

Incentives Directory



Workforce Training

The State of Iowa’s New Jobs Training Program (INJTP) is designed to provide education and training for new employees of new and expanding companies at little or no cost. This is a State of Iowa program not found anywhere else in the country. The INJTP is very flexible and can be


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Assistive Device Tax Credit

Reduces taxes for small businesses that incur costs through making physical changes to the workplace to help employees with disabilities to get or keep their job.


Category: Iowa State Incentives, Tax Incentives


Brownfield/Grayfield Tax Credit Program

The Brownfield/Grayfield Tax Credit Program offers qualifying projects tax credits of up to 24% for qualifying costs of a Brownfield project and 30% if the project meets green building requirements. “Grayfield” is also included in the tax credit program. A Grayfield project (see administrative rules for specific definition) can receive


Category: Iowa State Incentives, Tax Incentives


Demonstration Fund

Provides financial awards up to $150,000 to encourage commercialization activities by small and medium-sized Iowa companies in the advanced manufacturing, biosciences, and information technology industries. The fund is designed to encourage product refinements, market planning and market entry activities of unique products to foster competitive, profitable companies that create high


Category: Iowa State Incentives, Grants & Loans


Endow Iowa

Endow Iowa was developed to encourage the growth and development of community foundations and related organizations in the state, by encouraging donations to non-profit organizations. Individuals, businesses, and financial institutions are eligible for a state tax credit equal to 20% of the amount donated for donations to an Endow Iowa


Category: Iowa State Incentives, Tax Incentives


Enterprise Zones

Enterprise Zones are economically depressed areas in which state and/or local tax benefits are available to businesses and developers make new investments, create or retain jobs and build or rehabilitate housing in those areas. Businesses locating or expanding in an Enterprise Zone may receive property tax exemptions, funding for employee


Category: Iowa State Incentives, Tax Incentives


Entrepreneurial Venture Component

The entrepreneurial component provides financial assistance and/or technical assistance to early-stage businesses that are developing a new product or new technology. INVESTING IN NEW IDEAS AND TECHNOLOGY! The Iowa Economic Development Authority (IEDA) has retooled our direct financial assistance programs to provide the flexibility and responsiveness necessary to support business needs. The


Category: Iowa State Incentives, Grants & Loans


Grow Iowa Values Financial Assistance Program

Serves as the funding source for projects that are focused on job creation or retention, value-added agriculture and entrepreneurial efforts. This program, combined with Iowa’s nationally recognized business climate, tax incentives and proactive state government make Iowa a great place to do business.


Category: Iowa State Incentives, Grants & Loans


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