Post on 24-Dec-2015
Tim WhippleGeneral CounselIowa Economic Development Authority
Iowa is Working
Governor’s Growth Agenda
New Economic Development Model
The High Quality Jobs Program
Business Development Tax Credits
Program Description
The Program provides tax incentives to businesses that make capital investments and create jobs in the state.
Brief Legislative History New Jobs and Income Program (NJIP) created in 1995 In 2005, NJIP changed and renamed High Quality Job Creation
Program (HQJC) In 2009, HQJC amended again and renamed High Quality Jobs
Program
Core Eligibility Requirements
An engaged local partner (for projects larger than $10 million)
Cannot be a relocation from one Iowa community to another
Must meet job creation/retention requirements and wage threshold requirements
Must provide sufficient benefits package The fiscal return for the state must justify the amount of
incentives Cannot be a retail business or a business with a history of
violations of the law IEDA must consider the overall quality of the project
before making the award
Results
Total Capital Investment:
$9,026,505,425
Iowa Economic Development Authority – Business Assistance Awards, January 2011 through June 2014
Project Industry Sectors and Breakdown
Projects Awarded by
National Recognition
U.S. Chamber of Commerce Foundation’s Enterprising States 2014 study Top 10 States for Economic Performance -- #8 Iowa
ICAIncentives’ “Measuring the Quality of Incentive Programs” study “Best Practice” States identified that perform well, combining effective
tax incentive program evaluations with openness – Iowa among the six
Brownfield/Grayfield Tax Credits
New Additions for 2014
Program Description
The Program provides tax incentives to for the redevelopment of brownfields and grayfields.
New features: Abandoned public buildings eligible Refundability for nonprofits Award amounts negotiated by board
Transferrable credits $10M available
Workforce Housing Tax Credits
New Program for 2014
Program Description
The Program provides tax incentives to housing developers – NOT TIED TO ZONES.
EZ Program REPEALED. Eligibility:
A grayfield or brownfield site. The repair or rehab of dilapidated existing housing stock. An upper story project. New construction IF in a community with demonstrated workforce
housing needs. Cost per unit doesn’t exceed $200K, or $250K for historic rehab.
Transferrable credits $20M available
Iowa’s Public Entrepreneurial Funding Continuum
Innovation Funding
Since January 2011, IEDA has supported start-up projects with innovation funding equaling:
Program Sources $9.215 million (Innovation Fund – SSBCI) $ 575,000 (i6 Challenge Grant Fund) $5.194 million (Demo Fund)
$14,984,000
CJ Bio AmericaFort Dodge
Valent BiosciencesOsage
Iowa Fertilizer CompanyLee County
Rail.OneClinton
Small Business IASourceLink.com
A statewide resource and economic development tool for entrepreneurs and small businesses across Iowa and for those considering Iowa for a business location
Partnership between IEDA and University of Northern Iowa’s MyEntre.Net
What is it? Resource Navigator – connects entrepreneurs and small businesses
with resource providers across Iowa Statewide Events Calendar – comprehensive listing of networking,
educational and training opportunities taking place across Iowa Business Concierge – personalized assistance with marketing
demographics, trends and resources Business Licensing – customized help with identifying necessary
business registrations and licenses Information Source – webinars, e-newsletter, blogs and resources
offered on timely topics
Workforce Challenges
Education & Workforce Training Initiatives
Certification & credentialing of workforce – NCRC Skilled Iowa Expand Apprenticeship Programs STEM Immigration Reform Home Base Iowa Military
Recruitment Effort
Home Base Iowa A new non-profit, private-public partnership that will recruit
veterans and active duty service members for private-sector job opportunities in Iowa
Dedicated Staff – Kathy Anderson, Project Manager Website – www.homebaseiowa.org
Comprehensive source for job services available to veterans in Iowa
Marketing outreach: National advertising In-person outreach Social media campaign Military publications
Legislative Changes: Military Pension Income Tax Exemption Increases Military Homeowner Assistance Permissive Veteran Preference in Employment Streamlines Occupational Licensure Automatic in-state tuition for veterans, spouses and dependents
2014 Legislative Workforce Initiatives
STEM Internships Funding to support internships in science, technology, engineering and
mathematics The program will fund 400 interns at up to $5,000 each, allowing
employers to claim $1 for every $2 it pays interns
Apprenticeships Expansion of the 260F job training program would triple the amount of
state funding allocated for apprenticeships Support is increased from $1 million annually to $3 million by providing
additional funds and reforming and streamlining administration of the program
Development Ready Communities
Freight Network Optimization Strategy Certified building sites Quality of life initiatives Arts and Culture
Sustainability Connect Iowa Main Street Iowa Workforce Housing
Announced the first-round certifications Dexter, Fort Dodge, Iowa Falls and Van Meter
Certified Site Program
Community Development
Program Overview
Community Development Block Grant (CDBG)
Iowa receives approximately $21 million per year from HUD to: o Assist low and moderate income communities to
preserve and develop basic infrastructure and community systems
o Promote owner occupied housing rehabilitation to low and moderate income homeowners
o Support economic development activities that benefit low and moderate income persons through job creation/job training
Community Development Block Grant (CDBG)
Community Development Block Grant (CDBG)
o Most of Iowa’s CDBG programs accept applications on an annual basis.
o Applications are submitted online through Iowagrants.gov
o Applicants must be units of local government (cities less than 50,000 & counties)
o More information on Iowa’s CDBG programs can be found here: http://www.iowaeconomicdevelopment.com/CommunityDevelopment/CDBG
Main Street Iowa
Net business gain in MSI districts occurred in all 26 years of the state Main Street program
3,800 business starts, expansions and re-locations Sales tax collections from net new businesses in
MSI districts is 48 times the state appropriation to fund program
Added three new Main Street Communities in 2014 Newton, Avoca, Guthrie Center
$1 million Challenge Grant funding available to MSI communities
New Director – Jim Engle
Tim WhippleGeneral CounselIowa Economic Development Authority
Iowa is Working