Financing and Incentives
Unlock practical financial incentives and guidance to accelerate your business growth in Lee County, Iowa.
The Lee County Economic Development Group (LCEDG) shares resources to connect manufacturers, agribusinesses, and logistics leaders with state and local programs, capital options, and streamlined application support. Our team partners with employers, educators, utilities, and regional stakeholders to help you assess eligibility, maximize incentives, and navigate the process with confidence. Explore how targeted incentives can reduce risk, shorten timelines, and strengthen your competitive position in Southeast Iowa.
Opportunity Zone
Lee County has three Opportunity Zones available for investment. The State of Iowa does not tax machinery and equipment. Iowa also uses a single-factor tax formula, which taxes the profits of products sold in Iowa. Products sold to other states are not taxed. Additional funding is also available for training new employees. If applicable, these funds would be in addition to those authorized under the Iowa New Jobs Training Program.
The State of Iowa recently launched an effort to enact tax credits on industrial property, effectively lowering property taxes. Lee County also offers tax abatement programs for new construction. These apply to eligible businesses and are subject to negotiations with the local taxing authority. Iowa’s High Quality Jobs Program could provide some companies with a 100% exemption from local property taxes for a period not to exceed 20 years.
Each project is unique, so every incentive package is unique.
Incentives
The High Quality Jobs Program
The High Quality Jobs 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.
Tax Increment Financing (TIF)
Tax Increment Financing (TIF) may be used to pay the cost of public improvements and utilities, which will serve the new private development, to finance direct grants or loans to a company, or to provide a local match for federal or state economic development assistance programs.
The Revolving Loan Fund (RLF)
The Revolving Loan Fund (RLF) assists eligible businesses in retaining and creating private sector job opportunities. Approved applications may acquire funds for initial loans, or for loans to buy down the principal or interest on commercial loans. The maximum (RLF) loan is $125,000, at lower than conventional interest rates.
Lee County Port Authority
As the only port authority in the State of Iowa, SIREPA has unique capabilities to foster and support economic growth in Lee County. State legislation enables SIREPA to establish and operate Foreign Trade Zones, issue bonds, make loans, and more. SIREPA's tax exempt status provides additional opportunities for public and private collaboration. Find out more here.