Financing & Incentives
Each project is unique, so every incentive package is unique. Contact Dennis Fraise or Dana Millard to discuss your project.
Below are some of the incentives Lee County has to offer.
- Opportunity Zone - Lee County has three Opportunity Zones available for investment.
- The State of Iowa does not tax machinery and equipment. Iowa also has a single factor tax formula— which taxes the profits of products that are sold within the state of Iowa. Products sold to other states are not taxed.
- Additional funding for training new employees. If applicable, these funds would be in addition to those authorized under the Iowa New Jobs Training Program. View our 260E and 260F funding options.
- The State of Iowa has recently started an effort to enact tax credits on industrial property effectively lowering property taxes. Lee County offers tax abatement programs for new construction.
- For eligible businesses, and subject to negotiations with the local taxing authority, one potential benefit of Iowa’s High Quality Jobs Program could be up to a 100% exemption from local property taxes for a period not to exceed twenty years.
- 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) 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) 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.