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Business Incentives

Our mission at the Greater Fort Dodge Growth Alliance is to promote and foster economic development throughout our region.  To do so, we collaborate with our local, county and state of Iowa partners to assemble progressive and comprehensive financial assistance packages that will positively impact your business development project.

From tax abatement and state tax credits, to direct financial assistance, our business incentive packages are formed to your specific project goals.  By collecting such metrics as projected job creation and net new capital investment, we can build a targeted and substantial assistance program that will jumpstart your relocation or expansion.

The High-Quality Jobs (HQJ) program provides qualifying businesses assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility. This flexible program includes loans, forgivable loans, tax credits, exemptions and/or refunds. The Iowa Economic Development Authority offers this program to promote growth in businesses, which employ Iowans in jobs defined as high-quality by state statute.  (Iowa Economic Development Authority, 2024)

Investment Tax Credit

Qualifying projects can apply for sizable investment tax credits, which can be used to offset the business’ Iowa corporate income tax liability (based on qualifying capital expenditures). This tax credit is amortized over a five-year period and unused credits can be carried forward for up to seven years. These income tax credits are non-refundable and non-transferable.

(, 2024)

Refund of Sales and Use Tax

For construction-related materials costs, the state’s 6% sales & use tax can be refunded to the project.  The estimated value of this incentive is based on taxable construction material costs within the overall estimated construction budget. (, 2024)

For more information about business incentives, contact Jefferson Fosbender.