State of Iowa Financial Assistance Programs

State of Iowa Financial Assistance Programs

Community Economic Betterment Account (CEBA)
The CEBA program provides financial assistance to companies that create new employment opportunities and/or retain existing jobs, and make new capital investment in Iowa. The amount of funding is based, in part, on the number of jobs to be created/retained. Funds are provided in the form of loans and forgivable loans.

Economic Development Set-Aside Program (EDSA)
The EDSA program provides financial assistance to companies that create new employment opportunities and/or retain existing jobs, and make new capital investment in Iowa. The amount of funding is based, in part, on the number of jobs to be created/retained. Funds are provided in the form of loans and forgivable loans. At least 51 percent of the created/retained employment opportunities must be made available to individuals presently earning wages defined as low-and-moderate income.

Value-Added Products and Processes Financial Assistance Program (VAAPFAP)
The Value-Added Agricultural Products and Processes Financial Assistance Program seeks to increase the innovative utilization of Iowa's agricultural commodities. It accomplishes this by investing in the development of new agri-products and new processing technologies. Financial assistance is provided in the form of loans and forgivable loans.

New Jobs and Income Program (NJIP)
The Iowa New Jobs and Income Program provides a package of tax credits and exemptions to businesses making a capital investment of at least $11,414,000 and creating 50 or more jobs meeting wage and benefit targets. Qualifying businesses participating in NJIP receive substantial benefits.

Enterprise Zones
Business locating or expanding in an Enterprise Zone making a minimum capital investment of $500,000 and creating at least 10 full-time jobs meeting wage and benefit targets may receive tax benefits including local property tax exemption on the value-added to the property; additional funding for training new employees (in addition to those authorized under the Iowa Industrial New Jobs Training Program); a refund of state sales, service or use taxes paid to contractors or subcontractors during construction; an investment tax credit of up to a maximum of 10 percent of new investment in machinery and equipment, land, buildings and improvements to existing buildings (and can be carried forward for up to seven years or until depleted); and an additional research and development tax credit of up to 6.5 percent.

Iowa Industrial New Jobs Training Program (260E)
The Iowa Industrial New Jobs Training Program provides customized classroom instruction, on-the-job training and other training activities for employees in newly created jobs. An employer may be reimbursed up to 50 percent of new employees' wages for on-the-job training. All training is customized to the company's special needs. Community colleges finance the program by the sale of tax-exempt bonds which are repaid by the tax revenue generated by the salaries and capital invested to support the new jobs. As a result company profits are not used to repay the bonds.

For more information on State of Iowa financial assistance programs, visit the Iowa Economic Development Authority's website.

News

FedEx Launches Seventh Annual Small Business Grant Contest

Posted: Wed, February 20, 2019

FedEx Launches Seventh Annual Small Business Grant Contest

$220,500 in Total Cash and Prizes Up for Grabs in 2019 Contest


MEMPHIS, Tenn., February 19, 2019—FedEx Corp. (NYSE: FDX) today announced the launch of its seventh annual Small Business Grant Contest. This year, the contest offers grants and services to ten U.S. based small businesses, distributing a collective prize pool of $220,500—the largest sum since the contest was established in 2012. In addition to the grants, winners will also receive an additional dollar amount in credit to use towards FedEx Office print and business services to help run their businesses, as well as packages designed to help them with website optimization, design thinking, social media, and print expertise. Specifically, the 2019 FedEx Small Business Grant Contest prize packages include:

       Grand prize: One (1) winner of $50,000, plus $7,500 in FedEx Office® print and business services

       Silver prize: One (1) winner of $30,000, plus $5,000 in FedEx Office print and business services

       Bronze prize: Eight (8) winners of $15,000, plus $1,000 in FedEx Office print and business services

"We know it's difficult for even the most promising of small businesses to grow and scale, especially at the beginning of their lifecycle" said Scott Harkins, senior vice president, Customer Channel Marketing at FedEx. "That's why we are proud to offer our top ten winners so much more than just the funds to help them grow their businesses. This year, our winners will receive much needed expertise and advice on some of the most fundamental and critical aspects of building a viable and sustainable business - and we will stay on with them as a trusted advisor as they take their businesses to the next level."

The 2018 contest garnered nearly 665,000 votes and attracted more than 7,800 candidates from across the United States. Grand Prize winner Rumi Spice, a small Chicago-based business that sources and brings to market premier saffron from the fields of Afghanistan, was founded by former Army officer Keith Alaniz and two friends who, while serving in the war-torn country, realized the need to provide economic alternatives to opium farming for the Afghan people. In the year since they took home the grand prize in the FedEx Small Business Grant Contest, Rumi Spice has used their winnings to greatly improve their supply chain logistics, as they transport the saffron out of Afghanistan and bring it to Chicago where it is then packaged and sent to Michelin star restaurants and consumers all over the US.

 Over the past seven years, 24,000 businesses have entered the contest in the United States alone. The contest has now grown from one country to eleven countries and the grant pool for the US contest has grown from $50,000 to $220,500 in total cash prizes.

The 2019 FedEx Small Business Grant Contest is open to U.S.-based for-profit small businesses that have less than 99 employees and have been operating for six months or more. To enter, participants must visit www.fedex.com/grantcontest and enter their contact information, write a short profile about their business and upload four photos of their business or product, including their logo. While not required, participants also have the option of submitting a 90-second "elevator speech" video to supplement their entry.

The contest entry period is open from February 19 to March 25, 2019, with voting to take place from February 27 to April 1, 2019.  Following a judging period, winners will be announced on April 29, 2019 at www.fedex.com/grantcontest.
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New Hampton Showcase of Homes

Posted: Mon, January 21, 2019

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Thanksgiving Garbage Pickup

Posted: Fri, November 16, 2018
Garbage pickup for the week of November 12th is as follows:
Tuesday's Residential will be normal (Nov. 20)
Thursday's Residential will be moved to Wednesday, Nov. 21st. Please have all materials out by 5:00am for collection. Happy Thanksgiving!
... [ Read More ]
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