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

DEB EL Food Products LLC

Posted: Tue, May 21, 2019
Great afternoon meeting the owners of DEB EL Food Products LLC.  DEB EL Food Products LLC is the new company taking ownership of the former Sparboe Foods facility.  Thank you for your investment in our community!  Stay tuned for more information to be released soon.
... [ Read More ]

TRIBE Trail Lands $100,000 Grant

Posted: Thu, May 9, 2019

The TRIBE Trail's second phase is definitely a go after committee members learned last week that the Wellmark Foundation has awarded the trail a $100,000 grant.

That means the TRIBE Trail Committee has enough money to go ahead with the bidding process for Phase II of the trail that will run from Logan Street to Linn Avenue and cost about $625,000 to build.

Committee member Megan Baltes said the committee had used the Wellmark grant in its preliminary calculations on how much money it had raised so "this is really big for us to have it secured and we're very appreciative of the Wellmark Foundation's belief in our project."

Along with grants from the Iowa Department of Transportation, the Black Hawk Gaming Association, the Chickasaw County Community Foundation and Wellmark, the committee has also received about $249,000 in private donations to help fund Phase II of the trail that will eventually connect trails in Mikkelson Park and the city's west-side Industrial Park.

Because the Iowa Department of Transportation's grant comes from its Transportation Alternative Program (TAP) that is funded by federal dollars, the committee must bid out Phase II of the project.

Baltes and fellow TRIBE Trail Committee member Rick Kramer expect to bid the project in June and work will begin sometime this August and be completed by the fall.

Phase I of the TRIBE Trail runs from Mikkelson Park through the Boy Scout Playground, down Fourth Avenue and through Garnant Park and was built in the fall of 2017.

Article courtesy of: Bob Fenske, editor@nhtrib.com
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Summer Employment Opportunities for College Students

Posted: Tue, May 7, 2019
Summer Employment Opportunities for College Students

Leisuretime Golf Cars -  Sales Representative.  This position would require a person with an outgoing personality that is engaging.  It would be a commission based part time position.  Please contact Nick Noehl at Leisuretime 641-394-3944.
 
Linn Haven Rehab & Healthcare - Housekeeping, Laundry, Dietary Department and Certified Nursing Assistants.  They will hire for summer help in all areas.  Please apply at Linn Haven (530 S. Linn Ave). 

New Hampton Transfer and Storage - Warehouse and office position.  Please apply at NH Transfer (1970 North Linn Ave) or email info@nhwarehouse.com and they can email you an application.

NH Nursing & Rehab - Part-time dietary aide.  Must be 16 years of age.  Email Lori Hanson (lhanson@nhnursingandrehabcenter.com) for more information or stop in at the Nursing home for an application.

NH Park and Rec - Job applications available at their office. Various positions. Please fill out an application and drop it off at the Park and Rec office or call 641-394-5464.

Milkhouse Candles - Full-time production floor positions available.  (Must be 18) Come work with an amazing team and go home smelling good everyday!  Hours are Monday-Friday, 7-3.  Please apply at:  http://www.milkhousecandles.com/team

Croell, Inc. - Dump Truck Drivers.  Full time position.  Requires a Class B CDL.  This position is a traveling position, typically Monday thru Friday.  To apply, please contact Jordan at 641-394-6789 or apply online at www.croell.com/careers/positions

Five Star Coop - Part-time help this summer at the Hardware Store.
The positions available are Warehouse Assistant and Retail Associate.  After school hours until 6:00 pm, and rotating Saturdays 7:00 a.m. - 2:00 p.m.  More hours available during the summer.
Competitive wages; Candidates can apply in person at Five Star Cooperative Hardware, or online at https://www.fivestarcoop.com/Careers

... [ Read More ]
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