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Frontline: Incubators Help Startups to Grow and Succeed

Dale D. Buss, Staff Editor, Area Development (Q1 2016)
Startup fever is exploding across America, as a slow-growth economy, corporate job cutbacks, and the work ethos and expectations of the burgeoning millennial generation reshape the business landscape. More

U.S. Legislative, Incentives, & Economic Development Policies Update

Jason Hickey, President, Hickey & Associates, LLC (Q1 2016)
Growing companies need to be aware of the many changes states are making to their incentives policies. More

Regional Report: Industrial Diversification Helps Midwest Meet Today’s Economic Challenges

Dale D. Buss, Staff Editor, Area Development (Directory 2016)
The largely Midwest-based automotive is humming along to record sales and hauling hundreds of companies in the region along with it while technology companies have begun to warm up to the talent and work ethic that resides in America’s heartland. More

A Win-Win for Veterans & Companies Requiring Skilled Workers

Dan Emerson (Workforce Q4 2015)
Government and corporate initiatives are helping companies to utilize the skills of returning veterans to fill their need for qualified workers. More

Assessing a Location’s Workforce

Keith Gendreau, Consulting Manager, Global Consulting Group, Cushman & Wakefield (Workforce Q1 2015)
Every labor market is unique. Evaluating a region’s labor suitability for a new or expanding operation should consider many factors beyond population size and unemployment rates. Understanding the interconnectivity of topics pertaining to competitive demand, pay practices, attrition, applicant flow/quality, geographic site positioning, union activity, benefit offerings, and training resources is important and will better inform a location commitment decision. More

Veterans: A Natural Fit to Close the Skills Gap

Dan Emerson (Workforce Q1 2015)
National, regional, and corporate initiatives are helping to connect those leaving the military, who need careers, with U.S. employers, who need skilled workers. More

Regional Report: Advanced Industry Clusters Fueling Growth in the Midwest States

Mark Crawford (Directory 2015)
Economic growth in the Midwest was steady in 2014, thanks to solid performances by the agriculture and manufacturing sectors, especially transportation equipment. The economy also got a boost from the surging energy sector, led by oil-shale production in Ohio, which improved sales for supporting industries like sand, chemicals, and steel drill pipe made in Midwestern steel plants. More

Securing Incentives With a Well-Paid Workforce

Robert Foley, Manager, Global Location & Expansion Services, KPMG LLLP (Q4 2014)
As a growing number of states augment their business incentives with Quality Jobs programs, manufacturing, technology and other high value-add companies are well positioned to potentially reap significant and often enhanced tax and non-tax benefits. More

IOWA at a glance

POPULATION: 3,090,416 (2013)

LABOR FORCE: 1,671,300 (2013)

RIGHT TO WORK: Yes

TRADITIONAL INDUSTRIES:Value-added agriculture, manufacturing

EXPANDING INDUSTRIES: Renewable energy, information solutions, financial services/ insurance, advanced manufacturing, biosciences

COLLEGE GRADUATES: (Age 25 and over) 26.4%

BASIC BUSINESS TAXES:
Corporate Income Tax: Imposed on net income from sales within Iowa after deducting 50 percent of federal corporate income tax; rates are 6 percent on the first $25,000 or any part thereof; 8 percent on the excess over $25,000 but less than $100,000; 10 percent on the excess over $100,000 but less than $250,000; and 12 percent on the excess over $250,000

Sales Tax: 6 percent on transactions involving the transfer, exchange, or barter of tangible personal property on certain enumerated services and gross receipts from the sale of optional service of warranty contracts; communities and schools may impose a local option sales tax.

Use Tax: 6 percent

Property Tax: Manufacturing machinery and equipment, as well as computers used to process data, are exempt from taxation; pollution-control equipment is also exempt. Iowa does not charge tax on personal property

BUSINESS INCENTIVES:

High Quality Jobs Program(HQJP)

Economic Development Set-Aside Program - EDSA (loans, grants)

Iowa Demonstration Fund (prototype development)

Public Facilities Set-Aside Program - PFSA (infrastructure improvements)

Federal SBA direct loans and guaranteed loan programs

Export Trade Assistance Program

TAX CREDIT PROGRAMS:

• High Quality Jobs Program (HQJP)

Iowa New Jobs Training Assistance

Tax exemptions for industrial property

Tax credits for new employees and research & development

Local tax increment financing

Principal Manufacturing industries

  • Food
    24.0%
  • Chemicals
    18.9%
  • Machinery
    16.9%
  • Fabricated Metal Products
    5.6%
  • Computer & Electronic Products
    5.1%
  • Motor Vehicle Products
    5.1%
  • Plastics & Rubber Products
    4.2%
  • Other Manufacturing Industries
    20.2%
Source: U.S. Bureau of Economic Analysis