2017 Spencer Comprehensive Land Use Plan

Spencer, Iowa  2017  Comprehensive Plan

9. Iowa Lakes Electric Cooperative or Corn Belt Power RLF – The Iowa Lakes Electric and Corn Belt Power offer low interest or interest free loans in their respective service territories for new business or industry development. 10. Spencer Municipal Utilities RLF – The Spencer Municipal Utilities (SMU) offers low interest or interest free loans to assist qualifying community and economic development projects in Spencer and within the SMU service area. 11. High Quality Jobs Program (Iowa) – The High Quality Jobs Program provides qualifying businesses tax credits and direct financial assistance to offset some of the costs incurred to locate, expand or modernize an Iowa facility. 12. New Jobs Tax Credit (Iowa) – The Iowa New Jobs Tax Credit is an Iowa corporate income tax credit and is available to companies that enter into a New Jobs Training Agreement and expand their employment base by ten percent. 13. Job Training Assistance - Several Federal and State programs are available to assist industries in training new employees, as well as retraining workers. 14. Innovation Fund Tax Credit (Iowa) – This program was created to stimulate venture capital investment in innovative Iowa businesses. Certified Innovation Funds make investments in promising early-stage companies that have a principal place of business in Iowa. 15. Brownfield/Greyfield Tax Credit Program (Iowa) – This program offered through the State of Iowa offers qualifying projects tax credits of up to 24% for qualifying costs of a Brownfield project and 30% if the project meets green building requirements. “Greyfield” projects are also included in the tax credit program. 16. Grow Iowa Values Financial Assistance Program (GIVFAP) - This State program serves as the funding source for projects focused on job creation or retention, value-added agriculture, and entrepreneurial efforts. This program, combined with Iowa’s nationally recognized business climate, tax incentives and proactive state government make the City of Spencer, the Northwest Iowa Corridor and the State of Iowa a great place to do business. 17. Iowa New Jobs and Income Program - This program provides financial assistance to new and existing companies creating new employment positions. Eligible business may new, expanding their Iowa workforce, or relocating to the State. Employees qualifying for this program must fill newly created positions and be subject to Iowa withholding tax. 18. Iowa Capital Access Program – This program assists Iowa businesses secure the financing they need to launch, retain, or expand business operations in Iowa.

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NW Iowa Planning & Development