Business Incentives to Start, Relocate, and Grow
Updated: August 2, 2023 | Posted: January 12, 2023
Allamakee County offers a variety of financial incentives to businesses:
Local Programs & Contacts
Business Planning & Consulting
Allamakee County Economic Development is a non-profit organization focused on improving the business climate in Northeast Iowa. Allamakee County Economic Development offers assistance to all Allamakee County residents with business planning, exploring the feasibility of a business idea, explaining funding opportunities and is all strictly confidential. Allamakee County Economic Development also provides workshops aimed at increasing efficiencies, technical assistance and discovering new markets and customers. To set up a one-on-one confidential appointment please call 563-568-2624, or email Val Reinke at allamakeecountyedt@gmail.com.
Revolving Loan Fund
Allamakee County offers a Revolving Loan Fund for start-up and existing business. This includes a low-interest loan up to 30% of the total project for a maximum loan of $40,000.00. Funds to be utilized for the purchase of real estate, construction, machinery, building rehabilitation and working capital. For more information, please click below to view the application.
- Allamakee County Economic Development
Revolving Loan Fund (Gap Financing)
Val Reinke, allamakeecountyedt@gmail.com, 563-568-2624 - Allamakee Clayton Electric Cooperative
Revolving Loan Fund
Brenda Hackman, bhackman@acrec.coop
Information - Upper Explorerland Regional Planning Commission
Revolving Loan Fund
Diana Johnson, djohnson@uerpc.org
Information
Historically Underutilized Business Zone
Allamakee County is categorized as a HubZone Area. The Historically Underutilized Business Zones (HUBZone) program helps small businesses in rural areas gain preferential access to federal procurement opportunities. This provides additional opportunities for businesses located within Allamakee County.
Postville Urban Revitalization Plan/TIF
City of Postville
Darcy Radloff, postCityclerk@neitel.net
Main Street Lansing Program
City of Lansing
Historic District Program
Andy Kelleher, director@mainstreetlansing.com
Waukon Urban Revitalization Plan
City of Waukon
Sara Snitker, cityclerk@cityofwaukon.com
State Wide Programs
State of Iowa
- Program tied to number of employees, wages and benefits.
- Program tied to tax credits for improvements made to property.
- Program tied to historic structure.
- Program tied to derelict building.
- This is not a complete listing.
USDA
Program tied to value-added agriculture.
Iowa Economic Development Authority
The Iowa Economic Development Authority (IEDA) offers an array of financial assistance programs. From programs that offer direct assistance to a company such as the Grow Iowa Values Fund and the Value-Added Agriculture Component Program. These awards are based on factors such as job creation, employee wage rates, competition with other Iowa firms, and the impact of the project on the economy. The funds may be given as a forgivable loan, low-or-no-interest loan, principal or interest rate buy-down on a loan. There are many additional programs for special needs based on minority ownership or employment, self-employment, and other needs.
State of Iowa New Jobs and Income Program (NJIP) Assistance to increase job training for value-added production or service in Iowa through extended property tax abatement and additional state corporate income tax credits. Qualify by creation of at least 50 new production jobs with a median wage that changes quarterly plus a $3 million capital investment.
The State of Iowa also offers Job Training Program Assistance in the form of reimbursement of trainees’ and trainers’ wages, travel, materials. To be used as job training only. Qualifications are based on the number of jobs created and annual payroll over 3 years.
Please contact the Allamakee County Economic Development office for a confidential business consultation on which programs would best fit your business venture.
Iowa Department of Transportation
The Iowa Department of Transportation has funding available for rail and road improvements.
State of Iowa
The State of Iowa has no Sales Tax or Use Tax on manufacturing machinery and equipment purchases. There is no Personal Property (Inventor) Tax (meaning salable goods, raw materials and goods-in-process). There is also no Property Tax on new manufacturing machinery and equipment. There is Corporate Income Tax and exemptions. Iowa’s Single Factor Income Tax taxes only net income from sales to customers.
Right-to-work State
Iowa is a right-to-work state. An employee can not be required to join a union or pay dues or fees to any labor union.
This is not a complete listing.
