Financial Assistance
The State of Iowa can support business growth through direct financial assistance
and tax incentives. The Grow Iowa Values Fund
(GIVF) is the state's premier financial assistance program designed to support innovation
and job growth. A variety of business development programs are available through
the Grow Iowa Values Fund as listed below:
Direct Assistance to a Company
Assistance is provided in the form of loans and/or forgivable loans, based in part
on job creation, capital investment, the ability to meet certain regional/county
wage standards, quality of employment, and economic benefits for the state and local
community. Applications are filed by cities, counties or community colleges on behalf
of eligible businesses.
- Grow Iowa Values
Financial Assistance Program — Serves as the funding source for projects
that are 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 Iowa a great place to do business.
- Demonstration
Fund — Provides financial awards up to $150,000 to encourage commercialization activities by small and medium-sized Iowa companies in the advanced manufacturing, biosciences, and information technology industries. The fund is designed to encourage product refinements, market planning and market entry activities of unique products to foster competitive, profitable companies that create high paying jobs and wealth in Iowa.
- Value-Added Agriculture
Component — Seeks to increase the innovative utilization of Iowa's agricultural
commodities
Infrastructure Assistance
- Infrastructure component — Designed to financially
assist capital-intensive infrastructure projects that create unique opportunities
for quality, high-wage jobs and demonstrate a statewide impact. Both Iowa communities
and new or existing businesses are eligible for this innovative program.
The Infrastructure component is designed to take a comprehensive approach to address
a wide variety of critical infrastructure needs. This program may also be used to
remediate contaminated sites that have potential development opportunities contingent
on the cleanup. Assistance is provided in the form of loans, forgivable loans and
cost indemnification agreements.
- Public Facilities Set-Aside (PFSA) — The
PFSA program provides financial assistance to cities with less than 50,000 in population
and to counties for public infrastructure improvements that enable businesses to
create new job opportunities. Projects that will create manufacturing jobs, add
value to Iowa resources and/or increase out-of-state exports will be given priority.
Eligible projects include adding or improving sanitary sewer systems, water systems,
streets, roads, and storm sewers.
Small Businesses & Entrepreneurs
- Entrepreneurial
Assistance — Financial capital may be available for early-stage and high
growth companies.
- Iowa Self-Employment (ISE)
— Helps qualified individuals with disabilities establish, acquire, or expand
a small business by providing technical and financial assistance
- State Small Business Credit Initiative Programs — The U.S. Department of the Treasury moved to support business lending in Iowa when it announced that the state would receive funding under the State Small Business Credit Initiative (SSBCI). Iowa's planned use of the SSBCI funds will help create new private sector jobs and spur additional small-business lending in the state.
- Targeted Small Business
Program (TSB) — Designed to create and expand minority- or women-owned
businesses through direct loans
Additional Programs
IEDA assistance extends beyond our department’s programs to those offered by other
Iowa departments, community/county programs and programs offered through the federal
government. Call us for more detailed information about how your company can qualify
for these innovative programs.
Phone: 515.725.3100 or 800.245.4692
E-mail:
business@iowa.gov