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Business Incentives for Growth
investment tax credit
local property tax exemption
refund of sales tax paid on construction materials
The Business Incentives for Growth (BIG) program helps qualifying businesses offset some of the costs of locating, expanding or modernizing a facility in Iowa. Offered by the Iowa Economic Development Authority (IEDA), BIG supports growth in key industries: advanced manufacturing, bioscience, insurance and finance, and technology.
People
Description
Projects must involve a capital investment such as building construction/remodeling, long-term lease costs (minimum 10 years) or depreciable assets.
To be considered, projects should demonstrate clear economic impact in Iowa, such as:
To be considered, projects should demonstrate clear economic impact in Iowa, such as:
- Working with a high or growing number of in-state suppliers
- Diversifying Iowa’s economy
- Operating in an industry with few in-state competitors
- Creating new jobs or raising wages/skills for existing workers
- Increasing productivity and competitiveness through smart technologies (i.e., automation, robotics, Internet of Things (IoT), additive manufacturing, augmented reality and cybersecurity — often called Manufacturing 4.0)
- Contributing to the state’s gross domestic product
- Adding product lines or services, entering new markets or customer segments, or scaling production and operational capacity.
