Local Incentives

The Iowa New Jobs Training Program (260E) is an incentive program for companies expanding or relocating to a new facility in the state of Iowa. Participation in the program allows employers to be reimbursed for a portion of training expense and wages for new jobs created in the state.

The 260E program is one of the easiest and most beneficial incentive programs from the state of Iowa. The community colleges across the state administer the program and over 300 companies in Kirkwood’s seven county region have participated in the program.

Eligible industries: manufacturing, processing, assembling products, warehousing, wholesaling, or conducting research and development as well as businesses engaged in the provision of services that have customers outside of Iowa.

Iowa New Jobs Training Program (260E) (Kirkwood Community College)

Our utility partners, Alliant Energy and Eastern Light & Power, offer great rebate programs that offer significant savings for business owners.  Follow the links below to learn more about some of the programs and if your business or project qualify.

Eastern Iowa L & P Rebates

Alliant Energy Rebates

There are a number of locally controlled low interest revolving loan funds that are available to companies looking for the final piece of gap financing for an expansion project or equipment acquisition.  These include:

Eastern Iowa Light & Power

The Eastern Iowa Light & Power Cooperative created the Community and Economic Development Revolving Loan Fund to improve the quality of life in its member cooperatives rural areas by contributing to long-term improvement in the local economy.

ECICOG Revolving Loan Fund

The ECICOG RLF is a loan pool established by the East Central Iowa Council of Governments to assist new and existing businesses within our six county region develop and expand. Funds are used in conjunction with local lenders to serve as gap financing for proposals, in which the lender serves as the primary source of funding. More information is available here.

Industrial Property Tax Exemption

Companies with qualifying new and expanded building investments in the City of Washington may qualify for the State of Iowa’s industrial property tax exemption program. Actual value that is added to industrial real estate may be eligible for a partial exemption from real estate taxes graduated over a period of five years.

Tax increment financing is the most versatile and common form of financial assistance that is available to companies looking to expand or build a facility in our community.  While not always the best solution, TIF is available to businesses that generate new property taxes through either new construction or substantial renovation of existing facilities.

For example, upfront capital costs, particularly land acquisition, are a major hurdle for companies to clear. Land equity financing limits acquisition costs and provides companies with land with little up-front capital.  This allows companies building a new facility to acquire a site and get a free and clear title to the property.  This land is then able to be leveraged to secure further private project financing.  This tool would usually be reserved for larger development projects and must first qualify for tax Increment financing support.