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Small Business Information ~ Denison Iowa

ENTERPRISE ZONE: Businesses expanding or locating in Crawford County, named a certified Enterprise Zone by the Iowa Department of Economic Development, may receive the following benefits:

Property tax exemptions on all or part of the costs of improvements to land and buildings for up to 10 years.
An investment tax credit of up to 10% on corporate income taxes for investments on machinery and equipment, land, new and and existing buildings, and improvements to existing buildings.
Refunds of sales, services, or use taxes paid to contractors or subcontractors during construction.
A 13% research and development activities credit (refundable) on corporate income taxes.
Supplemental new jobs trainging withholding credit of 1 1/2% of the gross wages. This credit is in addition to, and not in lieu of, the withholding credit of 1 1/2% authorized for the Iowa New Jobs Training Program.

To receive benefits, businesses expanding or locating in Enterprise Zones must:

Create at least 10 full-time jobs, project-related jobs and maintain them for at least ten years.
Pay 80% of a standard employee medical and dental insurance plan or equivalent.
Pay 90% of average regional or county wage, whichever is lower ($7.50 per hour minimum).
Make capital investments of at least $500,000.00.
Not be a retail establishment.

REVOLVING LOAN PROGRAM:

The Revolving Loan Fund is used to encourage the development of new businesses and expansion of existing businesses in all of Crawford County. The monies available are based on job creation. Startups and or expansions are eligible for up to $100,000 - $10,000 per job created or retained - at a rate 1 1/2 to 4 points below prime rate. The RLF program is a gap-financing program. For more information call the Chamber and Development Council of Crawford County at (712) 263-5621.

CITY OF DENISON IOWA TAX ABATEMENT PROGRAM:

Qualify for local option five-year partial property tax exemption for new property and improvemnts made to existing property, 80% year one, 70% year two, 60% year three, 50% year four and 40% year five.

Chamber and Development Council of Crawford County is a non-profit organization working with various resources to help provide services and incentives to new and existing businesses in Denison and Crawford County. For more infomration contact the Chamber and Development Council office at (712) 263-5621.

Iowa Department of Economic Development-The state of Iowa offers a wide array of buisness financial assistance programs. These programs are designed to foster the growth and profitability of businiess expanding in the state of Iowa and to create quality job opportunities for Iowans.

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