DeWitt and the State of Iowa offer an assortment of financial assistance programs to support companies in an expansion or relocation mode. The DeWitt Chamber & Development Company will work with you and evaluate programs available to your company at both the local and state levels to determine the best possible package for your project. Please contact us at 563-659-8500 to learn more about the following potential incentives, plus many others, available to your company.
Provides direct financial assistance and tax credits to qualifying businesses to offset the costs incurred to locate, expand and/or modernize. The direct financial assistance typically is in the form of a forgivable loan and a zero or low interest loan. The tax credits include an investment tax credit against your Iowa corporate income tax liability; a refund on construction-related sales tax; and an increase in the Iowa statutory research activities tax credit, which is refundable if you don’t have an Iowa corporate income tax liability.
This unique-to-Iowa program provides businesses expanding their workforce with new employee training. The program, made available through Iowa’s community colleges, is administered locally by Eastern Iowa Community Colleges. The program is funded through the new employees’ withholding taxes at no cost to the employee or the company.
Tax Increment Financing (TIF) may be available to qualifying businesses that build new facilities or substantially expand existing facilities. The City of DeWitt may refund a portion of the value added property taxes for a specified period of time.
The DeWitt Downtown Improvement District and the City of DeWitt has developed a Downtown Improvement Grant program. The purpose of this grant program is to promote economic development, promote aesthetic improvements and preserve the historical character within the downtown area. The goal of the program is to accomplish these objectives by providing financial incentives to beautify and improve commercial buildings located within the defined areas. These incentives are designed to assist in retaining the occupancy of commercial buildings and to promote the occupancy of vacant commercial buildings in Downtown DeWitt.
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