Iowa is Working Tim Whipple General Counsel Iowa

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Iowa is Working Tim Whipple General Counsel Iowa Economic Development Authority

Iowa is Working Tim Whipple General Counsel Iowa Economic Development Authority

Governor’s Growth Agenda

Governor’s Growth Agenda

New Economic Development Model

New Economic Development Model

The High Quality Jobs Program Business Development Tax Credits

The High Quality Jobs Program Business Development Tax Credits

Program Description § The Program provides tax incentives to businesses that make capital investments

Program Description § The Program provides tax incentives to businesses that make capital investments and create jobs in the state. § Brief Legislative History § New Jobs and Income Program (NJIP) created in 1995 § In 2005, NJIP changed and renamed High Quality Job Creation Program (HQJC) § In 2009, HQJC amended again and renamed High Quality Jobs Program

Core Eligibility Requirements § An engaged local partner (for projects larger than $10 million)

Core Eligibility Requirements § An engaged local partner (for projects larger than $10 million) § Cannot be a relocation from one Iowa community to another § Must meet job creation/retention requirements and wage threshold requirements § Must provide sufficient benefits package § The fiscal return for the state must justify the amount of incentives § Cannot be a retail business or a business with a history of violations of the law § IEDA must consider the overall quality of the project before making the award

Results Total Capital Investment: $9, 026, 505, 425 Iowa Economic Development Authority – Business

Results Total Capital Investment: $9, 026, 505, 425 Iowa Economic Development Authority – Business Assistance Awards, January 2011 through June 2014

Project Industry Sectors and Breakdown

Project Industry Sectors and Breakdown

Projects Awarded by

Projects Awarded by

National Recognition § U. S. Chamber of Commerce Foundation’s Enterprising States 2014 study §

National Recognition § U. S. Chamber of Commerce Foundation’s Enterprising States 2014 study § Top 10 States for Economic Performance -- #8 Iowa § ICAIncentives’ “Measuring the Quality of Incentive Programs” study § “Best Practice” States identified that perform well, combining effective tax incentive program evaluations with openness – Iowa among the six

Brownfield/Grayfield Tax Credits New Additions for 2014

Brownfield/Grayfield Tax Credits New Additions for 2014

Program Description § The Program provides tax incentives to for the redevelopment of brownfields

Program Description § The Program provides tax incentives to for the redevelopment of brownfields and grayfields. § New features: § Abandoned public buildings eligible § Refundability for nonprofits § Award amounts negotiated by board § Transferrable credits § $10 M available

Workforce Housing Tax Credits New Program for 2014

Workforce Housing Tax Credits New Program for 2014

Program Description § The Program provides tax incentives to housing developers – NOT TIED

Program Description § The Program provides tax incentives to housing developers – NOT TIED TO ZONES. § EZ Program REPEALED. § Eligibility: § § A grayfield or brownfield site. The repair or rehab of dilapidated existing housing stock. An upper story project. New construction IF in a community with demonstrated workforce housing needs. § Cost per unit doesn’t exceed $200 K, or $250 K for historic rehab. § Transferrable credits § $20 M available

Iowa’s Public Entrepreneurial Funding Continuum

Iowa’s Public Entrepreneurial Funding Continuum

Innovation Funding § Since January 2011, IEDA has supported start-up projects with innovation funding

Innovation Funding § Since January 2011, IEDA has supported start-up projects with innovation funding equaling: $14, 984, 000 § Program Sources § $9. 215 million (Innovation Fund – SSBCI) § $ 575, 000 (i 6 Challenge Grant Fund) § $5. 194 million (Demo Fund)

CJ Bio America Fort Dodge Iowa Fertilizer Company Lee County Valent Biosciences Osage Rail.

CJ Bio America Fort Dodge Iowa Fertilizer Company Lee County Valent Biosciences Osage Rail. One Clinton

Small Business § IASource. Link. com § A statewide resource and economic development tool

Small Business § IASource. Link. com § A statewide resource and economic development tool for entrepreneurs and small businesses across Iowa and for those considering Iowa for a business location § Partnership between IEDA and University of Northern Iowa’s My. Entre. Net § What is it? § Resource Navigator – connects entrepreneurs and small businesses with resource providers across Iowa § Statewide Events Calendar – comprehensive listing of networking, educational and training opportunities taking place across Iowa § Business Concierge – personalized assistance with marketing demographics, trends and resources § Business Licensing – customized help with identifying necessary business registrations and licenses § Information Source – webinars, e-newsletter, blogs and resources offered on timely topics

Workforce Challenges

Workforce Challenges

Education & Workforce Training Initiatives § § § Certification & credentialing of workforce –

Education & Workforce Training Initiatives § § § Certification & credentialing of workforce – NCRC Skilled Iowa Expand Apprenticeship Programs STEM Immigration Reform Home Base Iowa Military Recruitment Effort

Home Base Iowa § A new non-profit, private-public partnership that will recruit veterans and

Home Base Iowa § A new non-profit, private-public partnership that will recruit veterans and active duty service members for private-sector job opportunities in Iowa § Dedicated Staff – Kathy Anderson, Project Manager § Website – www. homebaseiowa. org § Comprehensive source for job services available to veterans in Iowa § Marketing outreach: § § National advertising In-person outreach Social media campaign Military publications § Legislative Changes: § § § Military Pension Income Tax Exemption Increases Military Homeowner Assistance Permissive Veteran Preference in Employment Streamlines Occupational Licensure Automatic in-state tuition for veterans, spouses and dependents

2014 Legislative Workforce Initiatives § STEM Internships § Funding to support internships in science,

2014 Legislative Workforce Initiatives § STEM Internships § Funding to support internships in science, technology, engineering and mathematics § The program will fund 400 interns at up to $5, 000 each, allowing employers to claim $1 for every $2 it pays interns § Apprenticeships § Expansion of the 260 F job training program would triple the amount of state funding allocated for apprenticeships § Support is increased from $1 million annually to $3 million by providing additional funds and reforming and streamlining administration of the program

Development Ready Communities § Freight Network Optimization Strategy § Sustainability § Certified building sites

Development Ready Communities § Freight Network Optimization Strategy § Sustainability § Certified building sites § Quality of life initiatives § Arts and Culture § Connect Iowa § Main Street Iowa § Workforce Housing

Certified Site Program § Announced the first-round certifications § Dexter, Fort Dodge, Iowa Falls

Certified Site Program § Announced the first-round certifications § Dexter, Fort Dodge, Iowa Falls and Van Meter

Community Development Program Overview

Community Development Program Overview

Community Development Block Grant (CDBG) § Iowa receives approximately $21 million per year from

Community Development Block Grant (CDBG) § Iowa receives approximately $21 million per year from HUD to: o Assist low and moderate income communities to preserve and develop basic infrastructure and community systems o Promote owner occupied housing rehabilitation to low and moderate income homeowners o Support economic development activities that benefit low and moderate income persons through job creation/job training

Community Development Block Grant (CDBG)

Community Development Block Grant (CDBG)

Community Development Block Grant (CDBG) o Most of Iowa’s CDBG programs accept applications on

Community Development Block Grant (CDBG) o Most of Iowa’s CDBG programs accept applications on an annual basis. o Applications are submitted online through Iowagrants. gov o Applicants must be units of local government (cities less than 50, 000 & counties) o More information on Iowa’s CDBG programs can be found here: http: //www. iowaeconomicdevelopment. com/Communi ty. Development/CDBG

Main Street Iowa New Director – Jim Engle § Net business gain in MSI

Main Street Iowa New Director – Jim Engle § Net business gain in MSI districts occurred in all 26 years of the state Main Street program § 3, 800 business starts, expansions and re-locations § Sales tax collections from net new businesses in MSI districts is 48 times the state appropriation to fund program § Added three new Main Street Communities in 2014 § Newton, Avoca, Guthrie Center § $1 million Challenge Grant funding available to MSI communities

Iowa is Working Tim Whipple General Counsel Iowa Economic Development Authority

Iowa is Working Tim Whipple General Counsel Iowa Economic Development Authority