Incentives & Financial Assistance

The Butler-Grundy Development Alliance staff will work diligently and confidentially with prospective new employers and expanding existing businesses to put together a potential incentive package that is tailored to the specific needs and requirements of each project. In addition to working with the local community and/or county, we have a well-established relationship with our economic development partners at the Iowa Economic Development Authority, Iowa Area Development Group, Iowa Northland Regional Council of Governments, community colleges, utilities, and other entities to make sure all potential resources are considered for your project, including federal programs with the USDA and EDA. Please note that most incentive programs will need to be negotiated and accepted before construction is initiated.

Available Programs

Iowa Job Training Program

This award is based on projected employment payroll for up to 10 years. Businesses will receive reimbursement for some portion of the new employee’s wages during the training period. Other uses include: training material, skill assessment, travel expense, and contract training.

High Quality Jobs Program

This program’s funding is in the form of loans or forgivable loans. It can also include a state sales tax rebate on construction material, sales tax rebate on racking, and credits towards a portion of state corporate income tax. Awards are based on the quality of the created/retained jobs (i.e., employee wages, benefits packages, other factors).

Tax Increment Financing (TIF)

TIF typically comes in the form of property tax rebates on the taxable improvements over a period of years. Some localities have a pre-set number of years and percentage of taxes to be rebated or abated already established. Others may determine those components project by project based on factors such as the new tax base and jobs being created. Some government entities may use TIF to help finance their extension of new utilities, roads, or other infrastructure as part of the project. Again, this is up to the local government leaders and is considered based on the economic impact of the project along with other factors.

Low Interest Revolving Loan Funds

The following RLF programs are available to projects in Butler and Grundy Counties. In general, most RLF programs can be used to assist existing businesses, and new start-ups with acquisition of real estate, purchase of machinery and equipment, building improvements, and working capital.

Free Developed Land

Some communities provide land in their developed industrial parks at no cost or at a reduced rate. This varies greatly between communities and different factors are used to determine the amount of free or reduce cost available. This includes the new property taxes to be generated, new jobs to be created or retained, and the overall economic impact of the project.