ADA Federal Tax Credit
This federal tax credit was created to help small businesses cover ADA-related eligible access expenditures. A business that for the previous tax year had either revenue of $1,000,000 or less or 30 or fewer full-time workers may take advantage of this credit. This federal tax credit can cover 50% of the eligible access expenditures in a year up to $10,250 (maximum credit of $5000). In addition, the tax deduction is available to all businesses with a maximum deduction of $15,000 per year for the other costs the credit doesn’t cover. The tax deduction can be claimed for expenses incurred in barrier removal and alterations.
Brownfield/Grayfield Tax Credit Program
State and federal incentive programs exist that can make the purchase and redevelopment of a Brownfield site a good economic opportunity for many businesses. These incentive programs exist because Brownfield redevelopment can promote general economic health by reducing environmental hazards, cleaning up neighborhood eyesores, creating jobs, boosting tax revenue, and so on. Brownfield sites are abandoned, idled or underutilized industrial or commercial properties where real or perceived environmental contamination prevents productive expansion or redevelopment. Examples of Brownfield sites include former gas stations, dry cleaners, and other commercial operations that may have utilized products or materials potentially hazardous to the environment Grayfield sites are industrial or commercial properties that are vacant, blighted, obsolete, or
otherwise underutilized. A grayfield has been developed and has infrastructure in place but the
property’s current use is outdated or prevents a better or more efficient use of the property. Iowa law
defines a grayfield as having improvements and infrastructure that are at least 25 years old and one
or more of the following conditions exists:
• Thirty percent or more of a building located on the property that is available for occupancy has been vacant or unoccupied for a period of twelve months or more.
• The assessed value of the improvements on the property has decreased by 25% or more.
• The property is currently being used as a parking lot.
• The improvements on the property no longer exist.
Iowa Community Cultural Grants (ICCG) Job Creation Grant
The Iowa Department of Cultural Affairs is committed to encouraging cultural growth and
development throughout the state. Job Creation Grants provide funds to support the creation of
quality jobs for Iowans that contribute to the cultural vitality of Iowa. Funding for Job Creation Grants
is made possible through an appropriation from the Iowa Legislature to the Iowa Community Cultural
Grant program. Awards range from a minimum of $1,000 to a maximum of $10,000. Job Creation
Grants support salaries, wages and job benefits for current Iowa residents. Employment must be tied
to a cultural project (see glossary for definition) and must be a new, permanent full or part-time
position or a new contract position. New, permanent full or part-time positions must be paid at least
IowaMicroLoan has created a fund to provide a source of capital for microentrepreneurs who are
seeking a direct loan of $5,000 to $50,000 or a co-financing arrangement of up to $150,000.
Applicants must have applied for a loan at a traditional credit source and have been denied to be
eligible to apply for IowaMicroLoan.
Iowa Source Link
IASourceLink is where business begins in Iowa. Their mission is to help small businesses in Iowa grow and succeed. IASource Link provides firms with free, easy access to the help they need - when they need it.
Paint Iowa Beautiful
Keeping up the appearance of our buildings and facilities is an important component of viable
communities. Well-maintained and painted buildings reflect pride in our communities. Through a
partnership with Diamond Vogel Paint of Orange City, Iowa groups can receive paint for community
enhancement projects. More than 5,000 gallons of paint have been donated to community groups
through the Paint Iowa Beautiful program.
Small Business Credit Initiative
The Iowa Small Business Loan Support Program (ISBLSP) aids Iowa entrepreneurs and small
businesses in their efforts to access capital for business purposes including startup costs, working
capital, business procurement, franchise fees, equipment, inventory, as well as the renovation or
tenant improvements of an eligible place of business that is not for passive real estate investment
Small Business Linked Investments for Tomorrow (LIFT) Program
The Small Business Linked Investments Program will inject capitol into small businesses owned and operated by Iowa residents. One-half of the moneys invested will be available for qualifying small businesses which are 51 percent or more owned, operated, and actively managed by one or more women, minority persons, or persons with disabilities.