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The Iowa Lakes Corridor region strongly supports existing and prospective business and industry. Our communities, counties, utilities and organizations work cooperatively to find ways to assist companies and provide incentives for their expansion and location in the region.
In addition to several state and federal programs available to assist expanding and new business and industry, several tools are available locally in the Iowa Lakes Corridor region. Local and regional revolving loan funds are available throughout the Corridor including the Northwest Iowa Planning and Development RLF, the Estherville RLF, the Iowa Great Lakes Industrial Board, and the Storm Lake Area Development Commission RLF. Low interest or interest-free loans through Iowa Lakes Electric Cooperative or Corn Belt Power are also available. The Spencer Area Jobs Trust provides zero to low-interest loans or forgivable loans for existing and prospective companies that create new jobs in Spencer. These funds are often used in conjunction with the Iowa Department of Economic Development as local matching support for Grow Iowa Values Fund projects. The amount and terms of these loans would depend upon the specifics of your project and are subject to the approval of the governing bodies of these organizations.
Communities in the Corridor also provide property tax exemption as allowed by Iowa law over a five-year period.
Tax-increment financing is another tool that is available for projects locating within urban renewal districts in Corridor communities. Each community in the corridor has a different policy and approach when using TIF, contact the Iowa Lakes Corridor for more information at Click here to view email address