Housing Development

Housing News

Workforce Housing Tax Credits

IEDA awards $35 million in credits to Workforce Housing Tax Credit projects including three in Storm Lake

Iowa Lakes Corridor and Tyson Foods announce $150,000 housing project partnership

Workforce Housing Tax Credits assist construction or rehabilitation of housing in communities with Workforce Housing needs. This program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on projects using abandoned, empty or dilapidated properties.

Total program benefits limited to $1 million per project
Tax incentives include a refund of sales, service or use taxes paid during construction
Developers may receive a state investment tax credit of up to 10% the investment directly related to the construction/rehabilitation of the housing.
Tax credit is based on the new investment used for the first $150,000 of value for each home or unit
Tax credit is earned when the home or unit is certified for occupancy and can be carried forward for up to five additional years or until depleted, whichever comes first

MWI Components
US Senate
Midwest Mechanical
Doll Distributing
Godbersen Metal Works
Cannon Moss Brygger Architects

Thoughts on the Corridor

"Our experience with the Corridor has been one of genuine partnership. The team demonstrates true interest in community growth by asking questions to provoke thought..."

— Philip Ramstack, MWI Components

Thoughts on the Corridor

"The Iowa Lakes Corridor serves as an incredible conduit between business, economic development, and government. Their tireless advocacy of their region and member communities (and their diverse needs) helps to keep the Lakes region at the forefront and top-of-mind in my work."

— Kolby DeWitt, Outreach Director, US Senate

Thoughts on the Corridor

"The Iowa Lakes Corridor Development Corporation has always been the go-to place to find ways of helping current business and future business. There isn’t much they will not do to help, including showing property or finding housing for new employees that come to work in the area. The staff at the Corridor is top notch and very caring."

— Donavon Wunschel, Midwestern Mechanical/Spencer City Council

Thoughts on the Corridor

"After our initial (BRE) meeting, Joanne and I started discussing challenges that we were facing and warehouse space was at the top of our issues. She asked me if we had interest in taking a look at the Daily Reporter building as they were wanting to possibly downsize their location. Jo did all of the leg work in arranging a meeting between Doll’s and the Daily Reporter. She even was present the day that we looked at the facility. Basically, without Jo, we could of possibly never been told that a solution to our warehouse needs was 4 blocks away! Jo checked in several times throughout the process and was always asking if there was anything else she could help with. We are very happy with our purchase and the growth opportunities that this additional space will provide us. We can’t thank you enough!"

—Jason Halverson, Doll Distributing

Thoughts on the Corridor

"The Iowa Lakes Corridor has been a valuable resource as we have gone from a startup company to now becoming an established local business, their entire team is very knowledgeable and great to work with."

—Jim Smith, Godbersen Metal Works

Thoughts on the Corridor

"This is a great homebase in Northwest Iowa with the ability to reach a number of communities. The community is positive about growth and values quality spaces. This is a great place to raise a family and be a part of a community that cares about people."

—Adam Van Gorp, CMBA Architects