Business Incentives

Winneshiek County

Location –
With the historic downtowns and striving small and large businesses and real estate, it is no wonder why our county seat, Decorah, ranked on Forbes Magazine’s America’s Prettiest Towns in 2013 and has consistently been mentioned on other “Top Ten” lists ever since. Be sure to check out all of the community profile pages for more information.

Incentives –
Assistance is provided in the form of tax abatement, tax increment financing, revolving loans (Upper Explorerland Regional Planning Commission and Decorah Area Chamber of Commerce), all based in part on job creation, capital investment, the ability to meet certain wage standards, quality of employment, and economic benefits for the state and local community. Be sure to check out the community profile’s for specific community incentive programs.

State of Iowa

Doing Business in Iowa –
Iowa currently had the lowest cost of doing business, and offers businesses distinct operational advantages. These programs and others create a positive and profitable business environment, making Iowa the smart choice for your business.

Single-factor, non-unitary tax –
Iowa’s corporate income tax is a single-factor, nonunitary tax and based only on the percentage of total sales income within the state (Iowa manufacturer selling all its products outside Iowa pays no Iowa corporate income tax).

Federal Deductibility –
Iowa is one of only five states that offers Federal Deductibility. This allows 50 percent deductibility of federal taxes on corporate income tax in Iowa.

Iowa is a Right-to-Work State –
Under Iowa law, an employee is not required to join a union as a condition of employment. Management/employee relations are extremely positive in our area.

Unemployment Insurance –
At 1% Iowa has the lowest unemployment insurance rate of any state in the nation. This rate is given to all non-construction employees who do not have a prior employment history in Iowa.

Tax Advantages –
Iowa has eliminated the following tax burdens:
– No sales or use tax on industrial machinery/equipment/computers
– No sales tax on purchases of electricity or natural gas used directly in the manufacturing process
– No sales or use tax on computer/peripherals used in the processing or storage of data
– No property tax on manufacturing machinery/equipment/computers
– No tax assessment on personal property (includes corporate inventories of salable goods, raw materials and goods in process)

State Incentives –
There are many state incentives available for large and small businesses. Start by completing a Iowa Project Questionnaire and submit it to Stephanie Fromm, Executive Director for Winneshiek County Development.

There’s a lot to navigate, but Winneshiek County Development is dedicated to help you through it.