Special incentive programs may be available to any new or growing business prospect locating in Clayton County.
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| Federal Incentives |
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| USDA Rural Development |
A Business and Industry Loan Guarantee program that has $250,000 targeted to development within Clayton County. Low interest loans can be made up to $10 million per borrower. Eligible borrowers include individuals, public and private organizations. There are no size restrictions on the business. |
Work Opportunity Tax Credit
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WOTC is designed to help move people from welfare into gainful employment and obtain on-the-job experience. It joins other tax credits, education, and job training programs that help American workers with barriers to employment prepare for good jobs; ease their transition from job to job; benefit from the creation of effective regional economic development strategies; and create high performance workplaces.
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| Iowa Incentives |
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| Federal Tax Deduction |
50% deductibility of federal taxes from Iowa corporate income tax. Single Factor Corporate Income Tax – Iowa’s tax is based only on the % of total sales income from the state.
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| New Jobs Tax Credit |
Iowa corporate income tax may be reduced or eliminated by the New Jobs tax credit.
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| Grants and Loans |
Available for economic development projects which create Iowa jobs, proceeds may be used to purchase land, building machinery, inventory and equipment.
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| Iowa Industrial New Jobs Training Program |
A total training program, specifically designed to suit a company’s needs and may reimburse up to 50% of the salaries of trainees of new, relocating or expanding industries.
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| Local Incentives |
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| Clayton County Enterprise Zone |
Encourages communities to target resources in ways that attract productive private investment and positive economic impact for residents. Benefits of the Clayton County Enterprise Zone.
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| Local Utilities |
Local Utilities work closely with the communities of Clayton County to assist existing and prospective industries. Their participation in projects is driven by the utility load that prospective industries will generate.
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Upper Explorerland Regional Planning Commission Loan Programs
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Economic development loans for new and/or expanding businesses and industries; the Revolving Loan Fund and Intermediary Relending Programs can be utilized. |
Clayton County 's Revolving Loan Fund Program
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Economic development loans for new and/or expanding businesses and industries; |
| Industrial Tax Abatement |
Five year, graduated property tax exempt on value added, up to 98%.
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| Tax Increment Financing - TIF |
A very flexible tool which allows the city to use the increased property tax dollars generated from new development to assist a company. This flexible tool can be used for such things as, but not limited to, land acquisition, machinery and equipment, construction, interest buy downs and local matching funds.
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| Historically Underutilized Business ZONE |
For a competitive advantage on selling to the gov. you need to be in a HUB Zone (Historically Underutilized Business ZONE) . The Federal Government, is required to purchase 3% of its federal budget from businesses located in a HUB Zone. To be registered as a businesses there is no cost, just a few computer clicks and meeting the criteria. |
