Economic development in Cedar Rapids, Iowa has a longstanding reputation as a strong, supportive business environment, with community leaders whose flexible and supportive attitudes have helped local companies succeed. That’s why we’ve long been a hotbed for innovative entrepreneurs and an ideal location for companies from small businesses to global enterprises. (The fact that our municipal government is known for fiscal responsibility and predictable taxes helps, too.)
Local leaders work closely with Linn County and the State of Iowa to streamline processes and permitting, and to create incentive programs that reward companies for making investments. Depending upon a company’s specific needs and plans, available programs include small business assistance, EB-5, tax increment financing (TIF), workforce training programs, redevelopment tax credits, innovation funding, corporate tax credits, research activities credits, and other business incentives. State programs such as the Iowa Apprenticeship Program and the Iowa Industrial New Jobs Training Program help companies prepare workers to meet their needs.
We’re proud of our innovative approaches. For example, we have several Revolving Loan Funds and micro loans that give entrepreneurs and small businesses access to the capital they need to expand and offer new services. And Iowa offers a Renewable Chemicals Production Tax Credit program -- the first of its kind in the nation -- that supports the development of biomass as feedstocks for renewable chemical production.