Iowa & Federal Resources for Economic Development

Iowa Economic Development & Finance Authority

• IEDA Business Development Programs – A portal to all financial and technical assistance programs available for businesses through the Iowa Economic Development Authority.
• IEDA Business Incentives for Growth (BIG) - Provides qualifying businesses with assistance to offset some of the costs incurred to locate, expand, or modernize an Iowa facility. Eligible industries include advanced manufacturing, bioscience, insurance and financing, or technology. The program includes tax credits, exemptions, and/or refunds.
• IEDA Demonstration Fund – Offers loan or royalty arrangements as assistance to companies with market-ready innovative technologies or products that have a clear potential for commercial viability.  Funds assist companies with marketing and business development activities.
• IEDA Iowa Innovation Acceleration Fund - The Iowa Innovation Acceleration Fund promotes the formation and growth of businesses that engage in the transfer of technology into competitive, profitable companies that create high paying jobs. The fund provides financing to eligible businesses through three program components LAUNCH, PROPEL and INNOVATION EXPANSION.
• IEDA Proof of Commercial Relevance (POCR) – The program helps companies reach commercialization. Funds can be used to validate market potential for businesses that demonstrate a proof-of-concept for innovative technology.
• IEDA Innovation Tax Credit Programs - Research Activities Tax Credit, Renewable Chemical Production Tax Credit, Innovation Fund Tax Credit, Seed Investor Tax Credit.
• IEDA Targeted Small Business (TSB) Program – The program is designed to help women, individuals with minority status, service-connected disabled veterans and individuals with disabilities overcome some of the hurdles to start or grow a small business in Iowa.
• New Jobs Tax Credit - A one-time tax credit incentive for businesses in a New Jobs Training (260E) program agreement.
• Iowa Industrial New Jobs Training (260E) - This program assists with new employee training for businesses creating new positions.
• Jobs Training Program (260F) - This program provides job training services to current employees of eligible businesses.

United States Department of Agriculture – Rural Development (USDA-RD)

• USDA Programs & Services for Businesses – Contains a full list and links to all USDA-RD opportunities for businesses and economic development.
• USDA Business and Industry Guaranteed Loan (B&I) Program – Loan guarantees available to support local financing agencies with loans to rural businesses that improve, develop, or finance business, industry and employment as well as improve the economic and environmental climate in rural communities.
• USDA Intermediary Relending Program (IRP) - Provides loans to local organizations to establish revolving loan funds to assist with financing business and economic development activity that create or retain jobs in disadvantaged and remote communities.
• Rural Energy for America Program Renewable Energy Systems & Energy Efficiency Improvement Loans & Grants - Provides guaranteed loan financing and grant funding to agricultural producers and rural small businesses for renewable energy systems or to make energy efficiency improvements.
• USDA Rural Economic Development Loan and Grant (REDLG) - This program provides funding to rural projects through local nonprofit utility organizations. Under the program, USDA provides zero interest loans to local utilities which they can relend to local businesses for projects that create and retain employment in rural areas.
• UDSA Rural Business Development Grant – This grant program provides funds to support targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas.
• USDA Rural Business Investment Program - This program provides a Rural Business Investment Company (RBIC) license to newly formed venture capital organizations to help meet the equity capital investment needs in rural communities.
• USDA Value-Added Producer Grants (VAPG) - Grants funds are available to local producers and cooperatives for planning activities or working capital for marketing value-added agricultural products and for farm-based renewable energy.

Other Economic Development Resources

• IA SourceLink – This website helps businesses and communities succeed by providing complimentary and easy access to assistance and information needed to start and grow a business. The site houses the Resource Navigator, a portal connecting entrepreneurs to a network of nonprofit organizations providing services to help businesses, the Business Concierge, offering personalized assistance and business referrals, and the Business License Information Center, which provides information on licenses, permits, and business regulations.
• Iowa Small Business Development Centers (SBDC) - The Iowa SBDC conducts research, counsels, and trains business people in management, financing and operating small businesses, and provides comprehensive information services and access to experts in a variety of fields.
• BioConnect Iowa - Offers programs targeted to bioscience startups and deep-tech entrepreneurs. Programs include the SBIR/STTR Outreach Program which helps entrepreneurs prepare applications for the federal Small Business Administration’s (SBA) Small Business Innovation Research and Technology Transfer (SBIR/STTR) programs, which award funds to businesses to encourage high-tech development and support research and development needs. Other programs are the Iowa Go-To-Market (G2M) Accelerator, and InnoVenture Iowa.
• Iowa SBA – Offers financial resources and business development technical assistance for Iowa businesses and business resource providers.  Maintains a Business Resource Guide.
• University of Northern Iowa Business and Community Services (BCS) – BCS serves as the University’s outreach arm and houses a number of programs designed to help communities across Iowa address their community, economic, and environmental needs.  BCS works with businesses, entrepreneurs, communities, and governments, providing a wide array of services from marketing research and business incubation to environmental compliance assistance and economic development.
• Iowa State University Office of Economic Development & Industry Relations (EDIR) – EDIR connects companies and individuals with university capabilities and expertise in business and technical assistance, research and development, facilities (including the ISU Research Park, laboratories, and equipment), and workforce development.

• Professional Developers of Iowa – Offers resources and networking to economic development professionals.