Why Jones County?
Jones County, located in the heart of Eastern Iowa along Highway 151, is central to major U.S. markets. Within five hours of Chicago, Minneapolis, St. Louis, Madison, and Omaha with easy access to the crossroads of America, Interstates 80 and 35.
- Tax Abatement. The appropriate local government will consider requests to abate local property taxes for value added to property.
- Tax Increment Financing. The local government serving the location will consider using the property taxes resulting from the increase in taxable valuation caused by the construction of new industrial or commercial facilities to provide economic development incentives to a business or industry and/or offseting the cost of public improvements to serve new development.
State of Iowa Incentives
- The Iowa New Jobs Tax Credit is an Iowa corporate income tax credit and is available to a company that has entered into a New Jobs Training Agreement (260E) and expands their Iowa employment base by ten percent or more. For more information visit the Iowa Economic Development Authority.
- The Iowa High Quality Jobs Program provides businesses that qualify tax credits and direct financial assistance to off-set some of the costs incurred to locate, expand or modernize their Iowa facility. The package can include loans, forgivable loans, tax credits, exemptions and/or refunds. The Jones County wage threshold must be met for this program.
There a several tax benefits to building your business here in Iowa:
- Iowa has a single-factor, non-unitary corporate income tax. You pay ONLY on the percentage of sales income that you receive from Iowa customers. If you sell all of your goods outside of Iowa, you pay no corporate income tax here.
- Business owners in Iowa can deduct up to 50% of their federal taxes on corporate income tax in Iowa. We are one of only 5 states that offer this advantage!
- Iowa is a right to work state. Employees are not required to join a union as a condition of employment.
- There are no taxes on Iowa on the following:
- No sales or use tax on manufacturing machinery and equipment.
- No sales tax on purchases of electricity or natural gas used directly in the manufacturing process.
- No sales or use tax on computer and auxiliary items used in the processing or storage of data
- No property tax on manufacturing machinery/equipment/computers
- No personal property (inventory) tax assessment. This includes salable goods, raw materials and goods in process.
- Iowa has the lowest unemployment insurance rate in the nation! The rate for all non-construction business employees without a prior employment history in Iowa is 1%.