Urbandale Revolving Loan Fund (RLF)
Urbandale RLF is a local incentive to provide financial assistance to businesses that plan to make a capital investment and create new jobs opportunities and/or retain existing jobs in Urbandale. Assistance may be provided to encourage new business startups, expansion or retention of existing businesses, or the recruitment of out-of-state businesses to Urbandale. Assistance is provided in the form of low-interest loans. The awards are based in part on job creation, quality of employment, and benefits for the community.

State Incentive Programs:

Iowa Values Fund (IVF) - The Iowa Values Fund is the state's premier 10-year economic development program designed to transform Iowa's economy by creating high-quality jobs through business development and expansion across Iowa. With a $35 million dollar annual appropriation for business development and marketing, the IVF assists Iowa companies to expand, as well as attract new businesses to the state. To be eligible, a business must provide a wage, plus benefits, that is equivalent to 130 percent of the county average. A business must also be in one of the state's targeted industries, which include life sciences, information solutions/financial services, and advanced manufacturing.

Community Economic Betterment Account (CEBA) - The CEBA program provides financial assistance to businesses that plan a major capital investment that will create new job opportunities and/or retain existing jobs in Iowa.

• Assistance may be provided to encourage new business start-ups, expand or retain existing businesses, or recruit out-of-state businesses to Iowa.
• CEBA also contains a modernization project component, specifically designed for businesses making equipment and technology upgrades and employee-training investments to maintain their competitive advantage.
• Assistance is provided in the form of loans and/or forgivable loans, up to a maximum award of $1 million, based in part on job creation, capital investment, the ability to meet certain regional/county wage standards, quality of employment, and economic benefits for the state and local community.
• Applications are filed by cities, counties or community colleges on behalf of eligible businesses.

Economic Development Set-Aside (EDSA) - EDSA provides assistance to businesses that plan to make a capital investment and create and/or retain quality employment opportunities for low- and moderate-income individuals.

• Assistance may be provided to encourage business start-ups, the expansion or retention of existing businesses, or the recruitment of out-of-state businesses into Iowa. EDSA funds business projects located in Iowa cities of less than 50,000 population.
• Assistance is provided in the form of loans and/or forgivable loans. The maximum award is $1 million per project.
• Applications are filed by cities or counties on behalf of eligible businesses, which need to meet certain regional/county wage standards.

Iowa Value-Added Agricultural Products and Processes Financial Assistance Program (VAAPFAP) - The VAAPFAP provides financial assistance to new or existing companies that utilize the state's agricultural commodities to create new, innovative products or to produce renewable fuels (including soy diesel, ethanol and other renewable fuels).

• VAAPFAP can also assist those companies engaged in organic processing, bio-mass and the creation of alternative energies. Financial assistance is provided in the form of loans and forgivable loans.

Revitalize Iowa's Sound Economy (RISE) - This program is administered by the Iowa Department of Transportation (DOT) and provides funding for expenditures on city and county highways to help attract new development or to support growth with existing developments.

• Projects are evaluated on economic potential and impact. RISE funding may be used in conjunction with other sources of federal, state, local and private financing to improve area highways and specific access to roads.
• Assistance is provided in the form of grants and/or loans.
• Use this link to view the Iowa DOT funding guide.

Public Facilities Set-Aside Program (PFSA) - The PFSA program provides financial assistance to cities with less than 50,000 in population and to counties for public infrastructure improvements that enable businesses to create new job opportunities.

• Projects that will create manufacturing jobs, add value to Iowa resources and/or increase out-of-state exports will be given priority.
• Eligible projects include adding or improving sanitary sewer systems, water systems, streets, roads, and storms sewers.

Railroad Revolving Loan & Grant Program - The Railroad Revolving Loan & Grant Program (RRLGP) provides assistance to improve rail facilities that will spur economic development and job growth and provide assistance to railroads for the preservation and improvement of the rail transportation system.

The program can provide assistance as either loans or grants, but grant funding is limited to 50% of the total funds available. In the current round of funding, approximately $1 million will be available for assistance. Industries, railroads, local governments or local economic development agencies may apply for financial assistance for projects such as:

• building rail spurs to a new or expanding development;
• building or rebuilding sidings to accomodate growth;
• purchasing or rehabilitating existing rail infrastructure;
• rehabilitating existing rail lines to increase capacity; or
• other rail related developments.

Public benefits can be described in terms of new jobs created, transport costs, and capital investment. Public costs can be described in terms of the funding requested.

For additional information on State incentives contact the Iowa Department of Economic Development at (515) 242-4707 or http://www.iowalifechanging.com/business/financial_assistance.html