Business Incentives for Growth (BIG) Program
Supports Iowa business expansion with performance-based tax credits, sales tax refunds, and optional local property tax relief.
Iowa's Business Incentives for Growth (BIG) Program, administered by the Iowa Economic Development Authority, helps qualifying businesses offset the costs of expansion and modernization through a combination of performance-based investment tax credits, sales tax refunds on construction materials, and optional local property tax exemptions. The program superseded the legacy High Quality Jobs Program and targets companies in advanced manufacturing, bioscience, insurance and finance, and technology. Retail, service providers, warehouses, distribution operations, and data centers are explicitly excluded, as are projects already underway at time of application.
Investment tax credits under BIG are performance-based: they are earned when qualifying capital assets — buildings, long-term leases of ten or more years, or depreciable business assets — are placed in service, and distributed over five years. If credits exceed Iowa income taxes owed in any year, the excess is refunded. For new jobs created, wages must meet or exceed 100% of the local laborshed wage; for retained jobs, wages must meet 120%. Companies must provide competitive benefits to full-time employees. The application process follows a two-stage structure: first a confidential pre-application, followed by a full application submitted by invitation only.
Applications are due by the 15th of each month and must be signed by month-end for review at the next IEDA Board meeting, which convenes on the third Friday of each month. This monthly review cycle creates predictable submission windows throughout the year. The BIG Program is best suited to companies planning substantial capital investment projects — new facilities, major equipment purchases, or long-term lease expansions — where the sales tax refund on construction materials and the multi-year investment tax credit can provide a material offset to total project cost. Contacts: Alaina Santizo (alaina.santizo@iowaeda.com, 515.348.6162) and Maicie Pohlman (maicie.pohlman@iowaeda.com, 515.348.6161).
Funds Iowa business expansion in targeted sectors through performance-based investment tax credits, construction sales tax refunds, and optional local property tax exemptions awarded after qualifying assets are placed in service.
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