Major Economic Growth Attraction (MEGA) Program

Major Economic Growth Attraction (MEGA) Program

Funds major Iowa investment projects with negotiated incentives, including refundable tax credits, job-related withholding relief, and construction refunds.

The Major Economic Growth Attraction (MEGA) Program is Iowa's flagship incentive for transformational capital investment projects. Administered by the Iowa Economic Development Authority (IEDA), the program targets projects exceeding $1 billion in capital investment in advanced manufacturing, biosciences, or research and development operations. IEDA Board meetings are held monthly on the third Friday for award decisions, and intake is rolling through a three-stage confidential process.

Incentives under MEGA are individually negotiated based on investment scale, job creation, compensation levels, and economic impact. Available incentives include a refundable investment tax credit of up to 5% of qualifying investment, a withholding tax credit of up to 3% for eligible new jobs, a refund of state sales, service, or use taxes paid during construction, and optional local property tax exemptions on increases in assessed value. New positions must pay at minimum 140% of the qualifying wage threshold upon project completion, and the project must be located at an Iowa Certified Site of at least 250 acres. Foreign adversary affiliations disqualify applicants.

To pursue MEGA incentives, a company initiates a confidential pre-application review; if invited, it proceeds to a full application and then IEDA Board consideration. The program is Iowa's primary tool for competing nationally and globally for mega-projects such as semiconductor fabs, advanced battery plants, and large-scale data centers. Contacts for initial inquiry are Alaina Santizo (alaina.santizo@iowaeda.com, 515.348.6162) and Maicie Pohlman (maicie.pohlman@iowaeda.com, 515.348.6161) at IEDA.