Business Incentives for Growth (BIG) Program
Invests Performance-based investment tax credits and sales tax refunds for Iowa business expansion in targeted sectors.
The Business Incentives for Growth (BIG) Program sits under the Iowa Economic Development Authority and helps established Iowa businesses finance expansion or modernization. It combines performance-based investment tax credits with sales tax refunds and optional local property tax relief, making it a practical tool for projects that need state support but are not seeking a direct grant. Credits are earned when qualifying assets are placed in service and then distributed over five years. The program reviews applications monthly, with a confidential pre-application followed by a full invitation-only submission. It is open to for-profit companies in advanced manufacturing, bioscience, insurance and finance, or technology, while retail, distribution, and data centers are excluded. New jobs must pay at least 100% of the local laborshed wage, and retained jobs must pay at least 120%. The strongest fit is a company with a clear expansion plan, measurable capital spend, and a wage profile that can support the state thresholds over time. Projects already underway or with documented compliance problems are at a disadvantage, so applicants need a clean operating history and a schedule that can survive board review. The structure rewards patient, staged expansion rather than quick-turn transactions.
Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.