Major Economic Growth Attraction (MEGA) Program

The Major Economic Growth Attraction (MEGA) Program sits under the Iowa Economic Development Authority and is reserved for very large projects that can shift the state's industrial base. It is built for major capital investment rather than routine expansion, and the program is strongest when a company is bringing a billion-dollar project into Iowa. Awards are negotiated case by case and can include a refundable investment tax credit of up to 5% of qualifying investment, a withholding tax credit of up to 3% for new jobs, state sales and use tax refunds during construction, and optional local property tax exemptions. Projects must be in advanced manufacturing, biosciences, or research and development, locate on an Iowa Certified Site of at least 250 acres, and pay new jobs at least 140% of the qualifying wage threshold. The process runs in three stages: confidential pre-application, invitation-only full application, and board consideration. This is a relationship-driven route for projects with scale, site control, and a high-wage employment story already taking shape. Applicants are best positioned when they can show that the site, workforce package, and capital plan are all aligned and that no foreign-adversary affiliation issues sit in the background. The monthly board review rhythm matters, but the real test is whether the project is large enough and structured cleanly enough to compete for state attention.

Each grant below is a distinct funding opportunity with its own eligibility, scope, and deliverables.