Financial Incentives

Business Incentives

Looking for money for your business? Find it here at our one stop Financial Incentives page. Everything from small business administrations, state of Iowa incentives, Waverly Area Development Fund, tax rebatement information and much more. All of the information you're looking for in one easy-to-use location.

Business Incentives (PDF)

Business Climate

Bremer County offers a favorable business climate. The State of Iowa has a tax structure that is business-friendly, and the community colleges in the area provide a number of employee training opportunities through the State of Iowa jobs training programs. Local incentives vary by community and can include tax increment financing, tax rebatement, and revolving loan funds. Iowa is a "right to work" state.

Iowa Corporate Tax Structure

Iowa's corporate tax structure provides several advantages to businesses that locate in the state, including:

A single factor nonunitary tax based only on the percentage of total sales income in the state of Iowa. There is no Iowa corporate income tax on profit from out of state sales.
A 50% tax deduction if an Iowa company is subject to paying Iowa corporate income tax. Iowa is one of only five states that offer federal deductibility.

Other tax advantages include:

No sales or use tax on industrial equipment, machinery, or computers.
No sales tax on purchases of electricity or natural gas used directly in the manufacturing process.
No sales tax on purchase of electricity used directly for qualifying data centers.
No sales or use tax on computers or peripherals used in the processing or storage of data.
No property tax on industrial equipment, machinery, or computers.
No tax assessment on personal property (includes corporate inventories of salable goods, raw materials, and goods in process).

New Market Tax Credits

An area in west Bremer county, including parts of Waverly, has been designated for New Market Tax Credits. Projects could cover a wide variety of sectors with job creation being one of the prime attributes.

New Market Tax Credits (PDF)

TIF Assistance

Financial Assistance can be made available in Waverly's Urban Renewal Tax Increment Financing (TIF) Districts for qualified projects. The purpose of this TIF Assistance Program is to assist businesses in the expansion and construction of industrial and commercial facilities, and to expand employment possibilities where such assistance would encourage business expansion and/or new construction. The property must be in one of Waverly's Urban Renewal TIF Districts, and a portion of the additional property taxes paid is utilized to fund various incentives as outlined in the agreement between the company and the City.

Waverly Area Development Fund

The revolving loan fund is primarily intended to be used for the purpose of filling gaps in financing for financing commercial, industrial, or retail establishments in the Waverly, Shell Rock, and Bremer County areas. The stated purpose of this fund is to retain and create employment opportunities, leverage other public and private investments, facilitate economic growth, and encourage industrial, commercial, and retail development in designated areas.

Download a PDF of Brochure

Download a PDF of the Loan Application

For further information please contact:

Waverly Area Economic Development

Brent Matthias, Executive Director

Phone: 319-352-9210, fax: 319-352-5772

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

IRP Revolving Loan Fund

This revolving loan fund is primarily intended for the purpose of filling gaps in financing for the establishment or expansion of retail establishments and commercial projects within the city limits of Waverly. The stated purpose of this fund is to retain and create employment opportunities, leverage other public and private investments to facilitate growth, and to encourage commercial and retail development, expansion, and community development projects within the city limits of Waverly. For further information please contact:

Emily Neuendorf, Executive Director, Waverly Chamber of Commerce

Phone: 319-352-4526

Fax: 319-352-0136

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Small Business Facade and Improvements Incentive Program

The objective of this program is to provide an incentive to support small business owners or small building owners in adaptive reuse of existing commercial structures; to create a stronger main street corridor by presenting a facade that is attractive to potential customers and business owners; and to create quality upper story living/office space in area buildings that are currently vacant or in a general state of disrepair. This program will provide incentives to the business owner or building owner in the form of tax rebatement generated on the next taxable value increment resulting from the improvements on the following schedule:

Year 1- 100% tax rebatement on increased amount only

Year 2- 80% tax rebatement on increased amount only

Year 3- 60% tax rebatement on increased amount only

Year 4- 40% tax rebatement on increased amount only

Year 5- 20% tax rebatement on increased amount only

Year 6- taxes paid in full

To qualify for this program, the building must be located in Waverly; the project must create living/working space of a previously existing space that is in a general state of disrepair; or must significantly improve facade front or back; and the project must create a minimum tax rebatement of $750 over the life of the agreement (A valuation increase of $7,200 is necessary to achieve rebatement of $750 over five years).

Download a PDF of the application.

For further information please contact:

Emily Neuendorf, Executive Director, Waverly Chamber of Commerce

Phone: 319-352-4526

Fax: 319-352-0136

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.