The Charles City Area Development Corporation (ADC) and its public and private partners offer local, county, state and private financial incentives that can be packaged to meet the needs of any business or industry. Whether you're jump-starting a new business, or growing to the next level, Charles City has the financial incentives that are right on the money and right for you.
Business Incentives Available

• THROUGH THE AREA DEVELOPMENT CORPORATION
  ADC Revolving Loan Fund
  ADC Regional Revolving Loan Fund
  Capital Fund Drive Dollars
  Enterprise Zone Program
• THROUGH THE CITY OF CHARLES CITY
  Tax Increment Financing
  Business Development Revolving Loan Program
  Tax Abatement
• THROUGH COMMUNITY REVITALIZATION
  Design Assistance
  Façade Improvement Grant Program
  Low Interest Loan Program
  Revolving Loan Fund
  Technology Assistance Program
• THROUGH FLOYD COUNTY
  Tax Increment Financing
  Enterprise Zone
• THROUGH THE STATE OF IOWA
  Iowa Values Fund (IVF)
  High Quality Job Creation Program (HPJC)
  Entrepreneurial Ventures Assistance Program (EVA)
  Economic Development Set Aside (EDSA)
  Community Economic Betterment Account (CEBA)
  Enterprise Zone benefits/incentives
  Brownfield incentives
  Job Training Fund
  New Job Tax Credit
  Entrepreneurial Venture Assistance (EVA) Program
• PRIVATE JOB CREATION FUND
  The Capital Fund, sponsored by the Charles City Area Development Corporation to create a private partnership to go along with City, County and State incentives in order to attract and retain jobs in the Charles City Area.  For more information, contact ccity@netconx.net
  

Through Floyd County

• ENTERPRISE ZONE
  Under 1997 Iowa Legislation, Floyd County is designated an "Enterprise Zone" region. If a new or expanding business concern complies with specific wage, investment and benefits criteria, the following incentives are available.
  
  
  1. Local property tax exemption based upon number of jobs, wages, capital investment and new assessed valuation.
  2. Supplemental new jobs training withholding credit of 1-1/2% of gross wages. This credit is in addition to, and not in lieu of, the withholding credit of 1-1/2% authorized for the Iowa New Jobs Training Program.
  3. 10% Investment Tax Credit on Iowa corporate income tax
  4. 13% R&D tax credit
  5. Refund of sales, service and use taxes paid to contractors or subcontractors during construction

Through the Charles City Area Development Corporation

• Revolving Loan Fund
  In cooperation with the City of Charles City, the Charles City Area Development Corporation administers these funds to stimulate industrial development and expansion within the city limits of Charles City. Intended as an incentive to assist development and expansion, the Revolving Loan Fund has been established to provide gap financing for development projects.
  
  
• Private Job Creation Fund (or Capital Fund)
  The Job Potential Review committee of the Charles City Area Development Corporation is responsible for overseeing all applications to the Capital Fund. The Capital Fund money was raised from the private sector of the community: businesses, private individuals, and financial institutions. This funding is tied to job creation and the economic value of those jobs to the community.
  
  
• Charles City Regional Revolving Loan Fund
  In an effort to promote and encourage economic development within the communities of the greater Floyd County region, the Charles City Area Development Corporation has established a revolving loan fund to provide financial assistance to new and expanding businesses. The Regional Revolving Loan Fund is designed to provide supplemental financing in support of new and expanding businesses located within, and adjacent to Floyd County. The revolving loan fund will be used by the CCADC to make loans and loan guarantees for the following purposes:
  1. To increase employment opportunities, particularly for low and moderated income residents, by increasing the number and type of businesses within member communities and rural Floyd County.
  2. To offer financial assistance that will promote the retention and expansion of existing businesses.
  3. To increase the property tax base.
  4. To diversify the region's economic composition by encouraging unique or essential business concerns.
     

Through Charles City/Floyd County
S.W. Bypass Tax Increment Financing (TIF) District

• City/County will consider funding public infrastructure improvements necessary for industrial growth.
• Loans are available as incentives to assist in industrial growth within the district. The amount of the loan is based upon increased taxable valuation, number of jobs, wage rate and capital investment. Loans are project specific, with Development and Assessment Agreements required.
  

Charles City Tax Increment Financing (TIF) Districts

Riverside TIF District (includes Central Business District)

• Loans are available for both new and expanding commercial and industrial activities. Loan amount is based upon the increased taxable valuation created by the improvements and is specific to the benefits created for the community.
• A low interest Business Development Loan program is available for business retention and business creation. Amounts are based upon needs of each project and overall benefits created for the community.
  

South Grand TIF District

• City will consider funding public infrastructure improvements necessary to service new commercial and industrial construction.
  

East Park TIF District

• City will consider funding public infrastructure improvements necessary for industrial growth.
• Loans are available as incentives to assist in industrial growth within the districts. The amount of the loan is based upon the increased taxable valuation and jobs created by each activity. Loans are project specific, with Development and Assessment Agreements required.
  

Through the State of Iowa

• Iowa New Jobs Training Funds
  North Iowa Area Community College, State of Iowa
  The North Iowa Area Community College (NIACC) can provide dollars to eligible companies for training new employees in job-related skills through the Iowa New Jobs Training Program.
  
  
• Iowa New Jobs Tax Credit
  North Iowa Area Community College, State of Iowa
  A State of Iowa tax credit of $1,116 per new full-time job created for companies who increase their workforce by 10 percent or more and entering a training agreement. Credits are typically taken over a period of up to 10 years.
  

Through Iowa Department of Economic Development

• Community Economic Betterment Account (CEBA)
  The purpose of the CEBA program is to provide financial assistance to businesses and industries which require assistance in order to create new job opportunities or retain existing jobs which are in jeopardy.
  
  
• Economic Development Set-Aside (EDSA)
  The EDSA program provides financial assistance to companies that create new employment opportunities and/or retain existing jobs, and make new capital investment in Iowa. The amount of funding is based on part, on the number of jobs to be created/retained. Funds are provided in the form of loans and forgivable loans.

EDSA fund may be used for a wide range of business development purposes, including: Building construction or reconstruction, land or building acquisition, operating and maintenance expenses, equipment purchases, site development-clearance, demolition and building removal, and/or working capital.

EDSA investments should not be considered sole funding sources. This program is used to leverage other financial support such as bank financing and private investment.

The EDSA program assistance is targeted toward business projects located in communities of under 50,000 population. At least 51% of the created/retained employment opportunities must be made available to individuals presently earning wages defined as low-and moderate income.

Maximum amount of assistance-$500,000

Through Local Financial Institutions

C US Bank
1407 South Grand Ave.
Charles City, IA 50616
Phone: 641-228-2550
Web:  www.cusb.com

Family Community Credit Union
1211 N. Grand Ave.
Charles City, IA 50616
Phone: 641-228-6612
E-mail: fccu@fiai.net
Web: www.fccucharlescity.org

First Citizens National Bank
300 N. Main St.
Charles City, IA 50616
Phone: 641-228-5315
Web: www.firstcitizensnb.com

First Security Bank & Trust
809 Clark St.
Charles City, IA 50616
Phone: 641-228-2343
E-mail: president@1stsecuritybank.com
Web:  www.1stsecuritybank.com

Cedar Valley Bankshares Corporate Office
400 N. Main Street
Charles City, IA 50616
Phone: 641-228-7725

Security State Bank
610 Gilbert Street
Charles City, Iowa  50616
Phone:  641-228-1900
FAX:  641-228-7300
E-mail:  pgebel@ssbank.net
Website:  www.ssbank.net