The state of Iowa has paid tens of millions of dollars in tax benefits and loans in 2012 to nearly 70 companies that promise to create about 2,000 jobs.
It was an unprecedented year for economic development. The state landed huge fertilizer projects in Lee County and Sioux City, each involving capital investments exceeding $1 billion.
Companies receiving state incentives pledge to spend $3.7 billion in the state to build facilities or expand existing businesses.
The Iowa Economic Development Authority says it spent about $12 million on loans to companies expanding or locating in Iowa during the year. The agency did not immediately have a breakdown of tax credits awards offered this year alone, but says it made more than $151 million in tax credit awards in 2011 and 2012.
Most Popular Today
- 1.Your Money Matters
Sioux Falls Business Battles Bacteria
- 2.Gas & Energy
NorthWestern Energy Wants To Raise Rates
- 3.Retail & Restaurants
Haggen Chain Buying 146 Safeway, Albertsons Stores
- 4.Retail & Restaurants
Staples Releases More Info On Data Breach
- 5.Technology, General, General
N. Korea Proposes Joint Probe Over Sony Hacking
- 6.Gas & Energy
Holiday Travellers Find Relief At The Pumps
Sioux Falls New Construction To End 2014 At $611 Million
- 8.Your Money Matters
Consumers Still Vulnerable To Holiday Hackers
Friday Morning Business Brief
Friday Afternoon Business Brief