One of the most important jobs of the Legislature is to invest in the long-term prosperity of Iowa and its citizens. Fiscal responsibility and sound budgeting are allowing us to do that, with particular emphasis on job creation and economic development at our small and Main Street businesses.
Local small businesses are the backbone of thriving communities, so focusing on them is a smart thing to do. According to an analysis of census data, small businesses were the first to recover from the recession, and some experts say small businesses are uniquely prepared to deal with economic crises.
This year, we approved several initiatives to continue growing Iowa jobs and small businesses by:
- Providing incentives for businesses to locate and expand in Iowa when they commit to making a strong contribution to the local economy and creating good jobs for residents.
- Giving purchasing preference to Iowa products and businesses.
- Promoting Iowa communities and attractions that bring visitors to our state, generating more than $7.6 billion annually and employing 64,400 people statewide.
- Improving air, rail and transit facilities, which boost Iowa’s economic growth through the reliable movement of goods, services and people.
- Expanding help to fix up abandoned buildings and blighted areas, and making tax credits refundable for nonprofit, tax-exempt organizations.
- Tripling solar energy tax credits to meet growing demand for solar power and maximize the benefit for Iowans from federal solar tax credits.
- Encouraging the production of new fuels that take advantage of Iowa’s agricultural strengths.
- Increasing funding for Iowa’s Small Business Development Centers, which conduct research, provide counseling and train Iowans in managing, financing and operating a small business.
- Funding innovative programs at our state universities that work with communities and businesses on technology commercialization, marketing and entrepreneurship.
We will continue to do more to ensure businesses want to make their home in Iowa and create good local jobs.