Cedar Rapids Metro Projects Receive 1/3 of Brownfield/Grayfield State Funding
The Iowa Economic Development Authority (IEDA) board today approved 20 applications submitted for the Brownfield/Grayfield Redevelopment Tax Credit Program. The program provides tax credits based on a percentage of eligible expenditures for redevelopment projects on qualifying properties. The Cedar Rapids Metro Economic Alliance assisted 13 local projects by preparing the applications, securing letters and submitting the applications to IEDA. Seven local projects were approved for funding for a total of $3.5 million.

Local Developers Awarded More Than $1M in Incentives from Workforce Housing Tax Credits
Take an abandoned, empty or a decaying and neglected property and encourage developers to turn it into affordable housing for Iowa communities. That’s the idea behind Workforce Housing Tax Credits (WHTC), which are administered by the Iowa Economic Development Authority (IEDA).

The Economic Alliance assists our members with applications on a wide variety of state administered tax incentive programs, but this was one we recently elected to dip our toes in the water and assist business with. Why? It’s simple, really. Attracting and retaining talent to the region involves many factors, like availability of good jobs, quality of life amenities, cost of living and others. We realize that available, affordable housing is an important piece in building workforce success in the region.

Marion Process Solution Breaks Ground on New Facility
Marion Process Solutions recently announced they will expand and create a state-of-the-art test facility and be home to Marion Performance Group, its newly formed parts and services team. The new expansion will add 6,100 square feet to its existing campus with capital investment of $1.5 million. The Iowa Economic Development Authority (IEDA) board awarded the business tax incentives via the High Quality Jobs program on Friday, Sept. 22. At their Sept. 21 meeting, the Marion City Council approved a resolution of support for the business's application to the IEDA.

A ground breaking was held October 11. The expansion will create a minimum of three high quality jobs over the next three years. Marion Process Solutions currently has 55 employees in Marion. 

The Cedar Rapids Metro Economic Alliance partnered with Marion Economic Development Corp. (MEDCO) to prepare an application for Iowa's High Quality Jobs Program for the project.
2017 Project Wins
Business Recruitment & Business Expansion Project Pipeline
The following is a list of projects the Economic Alliance is currently working on with location decisions expected to be made within the next 12 - 18 months:
*Projects abandoned or alternative location selected.
 Connect with the Cedar Rapids Metro Economic Alliance  
Facebook   Twitter   Instagram   LinkedIn
If you're having trouble viewing this email, click here to read it online.