Companies are encouraged to contact the City of Waterloo's Noel Anderson at 319-291-4366 or email email@example.com. Noel will review your project and work as your advocate to access state and local business incentive programs that best meet your needs. All inquires are handled in confidence.
City "One-Stop" Permitting Center
Technical help with filing documents to expedite process. A staff member from the City's Planning Department will be assigned to oversee the project.
Tax Increment Finance District (TIF)
TIF Districts PDF
The City of Waterloo offers incentives for expanding and new business development within seven Tax Increment Finance (TIF) Districts.
Local Industrial Tax Abatement
- Five year phased in schedule 75% abated year 1; 60% abated year 2; 45%
- abated year 3; 30% abated year 4; 15% abated year 5).
Reduced land cost for developed industrial and office property.
- Northeast Industrial Park
- MidPort America Business Park at Waterloo Airport
- Martin Road Business Park
- Rath Industrial Area - Brownfield Redevelopment
- San Marnan Business Park
- Downtown Waterloo
- Logan Plaza
Consolidated Urban Revitalization Area (CURA)
The City's designated CURA area allows tax abatement for property improvements offering an increased assessed valuation of at least 15% for commercial property and 10% for residential properties.
One of the following two schedules may apply. Reference attached map showing district.
- 3 years at 100% each year.
- 10 years at a graduated schedule (80% abated year 1; 70% abated year 2; 60% abated year 3; 50% abated year 4; 40% abated year 5; 40% abated year 6; 30% abated year 7; 30% abated year 8; 20% abated year 9; 20% abated year 10).
Downtown Economic Revitalization through Corporate & Regional Headquarter Location
This program is created by the City of Waterloo to encourage development of corporate, regional and divisional headquarter activities in downtown Waterloo. In many cases these activities do not qualify for normal State incentives offered through the Iowa Department of Economic Development because they may compete with other Iowa employers, or because the company's investment in the downtown area is through a lease for space with an existing building owner.
Corporate, regional or divisional headquarters is defined as providing administrative functions, which oversee or direct activities of subordinate offices and/or personnel located outside of the City of Waterloo.
- $250.00 per eligible job created/retained in the form of a forgivable loan. This is provided directly to the company creating jobs.
- Company must enter into a 10-year commitment to occupy downtown Waterloo property in the Downtown Tax Increment District. Initial lease term must be for a minimum of 5 years. One-half of the loan total is forgiven at the end of 5 years, and the balance at the end of 10 years. Interest rate will be 75% of the prime rate forgiven on the schedule as the principle.
- At least 10 new full-time permanent jobs (new to the City of Waterloo) must be created within a 2-year period from the date of occupancy and maintained for 10 years.
- Jobs retained to the City of Waterloo are eligible to receive benefits so long as they meet other wage and benefit criteria.
- New jobs created or retained must average 130% of the average wage in Black Hawk County (1st Quarter 2007 figure - $21.17 per hour).
- This assistance is provided in lieu of other direct city financial support including but not limited to low interest loans, tax abatement/rebate, Enterprise Zone benefits, etc.
Black Hawk EDC Loan Program
Third party low interest loan program administered and granted locally, rate varies, term 3-5 years. Loan monies use include: land, building, machinery and equipment. Qualifications: Project cost, historical & pro forma financials.