Business Incentives
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For growing or newly locating businesses in the QC

QC, That’s Where our bi-state region provides a menu of incentives. We are a dynamic region focused on growing and making it easy and economical for your business to grow here. Companies choosing to locate or expand in the Quad Cities have access to financial assistance programs through several local, regional, state and federal economic development funds. Funding available is typically based on the cost of building improvements and/or construction of a new facility and the level of high-quality job creation. The following is a sampling of state programs that a company could potentially qualify for. The Chamber team has subject matter experts who can assist, allowing you to gain a better understanding of available programs within the bi-state region. We'll help you easily compare the bottom line of doing business here.


Illinois Incentives

  • Advantage Illinois: This program assists businesses that create or retain jobs by offering its Participation Loan Product (PLP) to local lenders. Funding may be used for several purposes including start-up costs, working capital, business procurement, franchise fees, equipment and inventory among other items.
  • Economic Development for a Growing Economy (EDGE) Tax Credit Program: EDGE provides tax credits of 50% of state income withholding taxes for new jobs created in the state (75% if in an underserved area) for ten years. EDGE credits have job creation thresholds and larger companies with more than 100 employees must invest $2,500,000. Tax credits for large companies can’t exceed the amount of their investment. Additional credits are available for qualifying job training costs.
  • Illinois Enterprise Zones: These Zones stimulate economic growth and neighborhood revitalization in economically depressed areas of the state through state and local tax incentives, regulatory relief and improved governmental services. Businesses must be located within the geographic boundaries of the Quad Cities or Henry County Enterprise Zone or can apply to be added to the Zone. Sales tax exemption benefits from the program can be used for newly constructed buildings as well as materials purchased for routine maintenance on existing facilities. 
  • Industrial Revenue BondsBonds provided by the Quad Cities Regional Economic Development Authority as the issuer of the bonds, passing its DOUBLE tax-exempt status onto a manufacturing company to finance the acquisition of fixed assets including land, buildings, machinery and equipment. Because the interest on the bonds is not subject to state or federal income taxes, investors and lenders require a lower interest rate to achieve an equivalent after-tax return. Therefore, the borrower receives a preferential interest rate, generating substantial savings.
  • R&D Tax Credit Program: An annual tax credit equal to 6.5% of qualifying research expenditures on in-house and contractual R&D performed in Illinois.
  • Reimagining Electric Vehicles (REV) Illinois Program: REV offers competitive incentives to expand in or relocate to Illinois for companies that manufacture EVs and EV parts (batteries, cathodes, anodes) as well as EV charging stations. The program defines EVs as vehicles exclusively powered by electricity and permitted to operate on public roadways – including cars and motorcycles.  

Iowa Incentives

  • High Quality Jobs Program: This program assists qualifying businesses to offset some of the costs incurred to locate, expand or modernize an Iowa facility. This flexible program, through the Iowa Economic Development Authority (IEDA), includes loans, forgivable loans, tax credits, exemptions and/or refunds.
  • Industrial New Jobs Training Program (260E): This program assists businesses in creating new positions with new employee training and is administered through Eastern Iowa Community Colleges (EICC). This program can provide flexible funding to meet the wide variety of training and employee development needs for its new employees. The new employees' withholding taxes pay for the program at no cost to the employee or the company. These taxes may be diverted for a 10-year period to pay for training costs.
  • R&D Tax Credit Program: This annual tax credit is equal to 6.5% of qualifying research expenditures on in-house and contractual R&D performed in Iowa.
  • Revitalize Iowa’s Sound Economy (RISE) Program: RISE promotes economic development in Iowa through the construction or improvements of roads and streets.
  • Targeted Small Business Program (TSB): TSB is designed for women, individuals with minority status, service-connected disabled veterans and individuals with disabilities to start and grow their businesses in Iowa. Certified TSBs are listed in an online directory used by private and public entities in Iowa, receive notification to view state procurement opportunities 48 hours in advance of being posted on the state public site and have access to the TSB loan program for business improvements and expenses.

Federal, Regional & Local Incentives

Federal programs include:

  • New Markets Tax Credits
  • Opportunity Zones
  • United States Dept. of Agriculture Programs – many of which are geographically specific programs.

Local community and county incentive programs include:

  • Low-interest loans
  • Façade programs
  • Tax rebate programs for job creation and investment in real estate

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Jenelle Wolber, EDFP
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Jenelle Wolber, EDFP
Director, Business & Economic Growth Services
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