Iowa Innovation Council helps increase startup investor tax credits

The Iowa Innovation Council is working to develop a funding mechanism that would help startups across the state, the Business Record reported last week. An amended Iowa statute will allow the state to issue up to $8 million in tax credits each year, a five percent increase, for investments made to the Iowa Innovation Fund—intended…

The Iowa Innovation Council is working to develop a funding mechanism that would help startups across the state, the Business Record reported last week. An amended Iowa statute will allow the state to issue up to $8 million in tax credits each year, a five percent increase, for investments made to the Iowa Innovation Fund—intended to attact more potential private investors. “We’re excited about that (investment potential),” said Cara Heiden, a member of the council’s board of directors. “It’s a demonstration of the public and private sectors coming together. These investments have higher risk, yes, but it comes with an understanding that these investments are needed.” The three-year waiting period previously attached to the Iowa Innovation Fund tax credit also was eliminated in the new legislation. — Source: Business Record

 


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This story is part of the AIM Archive

This story is part of the AIM Institute Archive on Silicon Prairie News. AIM gifted SPN to the Nebraska Journalism Trust in January 2023. Learn more about SPN’s origin »

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