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Programs and Incentives

The City of Davenport offers a variety of assistance programs to help grow local businesses as well as recruit new investment to the City. Assistance programs have been used by small and large businesses alike, and range from federally funded loans to tax incentives. Economic Development staff also work with Iowa Economic Development Authority (IEDA) to help businesses access incentives at the State level.

Economic Development Loans
The City offers an Economic Development Loan (ED Loan) is for larger manufacturing projects that will be creating new jobs in our community. This program offers up to $25,000 per new full time job created. Interest rates are variable and loan amount is dependent upon the scope of the project. For more information regarding this program, please see the Economic Development Loan Application.


Tax Incentive Programs
The City utilizes property tax incentive programs to incent property owners that improve their property and help to offset the increase in taxes they see as a result of an increase to their assessed value. There are three property tax incentive programs offered by the City:

  • Urban Revitilization Tax Exemption is used in targeted areas of the City by providing a tax exemption on the increase in property taxes resulting from improvements to a property
  • DavenportNOW is a City wide program that offers a tax rebate of 50% of the City's portion of the tax levy for ten years.
  • Tax Increment Financing is used for larger developments that are both increasing the tax base and creating well paid jobs in our community.

 

Iowa Economic Development Authority
The State offers a variety of assistance programs including the High Quality Jobs Program. This program encourages business development based upon qualifying capital investment and new jobs being created.  Individual project applications are made in conjunction with the City and are awarded by the State on a case-by-case basis.

Bi-State Regional Commission
The Bi-State Regional Commission offers a Revolving Loan Fund to provide gap financing for businesses that create or retain jobs in our region.