Targeted Jobs Program Extended 5 Years

Submitted on Wed, 05/08/2013 - 00:00

A bill to renew the Targeted Jobs Withholding Tax Credit Program through 2018 has passed the Iowa legislature. The program is a critical tool to retain and attract good paying jobs and increase capital investment in border communities in Iowa. Scheduled to end June 30, 2013, the program has been renewed another 5 years and now awaits the Governor’s signature.

Local legislators Senator Rick Bertrand, Senator Bill Anderson, Representative Chris Hall, Representative David Dawson, Representative Ron Jorgensen and Representative Chuck Soderberg worked tirelessly to pass the bill that allows for a more level playing field with states with no income tax or a similar wage credit program. Mayor Bob Scott said, “We are pleased with the bipartisan leadership of the Sioux City area delegation and are grateful to the Iowa legislature for completing work on the 5-year extension. The Targeted Jobs Program will continue to make a difference in our local economic growth.”

The 2012 Department of Revenue Study shows in the past six years the program has resulted in $138 million in new private investment, as well as 574 new jobs and 1,855 retained jobs in Iowa. Over $98 million in new private investment has been leveraged and nearly 1,500 jobs exist in Sioux City because of the Targeted Jobs Program, many of which are in the advanced manufacturing and healthcare industries.

Mayor Scott added, “We are pleased that Governor Branstad was able to attend the Sabre groundbreaking in January and we urge him to sign the bill when it reaches his desk.” The Sabre Industries project is a model of Targeted Jobs program effectiveness, helping to create and retain 532 jobs and leverage $28 million in private capital investment. Sabre Industries is a global leader in the production of communications towers and electric transmission towers and a home-grown company with facilities in other states.

Contact

City Hall
405 Sixth Street
P.O. Box 447
Sioux City, Iowa 51102

Marty Dougherty
Economic Development Director
712-279-6345