Iowa Jobs Training Program (260F)

The Iowa Jobs Training Program (260F) is available to businesses and industries that invest in retooling to retrain current employees. Businesses may receive grants, loans or forgivable loans of up to $25,000 to help pay for training.

The program also provides training funds for small companies creating new jobs, including assistance for screening, skill assessment, testing and custom designed training programs.

Upon providing documentation of completed training/retraining and the cost, the company is eligible to receive reimbursement for these costs.

Southwestern Community College administers the program for The Iowa Department of Economic Development (IDED) to serve businesses and industries in Area XIV.

For additional information call Tom Lesan, Vice President for Economic Development at (641) 782-1443 or e-mail him.

Iowa Industrial New Jobs Training Program (260E)

In 1983, the Iowa General Assembly adopted the Iowa Industrial New Jobs Training Act, Iowa Code Chapter 260E. The purpose of the Act was to provide an economic incentive to new or expanding businesses and industries in the state.

The community colleges administer the program for businesses and industries in their service area. Southwestern Community College actively participates with area economic development groups in strengthening our area's economy.

How is the program funded?

Southwestern Community College has the ability to issue federally tax-exempt and taxable certificates on behalf of the industry. Proceeds from the sale of the certificates are held by Southwestern until the actual training programs are completed. The company is then reimbursed after providing documentation of the actual training cost.

The bonds are repaid by diverting funds from two different tax sources: state withholding taxes and local property taxes.

A portion of the state withholding taxes on new employees' wages are diverted from the state to the community college; and

Local property tax receipts from the business' new capital investment are diverted through the creation of a tax increment financing (TIF) district.

Both of these funding sources involve monies that would be paid in any event and are not additional taxes to the company.

Who is eligible?

Businesses and industries engaged in interstate or intrastate commerce for the purpose of:

• Manufacturing, processing, or assembling products
• Conducting research & development
• Providing services in interstate commerce

Retail, health, or professional services are excluded. An industry that reduces or closes its operations in one area of the state and relocates the same operation in another area does not qualify.

For additional information contact Tom Lesan, Vice President for Economic Development at (641) 782-1443 or e-mail him at lesan@swcciowa.edu.