Pro-Business Legislation: Historic Tax Credits

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Business and politics go hand in hand.

Like a relay team at a track meet; politics hand the baton off to the community, to business, and they take it on home to the finish line.  Each one is integral and both encompass a lot of moving parts, but one cannot accomplish anything without the other.

Whether you are a Republican or a Democrat or apathetic towards politics, there are no doubts that the key decisions being decided at the local, state, and national level shape our economic development individually and as a community.

As a community, we got a boost on April 26, 2009 as the Iowa General Badgerow_Building_400x600Assembly came to a close.  Before they adjourned, they were able to approve funding that provides Siouxlanders more dollars for local projects to move forward. Such as, the Badgerow Building located in the heart of downtown Sioux City.

This building has over 110,000 square feet and twelve floors which could be ideally suited for medical offices, finance corporate headquarters, a call center or a data center.  The benefits of this renovation are substantial, but the most obvious one will be the possible creation of new, high paying jobs for Sioux City.

The Siouxland Chamber of Commerce strongly believes that these historic tax credits provided a “green” policy for not only Siouxland, but the great state of Iowa as well.  The credits opened up accessible money for projects in Iowa from $20 million to $50 million.  This increase in funds will be noticeable all around Siouxland as you’re going to a movie, taking a stroll by the river, or enjoying a night out with friends and family.  The money allocated to Siouxland will focus on the renovation of once upon a time grandeur buildings in need of a make over.

Barbara Sloniker, Vice President of Government Relations & Transportation had this to say about the tax credits:

“There are several historic buildings in downtown Sioux City that will now be able take advantage of historic tax credits. It will allow buildings that are vacant or underused to be restored, providing increased property values, skilled jobs for local craftsmen, and architecturally charged spaces.”

This rise in credits is more than a 100% increase in funding for Iowa and this means more jobs, infrastructure, and revenue for our great area.  Businessman and lawmakers alike believe this boost will provide Siouxlanders with better opportunities and a better quality of life for them and their families.  Enjoy the day and rest assured our economy is growing and we’re on the right track.  Have a great day Siouxland!

2 Responses to “Pro-Business Legislation: Historic Tax Credits”

  1. wade

    Well put. Now maybe now we can keep some of the jobs here in sioux city.

    • Siouxland Chamber

      Yes, that is the plan. Hopefully, we will be able to bring in some more highly lucrative jobs to support the one’s we already have. It’s great to watch the community grow. Thanks for posting a comment Wade, glad to have you as a reader!