Davenport is currently targeting companies from the below industries. Expand each industry for more context.
Davenport, IA, has a strong manufacturing base, with a focus on heavy machinery and equipment. This sector benefits from the city's strategic location and skilled workforce, contributing significantly to its economy.
This sector is a major employer in Davenport, providing a wide range of health services and contributing to the community's well-being. It includes hospitals, clinics, and social services organizations.
Retail trade plays a crucial role in Davenport's economy, offering a diverse range of shopping experiences from local boutiques to large shopping centers. This sector supports local employment and meets the community's needs.
Davenport Economic Development Team
Rita Pribyl
Senior Manager Community Planning & Economic Development
City Of Davenport
Susanne Knutsen
Economic Development Manager
City Of Davenport
Taxes in Davenport, IA
Sales Tax: The sales tax rate is 7%, which equates to $7 per $100.
Corporate Income Tax: The corporate income tax rate ranges from 6% to 9.8%, translating to $6 to $9.8 per $100 based on income brackets.
Property Tax: The property tax rate varies widely, but for an example, a rate could be approximately 2.5%, or $2.50 per $100 of assessed value.
More comprehensive tax data for Davenport is coming soon!
Featured Profiles
Business and Tax Incentives in Davenport, IA
Davenport offers a variety of economic incentives to help businesses at the local, state, and federal level.
High Quality Jobs Program
This state-level incentive provides qualifying businesses tax credits and direct financial assistance to off-set some costs incurred to locate, expand, or modernize an Iowa facility. It is aimed at businesses which create new jobs and enhance employee quality of life.
Enterprise Zone Program
The Enterprise Zone Program is designed to stimulate economic growth in designated areas through state and local tax benefits and incentives to businesses that invest and create jobs within those zones. Eligible projects can receive benefits such as property tax exemptions and investment tax credits.
Iowa Economic Development Set-Aside Program
This program provides financial assistance to businesses and industries requiring assistance to create or retain job opportunities in Iowa. Assistance is provided in the form of loans and/or forgivable loans based on job creation, capital investment, and the financial need of the applicant.
Reviews
Let’s see what local businesses have to say about doing business in Davenport.
FAQs about Davenport, IA
Businesses in the manufacturing, healthcare, and retail sectors can significantly benefit from Davenport's economic incentives, particularly those planning to create new jobs, expand or modernize facilities. Additionally, technology and service-based companies may find the city's incentives and skilled workforce appealing.
Companies interested in the High Quality Jobs Program must submit an application through the Iowa Economic Development Authority (IEDA) website, detailing their project, investment, and job creation plans. It's advisable to also contact local economic development organizations in Davenport for guidance and support throughout the application process.
To qualify for the Enterprise Zone Program in Davenport, a business must be located within a designated enterprise zone and meet certain criteria such as making a minimum investment amount and creating or retaining a specified number of jobs. Detailed requirements are available on the Iowa Economic Development Authority's website.
Yes, small businesses in Davenport can access financial assistance through various programs such as the Iowa Economic Development Set-Aside Program, which offers loans and forgivable loans. The city's economic development organizations also provide resources and support tailored to small business needs.
Startups in Davenport have access to a range of resources including incubator programs, networking events, and mentorship opportunities through local organizations such as the Quad Cities Chamber of Commerce and the Downtown Davenport Partnership. Additionally, financial incentives and workforce development programs can help startups grow and succeed.
Davenport supports workforce development through educational institutions like St. Ambrose University, Palmer College of Chiropractic, and Scott Community College, which offer specialized programs aligned with local industry needs. The city also collaborates with economic development organizations to provide training and resources to enhance the skills of the workforce.
Davenport's strategic location along the Mississippi River, access to major highways, and skilled workforce make it an attractive location for manufacturing businesses. The city's strong manufacturing base, combined with available economic incentives and a supportive business environment, further enhances its appeal.
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