Fairfield is currently targeting companies from the below industries. Expand each industry for more context.
Fairfield, IA, has a strong foundation in advanced manufacturing, focusing on innovative production techniques and technologies. This sector is vital for the local economy, providing high-value jobs and contributing significantly to exports.
The region around Fairfield is rich in agricultural production, making agriculture and food processing key sectors. They leverage the area's agricultural outputs, focusing on sustainable practices and value-added products.
Fairfield is increasingly focusing on renewable energy and sustainability, aiming to become a leader in green technologies. This sector includes businesses involved in solar energy, wind power, and sustainable building practices.
Fairfield Economic Development Team
Ed Malloy
Executive Director
Grow Fairfield Economic Development Association
Taxes in Fairfield, 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 12%, translating to $6 to $12 per $100 depending on the income bracket.
Property Tax: The property tax rate varies widely, but for illustrative purposes, if the rate is approximately 1.5%, this would be $1.50 per $100 of assessed value.
More comprehensive tax data for Fairfield is coming soon!
Featured Profiles
Business and Tax Incentives in Fairfield, IA
Fairfield offers a variety of economic incentives to help businesses at the local, state, and federal level.
Iowa Economic Development Authority (IEDA) High Quality Jobs Program
This program provides qualifying businesses tax credits and direct financial assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility. It is designed to encourage job creation and capital investment by offering a tailored package of tax credits, exemptions, and/or refunds.
Iowa New Jobs Training Program (260E)
The 260E program is designed to provide funding assistance to businesses expanding their workforce. Through this program, businesses can receive new employee training, funded through bonds sold by Iowa's community colleges, with the debt service paid by diverting the state income tax withholding for the new positions.
Targeted Small Business (TSB) Program
This initiative is aimed at supporting women, individuals with minority status, service-disabled veterans, and individuals with disabilities who own and operate small businesses in Iowa. The program offers financial assistance, including loans and grants, as well as technical support and business development resources to help these targeted small businesses grow and succeed.
Reviews
Let’s see what local businesses have to say about doing business in Fairfield.
FAQs about Fairfield, IA
Businesses in advanced manufacturing, agriculture and food processing, renewable energy, sustainability, technology, and the arts scene are particularly successful in Fairfield. The city's supportive ecosystem for entrepreneurship also encourages growth in innovative startups.
Businesses in Fairfield can benefit from the High Quality Jobs Program by receiving tax credits, exemptions, and refunds to help offset costs associated with locating, expanding, or modernizing a facility in Iowa. This program is designed to foster job creation and capital investment, providing a tailored package to qualifying businesses.
Small businesses in Fairfield can access support through the Targeted Small Business (TSB) Program, which offers financial assistance, including loans and grants, along with technical support and business development resources. This program specifically targets women, minorities, service-disabled veterans, and individuals with disabilities who own and operate small businesses.
Yes, the Iowa New Jobs Training Program (260E) provides funding assistance for businesses expanding their workforce in Fairfield. This program allows businesses to receive new employee training funded through bonds, with debt service paid by diverting state income tax withholding for the new positions.
Fairfield's innovative business incubators, a supportive community of entrepreneurs, and a focus on technology-based industries make it an attractive location for startups and technology companies. The city's diverse and educated workforce, along with strategic programs designed to foster growth and innovation, also contribute to its appeal.
Fairfield supports the renewable energy and sustainability sector through its focus on green technologies, including businesses involved in solar energy, wind power, and sustainable building practices. The city aims to become a leader in renewable energy and sustainability, promoting environmentally friendly business practices and technologies.
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