Marshalltown is currently targeting companies from the below industries. Expand each industry for more context.
Marshalltown has a strong manufacturing sector, focusing on durable goods such as machinery and equipment. This industry benefits from the city's skilled workforce and strategic location for distribution.
The healthcare sector in Marshalltown serves as a major employer and is crucial for the local economy, providing a wide range of services from hospitals to social assistance programs. It is vital for both the well-being of the population and the economic stability of the region.
Retail trade plays a significant role in Marshalltown's economy, offering a variety of shopping experiences from local boutiques to national chains. This sector supports local employment and contributes to the city's tax base.
Marshalltown Economic Development Team
Ken Anderson
President
Marshalltown Area Chamber Of Commerce
Taxes in Marshalltown, IA
Sales Tax: The sales tax rate is 7%, equivalent 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, with an average rate of approximately 1.5%, or $1.50 per $100 of assessed value.
More comprehensive tax data for Marshalltown is coming soon!
Featured Profiles
Business and Tax Incentives in Marshalltown, IA
Marshalltown 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, exemptions, and/or refunds to offset the cost of job creation. It aims to encourage businesses to create high-quality jobs by offering incentives tied to salary benchmarks and capital investment.
Targeted Small Business (TSB) Financial Assistance Program
This program is aimed at supporting businesses in Iowa that are 51% or more owned, operated, and actively managed by women, individuals with minority status, service-disabled veterans, or individuals with disabilities. It offers financial assistance in the form of loans and grants to help these businesses start or expand within the state.
Iowa New Jobs Training Program (260E)
Designed to assist businesses that are creating new positions within the state, this program offers flexible funding to cover training costs for new employees. The funding is generated through bonds, with the debt service paid by diverting the state income tax withholdings of the new employees.
Reviews
Let’s see what local businesses have to say about doing business in Marshalltown.
FAQs about Marshalltown, IA
Marshalltown has a diverse economic landscape with thriving sectors in manufacturing, specifically in durable goods like machinery and food processing, healthcare and social assistance, and retail trade. These industries benefit from a skilled workforce, strategic location, and supportive economic development programs.
Marshalltown supports new business startups through various programs and initiatives, including the Targeted Small Business (TSB) Financial Assistance Program designed for businesses owned by women, minorities, service-disabled veterans, or individuals with disabilities. Additionally, the Iowa New Jobs Training Program (260E) offers flexible funding to cover training costs for new positions, aiding startups in their initial growth phase.
The main advantages of locating a business in Marshalltown include its strategic Midwest location with easy access to major highways, a diverse and skilled workforce, competitive wages and living costs, and a supportive business climate fostered by local economic development organizations. The city's quality of life and strong community amenities also make it an attractive place for businesses and their employees.
Yes, businesses in Marshalltown can benefit from tax incentives such as those offered through the Iowa Economic Development Authority (IEDA) High Quality Jobs Program, which provides tax credits, exemptions, and/or refunds to businesses that create high-quality jobs, meeting certain salary benchmarks and capital investment criteria.
Businesses in Marshalltown can access financial assistance through programs like the Iowa New Jobs Training Program (260E) and the Targeted Small Business (TSB) Financial Assistance Program. Additionally, local economic development organizations, such as the Marshalltown Area Chamber of Commerce and the Marshall Economic Development Impact Committee (MEDIC), can provide guidance and support in identifying and applying for suitable financial assistance options.
Small businesses in Marshalltown have access to various resources including financial assistance programs like the TSB Financial Assistance Program, training and development through the Iowa New Jobs Training Program, and support from local economic development organizations. The Marshalltown Area Chamber of Commerce also offers networking, marketing, and educational opportunities to help small businesses grow.
Marshalltown fosters innovation and entrepreneurship through its supportive business climate, access to educational resources at Marshalltown Community College, and programs aimed at startups and small businesses. The city's economic development organizations play a key role in creating an environment conducive to innovation by facilitating access to funding, training, and networking opportunities.
McKinney offers an inviting landscape for businesses to prosper while enjoying the city's unique blend of heritage and business growth.
Sponsored
Decatur, TX
4.24
(21)
Claimed Profile
Population: 6,557
Median Income: $66,034
This centrally-located north Texas community provides a high quality of life and business-friendly environment, with a skilled workforce, affordable real estate, and strong infrastructure to support corporate operations and growth.
Sponsored
Allen, TX
4.11
(9)
Claimed Profile
Population: 102,778
Median Income: $118,254
This thriving Dallas-Fort Worth suburb offers a robust business climate, access to a highly educated workforce, and a family-friendly community with abundant shopping, dining, and recreational amenities to support corporate success and employee well-being.
Sponsored
Edinburg, TX
Claimed Profile
Population: 98,759
Median Income: $52,773
Strategically situated in the Rio Grande Valley, this fast-growing community provides a pro-business climate, skilled labor pool, and dynamic quality of life to attract corporate investment.
Sponsored
Farmers Branch, TX
4.4
(5)
Claimed Profile
Population: 36,091
Median Income: $77,306
Farmers Branch offers all the perks of being located in a major city while still maintaining a small-town feel. Farmers Branch is home to over 4,000 companies, including 250 corporate headquarters.