Mason City is currently targeting companies from the below industries. Expand each industry for more context.
Mason City has a strong manufacturing sector that includes food processing, machinery, and building materials. This sector benefits from the city's strategic location and its skilled workforce.
The healthcare sector in Mason City is a major employer and includes a wide range of services from hospitals to long-term care facilities. This industry is crucial for the local economy and provides numerous job opportunities.
Retail trade serves as a vital component of Mason City's economy, offering a variety of shopping experiences and supporting local businesses. This sector caters to the needs of the community and attracts shoppers from surrounding areas.
Mason City Economic Development Team
Shaun Arneson
Vice President, Existing Business & Project Management
North Iowa Corridor Economic Development Corp.
Chad Schreck
President & Ceo
North Iowa Corridor Economic Development Corp.
Taxes in Mason City, IA
Sales Tax: The sales tax rate is 7%, which equates to $7 per $100.
Corporate Income Tax: The corporate income tax rate varies from 6% to 9.8%, translating to $6 to $9.8 per $100 depending on the income bracket.
Property Tax: The property tax rate is approximately 2.03%, amounting to $2.03 per $100 of assessed value.
More comprehensive tax data for Mason City is coming soon!
Featured Profiles
Business and Tax Incentives in Mason City, IA
Mason City offers a variety of economic incentives to help businesses at the local, state, and federal level.
Iowa New Jobs Training Program (260E)
The 260E program provides customized training to new employees of eligible businesses that are expanding Iowa’s workforce. It is funded through bonds sold by community colleges, with the debt service paid by diverting the new employees' state income tax withholdings.
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.
Targeted Small Business Financial Assistance Program
This program is designed to help women, individuals with minority status, service-connected disabled veterans, and individuals with disabilities start and grow small businesses in Iowa. It offers loans, grants, and technical assistance to qualified businesses.
Reviews
Let’s see what local businesses have to say about doing business in Mason City.
FAQs about Mason City, IA
Mason City fosters a supportive environment for startups and small businesses through various initiatives and programs. The Targeted Small Business Financial Assistance Program, for instance, provides financial aid and technical assistance to help these businesses start and grow. Additionally, local economic development organizations offer resources and networking opportunities to further support small businesses.
Mason City's strategic location in the Midwest, with easy access to major highways and proximity to large city centers, makes it an ideal spot for manufacturing businesses. The city's skilled workforce, supportive business climate, and strong existing manufacturing sector, including food processing and machinery, further enhance its appeal to businesses looking to establish or expand their operations.
Yes, businesses looking to relocate or expand in Mason City can benefit from several incentive programs. The Iowa Economic Development Authority High Quality Jobs Program offers tax credits and direct financial assistance, while the Iowa New Jobs Training Program (260E) provides customized training for new employees. These programs are designed to support job creation, workforce development, and capital investment in the area.
Companies interested in the healthcare sector in Mason City have access to a robust healthcare infrastructure, including major employers like MercyOne North Iowa Medical Center. The city's focus on healthcare and social assistance as a key industry means there are ample opportunities for collaboration, innovation, and growth. Additionally, local economic development organizations can provide industry-specific resources and assistance.
Mason City promotes economic development and growth through the efforts of the Mason City Chamber of Commerce and the North Iowa Corridor Economic Development Corporation. These organizations work to attract new businesses, support existing companies, and enhance the city's overall economic prosperity. Initiatives include business incentives, workforce development programs, and marketing Mason City's strategic advantages to potential investors and entrepreneurs.
Mason City offers a vibrant retail landscape that caters to a wide range of shopping preferences, from local boutiques to national chains. The retail sector is an essential component of the city's economy, providing diverse shopping experiences and supporting local businesses. Retailers in Mason City benefit from a strong local market and the potential to attract shoppers from surrounding areas.
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