This bill outlines appropriations for Iowa's economic development for the fiscal year 2025-2026, targeting various state agencies such as the Economic Development Authority, Iowa Finance Authority, Department of Workforce Development, and the State Board of Regents. The primary objectives include expanding the state economy, increasing wealth and population, and creating a supportive environment for businesses and entrepreneurs. Key allocations include $12,999,646 for the Economic Development Authority, $873,000 for a rent subsidy program, and $550,000 for a housing renewal pilot program, which is notably not repealed as previously planned. The bill emphasizes public-private partnerships and mandates that financial assistance to businesses must comply with employment requirements for U.S. citizens or authorized workers.

Additionally, the bill appropriates $11.7 million for the high-quality jobs program and supports various initiatives, including the manufacturing 4.0 technology investment program and the empower rural Iowa program. It amends existing appropriations for operational support grants and community cultural grants, reducing the annual allocation from $520,000 to $448,403. The housing renewal pilot program is extended by removing its repeal date, and the standing appropriation to the Economic Development Authority from gambling game tax receipts is decreased. Overall, the bill aims to enhance economic development, workforce preparation, and educational initiatives across Iowa.

Statutes affected:
Introduced: 15.313, 99F.11, 505.7