This bill establishes the Headquarters Expansion and Development for Growth and Employment (EDGE) Program in Iowa, aimed at enhancing economic development through tax incentives for eligible businesses. The program targets sectors such as advanced manufacturing, bioscience, and technology, requiring businesses to generate a significant portion of their revenue outside Iowa and provide comprehensive employee benefits. The bill also includes a qualifying wage tax credit based on the wages of new and retained jobs, while mandating that businesses demonstrate a commitment to job creation and capital investment without merely relocating operations within the state.

In addition to creating the EDGE Program, the bill repeals existing programs like the new jobs tax credit and the major economic growth attraction program, while introducing new provisions for load forecasting and electric transmission system expansion. It establishes a training fund to reimburse eligible businesses for training expenses, with specific criteria for eligible costs. The Iowa Utilities Commission is tasked with overseeing load forecasting and system expansion plans, and the bill modifies the Iowa Industrial New Jobs Training Program by limiting cost deferrals and requiring community colleges to report on program costs. An interim study committee is also proposed to review the new jobs training program, with a report due by December 15, 2026.

Statutes affected:
Introduced: 423.3, 422.60, 533.329, 15.501, 15.506, 422.11A, 476.2, 476.20, 15.120A, 260E.3, 260E.7, 260E.5