Friday, December 03, 2004

Iowa Tax Credits for Communities

Two new initiatives discussed at the Community Collaboration in Spencer, Iowa this week have the possibility to help transform small towns and counties throughout Iowa. And, they will be jump started with state tax credits, allowing local people to take some of their taxes to directly help their region.

The Regional Angel Investor Network (http://www.rainstreet.com/) will help regions in Iowa to fund entrepreneurs in their areas. As I’ve written before, I believe that the start-up and recruiting in of entrepreneurs will be the paradigm shift of economic development in the 21st Century. Iowa gets it and is doing something about trying to help fund entrepreneurs.

Another new program in the state is Endow Iowa (http://www.iowasmartidea.com/--/endowiowa) which also uses state tax credits to help start Community Foundations like the one I was at in Winfield, Kansas a few weeks ago. We are going to witness the largest transfer of wealth in the history of the USA and communities that have the vehicle of a Community Foundation to recirculate these funds will be able to do good things forever for their local citizens.

Iowa understands the importance of “place” and is looking at ways to keep their small towns functioning and flourishing for decades into the future.


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