This program is designed to create high-quality jobs by doubling the withholding credit for companies participating in the Iowa New Jobs Training Program. Starting wages must be at least the county average or regional average wage, whichever is lower. Eligibility for the credit is based on a one-time determination by the community college of the starting wage.

New Jobs Tax Credit:

Businesses entering into an agreement under the state's training program, and which increase workforce by at least 10 percent, may qualify for this credit to their Iowa corporate income tax. This credit is equal to 6 percent of the state unemployment insurance taxable wage base. The credit for 2001 is $1,074 per new employee. The tax credit can be carried forward up to 10 years.

Workforce Development Fund:

Programs under this fund provide training for new and existing employees and include:

• Iowa Jobs Training
• Business Network Training
• Targeted Industries Training
• Innovative Skills Development

For more information on these training programs, eligibility requirements and application procedures, contact the Iowa Department of Economic Development (515-242-4700 or info@ided.state.ia.us) or Des Moines Area Community College (515-964-6397 or dbr@dmacc.org).