Technology Investment Incentives
Iowa's Support for Manufacturing 4.0 Operations
Iowa recognizes the need to help manufacturers incorporate innovative technologies to ensure they continue to remain globally competitive. To boost and ease the transition to increasingly digital operations and functionality, Iowa companies can leverage targeted Manufacturing 4.0 resources.
Manufacturing 4.0 Technology Investment Grant Program
- Manufacturing Innovation Equipment Grants - Eligible companies can apply for grants up to $50,000 for the purchase of specialized equipment aimed at helping manufacturers increase productivity, efficiency and competitiveness.
- Manufacturing Industrial Internet of Things (IIoT) Infrastructure Investment Grants - Eligible companies can apply for grants up to $25,000 for the purchase of specialized hardware or software in the Industry 4.0 technology groups.
Through Iowa's participating lenders, the Iowa Economic Development Authority helps offset the risk in accessing capital for manufacturers to make the transition to Industry 4.0 technologies.
Fully-integrated cyber-physical environments require investments in workforce training and development. A skilled workforce, combined with the strategic technology of Manufacturing 4.0, will enhance productivity and set the path toward continued growth. To successfully implement Manufacturing 4.0 technologies, Iowa manufacturers can address their workforce with re-training and up-skilling opportunities.
Iowa's state's tax code conforms with the federal government's allowance for all businesses to declare bonus depreciation on equipment and capital assets in the first year.
- On June 16, 2021, Governor Kim Reynolds signed into law Senate File 619, which updates the state's tax code. The legislation retroactively conforms state tax code with the federal bonus depreciation for capital assets, such as equipment, that were placed into service on or after January 1, 2021. Federal bonus depreciation is currently available at 100% of asset cost.