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Business Incentives & Development Tools

Tax Abatement Program

Norwalk offers tax abatement for both new and existing commercial and industrial developments, offering significant savings for nearly every development.

Tax Increment Financing (TIF)

Norwalk has the ability to use TIF as a means to incentivize large commercial projects with high value. The City of Norwalk is very flexible and creative when using this tool to assist new developments.

TIF may be available for commercial projects in undeveloped commercial areas. Projects may qualify for up to 20 years of 80% TIF rebate from the new increment the project creates.

"First-In" Commercial Development Incentive

New companies or local expansion of an existing company, may receive special consideration with regards to incentives if they are the first constructed non-residential development in a larger planned new TIF district within Norwalk’s urban renewal area. Eligible projects must be the first development to be constructed in a larger planned development where the infrastructure is built to primarily serve commercial projects. The project must include new infrastructure to the site that will ultimately aid in the attraction of additional future commercial projects and “make shovel ready” the overall development.

Incentives may consist of a relaxed ROI with a maximum of twenty years, an 80% tax rebate through Tax Increment Financing, from the available increment generated from the new project. Developers agreeing to pay for all infrastructure costs with zero “upfront” cash paid by the City may potentially receive 100% up to the full 20-year rebate period.

Eligible projects may also qualify for “upfront” grant funds if the developer constructs infrastructure that will also serve additional parcels for future commercial developments. “Upfront” means payment will be provided after the infrastructure is constructed and accepted by the City and prior to taxable value created.


High Quality Job Grant Program

The City of Norwalk provides funds for each new high quality position created for qualifying projects. The max grant amount a company could qualify for is $30,000.

Companies may receive $1,000.00 per full-time position with qualifying wages based on the State of Iowa’s HQJ wage threshold, up to 20 positions. This threshold is derived from the bi-annual Labor shed report the State of Iowa administers. $500.00 per new full-time position that does not meet the State wage threshold will also be available, for up to 20 positions. A minimum of five positions must be created and filled at the same time to qualify. There is a cap of 40 jobs total for each company that qualifies for the incentive (20 jobs that meet the threshold/$1000 each, 20 jobs that don’t meet threshold/$500 each).

Companies that qualify for the HQJ incentive program will receive 50% of the total grant at the start date of the new positions in Norwalk, and the remaining 50% on the two year anniversary of the start date for each original position that has been maintained and still in existence at that time.

Commercial Improvement Grant Program

The City of Norwalk has available grant funds for qualifying projects and building owners to receive up to $25,000 for building & facade improvements to existing commercial buildings.

Interior improvements are eligible if exterior improvements are also being made at the same time, or the interior improvements increase the overall value or structure of the building. Funds can also be used to convert residential buildings into commercial-only use. Existing local businesses that are expanding their operations or facilities, including building a new facility, are also eligible.

Veterans or a veteran spouses may receive additional funds, up to $5,000 to use towards opening a new business or physically expanding an existing business.

Veterans Opportunities

Through the State of Iowa and the Iowa National Guard, the Home Base Iowa program was created in 2015 to recruit veterans to move to Iowa and assist them in finding full time employment. The program has many benefits for veterans who are recently separated from the military or recently returning from deployments.


Norwalk and Warren County are Home Base Iowa Communities which adds to the statewide benefits package for veterans who move to, or work in Norwalk. Many of Norwalk’s businesses are committed to hiring veterans and regularly post available positions.


For more information about this program visit Home Base Iowa Veterans Resources.


State of Iowa and Warren County Programs

Our team will help you access additional resources including Business Property Tax Credits, High Quality Jobs Grants, and various regional economic development programs.

  • Business Property Tax Credit
    The Business Property Tax Credit is part of the overall 2013 property tax reform bill. This credit is available for certain commercial, industrial and railroad properties. The credit is applicable to individual parcels as well as “property units.” One credit is available for each qualified parcel or property unit.

Utility Rate Incentives:

  1. MidAmerican Energy’s Commercial New Construction program provides complimentary energy design assistance and financial incentives to help offset the cost of implementing energy-efficient strategies. To participate, customers must meet with MidAmerican Energy representatives at the start of the building design and equipment specification process. Visit https://www.midamericanenergy.com/cnc for more details.
  1. Green Advantage – MidAmerican Energy’s GreenAdvantage® program allows Iowa Customers to claim a verified renewable energy amount to help them reach their sustainability goals. https://www.midamericanenergy.com/green-advantage

Success Stories: Norwalk in Action

Manufacturing Excellence

Norwalk has already attracted significant manufacturing investments, including Windsor Windows and Michael Food's.

Michael Foods recently completed an expansion project, adding 138,000 SF to the current facility, 186 new FTEs, and a $146M private investment. Michael Foods was also awarded the State of Iowa’s ‘Economic Impact Award’ for 2024, a coveted recognition they have now won twice for their Norwalk facility.

These industry leaders chose Norwalk for our strategic location and business-friendly environment.