Red Oak offer a number of State and Local Economic Development Incentives as listed below.
State Incentives Include:
- No personal property tax on inventory
- Single factory corporate income tax (no corporate tax on goods manufactured in Iowa bust sold outside of Iowa).
- No property or sales tax on new industrial machinery and equipment.
- State financial assistance programs (grants and forgivable loans).
- Customized state subsidized employee training programs.
- New Jobs Tax Credit
Local Incentives Include:
- Enterprise zone benefits.
- Property tax abatement.
- Tax Increment financing (unless tax abatement given).
- Premier building sites that are spade ready. Full utility accessibility with 1 ½—200 acre sites with city owned sewer and water mains with gas and electric service provided by Mid American Energy.
- Experienced personnel with over 50-years of service in assisting with plant locations.
- Centralized Midwest location.
- Omaha—50 miles
- Des Moines—115 miles
- Kansas City—150 miles
- Milwaukee—487 miles
- Chicago—456 miles
- Located on US Highway 34 and State Highway 48.
- Local airport with two paved runways of 2900 and 5100 feet.
- Located on the mail line of the Burlington Northern Santa Fe Railroad.
- Local Corporation that will build to suit on a lease basis or lease to purchase.
- Technology building available for training of personnel.