Business Assistance and Opportunities

• Many quality goods and services
• Excellent business reputation
• An active retail community works together to provide sales promotions
• Courteous personal service
• Several small industries
• Several choice sites are available for industrial expansion. Utilities and access are in place at most of the sites.

Demographic Information (pdf)
Map of Downtown Businesses (pdf)
Executive Summary (pdf)

The Sac Development Corporation, cooperating with the Chamber-Main Street Sac City, City of Sac City, and the Sac County Economic and Tourism Development, have unified their efforts to support and encourage business and industrial growth. Inquiries, tours and site inspections will be arranged by request. The City has participated in providing economic development incentives and assisted in acquiring incentives through state and federal programs.

Business and Industry Incentives

Strategically located in Northwest Iowa, Sac City can take advantage of the new programs for economic and industrial development initiated by the State of Iowa. A brief synopsis of major incentive follows. For a full listing and description of the available programs, contact:

Iowa Department of Economic Development
200 East Grand Avenue
Des Moines, IA 50309

Single Factor Corporate Income Tax
Iowa is the only state with a single factor corporate income tax, meaning only the profits from products sold for delivery in the state are taxed.

Deduction of Federal Tax
In Iowa, half of the federal income tax on corporations can be deducted from net income to arrive at the state's taxable income. For personal income tax, 100% of the federal income tax is deducted.

Tax Abatement
In Iowa, cities and counties are allowed to give industries tax exemptions for the actual value added industrial real estate through new construction and through buying or improving machinery and equipment assessed as real property. Both the City of Sac City and Sac County have such programs in force.

Sales and Use Tax
The repeal of sales and use tax on business equipment, machinery and computers is an added incentive for new industry.

Industrial Training
The Iowa Workforce Development Center provides on the job training and other services that may be necessary to train employees. An employer may be reimbursed for 50% of the new employees wages during this training period. All firms that manufacture products or provide services in interstate commerce are eligible.

Grants
The City of Sac City is active in applying for grants applicable to business and industry and their development and expansion. In addition, the city, as well as the county, has its own revolving loan fund program resembling state and federal programs.

Commercial Development Incentives

GAP Financing is available through both a county and city loan pool.

Low Interest Sac County Revolving Loan Fund
The Region XII Council of Governments has established a loan fund, which is used to encourage the development of new businesses and assist with the expansion or retention of existing businesses in a six county area. Loan applications will be considered for manufacturing, service, commercial, and/or retail businesses that plan to locate or expand in this area. Interest rates and loan terms will be determined for each project individually, and on the basis of need. The maximum term for this type of loan is ten years. The minimum loan request amount is $5,000, while the maximum loan request is $87,500. Security is required, and can be established through mortgages, UCC filings, equity assignments, etc. All applicants will be required to provide personal guarantees as well. Priority consideration is given to businesses that employ less than 20 individuals, as businesses in the size group receive less consideration for funding by state and federal programs.

Low Interest Sac City Revolving Loan Fund
The City of Sac City has established, through its gas utility, a pool of funds to be utilized as a revolving loan fund account. These funds are to assist and encourage the development of new businesses and industry through expansion or retention.

Loan applications will be considered for industrial business, service, or retail, which plan to locate or expand in Sac City. The interest rate and term of loan will be determined on a project-by-project basis. However, historically, the term has been ten years, with a five year balloon and interest rate in the six percent area. There is no minimum loan amount and the maximum loan request is $75,000. The City does require security through mortgages, UCC filings, or other, as deemed acceptable by the Revolving Loan Fund Committee. All applicants will be required to provide personal guarantees and financial statements. These funds may be used to piggy back with other funds, conventional financing, or business/industry development loans made through the state or federal government.

Chamber-Main Street Sac City Revolving Loan Fund
Chamber-Main Street Sac City has received a RACI (Revitalization Assistance for Community Improvement) Grant through the Prairie Meadows Racetrack and Casino and has established a revolving loan fund of $22,500, to be used for structural, façade and other building improvements in the commercial business district. The loan fund will enable property owners to make a variety of necessary improvements in their buildings to preserve and/or restore them to good condition. Because the loan fund is designed to provide financial incentives for property owners to make these improvements to their buildings, the loans are made at 0% interest rate. As a designated Main Street Community, Sac City also encourages commercial development by assisting new and/or established businesses with the following incentives: Business Planning, Visual Merchandising Training, Customer Relations Training and Design Recommendations (façade and interior) for proper historic aesthetics.

Community Betterment Sign Grant
The Sac City Community Betterment Committee has a program designed to assist building owners or tenants with improvements to signs and awnings through a grant process.
Business Services

Business services capable and determined to assist the local trade establishments and industry

Financial Institutions and Professional Services - Three local banks and 1 branch bank provide financial services to Sac City and the surrounding area. These institutions pride themselves on being progressive, supportive and creative in working with business/industry. Accounting firms, law firms, insurance, real estate agencies serve both personal and business needs.

Media - Sac City prints a weekly newspaper and shoppers guide. Several major newspapers are also available on a daily schedule. The community is served efficiently by a number of radio stations within a 50 mile radius, as well as major radio stations in the state. The major commercial television networks and public broadcasting are represented by Des Moines and Sioux City. Cable television, with full compliment of movies, sports, music and variety programming, is also available.

Chamber-Main Street Sac City - Go to the About Us page to learn more about Chamber-Main Street Sac City.

Retail - The Sac City retail community prides itself on the availability of goods and personal services. Periodic sales promotions stimulate the people in the surrounding area to shop locally.

Agricultural Services - Sac City serves as the seat of several government agricultural offices, as well as having a number of ag related businesses and services.

Lodging and Restaurants - One motel with a total of 14 rooms is located in Sac City. A number of bed and breakfast establishments are located in Sac City and elsewhere in the county. A complete variety of restaurants, banquet facilities and specialty cafes are also available.

County Economic Development Office - The Sac County Economic and Tourism Development (SETD) office is located in Sac City and provides assistance with available state grants, loans and employment programs for businesses/industries. The office assists in building the site location, prospect contact the visits, and works with individual communities and development groups in putting together financial packages and incentives. They also assist all the cities in the county with community development and infrastructure.