Mason City, Iowa
The Mason City, Iowa BDO Zone for Corn Stover is rated ‘A’.
Rating Issue Date: July 16, 2024.
'A' ratings denote high prospective viability of Feedstock Supply and Infrastructure and low expectations of default risk in the Zone. Capacity to support new biobased plant operations is considered strong.
Mason City, IA, BDO Zone Overview
Feedstock quantities are expressed in bone dry tons per year (bdt/yr), while feedstock costs are expressed in United States Dollars (USD). Maximum transport distance is based on a 75-mile driving distance from the centre point (Mason City, IA).
BDO Zone Assets
- Large quantities of low-risk corn stover available in the BDO Zone to new projects.
- High yielding corn region that warrants long-term corn stover supply.
- Corn producers willing to participate under mutually beneficial agreements.
- No significant competition for corn stover.
- Greenfield site in an industrial park with all utilities available capable of accommodating multiple projects.
BDO Zone Liabilities
- Corn stover harvesting, collection and transportation equipment currently insufficient and unsuitable to supply the rated quantity.
- Limited experience of producers supplying the rated quantity.
- Severe droughts and Derechos can significantly impact grain yield.
- Prolonged rain periods in the fall can drastically restrict stover collection and storage logistics.
Infrastructure
- Indianhead South is a 145 acre site conveniently located within one (1) mile of the Avenue of the Saints (US 18/IA 27) and easy access to Interstate 35, eight miles away. This certified shovel-ready site is located within the corporate limits of the City of Mason City. This site has all major utilities with necessary capacities to meet requirements of major industrial, warehouse & distribution, food processing, etc. businesses. With all environmental and engineering studies completed, it makes for an ideal location for a number of relocation or expansion opportunities. The North Iowa Corridor is anxious to work with any new businesses interested in making and calling the North Iowa Corridor region home.
- Approximately 63 acres are available for light or heavy industrial use. Southwest side of Mason City immediately south of State Highway 122 (1 of 3 four lane highways in Mason City) and west of Eisenhower Avenue. Newly developing industrial area geotechnical report and Phase I ESA done on the property. This site sits across from Smithfield Foods, Woodharbor Doors and Cabinetry, and Cartersville Elevator. It is also a center for new retail activity, including a Wal-Mart, Kohl’s, etc.. Available: 2.28-60 acres. Attractive financial incentives. Restaurants, hotels, retail nearby. Active rail service. Close proximity to I-35, Ave. of Saints and Iowa 122 (all divided 4)
Local Grants and Incentives
- A right-to-work state, Iowa is one of only five states that offer corporations 50% deductibility of federal taxes from corporate income. Using the single factor formula, corporate income tax is levied only on net income derived from sales conducted with the state. There’s also no corporate personal property tax, no sales and use tax on manufacturing machinery and equipment purchases in Iowa.
- New Jobs Tax CreditIn Iowa, corporate income tax can also be reduced or eliminated by the
- High Quality Job Creation Program
Sales tax in Iowa is 6%, and Corridor communities each feature a Local Option Sales Tax of 1%, making for a 7% consolidated sales tax rate. Corridor communities are known for their aggressive efforts to hold down property taxes for businesses and residents alike. For example, Clear Lake’s 2014 municipal tax levy is just $10.54, one of the lowest rates for communities of more than 10,000 in the state.
The High Quality Jobs program provides qualifying businesses tax credits and direct financial assistance to off-set some of the costs incurred to locate, expand or modernize an Iowa facility. To qualify for state assistance packages that include loans, forgivable loans, tax credits, exemptions and/or refunds, eligible businesses must meet certain wage threshold requirements.
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