Fort Madison Creates Enterprise Zone

Fort Madison, IA – Fort Madison is creating a new economic development tool that city leaders hope will spur job growth. The city council voted to establish a transportation enterprise zone. Businesses located within, or moving into the zone, would be eligible for tax credits and tax abatements. Mayor Steve Ireland says the state is always willing to provide incentives to major industries considering Iowa. The proposed zone, which can be expanded, includes the downtown district, the riverfront district, and land along Highway 61. Ireland says the state must approve the zone. An enterprise zone commission would then be formed to govern the district and to decide which businesses receive the potential incentives. The companies applying would have to meet salary, job creation, and investment requirements. Fort Madison qualifies for a transportation enterprise zone because of its proximity to rail, water, and highway.