When more Iowa small businesses are doing well, more Iowans will be working again. That’s the basis of a new Senate proposal to help Iowa continue to recover from the lingering national recession. Press release from Amanda Ragan.|(Press release from Amanda Ragan.)
When more Iowa small businesses are doing well, more Iowans will be working again. That’s the basis of a new Senate proposal to help our state continue to recover from the lingering national recession.
We’ve listened to local small business leaders. Based on what they’ve told us, we’ve put together a “Small Business Works” proposal that will lower employee health insurance costs, allow easier access to credit and cut red tape for Iowa’s small businesses. In addition, communities will have more resources to revitalize their business districts.
Small businesses currently pay on average 18 percent more for employee health insurance than large corporations for the same coverage. Our proposal would help level the playing field by providing a state health care tax credit for businesses with 10 or fewer employees.
Small business owners have also said they have a tough time getting the credit they need to grow their business and add jobs. Last year, the Legislature created the “Save Our Small Business Fund” to provide low-interest loans to businesses with 35 or fewer employees. Our new proposal expands the program to more businesses and makes the first six months interest free.
Other highlights of the “Small Business Works” proposal include:
– Red Tap Commission that will eliminate unnecessary red tape and improving the delivery of services to small businesses by reviewing rules and regulations affecting small businesses.
– Encouraging business owners and communities to clean up abandoned industrial or commercial buildings, especially those in central business districts with state grants and tax credits.
Next week the Senate plans to unveil the second part of this job-creation proposal. It’ll focus on improving opportunities for education and job training. In the meantime, if you have ideas for growing jobs here in Iowa, please let me know.