City of Ankeny Financial Incentives

The City of Ankeny offers  loans, tax abatement and tax increment financing for economic development projects that provide new jobs and commercial tax base to the community.

Targeted Industry Incentive Program

New and existing businesses in the City’s targeted industries of advanced manufacturing, bioscience, logistics, information technology and business services that are investing in facilities that expand the city’s tax and create new jobs in Ankeny may be eligible for tax increment financing rebates.  Factors considered when determining eligibility and amount of incentives include total capital investment, net new jobs created, employee wage and benefit packages, impacts to property tax base of the community, site development challenges and overall quality of development.   The amount and duration of the tax rebates are negotiated with staff and incorporated into a development agreement that is considered by the City Council on a project-by-project basis.  

Please contact the City of Ankeny’s Economic Development Department for additional program details and to discuss project eligibility.

Industrial Property Tax Abatement

New construction of industrial real estate (manufacturing), research-service facilities, warehouses and distribution centers are eligible for a partial tax abatement anywhere in Ankeny.   Qualifying projects are required to submit an application to the Polk County Assessor’s office by February 1 to qualify for five-year sliding scale abatement.  Abatement is awarded as outlined below.

Please contact the City of Ankeny’s Economic Development Department to discuss project eligibility, approval process and for an application for abatement.

Office Development Incentive Program

Ankeny office development incentive program is intended to encourage development of new office space that will create high quality jobs that support regional, national, and/or international business operations. Two-story office buildings totaling 40,000 square feet or more and meeting specific building material requirements may be eligible for up to 10 years of tax increment financing (TIF) incentives. A minimum of five (5) new jobs meeting specific wage thresholds must be created within three years to qualify.  Approved projects meeting all the eligibility requirements will receive 100% TIF rebates the first five years and if new jobs are maintained for five years, an additional five years of TIF rebates will be awarded on the following scale:

50/50 High Quality Job Loan Program

The City of Ankeny's 50/50 loan program is designed to promote employment and capital investment in Ankeny's targeted industries of advanced manufacturing, bioscience, logistics, information technology and business services. Loans will generally be made up to $100,000 and are structured as 50% repayable, 50% forgivable with five-year repayment terms and five-year job creation and maintenance targets. 

Please contact the City of Ankeny’s Economic Development Department for additional program details and to discuss project eligibility.

Uptown Urban Revitalization Property Tax Abatement

Partial tax abatement is available for qualifying projects in Ankeny’s historic downtown known as Uptown.   Investments occurring within the area shown in the map below which increase the assessed valuation by 15% or more are eligible to apply for ten year sliding scale tax abatement on the increased in valuation.  The existing value of the property, prior to any new investment, is not eligible for tax abatement.  Tax abatement is awarded as follows:

Please contact the City of Ankeny’s Economic Development Department to discuss project eligibility, approval process and for an application for abatement.