(Des Moines) Iowa House Representative Tom Moore, of Griswold, ran a bill in the Economic and Growth Technology Committee to establish a major economic growth attraction (MEGA) program under Iowa Economic Development Authority. Moore said this bill passed committee with a technical amendment.
To maximize the economic potential of the mega sites, IEDA proposes establishing an exemption to Iowa Code chapter 91 to allow projects that would be placed on mega sites to be foreign-owned and exceed 320 acres. The general assembly previously approved a similar exemption from chapter 91 for projects that participated in the New Jobs and Income Program (IPSCO steel). The “MEGA Program” would create a new incentive structure for “mega projects”. The award/administration process is expected to be consistent with the High Quality Jobs Programs to the extent possible.
