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Developing a Downtown for Everyone
The Downtown Davenport Partnership’s suite of incentives and programs is strategically designed to further growth and vibrancy in Downtown Davenport. If you are looking for assistance on how to start a business downtown or to expand a business, we can help you get your business off the ground.
DDP Services and Grant Programs
Our dedicated staff is available to help you understand the nuances of small business grants, loans, financial assistance and doing business downtown so you can open your doors sooner. Our team is happy to provide a roadmap with financial tools, assist with navigating City Hall and help you discover the best site that fits your business downtown.
DDP is well-versed in all things downtown and we are your go-to resource when exploring opening a new business in Downtown Davenport, IA. Whether you’re looking for the right location, have questions about the business climate for your idea or want to get connected to grants and business loans to grow your company DDP can help.
Contact DDP Executive Director Kyle Carter at kcarter@quadcitieschamber.com or call our office to book a meeting.
The Downtown Davenport Partnership (DDP) Property Improvement Grant Programs encourage private investment that strengthens downtown buildings, supports business success and enhances the overall appearance and vitality of the Downtown Self-Supported Municipal Improvement District (SSMID). These programs support high-quality, permanent improvements that increase property value, activate commercial space and align with the goals of the Downtown Davenport: A Resilient City Master Plan.
All projects must be located within the Downtown SSMID boundaries to be eligible. Grant funding is provided as a reimbursement and requires a minimum private investment match. Applicants are strongly encouraged to contact DDP early, ideally before construction begins to confirm eligibility, review program requirements and improve competitiveness for funding.
What we are trying to accomplish:
How it can help you:
DDP grant funding per business will be no more than $3,000. Funding can be used for relocation expenses, operating or capital startup costs.
For more information and to submit an application, click here.
How it can help you
If you’re considering a downtown reinvestment project but need support getting started, the Pre-Development Grant can help cover early planning costs so you can make informed decisions and move your project toward construction.
Examples of eligible work / expenses
Eligible pre-development activities may include:
Grant amount / limits
As a condition of funding, applicants must share final deliverables with DDP for internal planning and reporting purposes (ownership remains with the applicant/consultant)
For more info and to apply, click here.
How it can help you
This grant can help you improve your building’s curb appeal, strengthen exterior building conditions and make your property more attractive to customers and tenants, while contributing to a stronger, more vibrant downtown streetscape.
Examples of eligible work / expenses
Funding details
How it can help you
This grant can help you renovate and modernize a downtown commercial space by supporting permanent interior improvements that make your space safer, code-compliant, and ready for long-term occupancy—helping you open, expand or attract a new tenant.
Examples of eligible work / expenses
Funding details
Davenport - the largest city and economic engine of the bi-state Quad Cities area - is a premier place to start or grow your business. Various incentives and tools at the city, state and federal levels provide great opportunities to create jobs and improve the quality of life in the Quad Cities community. DDP staff is happy to walk through the benefits of the tools listed below and connect you with the business resources appropriate for your project.
The City of Davenport Small Business Loan Program (SBLP) is designed to assist small businesses that are creating new jobs in our City. The Small Business Loan Program offers low interest loans of up to $30,000 per new full time equivalent employee for qualified business.
The State Historic Preservation and Cultural & Entertainment District (HPCED) Tax Credit Program provides a state income tax credit for the sensitive, substantial rehabilitation of historic buildings. It ensures character-defining features and spaces of buildings are retained and helps revitalize surrounding neighborhoods. The program provides an income tax credit of up to 25% of qualified rehabilitation expenditures (QREs).
The Federal Historic Preservation Tax Incentives program encourages private sector investment in the rehabilitation and re-use of historic buildings. It creates jobs and is one of the nation's most successful and cost-effective community revitalization programs. It has leveraged over $96.87 billion in private investment to preserve 44,341 historic properties since 1976. The National Park Service and the Internal Revenue Service administer the program in partnership with State Historic Preservation Offices.
This program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on those projects using abandoned, empty or dilapidated properties.
The Tax Reform Act of 1986 created the tax credit as an incentive for Housing Tax Credit project owners to invest in the development of rental housing for individuals and families with fixed or limited incomes. The Housing Tax Credit, rather than a direct federal subsidy, provides a dollar for dollar reduction (or credit) to offset an owner's federal tax liability on ordinary income for a 10-year period.
Urban Revitalization Tax Exemption is used in targeted areas of the City by providing a tax exemption on the increase in property taxes resulting from improvements to a property. For example, if you make improvements to your home in the Central area, any increase in assessed valuation due to those improvements is exempt from property taxes for 10 years.
Tax Increment Financing is used for larger developments that are both increasing the tax base and creating well paid jobs in our community.
The City offers an Economic Development Loan (ED Loan) is for larger manufacturing projects that will be creating new jobs in our community. This program offers up to $25,000 per new full time job created. Interest rates are variable and loan amount is dependent upon the scope of the project.
The High-Quality Jobs (HQJ) program provides qualifying businesses assistance to offset some of the costs incurred to locate, expand or modernize an Iowa facility. This flexible program includes loans, forgivable loans, tax credits, exemptions and/or refunds. The Iowa Economic Development Authority (IEDA) offers this program to promote growth in businesses, which employ Iowans in jobs defined as high-quality by state statute.
The Opportunity Zone incentive is a community investment tool established by Congress to encourage long-term investments in communities nationwide.
From capital gain deferral/elimination to leveraging additional investment in real-estate and businesses, the federal Opportunity Zone incentive provides a powerful new tool for development projects in the Quad Cities. Established by Congress, Opportunity Zone tax incentives under Section 1400Z of the Internal Revenue Code allow investors to defer, reduce and eliminate capital gains that are reinvested in qualified opportunity funds that hold at least 90% of fund assets in business or property located in designated Opportunity Zones.
The Quad Cities region has ten Opportunity Zones with industrial, commercial and residential investment opportunities. The ten zones are located in Davenport, Muscatine and Clinton Iowa and Rock Island and Kewanee, Illinois.