image of person filling out form

Financial Assistance

DDP Business Grant Programs, Loans, Incentives & Financial Assistance


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.  


Services

The following business resources are managed directly by the Downtown Davenport Partnership. We strongly encourage property and/or business owners to connect with us before applying so that our skilled team can open doors to the best options for your business. 

DDP ENTREPRENEUR GRANT

What we are trying to accomplish:

  • Foster a vibrant and diverse entrepreneurial ecosystem in downtown Davenport.
  • Encourage new businesses to set up their operations within the downtown SSMID, contributing to the area's economic growth and vitality.
  • Empower and support minority-owned businesses to thrive, driving greater inclusivity and representation within the entrepreneurial community.
  • Remove financial barriers and provide resources to help entrepreneurs successfully establish and grow their businesses.
  • Enhance the overall economic landscape of downtown Davenport by facilitating the launch of innovative and impactful ventures.

How it can help you:

DDP grant funding per business will be no less than $2,000, but no more than $5,000. Funding can be used for relocation expenses, operating or capital startup costs.

For more information and to submit an application, click here. 

DDP PRE-DEVELOPMENT GRANT

What we are trying to accomplish:

The goal of the Pre-Development Grant program is to accelerate Downtown property development by providing financial support during the early stages of project development.

Examples of pre-development work include:

  • Professional design work, including architecture and engineering
  • Site assessment, including environmental tests and structural assessment
  • Market studies
  • Financial modeling

Grant Amount

Up to $3500 per project

The request cannot be greater than 50% of the bid

For more information and to submit an application, click here. 

DDP EXTERIOR & STRUCTURAL IMPROVEMENT GRANT

What we are trying to accomplish:

  • Encourage good property stewardship through investment in core infrastructure and maintenace of buildings
  • Increase property investment that directly relates to improving the aesthetics of buildings and places in Downtown Davenport
  • Enhance the pedestrian experience Downtown by improving the overall beautification and visual appearance of buildings and commercial storefronts
  • Help new and existing businesses succeed by enhancing their curb appeal
  • Increase commercial property values Downtown

Examples of eligible projects include:

  • Exterior building repairs
  • Exterior painting
  • Tuck-pointing and masonry repair
  • Window & door repair/placement
  • Storefront repair/replacement
  • Canopies & awnings
  • High-quality fencing
  • Exterior lighting
  • Outdoor planters and street furniture
  • Fees for design and permitting

All improvements funded in part by DDP must permanently remain with the property. And this program is not intended to fund routine building maintenance.

Grant Amount:

  • Up to $20,000 per project
    • The request cannot be greater than 50% of the total qualified project costs
    • To be eligible for the full $20,000, applicants are required to utilize the services of architectural and/or engineering professional
    • If project design is not included in the application, the max grant award is $15,000
       
  • Applicants are strongly encouraged to apply for grant assistance prior to projects being completed.

For more information and to submit an application, click here.

DDP COMMERCIAL INTERIOR IMPROVEMENT GRANT

What we are trying to accomplish:

  • Encourage new businesses to open downtown locations
  • Motivate property owners to work with tenants to fill long-vacant spaces
  • Increase the total number of retail businesses downtown

What kind of projects are eligible?

  • Hazardous materials abatement, such as asbestos removal
  • Interior demolition and shell reconstruction
  • Compliance with the Americans with Disabilities Act (ADA)
  • Permanent equipment, plumbing, mechanical, electrical & HVAC
  • Permanent lighting
  • Flooring
  • Historic restoration of interior features
  • Permanent interior walls and finishes
  • Permanent bar/counter for point of sale
  • Architectural/interior design/permitting fees related to interior improvements

Grant Amount:

Grant funding is available equaling up to 20% of owner/developer investment capped at $5 per square foot (PSF) or $15,000. 

  • Applicants are strongly encouraged to apply for grant assistance prior to projects being completed.

For more information and to submit an application, click here. 

DDP CREATIVE STOREFRONT SIGNAGE ASSISTANCE GRANT

What we are trying to accomplish:

  • Enhance the overall appearance and image of Downtown Davenport while supporting downtown businesses.
  • Enhance the pedestrian experience Downtown by encouraging creative business signage to identify and brand the businesses in the SSMID.

Grant Amount

  • Applicants can request a matching grant up to $1,000 to help cover costs towards sign design, creation, and installation costs.
  • The request cannot exceed 50% of the bid

For more information and to submit an application, click here

DDP ACTIVATION & EVENT GRANT

Downtown Davenport Partnership offers funding for events/activations that recruit people into Downtown; utilize public, outdoor, or highly visible space; and provide creative or uniquely joyful experiences in Downtown Davenport.

What we are trying to accomplish:

  • Empower creative people with inspiring ideas to create activations that draw more people into downtown and enhance civic pride.
  • Activate public spaces with that bring the community together.

We are aiming to empower creative people with inspiring ideas! There are no restrictions on the type of event/activiation we are looking to fund. It can be music, art, fashion, fitness, community-related, or anything else you dream up. We just want to bring more people into the downtown and showcase the true spirit and souls of Quad Citizens.

How it helps you:

Our grants range between $250 and $1500 depending on scope, concept, and engagement opportunity. We give extra points for events that are free, inclusive, and unexpected.

Your total grant request cannot be greater than 50% of the total qualified event costs. For example, if the total event cost is $800, the maximum grant awarded would be $400.

To learn more and apply, click here. 

Incentives

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. 

CITY OF DAVENPORT SMALL BUSINESS LOAN PROGRAM

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.

Learn more

STATE HISTORIC TAX CREDIT

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).

Learn More

FEDERAL HISTORIC TAX CREDIT

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.

Learn More

WORKFORCE HOUSING TAX CREDIT

This program provides tax benefits to developers to provide housing in Iowa communities, focusing especially on those projects using abandoned, empty or dilapidated properties.
 

Learn More

LIHTC

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.

Learn More

URTE

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. City Council approved changes to the Urban Revitalization Tax Exemption (URTE) program at the September 26th City Council meeting. 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!

Learn More

TIF

The City utilizes property tax incentive programs to incent property owners that improve their property and help to offset the increase in taxes they see as a result of an increase to their assessed value.

Tax Increment Financing is used for larger developments that are both increasing the tax base and creating well paid jobs in our community.

Learn More

ECONOMIC DEVELOPMENT LOAN

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.

Learn More

HIGH QUALITY JOBS

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.

Learn More

Opportunity Zones

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. 

Download the Prospectus