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Work | Business Assistance & Financial Incentives

Are you considering expanding or opening a new business in downtown Davenport but don’t know where to start?  DDP has a dedicated staff that’s available to help you understand the nuances of doing business downtown so you can get your doors open sooner.

We can also help coordinate meetings with the City’s Community Planning & Economic Development staff to ensure you understand what financial incentives are the best fit for your business.

See below for a list of programs and incentives that could benefit your company.


DDP Commercial Interior Improvement Grant

Eligible projects must be located within the boundaries of the Downtown SSMID and funds are strictly for use towards capital improvements. Our goal is to attract new and retain existing downtown commercial office/retail tenants while enhancing the overall value and appeal of the downtown business district.

The grant provides assistance in the form of matching funds that are paid to selected applicants upon completion of the approved project. Grant funding is available equaling up to 20% of owner/developer investment capped at $5 per square foot (PSF). For example, if owner investment (tenant improvement allowance) is equal to $20 PSF, the project could qualify for a DDP grant of $4 PSF; thus, enabling a $24 PSF total improvement budget for the desired project. Funding for interior design assistance may be available for qualified projects.

Download Commercial Interior Improvement Grant App

DDP Facade & Streetscape Grant

DDP offers Facade & Streetscape grants intended to enhance the overall beautification and visual appearance of downtown. It is not intended to fund routine building maintenance. Examples of eligible projects include, but are not limited to, painting, decorative streetscaping, tuck pointing, awnings, historic window replacement, etc. Interior projects are not eligible.

Matching funds are paid to approved applicants after private investment has been applied to the project. The maximum amount of any grant is $15,000.

For more information or to apply, please contact DDP staff.


Free Market Research – BIG Database

The Quad Cities Chamber, in partnership with Eastern Iowa Community College District, offers a FREE data-mining service called Business Information for Growth, or BIG.

Identify new opportunities for your business to grow by researching demographic statistics, market analysis tools, and vital information on millions of U.S. companies.  Databases include Reference USA, Hoovers Plus, First Research, Plunkett Research, and Acculeads.

BIG is FREE to use and can be accessed after a brief training.  To schedule an appointment, call 563-322-1706.


City of Davenport Downtown Financial Incentive Programs

Small Business Loan Program (SBLP)
This federally funded program provides loans for $10,000 – $20,000 to assist small businesses with expenses such as machinery and equipment, building purchase and working capital. Loans are for five years with 0% interest. In order to qualify, business must have 50 or few employees and do one of the following three things:

  • Expand the availability of essential goods/services in low to moderate income neighborhoods
  •  Create and/or retain jobs for low-mod income persons
  • Owner must be a low-mod income person

Downtown Davenport Jobs Program
This program offers up to $20,000 per new full time or full time equivalent position created. Loans amounts range from $20,000 to $60,000 and are repayable over 5 years at 0% interest.

  • All loans require the applicant to provide matching dollar for dollar funds via proven cash or through traditional financing. The maximum amount of loan funds are not guaranteed for projects, rather each project is subject to financial analysis and approval by City staff.  If a business is interested in a loan of $20,000 or less they are encouraged to apply for the Small Business Loan.

Façade Loan Program
The City has a federally funded façade loan program. Preference is given to blighted properties and the rehabilitation of historic structures. Loans are for five year with an interest rate of 0-3%.

Parking Ramp Rate Incentive
A preferential rate on leased parking spaces is available for four years for new businesses occupying office space and bringing new jobs downtown.  The rate is available under the following criteria:
1. Company must occupy 5,000 Sq. Ft. of office space with minimum of 15 jobs and 5 year lease.
Year 1:  1/3 of public rate
Year 2:  1/2  of public rate
Year 3:  2/3 of public rate
Year 4:  3/4 of public rate
Year 5: Full public rate
Terms can sometimes be negotiable depending the size and number of jobs being created.  Contact DDP staff for more information.

Tax Incentives

Urban Revitalization Tax Exemption (URTE)
Property tax exemption on the increase of property taxes resulting from additions and rehab to existing structures and new construction of residential, commercial and industrial properties. This program offers seven different tax exemption schedules to choose from depending upon the tax classification of property.

Workforce Housing Tax Credit
Details coming soon.  Click here for more information.

Additional Assistance

Bi-State Revolving Loan Fund
The BSRLF makes below market-rate loans to fill permanent financing gaps and leverage private financial investment for businesses that create jobs. The BSRLF are based upon job creation with a maximum of $7,500 per job created. The loan may be used for working capital or to assist the business in the purchase of fixed assets such as machinery, equipment, land or buildings. Applications are accepted on a monthly basis.

For additional information, please all the City Community Planning and Economic Development Department at 563-326-7765.

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News
2017
News
2017
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  • Feb
    10th

    New luxury boutique hotel and apartments opening in Davenport

    The 1910 historic Putnam building in downtown Davenport will soon complete renovations and be transformed into a building called The Current, Iowa.

    Read the full story here.

  • Feb
    6th

    Davenport firefighter answers call to rehab historic downtown building

    Concerned last year that downtown Davenport would lose one of its historic buildings, one resident went out on a whim to save it.

    Read the full article here.

    Photo Credit: Kevin E. Schmidt, Quad-City Times

  • Jan
    31st

    ‘Event of the century:’ Quad-Citians revel in sight of Cubs World Series trophy

    When Dorothy Gaffney says she waited a lifetime to see the Cubs World Series trophy, she means it.

     

    Read the full article here.

  • Jan
    30th

    Eastern Iowa gets in on ground floor of Virtual Reality

    In a computer lab in downtown Davenport, a group of 14 students is exploring and training for what could be the next generation of digital jobs.

     

    Read the full article here.

     

    Photo Credit: Kevin Schmidt, Quad-City Times

  • Jan
    19th

    Benefit concert to celebrate Ellis Kell’s memory, support his family

    At the Peace, Love & the Joy of Music: Ellis Kell Family Benefit Concert slated for Saturday at the RiverCenter, Davenport, dozens of area musicians will take the stage to honor Kell, the Quad-City icon who died in December.

     

    Read the full article here.

     

  • Jan
    16th

    Icestravaganza tradition grows, features medieval ice sculptures

    The Downtown Davenport Partnership presented the fifth annual Icetravaganza on Saturday at the Freight House on River Drive.

     

    Read the full article here.

  • Jan
    16th

    QC Food Hub opens after renovations

    After three weeks of interior remodeling, the Quad Cities Food Hub in Davenport is once again open for business.

     

    Read the full article here.

  • Jan
    16th

    Icestravaganza melts Q-C winter blues

    Ice sculptors created an ice storm of their own Saturday as they sawed and chipped away on huge blocks of ice to create a medieval winter wonderland at Davenport’s Freight House.

     

    Read the full article here.

    Photo Credit: Jeff Cook Quad City Times 

  • Jan
    11th

    Urban Campus project gets upgrade

    The new Urban Campus of Scott Community College in downtown Davenport will be even better than originally planned, thanks to an additional — and unexpected — $2 million generated by the sale of tax credits.

     

    Read the full article here.

    Photo Credit: Kevin E. Schmidt QUAD-CITY TIMES

  • Jan
    5th

    Food Trucks to make permanent stop in Davenport

    The City of Davenport is hungry for food trucks.

    After implementing a successful six-week pilot program, the city has crafted an ordinance that will permit mobile food vendors in designated city right of ways and zones in the near future.

    Read the full article here. 

  • Dec
    30th

    Davenport’s eastern gateway gets a boost

    The eastern gateway into downtown Davenport got a boost Thursday, following a property donation by Russell Construction, the real estate development and property management company based in the city.

     

    Read the full article here.

    Photo credit: Jeff Cook (Quad City Times)
  • Dec
    30th

    Don’t let the name fool you, new whiskey bar in town won’t be ‘upscale’

    Duct tape, plastic tarp and dust-caked drapes shutter the front door and windows of the old Musicians Union Local 67 headquarters in downtown Davenport.

    The vacant building has seen better days, but a creative crew of entrepreneurs is converting the space at 304 E. 3rd St. into a neighborhood tavern and performance venue.

     

    Read the full article here.

    Photo Credit: Andy Abeyta (Quad City Times)
  • Dec
    28th

    RME staff carries on Ellis Kell’s mission with Winter Blues program

    Quad City Times – Bret Dale knew it would be a rough day at work.

    Monday marked his first day back at the River Music Experience, or RME, after the passing of his boss, friend, mentor and father figure, Ellis Kell.

    Read the full article here.

    Photo Credit: Andy Abeyta (Quad City Times) 
  • Dec
    19th

    Gills will debut The Current Iowa, an art-focused hotel

    Restoration St. Louis will showcase the talents of the Midwest’s premier and emerging artists when it takes the wraps off its newest downtown Davenport hotel — The Current Iowa.

    Read the full article here.

    Photo Credit: Kevin Schmidt, Quad-City Times 
  • Nov
    30th

    Davenport Moves on From Restoration St. Louis riverfront plan

    The city of Davenport is on to plan B after the City Council reviewed Restoration St. Louis’ proposal for the barge and porte cochere on the riverfront.

     

    Read the full article here. 

    Photo Credit: Kevin E. Schmidt, Quad-City Times
  • Nov
    28th

    The City Church moves into former Downtown Central Perk space in Davenport

    After nearly a year of holding services at the Redstone Room, The City Church now has a home base of its own. Since the Christian church, which now has about 70 members, opened in January, the Rev. Neil McReynolds said they’ve been scrambling to find meeting places.This past Tuesday, with The City Church’s first services held at their new digs on West 3rd Street in Davenport, the scramble was over.

    Read the full article here.

     

     

     

  • Nov
    18th

    New Business Help Economic Growth in Davenport

    KWQC – Carousel of Delights isn’t the only newer business in the city. RAW, in downtown Davenport had its grand opening Wednesday night and Baked Bread and Beer Company is set to open in the East Village this weekend. Head of Economic Development, Susanne Knutsen, said the growth of businesses helps both the economy and job creation.

     

    See the full story here. 

  • Nov
    15th

    Notes @ Noon: Serving a ‘healthy spin’ on cocktails, RAW preps to impress

    Quad City Times – “If the bulky bag of “organic” rainbow carrots temporarily resting atop the freshly polished concrete bar top didn’t make a statement, the permanent forest green moss growing on the wall definitely does. RAW, a new posh tavern in downtown Davenport is not the place to go for a shot of Fireball Cinnamon Whisky and a greasy burger, not that there’s anything wrong with that combo from time to time.”

    Read the full article here. 

    Photo Credit: John Schultz(Quad City Times) 

  • Nov
    14th

    Playhouse on the Block

     

    When staff at Quad-City Arts asked Estes Construction to build and donate a playhouse to be auctioned at Festival of Trees, the Davenport company readily agreed, then used the project as a team-building opportunity.

    Read the full article here. 

  • Nov
    10th

    A new Daytrotter: Comedy shows, local bands arrive to the venue

     Quad City Times – Following the August exit of Daytrotter founder Sean Moeller, things are shaking up for the 10-year-old company that records live sessions of bands for online listening and hosts a steady stream of concerts.

    Read the full article here. 

    Photo credit: Kevin E Schmidt – QCTimes (11/7)