Rock Rapids strongly supports existing and prospective business and industry. Our community, county, utilities, and organizations work cooperatively to finds ways to assist companies and provide incentives for their expansion and location.
In addition to several state and federal programs, several tools are available locally. Revolving loan funds are available through the city of Rock Rapids, Rock Rapids Municipal Utilities, Lyon Rural Electric, and Lyon County Economic Development Consortium. The amount and terms of these loans would depend upon the specifics of your project and are subject to the approval of the governing bodies of these organizations.
Property tax exemption is also available in Rock Rapids. Commercial and industrial businesses can apply for abatement over a 3-year or 10-year period.
Tax increment financing is another resource that is available for projects locating within urban renewal districts. Please contact the city of Rock Rapids for more information.