Lawmakers have barely unpacked, and state economic development leaders already say they likely will seek a supplemental appropriation.
“Direct financial assistance of $15 million … will not get the job done,” said Debi Durham, the state’s economic development director, pointing to “projects in the pipeline” for June and upcoming months. “We’re going to make a case through the summer and fall months that we need more funding.”
Durham and Gov. Terry Branstad requested $25 million in financial incentives to help expanding businesses and startups. Over the past 15 months, the agency has used incentives to spark $3.3 billion in capital investment, projects that are expected to create nearly 12,300 jobs, Durham said.
