Economic Development

IMU participates in economic development under the guidelines of the Iowa Code that allow the contribution of public grants, loans, guarantees, tax incentives, and other financial assistance for the benefit of private persons.  Programs available through IMU include economic development incentives, in-kind donations and revolving loan funds.

Incentive Program

Goal: To effectively encourage new utility usage growth within the applicable service territories.

Use of Funds: 

  • Construction of public infrastructure that is required to provide appropriate utility services to land with industrial or commercial development potential, based on the classification assigned in the city’s comprehensive plan.
  • Forgiveness of all or a portion of private service installation costs.

Application Form: Click Here

Donation Program

Goal: To effectively encourage efficient utility usage and growth within the applicable service territories, including projects that enhance the community. 

Use of Funds:

  • Construction of utility services and donation of related equipment and fixtures.
  • Forgiveness of all or a portion of Contributions in Aid of Construction.
  • Up to $5,000 in direct financial assistance to be used to enhance energy efficiency in new construction or remodeling projects.

Application Form: Click Here

Loan Program

Goal: To effectively encourage efficient utility usage and growth within the electric service territory, including projects that enhance the community.

Use of Funds:

  • Create or retain employment.
  • Increase the property tax base of the City of Indianola.
  • Provide community facilities and services with demonstrated public support.
  • Enhance the efficient or cost-effectiveness of utility services.
  • Create or retain tourist attractions.

Application Form: Click Here