Funding Assistance Programs

Key Features

• Forgivable Loans: Businesses can receive loans that are forgiven upon successful completion of the training program and fulfillment of specified employee training numbers.
• Eligibility: Iowa-based businesses engaged in manufacturing, assembling, warehousing, wholesaling, or research and development are eligible. Service industries serving out-of-state customers may also qualify.
• Training Scope: The program covers nearly any kind of job-related training — from health and safety, quality assurance, and technology, to skilled trades, advanced manufacturing, heavy equipment, and even leadership or professional development.
• Funding Limits: Awards are capped at $35,000 per business site, with a maximum of $100,000 over three years. Businesses are required to provide a minimum of 30% of the training cost as a cash match.

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Key Features

• State-Funded Through Bond Financing: Hawkeye Community College issues bonds to fund training. Your business repays the bonds through a portion of state withholding taxes from the new jobs—not out-of-pocket cash.
• Eligibility: You may qualify for 260E if:
  • You're creating new, full-time positions in Iowa.
  • Your business is involved in manufacturing, assembling, warehousing, wholesaling, or research and development.
  • If you're in a service industry, at least 50% of your revenue must come from out-of-state customers.
• Training Expenses:The program covers a wide range of training-related expenses, including:
  • Customized job training (on-site or classroom)
  • Safety and compliance training
  • Tuition, books, and fees
  • Travel costs related to training
  • Instructional equipment and materials
  • Wages during training (partial reimbursement)
• Partner Support from Hawkeye: Hawkeye Community College handles the paperwork, bonding, and coordination—so you can focus on growing your team.

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Why Partner with ACE

• Get access to a larger pool of trained, job-ready workers.
• Help shape the training programs to match your company’s needs.
• Enjoy tax benefits for participating in the program.

How Your Business Can Participate

• Partner with Hawkeye to sponsor some or all of the training spots in a new or expanded education program.
• Sponsor open positions and agree to consider hiring students after they finish training.
• Help design the program and cover 20% of the program costs based on the number of positions you sponsor.

Who Can Participate

Your business is eligible it is an Iowa-based company involved in:

• Manufacturing, processing, or assembling products
• Construction
• Research and development
• Providing services

How the Program Works

The ACE program has two parts:

1. ACE funds help pay for construction or updates to classrooms and labs so more students can be trained.
2. Program job credits help cover program costs and are tied to tax benefits for your business.

When you partner with Hawkeye Community College, your program costs can be reduced through tax credits. The credits are based on how many training spots you sponsor and can be up to 10% of the starting wage for trained employees.

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