Des Moines Register – Branstad urges tax breaks for startups

he way in some areas, and better organized in other areas if Iowans are to realize the dream.”

Branstad, speaking at Des Moines Area Community College this morning, proposed:

Tuition: A 50-percent tuition tax credit for businesses that commit to pay the tuition for an applied science community college student and hire the student after graduation.

Young entrepreneurs: Expose every Iowa student in “K-12, community college, and Regents institutions to the ‘entrepreneurial mindset,’” Branstad said.

Read the full story here.

He said Iowa students graduate with too much debt, while businesses struggle to find employees with the skills they need. “Iowa can grow our own labor force by promoting technical degrees and by having jobs available for students after they complete their education,” Branstad said.

Employers would be allowed to place reasonable requirements upon the student’s performance at the community college and state a minimum length of employment.

By 2015, Branstad wants 5,000 students to graduate a year with career and technical degrees paid for by employers.

Waive taxes: Branstad said he would back legislation that eliminates state income tax for three years and sales taxes for three years, or $50,000 in taxable purchases, for startup companies.

“This action will allow startup companies to reinvest these tax dollars in their dream,” Branstad said. “Additionally, it will help energize the Iowa economy with new employment opportunities and equipment purchases that would not have occurred but for this new program.”

Read more at Branstad for Governor