Building a Culture of Entrepreneurship
A grant reimbursement program of the
City Council of Mason City
Administered By: Pappajohn Entrepreneurial Center
About the Program:
Sustainable growth is important to all businesses, and local small businesses are critical to their communities.
In Cerro Gordo County, 83% of the businesses have five or fewer full-time employee equivalents. They also have the fewest federal, state, and local programs to help grow their businesses.
The Mason City MicroEnterprise Program was commissioned by the City Council to help local small businesses that want to grow. The North Iowa Area Community College John Pappajohn Entrepreneurial Center and Small Business Development Center at North Iowa Area Community College is the program administrator.
A qualifying small business occupying commercial real estate in Mason City will receive a minimum of $1,000* the first year of participating in the Microenterprise Program.
The two-year program offers a prorated commercial real estate property tax rebate of up to half paid on the property for the business occupant (leased or owned). The tax rebate must be spent to improve the business or commercial property and must be spent with other Mason City businesses. Let the Pappajohn Center help build your Mason City small business sales and business success.
Participating businesses can receive reimbursement for pre-approved goods and/or services purchased within the city limits of Mason City.** Maximum reimbursement is up to 50% of the annual property tax paid on the underlying property in use by the business (the business does not have to own the building, but it’s prorated occupancy of the building is the determining factor) for two years.
For example, a local qualifying business that rents half of a building that pays $5,000 in property taxes would be eligible for up to $1,250 of reimbursements annually for two years.