Sumner is dedicated to generating opportunities to insure the ongoing growth and vitality of our business community.

Please contact us either by email or phone at 319.231.9004 to explore your opportunity needs.

DSC01173

Sumner wants your business to be successful. Sumner community leaders have a long history of working together with local businesses to provide a healthy environment for manufacturing and retail endeavors.  We would love the opportunity to work with you to create rewards for your company and create new jobs here in Sumner.

INDUSTRIAL BUILDING INCENTIVE SUBJECT TO CITY OF SUMNER REVIEW

  • A forgivable loan incentive in the form of $4,000
  • Per job created in Sumner within 3 years of commencement of operations in Sumner, IA
  • Based upon a projected 20-40 jobs created and structured concurrent with the State of Iowa forgivable loan program
  • The use of similar terms and restrictions as the State of Iowa
    Please email or call for an application

SUMNER’S FUTURE REVOLVING LOAN FUNDS

  • Minimum loan amount of $5,000
  • Maximum loan amount of $15,000
  • Interest rate of 2% for a term of 5 years
    Please email or call for an application

SUNSET THEATRE FOR DOWNTOWN BUSINESS’S REVOLVING LOAN FUND

  • Up to $10,000
  • Interest rate 0% for a term of 3 years
  • Subject to available funds

Please email or call for an application

Tax Advantages:

The property tax abatement schedules available for residential development shall be as follows:

A) NEW CONSTRUCTION and FILL IN LOTS

  • 4-year Tax Abatement on the first $75,000 Property value as Iowa code allows – Year 1 – 75%, Year 2 – 50%, Year 3 – 25% and Year 4 – 25%
  • Requires a City of Sumner building permit issued after April 1, 2012 for tax assessment purposes

B) “VALUE ADDED” RESIDENTIAL ADDITIONS

  • 4-Year Tax Abatement to the first $75,000 Property value as Iowa code allows – Year 1 – 75%, Year 2 – 50%, Year 3 – 25% and Year 4 – 25%
  • Cost of proposed permanent addition must exceed 10% of the assessed valuation of the property minus the land value as determines by the Bremer County Assessor
  • Requires a City of Sumner building permit issued after April 1, 2010 for tax assessment purposes

The property tax abatement schedules available for commercial and industrial development shall be as follows:

A) “VALUE ADDED” COMMERCIAL ADDITIONS

  • 5-Year 80% 60% 40% 20% 20% Property Tax Abatement
  • Cost of proposed permanent addition must exceed 10% of the assessed valuation of the property minus the land value as determined by the Bremer County Assessor
  • This would include upper-level residential spaces in commercial buildings
  • Requires a City of Sumner building permit issued after April 1, 2010 for tax assessment purposes

B) NEW COMMERCIAL BUILDING CONSTRUCTION

  • 5-Year 80% 60% 40% 20% 20% Property Tax Abatement
  • Requires a City of Sumner building permit issued after April 1, 2010 for tax assessment purposes

Come visit us… we are the “City With the Future” in Northeast Iowa!