Economic Development Resources

Geographic and Demographic Information

Walcott, Iowa is located on Interstate 80, 8 miles West of the Quad Cities, and 15 minutes away from the Mississippi River.  We are a small city, population 1,528, surrounded by a farming community.  Hearts and Hands working together is our way of life in the Walcott Community.  Our claim to fame is home to the worlds largest Truckstop.  –Former Mayor, Reed Hagen 

Quad City Development Group

         Assistance and Programs 

Tax Increment Financing (TIF) Rebates – The Walcott City Council has approved the use of property taxes resulting from the increase in taxable valuation due to construction/reconstruction of new commercial facilities to foster economic development activities.  A policy regarding the use of property tax rebates in the North TIF District as an incentive to economic development.  The following criteria must be met in order to qualify for a property tax rebate in the North TIF District: 

1.       Construction of improvements, which shall increase upon full taxation the assessed valuations of the property.

2.       Construction will commence within one year from the date the City Council approves the rebate application and will be completed within a time agreed to by the City Council.

3.       Applicants for the property tax rebate must apply for the rebate before October 1, 2008.  

The amount of property tax rebate shall be equal to the following percentages of the incremental property tax of the property beginning in the first year of full taxation of the new improvements:  year 1, 75%; year 2, 75%; year 3, 40%; year 4 30%; and year 5, 20%.  These percentages shall only apply to projects started on or after September, 1, 2004.    

Please contact Lisa Rickertsen, City Clerk, at 563.284.6571 ext.17 for additional information.  Click here for rebate application.

Iowa Department of Economic Development (IDED) supports business and entrepreneurial development by providing direct assistance, networking and educational opportunities and financial assistance to high-growth, value-adding business ventures.   

The following are some Federal Financial Assistance Programs available:  

Business and Industrial Loan Guarantee Program provides guarantees on loans up to $10 million made by private lenders for start-up or expansion purposes to businesses located in rural areas with population less than 50,000.  For further information, contact the United States Agricultural Department at 515.284.4714. 

Small Business Administration Loan Program provides a number of guaranteed loan programs designed to meet the needs of small business.  Contact the U.S. Small Business Administration in Des Moines, Iowa at 515.284.4422.

Iowa Business Growth Company (SBA Fund 504) provides fixed-asset loans for land, buildings, remodeling, new construction or equipment.  SBA 504 loans are available to qualified small businesses throughout Iowa and provide up to 90 percent financing for most projects.  Additional information may be obtained by calling 515.223.4511. 

3.       Utilities-Communications

All new customers are required to complete a utility sign up form and pay a $70.00 deposit to the City of Walcott for water and sewer service.  

Other utilities to contact: 

The Walcott Post Office is located at 117 E. Bryant Street and can be  reached at 563.284.6446.    

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