A group of Iowa state senators is proposing to expand an economic development program to entice the Chicago Bears to relocate to Iowa.
The bill, SF2252, would amend the state’s major economic growth attraction, or MEGA program, to include sports stadiums. Currently, the program allows tax incentives for advanced manufacturing, biosciences, or research and development. It’s available for businesses that invest at least $1 billion in Iowa.
Senator Dan Dawson (R-Council Bluffs), Senator Kerry Gruenhagen (R-Walcott), Senator Dawn Driscoll (R-Williamsburg), Senator Scott Webster (R-Bettendorf), Senator Mike Bousselot (R-Ankeny), Senator Cherielynn Westrich (R-Ottumwa) and Senator Carrie Koelker (R-Dyersville) are the sponsors of the legislation.
Senator Webster says Iowa’s pro-business, pro-tax climate would make the state a perfect option.
“We're adding that an NFL stadium can be added within the MEGA bill, which includes sales tax rebates. Obviously, you could have property tax rebates, income tax rebates in some cases,” Senator Webster said in an interview with WVIK. “So essentially, we're saying we'd like to start the negotiation to have the conversation, and we want to make sure that there's a tool to start with. And the MEGA bill that we passed a couple of years ago is a bill that we could utilize to do this.”
In a statement, Webster also described Illinois’s economy as corrupt and incompetent with a “punitive tax and regulatory climate”.
Senator Gruenhagen concurred in a media statement issued following the bill's introduction on Tuesday, February 10th.
"The Chicago Bears are looking for a state that will appreciate them and welcome them with open arms, and we are filing a bill today that says Iowa is happy to be that home," said Senator Gruenhagen. "This bill today is another great way we can show everyone Iowa is open for business and show a team in our neighboring state that we are ready for them if their home state doesn't want them. While Illinois and Indiana squabble over this issue, we are ready to get off the sidelines and into the game. Bringing an NFL team to Iowa would attract jobs, tourism and fans to our state and give us the opportunity to showcase what Iowa really has to offer. Iowans have dedicated themselves to our college sports teams, and we're ready to attract a professional team to our great state."
The Economic Development Authority would determine if businesses meet eligibility and issue the incentives. The bill was referred to the Senate’s Local Government committee, which Senator Webster presides over as chair.
The Bears are nearing a final decision on a new stadium location, with pressure mounting on Illinois to approve infrastructure funding to keep the team from moving to Arlington Heights or northwest Indiana.
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