Robin Opsahl covers the state legislature and politics for Iowa Capital Dispatch, where this article first appeared.
Governor Kim Reynolds signed into law on October 2 a measure changing a state’s economic development program that could provide nearly $1.4 billion in tax incentives for a $15 billion steel mill project planned in southeast Iowa.
“Today, we advance the most consequential economic development project ever to come to our state,” Reynolds said.
The governor signed House File 2801 just hours after lawmakers approved the proposal during a special session, convened for the sole purpose of considering the legislation. The Iowa House approved the bill in a 75-17 vote, and the Senate approved the bill in a 28-19 vote. The proposal would modify the state’s Major Economic Growth Attraction (MEGA) program to include further incentives for businesses within rural areas, a targeted change to benefit the Mesabi Metallics project planned in Lee County.
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