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Cedar Rapids uses tax incentives to spur postflood growth
City officials defend tax increment financing as a tool to rebuild Cedar Rapids after the 2008 flood. From 2012 to 2016 the city awarded about 82 million in tax breaks to 62 companies, leveraging 495 million in private investment and creating or retaining roughly 3,180 jobs. Critics say incentives distort markets and drain schools and public services, though proponents cite projects like Westdale Mall CAST Center and renovations such as the Ideal Theater as proof of impact.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Westdale Mall
Crst Center
Ideal Theater
Iowa
Karen Guse
First Avenue
Second Avenue SE
10Th Street
12Th Street
Physicians’ Clinic of
Hiawatha
Cindy Golding
33Rd Avenue
One Park Place
NewBo
West Side Wolf Pack V
TIF
Jeff Pomeranz
West Des Moines
Ron Corbett
Corbett
Cast Center
Nash Finch
Blairs Ferry Road
Westdale
New Bohemia
Scott Olson
Olson