SIREPA encourages public and private partnerships that will foster economic growth, bring high quality jobs, and improve quality of life for residents in Lee County and the entire Southeast Iowa region. Port authorities in Iowa have been granted nearly all the powers of a municipality, with the exception of independent eminent domain powers and taxing authority, to further transportation, recreational, government, or cultural activities. Below are some examples of our unique abilities and services that can benefit existing and prospective companies.
SIREPA can provide an investment conduit for development projects by offering a variety of partnership opportunities.
As a tax exempt entity, SIREPA can offer financial benefits to partnering organizations.
SIREPA has been granted authority to issue port authority revenue bonds to finance qualified capital projects. Additionally, SIREPA can loan money to and guarantee obligation for any person or government agency for the acquisition, construction, furnishing, or equipping of property in furtherance of SIREPA's authorized purpose.
SIREPA can serve as an owner of transportation, logistical, multi-modal or trans-load facilities or as a collaborative vessel for private/public partnerships, multi-government efforts or other scenarios. SIREPA's capabilities may provide tax advantages to partnering organizations. Examples of transportation facilities include bridges, roadways, and terminals.
Other services may include providing industrial prospects and waterway users with services such as facility planning, financing, and transportation packaging. A SIREPA management team, along with strategic partners, can assist private businesses in their industrial site location decisions and logistics arrangements.
Operations & Maintenance
SIREPA could operate not only waterborne ports, but inland multi-modal ports as well. SIREPA operations and maintenance capabilities offer unique advantages to public or private entities in Lee County, while maintaining focus on community and regional impact.
SIREPA economic development considerations include obtaining, developing, and marketing a medium or large industrial site or sites in order to attract employers looking for shovel-ready and relatively risk-free properties. Partnering companies will engage in practices that support the authorized purpose of SIREPA.
Land owned by SIREPA and leased to private companies can also provide tax and financial benefits. SIREPA has been granted the authority to excercise police powers which, among other capabilities, allows for land use authority.
SIREPA can promote and market economic development in the region at the national and global level. SIREPA can supplement existing economic development efforts in Southeast Iowa, with a specific focus on the region's capabilities in terms of industry, freight movement, and waterborne commerce.
Foreign Trade Zones
FTZ benefits include exporting of goods without incurring U.S. customs duties, transfer of goods between FTZs without payment of duties, and more. SIREPA is equipped to assist organizations with the FTZ application process.