Gov. Terry Branstad signed into law today a bill that will create a new economic development authority, called the Iowa Partnership for Economic Progress, saying it’s important to the state’s effort to boost the economy over the next five years.
Along with the authority, the law creates a nonprofit group that will focus on sparking innovation in the state. Branstad said public-private partnership is key to raising incomes 25 percent and creating 200,000 new jobs over the next five years, two campaign promises. The new authority will replace the existing Iowa Department of Economic Development, an agency plagued by a film tax credit scandal. “They said it would be a hot day when this was passed,” said Branstad, referring to a heat index today that was expected to reached 115 degrees.
To read the full, original article click on this link: Branstad signs bill creating new economic development agency | Des Moines Register Staff Blogs
