1. The general assembly finds and declares as follows:
a. The economy of the state of Iowa and opportunities for employment within the state are increasingly dependent upon the international exports of Iowa manufactured goods and services and the growth of international export markets for those manufactured goods and services.
b. Other states have utilized or are preparing to utilize the resources of their state governments to stimulate, facilitate, and promote international exports.
c. Competition among businesses and countries will endure and intensify as more countries seek to expand their international export capacities.
d. Expanding international export markets is essential in order to maintain a vigorous and growing economy and to provide adequate job opportunities for Iowa citizens.
e. Iowa has a responsibility to create employment opportunities by encouraging and stimulating the development of international export sales and markets by export businesses.
f. Iowa export businesses find it increasingly difficult to compete with foreign exporters which benefit from their governmentally supported financing programs.
g. Increased export sales may best be stimulated by making financial assistance available to export businesses to develop and expand international export markets and to ensure the competitiveness of Iowa products and services in foreign markets, thereby increasing employment opportunities available to the citizens of Iowa.
h. Export businesses seeking to enter foreign markets face severe problems financing and insuring their transactions.
i. Export business expansion and development is dependent upon the availability of financing for expansion at interest rates, terms, and conditions which are reasonable to export businesses.
j. Private and public financing for export businesses with reasonable rates, terms, and conditions is unavailable to assist export business expansion and development.
k. The Iowa export business finance program is necessary to encourage the investment of private capital in export business expansion and development.
2. The purposes of the export business finance program are to:
a. Promote the business prosperity and economic welfare of Iowa and Iowans.
b. Provide financial assistance for the location of new or the expansion of existing export businesses in Iowa through the sale of bonds and notes, subsidies, loans, guarantees, insurance, grants, investments, contracts, or other transactions.
c. Provide employment opportunities and thereby improve the standard of living of Iowans.
d. Promote industrial, commercial, and recreational development in Iowa.
3. All of the purposes stated in this section are public purposes and uses for which public moneys provided by the sale of bonds and notes, or otherwise available through appropriations, grants, contributions, or declared surplus moneys may be used.
4. It is the public policy of the state through the establishment of the export business finance program to promote the economic welfare of Iowans and to improve employment opportunities for Iowans. To advance the public policy the authority may provide financial assistance for export businesses through the sale of bonds and notes, loans, guarantees, insurance, grants, subsidies, investments, contracts, or other transactions.
87 Acts, ch 141, § 3
CS87, § 220.121
C93, § 16.121
Referred to in § 16.1
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