Governor wants more incentives for startup companies

Governor Tom Vilsack says Iowans who’d like to invest in startup companies in their own state are being left out of the opportunity. As the state tries to create a pool of money for cash-poor entrepreneurs, Vilsack says he and statehouse Republican leaders have talked about incentives like tax credits, that would help only large investors.He says nobody’s talking about working families with just a little money to invest, who turn instead to mutual funds or opportunities outside Iowa. Vilsack says there’s no reason small investors can’t put money into startups too, by contributing to a managed fund that could offer profitable returns. He’s encouraging folks to send him ideas before the new session, and he’ll put them on the table. Vilsack says lawmakers could even guarantee tax credits if the startup companies fail. Vilsack says he doesn’t want to leave out more than two million Iowans who may be willing to invest in their own state. Vilsack says Iowa companies traditionally have had a tough time finding seed money because the wealthy private sector doesn’t invest here.