Lawmakers Considering Creation of State Fund to Help Attract Major Events to Iowa

Lawmakers are considering creation of a state fund to help attract major events to Iowa. 

Republican Senator Carrie Koelker of Dyersville says other states are using tax dollars to support non-profit groups making bids to host things like Taylor Swift concerts, professional golf tournaments and other big events – and there’s no reason Iowa can’t do that too.

A bill that’s cleared a senate committee would create the Iowa Major Events and Tourism Program and, each year, 15 million dollars in state taxes on sports wagering would be deposited in that fund. Senator Koelker says grants from the fund could finance up to 50 percent of the incentives that non-profits, like local tourism groups, could offer to land a major event.

The state grants would be available for tourism-oriented events like athletic contests, conventions or music and art festivals. Senator William Dotzler, a Democrat from Waterloo, says it’s not just about attracting tourists to Iowa.

North Carolina lawmakers just created a “Major Events, Games, and Attractions Fund” with over 16 million dollars in tax revenue from sports gambling. At least 21 states have some sort of program to help marketing groups bid for – and, in some instances – operate major sporting events.

story courtesy of Radio Iowa