July 1 marked the beginning of fiscal year 2014. As such, new laborshed wages are in effect. The new wage rates (including 100%, 90%, and 120%) and the list of distressed counties for FY14 have been posted on the Iowa Economic Development Authority (IEDA) website.
You can access the new information here:
Please note, the phase-in of laborshed wages continues this year for communities that would have realized significant increases over the county average wages we had used in the past.
The “Distressed County” list has also been updated for FY14. A “distressed county” is one that ranks among the bottom 25 of all Iowa counties, as measured by either the average monthly unemployment level for the most recent 12-month period or the average annualized unemployment level for the most recent five-year period. Changes for FY14 include the addition of Keokuk, Jones, and Madison and the removal of Fremont, Page, Worth, and Wright counties.
For questions about the FY14 laborshed wages or distressed county list, please contact:
Rita Grimm, COO
Iowa Economic Development Authority