TAI Members –

Below you will find detailed information about how to apply for state assistance for your internship programs through the Iowa Economic Development Authority.  A few key things to remember:

• Online applications accepted beginning 9/1/15
• There is $1,000,000 available for state assistance to innovative Iowa businesses.
• Awards are up to $5,000/intern (on up to $10,000 W-2 wages paid) and $100,000/employer. 
• Awards will be made to qualified applicants on a first come, first serve basis. 

We will be pursuing additional funding for this this program next session- so please DO NOT DELAY in submitting applications.
 
Mark Joyce
Joyce Consulting, Inc.
515-238-8860
iowa.lobby@gmail.com

Overview
The purpose of the STEM internship program is to assist in placing Iowa students studying in the fields of science, technology, engineering, and mathematics into internships that lead to permanent positions with Iowa employers.

Eligibility
The program is available to employers that meet all of the following criteria:

• The employer must be an Iowa-based business and have a significant employment presence within the state of Iowa.
• The employer must be employing students who have declared a major in a STEM field.
• The students must be employed as interns at a location in Iowa.
• The employer must pay the student an hourly wage that is at least twice the minimum hourly wage. ($14.50/hr).
• The employer must offer the internship to students of Iowa community colleges, private colleges, or institutions of higher learning under the control of the state board of regents or to students who graduated from high school in Iowa but attend an institution of higher learning outside the state of Iowa.
• The employer must offer either summer or semester based internships. The summer internships must have a minimum duration of 8 weeks (averaging no less than 30 hours per week), and the business’s semester internships must have a minimum duration of 14 weeks (averaging no less than 10 hours per week).

Eligible Students: A student at one of the Iowa community colleges, private colleges, or institutions of higher learning under the control of the state board of regents or a student who graduated from high school in Iowa but attends an institution of higher learning outside the state of Iowa that has declared a major in a STEM field. * STEM field includes all majors listed on the ACT-defined STEM majors and occupations by area list.

Awards and Spending Guidelines

• Funds will be disbursed on a reimbursement basis and as a portion of the wages actually paid to a student. The amount of the reimbursement will be calculated to result in an equal share of the cost being borne by the employer and IEDA.
• IEDA provides assistance on a reimbursement basis for every two dollars of wages earned by the student, one dollar paid by the business is matched by one dollar from IEDA.
• The maximum amount that may be awarded to any one employer in any one fiscal year shall not exceed $100,000.
• IEDA will only reimburse the employer for wages paid on or after July 1, 2014. You may apply for past internships (Fall 2014, Spring 2015, and Summer 2015) or future internships (Fall 2015, Spring 2016, and Summer 2016).
• Program funding is awarded on a first come, first serve basis until funding is depleted

*An employer that has or will apply during the same state fiscal year to the Iowa Student Internship Program under 261 IAC chapter 104 is ineligible for the program.

Internship Experience
The intern must be involved in a substantive experience in an area closely related to the student’s STEM field.

How to Apply
IEDA staff welcomes the opportunity to work with companies to determine the most beneficial programs and resources to support each project. 

The application will become available after September 1, 2015.  APPLY HERE for the STEM Internship Program.
 

The final deadline for fiscal year 2016 applications is April 30, 2016 (or when funds are depleted). Summer 2016 internships must be completed by September 2016.

At this time, you may apply for past internships (Fall 2014, Spring 2015 and Summer 2015).  You must decide to apply for either PAST OR FUTURE internships.

STEM Program Reimbursement Documentation

Applicants must submit the following documentation:

Online Application

• Internship descriptions, pay rates, hours per week and number of weeks worked
• Affidavit (filled out, signed, notarized and stamped)
  - Applications will be processed in the date/time order received by the IEDA.

After the application is reviewed and the company receives an award notification from IEDA, the company will submit:

• Executed contract
• Intern selected form (Interns will submit placement Electronically and must be approved by supervisor)
• Payroll report, earnings summary or similar payroll documentation for each intern which identifies total weeks worked, gross wages and hourly wage
• Solid and hazardous waste reduction information
• Signed and dated GAX (reimbursement) form provided by IEDA
• W-9
• Final Manager and Intern reports

After all documentation is received and reviewed for approval, the IEDA will issue payment for up to half the intern wages up to $5000 per intern and a maximum reimbursement of $100,000 per employer in the fiscal year.

Note: Companies that received Iowa Student Internship Program (Targeted Industries) money for the July 1, 2014 to June 30, 2015 are not eligible to apply for reimbursement under the STEM Program. 

Please contact Jennifer Meier, Jennifer.meier@iowa.gov if you have further questions.

Iowa Economic Development Authority | 200 East Grand Avenue | Des Moines, Iowa 50309 | 515.725.3000