Business in Iowa Is Thriving Find Out Why
Top Reasons Business In Iowa Is Doing Well
When people first think of business in Iowa—for better or worse—most think of corn, agriculture, and farmers. And that makes perfect sense. For more than 20 years, Iowa has produced the largest corn crop of all 50 states, according to iowacorn.org. But if you look beyond our rich soil and abundant agricultural markets, you’ll see other business in Iowa exceeding tremendously in growth and diversity.
Each year CNBC ranks and reports on America’s top states for business. In 2013, business in Iowa ranked 11th overall among all states. Breaking down the results further, business in Iowa fared extremely well based on our economy (fifth in the nation) and our friendly business environment (ninth in the country). The cost of doing business in Iowa and the quality of life came in at 13th and 14th, respectively.
Perks of Business in Iowa
Business in Iowa are among only a handful of states that offer a refundable research activities credit. What does this mean for businesses? When businesses in Iowa invest in research and development and meet their tax liabilities, they can earn tax credits in the form of cash.
Our emphasis on innovation is another reason businesses are attracted to Iowa. Committed to expanding Iowa’s innovative focus and infrastructure, the Iowa Innovation Corporation partners with colleges, businesses, non-profits, and government to create jobs for today and for the future.
Once businesses decide to build or relocate to Iowa, they need to know they can retain and recruit qualified talent and labor within the state. Fortunately, Iowa offers high quality education from primary school to higher education. In fact, based on research from the U.S. Census Bureau. nearly 91% of Iowa residents are high school graduates.
According to ACT, Inc. whose headquarters are in Iowa City, Iowa students who took the ACT ranked 16th in the nation based on their composite scores. The ACT® college readiness assessment is a curriculum- and standards-based educational and career planning tool that assesses students’ academic readiness for college.
All three state universities—University of Iowa, Iowa State, and University of Northern Iowa—made the top 100 best value list for Kiplinger’s 2013 Personal Finance Magazine.
STEM (science, technology, engineering, and math) businesses will be happy to learn that Iowa universities graduate about 1,500 engineering students each year, according to EducationNews.com.
Many of Iowa’s private schools—including Drake, Grinnell, and Cornell— were also ranked in the top 100 for best value private in Kiplinger’s research.
Home to the Bridges of Madison County, Amana Colonies, Field of Dreams, Dutch and Czech settlements and museums, the Great River (as in Mississippi) Road National Scenic Byway, a rip-roaring fun state fair, and many other beautiful and cultural sites, Iowa is a state full of surprises. Midwest Living ranked their top 20 things to do in Iowa.
If you still think Iowa is just about corn, you need to visit and explore all the reasons businesses love Iowa. Did we mention that the people here are really friendly too?