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Iowa Economic Development Guide 2015-2016

December 11, 2015

Category: Economic Development

In Iowa, we are committed to building a strong, diverse economy and raising the standard of living for our citizens. We do this through a focused economic development strategy that spurs innovation, allows for business growth and creates jobs. We invest the time and energy to understand the needs of industry and partners to create solutions to challenges and put them in place quickly. Our nimble and collaborative approach is paying off as the state had a record-breaking year in manufacturing exports, we’ve attracted over $11 billion of private capital investment projects over the last four years, and every corner of the state has benefitted from business expansions from top-tier companies.

Iowa is able to quickly react to global market and industry needs because our fiscal house is in order. We are the fourth-best managed state with a perfect credit rating and a balanced budget. The state’s fair regulatory environment allows for Iowa CEOs to confidently invest in R&D, hire additional employees or expand into new international markets. Plus, we recently approved the largest property tax cut in Iowa’s history that will save taxpayers $4.4 billion over the next decade.

Today, as the nation deals with critical infrastructure issues, Iowa has recognized that a vital component of growing our exports and working with emerging international markets is transportation infrastructure — so we are investing in critical, structural improvements to keep Iowa a global force to be reckoned with.

In 2015, the Iowa Legislature approved the first significant increase for road and highway infrastructure in 25 years. With that, Iowa will invest $3.2 billion over five years to improve the state’s highways, bridges and connections to US interstates (I-29 / I-80 / I-35). These key improvements will elevate the state’s ability to attract major exporters who already benefit from a reliable statewide rail system, several regional airports and the Mississippi River along our state’s eastern border.

Our low cost of doing business and access to productive and well-trained employees help us attract additional investment from existing business, while also keeping Iowa on the short list for companies looking for a new place to land. You know you’re on the right path when companies in your own backyard continue to invest in your state. Time and time again, well-respected global companies like DuPont Pioneer, Rockwell Collins and The Principal Group attribute their growth and innovation to the skilled, productive Iowa workforce and business-friendly environment in the state. Combine top-notch education, affordable housing and utilities, plus a 20-minute average commute, and you’ve got the recipe for a content and committed workforce.

So, if you’re looking for a collaborative and focused state government and lower
operating costs, give us a call. Iowa is ready to help move your business forward.

Terry E. Branstad