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Iowa

Iowa

With growing sectors in advanced manufacturing, biosciences and information technology, Iowa is building on a traditional base of industries that provide products and services throughout the world. Success in industrial machinery, metals, aircraft electronics, food, insurance and financial services drives the “life changing” state. Ethanol is the latest sector success. Sixteen plants churn out 920 million gallons of ethanol annually, making Iowa the largest producer of this fuel in the US. From the centre of North America, Iowa provides a strategic business location for many companies entering the US market or expanding a US presence.

Best performer

A stellar performance in 2004 pushed Iowa to the top as the fastest-growing economy in the US with an 8.1% increase in economic output (Gross State Product) over the previous year. Nationally, the average growth was 4.2%, according to the US Bureau of Economic Analysis.

Highly competitive

A new report comparing business costs of the 50 states in such categories as electricity, taxes, wages, industrial and office rents offers testimony to why the Iowa economy is growing so fast. Typical business costs in Iowa are lower than 47 other states, according to the 2005 study of California-based Milken Institute.

Growing british-owned operations

Wolseley PLC, the world’s largest distributor of heating and plumbing equipment, is building a $3m distribution centre in Waterloo, Iowa though its US subsidiary Ferguson Enterprises. New college testing contracts are part of on-going growth of Pearson PLC, which employs 1,600 Iowans at data centres in Cedar Rapids and Iowa City. Associated British Foods owns the world’s largest spice production facility in Ankeny, paying $1.3bn for Tone Brothers and expanding into more than 3,500 products.


Ship it anywhere

Exports of Iowa-manufactured goods increased by 22% in 2004 to a record high of $6.4m. Although exports from Iowa flow to more than 180 of the world’s nations, the UK is Iowa’s fourth largest export market after Canada, Mexico, and Japan.

Seeking assistance

What companies’ value from working with the Iowa Department of Economic Development is the expertise and experience of the staff in helping you evaluate possible business locations, meet people who can help, and pursue state financial incentives for investing and creating jobs in Iowa. Our consultations are free and confidential.

For more information, contact:
International Office/Business Development
Iowa Department of Economic Development
200 East Grand Avenue
Des Moines, IA 50309 US
Tel: +1 515 242 4707
Website: www.IowaLifeChanging.com


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