DOING BUSINESS IN IOWA
Iowa Economic Development Authority
515-348-6200
opportunities@iowaeda.com
www.iowaeda.com
“Doing business in Iowa is about relationships, and the direct access to decision-makers here is incomparable. Iowa’s work ethic, prime location, low costs and competitive initiatives drive business growth, while a commitment to collaboration, innovation, and resource networks elevates it further.”
— Debi Durham, Director, Iowa Economic Development Authority and Iowa Finance Authority
TARGETED GROWTH SECTORS
Manufacturing: As Iowa’s largest industry, manufacturing accounts for 17% of the state GDP, with 4,300 manufacturers employing 15% of the workforce.
Insurance/Finance: Iowa ranks 1st in the U.S. for insurance industry output as a percent of GDP, and nearly 7,400 finance and insurance companies operate in the state.
Biosciences: Iowa is a hub for biosciences, leveraging agricultural strengths, as the nation’s leader in corn (#1), soybean (#2), and biofuels (#1) production, and research capabilities to spur biobased innovation.
TOP PROJECTS (CAPITAL INVESTMENT)
COMPANY | CITY | INVESTMENT |
Vemerald/Meta Platforms, Inc. | Davenport | $800 million |
Daisy Brand LLC | Boone | $626.5 million |
Google LLC | Cedar Rapids | $576 million |
Nestlé Purina Petcare Company | Fort Dodge | $175 million |
Acadia Healthcare Company | Council Bluffs | $64.5 million |
FAST FACTS
Population (2024 est.): 3,214,320¹
Largest Cities (2024 est.) : Des Moines (209,232); Cedar Rapids (135,358); Davenport (99,921); Sioux City (85,710); Ankeny (76,435)¹
Real GDP (2023): $247.2 billion²
¹U.S. Census Bureau
²Bureau of Economic Analysis, U.S. Dept. of Commerce
MEGA PROGRAM
Iowa recently approved the MEGA (Major Economic Growth and Attraction) program, an incentive aimed at attracting projects with more than $1 billion in capital investment and high-quality job creation. The competitive tax benefits offset the costs for large-scale development projects to locate in Iowa.
TOP BUSINESS FACILITIES RANKINGS
| #2 AgriTech | 2024 State Rankings |
| #2 Wind Power (Installed MW) | 2024 State Rankings |
| #3 Manufacturing (Job Growth) | 2024 State Rankings |
| #3 Remote Work: Council Bluffs | 2024 Metro Rankings |
| Top 5 Most Affordable Cities (Small): Davenport | 2024 Metro Rankings |
| Top 10 Best Business Climate (Mid-Sized): Des Moines | 2024 Metro Rankings |
