A new CNBC study of top states for doing business ranks Iowa 9th in the county. The study ranked states by ten different factors, including: economy; business friendliness; cost of living; education; quality of life; workforce, technology, and innovation; access to capital; and infrastructure and transportation.
Of the ten categories, Iowa ranked about average in seven. Iowa was ranked number one as the least costly state of doing business. Cost of doing business was calculated by looking at tax burden, including individual income and property taxes, as well as business taxes, particularly as they apply to new investments. They also looked at cost of wages and rental costs for office and industrial space.
- Workforce-Calculated by looking at education level of and number of available workers. Iowa was ranked 21st.
- Quality of Life-Based on local attractions, the crime rate, health care, as well as air and water quality. Iowa ranked 18th.
- Economy-Measured using economic growth numbers, state budget surpluses or deficits and number of major corporations in the state. Iowa ranked 5th.
- Infrastructure and Transportation-Calculated by measuring the value of goods shipped by air, land and water, the availability of air travel in each state, and the quality of the roads. Iowa Ranked 37th.
- Technology and Innovation-Ranking based the number of patents issued to their residents, and the deployment of broadband services. Also considered federal health and science research grants to the states. Iowa ranked 28th.
- Education-Based on test scores, class size and spending, and the number of higher education institutions in each state. Iowa ranked 15th.
- Business Friendliness-Based on legal and regulatory framework. Iowa ranked 11th.
- Access to Capital-Measured access to capital. Iowa ranked 35th.
- Cost of Living-Measured cost of living, including housing, food and fuel costs. Iowa ranked 14th.