With its North American headquarters in Des Moines, Kemin Industries is a global manufacturer of specialty ingredients that advance the health and nutrition of humans and animals.
The CEO of Kemin, Dr. Chris Nelson, recently spoke with Site Selection magazine, and said the following about his company’s June 2015 expansion in Iowa:
“As lofty as our goals are and as technically complex our research and related science is, our success comes down to relationships — starting here at home. We could not have made this commitment without the help of the City of Des Moines, Polk County, the State of Iowa, and of course, our employees” – Dr. Chris Nelson, CEO, Kemin Industries
On April 27, entrepreneurs from California, Canada, Ireland, Missouri, New York and Wisconsin will take the stage at the Global Insurance Symposium in Des Moines, Iowa, and pitch their companies with millions in potential investment dollars on the line.
The entrepreneurs are participants in the second class of the Global Insurance Accelerator, the first-ever technology accelerator for the insurance industry, which was founded in Des Moines in 2014. The accelerator recently announced its first big success story, with a member of its inaugural class raising $750,000 in seed funding from a group of investors that included Iowa-based Grinnell Mutual Reinsurance Co.
It makes sense that companies in Iowa are pioneering insurance innovation. The state is home to more than 200 insurance companies, with more than 80 in the Des Moines metro. The names of the companies with headquarters or large offices in Iowa are sprinkled throughout the mentorship of the insurance accelerator, which includes large multinationals like Nationwide, Principal and Transamerica.
Insurance companies are attracted to Iowa by the deep talent pool – the state has one of the highest concentration of actuaries in the country – and the affordable cost of business. Iowa also incentivizes insurance companies with one of the lowest insurance premium tax rates in the nation, and no state corporate income tax on out-of-state sales.
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Iowa is one of the nation’s top producers of ethanol and biodiesel, which yields byproducts that are valuable materials in creating renewable chemicals. In addition, the state is home to several wet mills with available capacity.
Iowa is second in the nation for biomass availability
Iowa has 13.5 million acres of planted corn, the most of any state in the country, yielding millions of metric tons of available corn stover. Iowa also has more than 9.8 million acres of planted soybeans.
No other state matches our renewable chemical research and technological infrastructure
Iowa is home to the National Science Foundation Engineering Research Center for Renewable Chemicals led by Iowa State University (ISU), the ISU BioCentury Research Farm, the ISU Bioeconomy Institute and the University of Iowa Center for Biocatalysis and Bioprocessing. Graduates from these universities put skills learned at these institutions into practice at the state’s private companies.
Iowa has one of the nation’s lowest overall costs of doing business
Iowa has affordable electricity for large-scale operations
Iowa’s industrial electricity rates are 21 percent lower than the national average.
Iowa’s industry is served by an extensive transportation network
Iowa is served by major interstate and highways, more than 2,400 miles of railway tracks, 60 river barge terminals and international airports. The Iowa Economic Development Authority and the Iowa Department of Transportation will actually help your business map its supply chain to make it as efficient as possible. Contact email@example.com to learn more.