Earlier today the Iowa Economic Development Authority (IEDA) board approved awards to six companies proposing capital investment and job creation projects in Iowa. One of those companies is Microsoft Corporation. Microsoft’s newest investment in West Des Moines is poised to create 84 new jobs and bring $1.1 billion in new capital investment to the state. Since 2008, Microsoft’s total investment in Iowa now nears almost $2B.
To see all of the investment projects that were awarded today – view the complete board release here.
In late March the U.S. Bureau of Economic Analysis ranked Iowa among 10 states that experienced personal income growth 2012-2013. Across the entire state, Iowans’ income grew to $139.4 billion, up 3.2 percent from $135.1 billion in 2012. The latest numbers for median household income show Iowa families bringing in $50,997 in 2012, an increase of 2.8 percent from 2011.
As one of the most livable states in the country, Iowans can maximize their take-home pay and live the lifestyle they want. Crunch the numbers for yourself and just imagine the life you could build in Iowa.
Iowa’s international reputation as an insurance powerhouse will strengthen when the Global Insurance Symposium is held in downtown Des Moines (May 20 – 22, 2014). The conference is expected to attract more than 400 attendees — are you one of them?
The impressive speaker line-up includes Vice Commissioner, Masamichi Kono, International Affairs of the Japan Financial Services Agency; Senator Ben Nelson, CEO of the National Association of Insurance Commissioners (NAIC); Governor Tim Pawlenty; and Governor Dirk Kempthorne, President & CEO, American Council of Life Insurers (ACLI).
Topics that will be highlighted include:
Changing regulations in the international insurance marketplace
Global reinsurance and capacity
CEO panel discussion on global trends and how they impact U.S. businesses
Iowa identified its strengths and put the wheels in motion early on to create a successful financial and insurance industry cluster. It created a friendly tax structure and regulatory environment. It developed programs to elevate its workforce and collaborated with companies to invest in local arts and cultural projects to build vibrant communities. All of these efforts combined are why Iowa has become a strategic location advantage for insurance and financial services companies.
DID YOU KNOW?
More than 6,200 financial and insurance companies call Iowa home, with 80 of those insurers choosing the state for its headquarters.
While the U.S. insurance industry has been flat for the past 15 years, Iowa’s grew by 11 percent.
Nearly 100,000 financial and insurance professionals live in Iowa and are some of the most efficient and educated in the business.
Both Drake University and the University of Iowa have highly ranked actuarial science programs.
Iowa has lowered its insurance premium tax by half to just one percent — one of the lowest rates in the nation.
Our state insurance regulators have a national reputation for efficient oversight that is responsive and fair – check out a recent interview with Iowa Insurance Commissioner Nick Gerhart.
With no premium taxes on the sale of annuities, qualified insurance plans or surtaxes on insurance carriers, Iowa has built an environment where major companies like Principal, Nationwide, IMT, EMC AEGON, Grinnell Mutual and Prudential Retirement have prospered.