Iowa ranked the 21st best state for business

With a one-year gross domestic product increase of 2.2 percent, Iowa ranked 21st best among the 50 states for its environment for business, based on 42 measures examined in a 24/7 Wall St. study released last month.

The website’s research ranked states according to broad categories such as economic conditions, business expenses, infrastructure conditions, skilled worker availability, quality of life, regulatory framework, living costs and the state of technology.

In Iowa, workers earn an average of $52,556 annually, according to the study. And 29 percent of state residents have a bachelor’s degree or greater.

Beginning a business venture is risky, according to 24/7 Wall St., with about 50 percent of all businesses going under in their first five years of operation. At the same time, the environments states create for businesses – involving factors such as tax codes and transportation infrastructures – can vary widely around the nation, the study found.

Best States in Which to Do Business

RankState1st-Year Real GDP ChangeAverage Earnings per JobAdults With Bachelor’s Degrees2018 Venture Capital Deals (per 100,000 People)1Massachusetts3.10%$75,63744.50%9.62Utah3.70%$52,36434.90%3.43Colorado3.50%$61,61741.70%54Washington5.80%$71,39036.70%4.95North Dakota3.60%$56,68129.70%0.96North Carolina2.40%$55,08631.90%1.87Idaho4.00%$47,81227.70%1.58Virginia2.60%$63,28139.30%1.79Maryland2.50%$68,24240.80%2.310Wyoming0.10%$55,12226.90%0.911Vermont1.20%$50,05438.70%3.812Delaware0.00%$61,81731.30%513California4.30%$73,81534.20%7.714Connecticut0.50%$75,49739.60%2.515New Hampshire2.30%$61,62636.80%2.416Minnesota2.60%$61,41536.70%2.217South Dakota1.90%$50,99129.20%0.318Texas4.00%$61,87530.30%1.519Montana2.60%$46,32131.70%1.120Florida3.20%$50,87930.40%1.121Iowa2.20%$52,55629.00%1.122Georgia2.40%$56,84331.90%1.123Oregon3.80%$58,34734.00%2.424Arizona4.10%$55,25429.70%1.225New York1.20%$79,18237.20%5.426Nevada4.20%$53,54324.90%1.327Nebraska0.90%$56,54432.40%128Michigan2.50%$57,74829.60%1.129Alaska0.70%$68,84430.20%0.430Indiana2.00%$55,60027.10%1.431South Carolina2.60%$50,89328.30%0.832New Jersey2.20%$71,22840.80%133Tennessee3.10%$56,65627.50%1.234Wisconsin2.40%$55,89630.00%1.335Arkansas1.70%$47,27223.30%0.936Rhode Island1.20%$58,67034.40%2.237Kansas2.10%$54,72733.80%0.738Maine2.20%$50,24731.50%1.839Oklahoma2.60%$54,28225.60%0.340Pennsylvania2.60%$63,57831.80%2.141Ohio1.90%$57,31929.00%1.342Illinois2.10%$66,04435.10%243Kentucky1.40%$50,68224.80%0.944Alabama2.80%$50,16525.50%0.545Missouri2.40%$54,34929.50%1.146Mississippi1.30%$43,76923.20%0.247New Mexico2.50%$49,53027.70%0.948Hawaii2.40%$59,57333.50%0.449Louisiana2.60%$53,23924.30%0.250West Virginia2.30%$51,09921.30%0.1

Source: 24/7 Wall St.

Submit a Comment