12. Iowa

An inexpensive place with a friendly regulatory climate, Iowa ranks well annually. But the state’s workforce is less than a bumper crop, with a shortage of skilled labor.

Category
Score
2014 Rank
2013 Rank
Cost of Doing Business 334 7 13
Workforce 128 37 40
Quality of Life 183 20 14
Infrastructure & Transportation 192 25 (Tie) 28
Economy 245 18 5
Education 84 22 (Tie) 15
Technology & Innovation 130 29 30
Business Friendliness 156 9 9
Cost of Living 39 12 (Tie) 16
Access to Capital 1 49 (Tie) 31
Overall 1492 12 11

Economic Profile

Governor: Terry Branstad, Republican

Population: 3,090,416

GDP growth: 2.9 percent

Unemployment rate (May 2014): 4.3 percent

Top corporate tax rate: 12 percent

Top individual income tax rate: 8.98 percent

Gasoline tax: 40 cents/gallon

Bond rating/outlook: Aaa/stable

Major private employer: Hy-Vee Food Stores

Economic profile sources: Federation of Tax Administrators, American Petroleum Institute, Moody's Investor Service, Bureau of Economic Analysis, Bureau of Labor Statistics, Iowa FY 2013 CAFR

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