Friday, August 17, 2007
Iowa Ranks Number Two Nationally In "Cost Of Doing Business"
Ranking is the state's best-ever ranking in the history of the study
(Des Moines) In a report issued by the Milken Institute, a nonpartisan economic think tank, Iowa ranked second in the nation in "Cost-of-Doing-Business," the state's highest ranking in the history of the study.
"This study sends a strong nationwide message to entrepreneurs and business owners considering Iowa: the time is now," said Governor Chet Culver. "There has never been a better time to start or expand a business in Iowa. The people of Iowa enjoy a rich business environment, plentiful job opportunities and a quality of life that is second to none."
"This is one more example of why Iowa is a great place for business," said Iowa Department of Economic Development Director Mike Tramontina. "Studies like this help our efforts to aggressively recruit companies to locate and expand in Iowa."
The Institute's Cost-of-Doing-Business Index indicates each state’s comparative advantages or disadvantages in attracting and retaining businesses. Each state is measured on the five individual categories: state's tax burden, electricity costs, industrial rent costs, office rent costs and wage costs. Those weighted scores are compiled to make the overall index. An index score of 100 means that the state is equal to the U.S. average in that particular category.
In 2005, Iowa ranked third in the nation. In 2006, the state ranked fourth. For more information, go to www.IowaLifeChanging.com.