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Iowa: Selling Technology and Lifestyle(cover)
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Iowa: Selling Technology and Lifestyle


IOWA:
Selling Technology and Lifestyle

The Hawkeye State stages a comeback, and it expects to grow
not only its large agricultural base, but its insurance
and high-tech clusters as well.

B Y     F R E D E R I C K     B U R G E R

The farm crisis of the 1980s was devastating to Iowa's economy. Thousands of family farmers went out of business, land values were down, and crops were not bringing much money. It all played a wrenching role in the downward spiral of the state's economy. Analysts say 270,000 more people left Iowa during the decade than moved there.

Now all that's in the past, and Iowa has staged a comeback. The Iowa economy, reflecting national trends, is strong. More people are moving into the state to take jobs than leaving to find work. And Iowa has embarked on a number of aggressive programs to diversify and lure a wide range of industry -- telecommunications and insurance are major targets -- which will generate growth and attract more people.

The underpinning of the state's economy is agriculture, and there is a vigorous effort to develop value-added products. More about that later.

I O W A     V I T A L     S T A T I S T I C S
Category
Value
Rank*
Date
Gross State Product (Mil.$)**
80,479.0
29
1997
Productivity Index (U.S.=100)
85.6
39
1997
Total Population (000s)
2862.4
30
1998
Unemployment Rate (%)
2.6
47
May-99
Labor Force (000s)
1584.0
30
May-99
Tax Rate Index (U.S.=100)
90.2
37
1998
Median Existing Home Price (Ths.$, SA)**
87.4
45
99Q1
Median New Home Price (Ths.$,SA)**
150.5
24
99Q1
Source: the Dismal Scientist      * Rankings include only U.S. states      ** U.S. Dollars

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