POPULATION: 2,988,046 (2007 Census estimate)

LABOR FORCE: 1,661,000 (2007)

Right to Work: Yes

TRADITIONAL INDUSTRIES: Value-added agriculture, manufacturing

EXPANDING INDUSTRIES: Advanced manufacturing, financial services/insurance, biosciences, information solutions

COLLEGE GRADUATES: (Age 25 and over) 25.2%

BASIC BUSINESS TAXES:
Corporate Income Tax: Imposed on net income from sales within Iowa, after deducting 50 percent of federal corporate income tax; rates are 6 percent on the first $25,000, or any part thereof; 8 percent on the excess over $25,000 but less than $100,000; 10 percent on the excess over $100,000 but less than $250,000; and 12 percent on the excess over $250,000

Sales Tax: 5 percent on transactions involving the transfer, exchange, or barter of tangible personal property, on certain enumerated services, and gross receipts from the sale of optional service of warranty contracts; communities and schools may impose a local option sales tax

Use Tax: 5 percent

Property Tax: Manufacturing machinery and equipment, as well as computers used to process data, are exempt from taxation; pollution-control equipment is also exempt.

BUSINESS INCENTIVES:
Iowa Community Economic Betterment Account - CEBA (loans, grants, guarantees, comprehensive management assistance)
Enterprise zones
High Quality Jobs Creation Program - HQJC (tax credits and exemptions for large investments)
Entrepreneurial Ventures Assistance - EVA (loans, technical assistance)
Value-Added Agricultural Products and Processes Financial Assistance Program - VAAPFAP (loans, grants)
Economic Development Set-Aside Program - EDSA (loans, grants)
Iowa New Jobs Training Assistance
Targeted Small Business Financing - TSB (loans, grants)
Self-Employment Loan Program - SELP (loans)
Export Trade Assistance Program
Urban revitalization areas
Tax exemptions for industrial property
Tax credits for new employees and research & development
Local Tax Increment Financing Authority
Federal SBA direct loans and guaranteed loan programs