Market Research in Iowa
Known as the “Hawkeye State,” Iowa is in the Midwestern US.
Iowa boasts of being one of the safest places to live. It is the 30th largest state with a population of 3,123,899 (30th Largest State, 2015) and a land area of 55,869 sq. mi. (144,701 sq. km). The state capital is Des Moines. Large cities include Cedar Rapids, Davenport, and Sioux City. The Mississippi River forms its east border, and the Missouri and Big Sioux Rivers its west. Minnesota is to the north, Illinois to the East, Missouri to the South, and Nebraska to the West.
Agriculture
Iowa’s primary source of income is agriculture and food production. This state produces more than 7 percent of US food supply. Its farmers supply pork, soybeans, eggs, and corn. They are also well known for their turkey and dairy industries. Iowa also has a thriving bio-based products sector. Experts attribute the animal production increase to the high-quality feed.
Renewable Energy
Climate change is a topic of considerable concern not only in the US but in the world. Iowa is a leader in renewable energy, concentrating its efforts on wind generation output. It is also a leader in biodiesel and ethanol production. The American Council on Renewable Energy has classed Iowa as a leader in this industry.
Telecommunications Industry
This state is home to an ever-growing telecommunication sector. It has a statewide fiber-optic network, which provides connectivity to even the most remote rural areas. Data centers from Microsoft and Google have made their home in this state.
Strategic Location
Due to its location, Iowa offers a unique advantage to businesses. It is excellent for companies that deal with domestic and international suppliers. Transportation, distribution and warehousing institutions account for a huge chunk of its state GDP.
Ease of Doing Business
In 2018, US News recognized Iowa as the “Best State to Live.” It earned that ranking due to its healthcare, infrastructure, education, and opportunities. Iowa Provides business advantages as follows:
Tax Incentives
Comparable to other US states, IOWA offers benefits such as:
- A fifty percent deduction of corporate income tax.
- Non-unitary, single-factor tax. Iowa levies taxes solely on the portion of total sales income within the state.
Iowa offers tax incentives in the following – though not exhaustive – list below:
- personal property tax. Business owners do not have to pay taxes on raw materials, their inventories of goods-in-process, or commercial goods.
- on equipment, industrial machinery, or computers or purchases of same. The beneficiaries of this break are insurance companies and financial institutions. It also applies to some commercial enterprises. These entities must use the equipment for manufacturing or processing data.
- on materials used in the manufacturing process. There’s also a tax break on the buying of electricity or natural gas, propane or water. The company must be using these raw materials for manufacturing.
Right-to-Work State
Iowa law stipulates that no one can force an employee to register with a union. Employees do not have to pay dues or fees to any labor union, organization, or association.
Iowa provides Regulatory Assistance through a special program. Business and regulators can communicate with ease. This communication facilitates the fulfillment of the necessary processes in an expedited manner. It makes it easy to set up a business in the Hawkeye State.
The people of Iowa are productive, skilled, well educated, and known for their work ethic. Education is a valued commodity in Iowa, a state that continues to invest in its people.
Political Significance
Iowa is the location of the “Iowa Caucus” during the autumn and early winter of every fourth year as a result of the American elections. Political candidates come to Iowa to campaign. While other states have primaries, Iowa is one of the first to hold its caucus before other states hold theirs. As a result, the state receives a disproportionate amount of national and global attention. Iowa is important because it shows the opinions of an important cross-section of American voters located in the middle of the country. Politicians use the findings and results as a barometer to assess broader national opinion on political issues and candidates. Naturally, the fundraising efforts and tourism by candidates from all over the country boost the local economy.
About Market Research in Iowa
We conduct Qualitative, Quantitative and Strategy Market Research in Iowa. Key Qualitative Research methods include Focus Groups, Online Communities, Customer In-Depth Interviews, and Telephone Interviews. Our Quantitative Research methods include CATI Telephone Surveys, Online Surveys and Mobile Quantitative surveys. Our Strategy Research Group provides Market Opportunity & Entry research, Channel Intelligence, Innovation Research and Competitive Analysis.