Iowa

Economic policy

Since World War II, the state government has attracted new manufacturing industries to Iowa by granting tax incentives and by encouraging a favorable business climate. The Iowa Department of Economic (IDED) coordinates economic development activity in the state. It helps local communities diversify their economies, assists companies already in the state, and helps exporters to sell their products abroad. In the 1990s, the Iowa state government stressed such development goals as agricultural diversification, increased small-business support, creation of high-tech jobs, and expansion of tourism. In 2003, the Iowa Values Fund Board was allotted $9 million to help businesses with start up, expansion, modernization, business attraction, business retention, and marketing. Another initiative was the Venture Network of Iowa (VNI), which, among other activities, facilitated bi-monthly networking meetings of Iowa entrepreneurs, investors, and business advisors. Event sponsored by the IDED in 2003 included an Iowa Venture Capital Conference, and Farm, Food and the Future Conference (focused on marketing Iowa farm products). The state also offers financial assistance programs to businesses for programs to retain or create jobs, capital investment, to utilize agricultural commodities, to establish or expand minority and women-owned enterprises, to support low income and disabled entrepreneurs, to build or improve a community's infrastructure (railroads, roads, etc.), and to foster construction of new industrial facilities.