50 in 50: Iowa

50 in 50: Iowa

50 states in 50 weeks: U.S. states economic and infrastructure highlights.

Key Economic Indicators

GDP: $180.3 billion

GDP 5-year compounded annual growth rate (CAGR) (2017-2021): 1.4% (U.S: 1.6%)

GDP per capita: $56,387 (U.S.: $58,154)

Population: 3.2 million

Population 5-year CAGR (2017-2021): 0.4% (U.S.: 0.5%)

Unemployment: 2.6% (U.S.: 3.9%)

Economic outlook ranking: #32 out of 50

Fiscal health ranking: #9 out of 50

Overall tax climate ranking: #38 out of 50

Key Sectors and Metro Areas

Top five industry sectors by 2021 GDP:

Top three industry sectors by GDP 5-year CAGR (2017-2021):

Top three metro areas by GDP:

• Des Moines-West Des Moines
• Davenport-Moline-Rock Island
• Cedar Rapids

Top three metro areas by population 5-year CAGR (2016-2020):

• Des Moines-West Des Moines
• Iowa City
• Cedar Rapids

Infrastructure Highlights

Infrastructure: ASCE Infrastructure Grade (2019): C

Iowa’s bridges, dams, and inland waterways are in poor condition according to the last survey conducted by the ASCE. Lock and dam systems such as the Keokuk’s on the Upper Mississippi River are important landmarks for the region’s export markets. There are 26 locks between St. Louis and St. Paul and many of them were built in the late 30’s with a 50-year life expectancy.

The state received better grades than those of the overall U.S. in Aviation, Energy, Levees, Public Parks, Roads, Solid Waste, and Wastewater. Iowa leaders have been focusing on numerous transportation issues and encouraging grant applications like the ones available for school bus emissions. The program’s grant application deadline is August 19, and it plans to convert diesel engines to run on battery, propane, or compressed natural gas. Another priority for Iowa is addressing nearly 4,500 structurally deficient bridges, which are mostly under county jurisdictions.

Over the next five years, Iowa’s Bipartisan Infrastructure Law (BIL) funds will address the following categories of projects (additional funds may be deployed as federal grants get awarded to states):

Construction spending (Value of Construction Put in Place – CPiP):

• Private Nonresidential 2020 CPiP: $4.2 billion; -9.2% 5-year CAGR (2016-2020), below overall U.S. CAGR of 2.0%
• State & Local 2020 CPiP: $5.4 billion; 5.6% 5-year CAGR (2016-2020), above overall U.S. CAGR of 4.8%

AE Industry

ENR 500 firm headquarters (2022): 6

M&A activity since 2018:

• 16 deals with buyers from Iowa
• 9 deals with sellers from Iowa

For customized market research, contact Rafael Barbosa at [email protected] or 972.266.4955. Connect with him on LinkedIn.