Mission Statement:
To continually improve the economic well being of all Iowans by working in focused partnerships with businesses, entrepreneurs, communities and educational entities.
Measures:
Cumulative number of jobs for all business projects receiving funds from IDED
Average starting wage levels
Capital investment
New state taxes from businesses
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Highlighted Measure:
Cumulative number of jobs for all business projects receiving funds from Iowa Department of Economic Development.
Data Source: Iowa Department of Economic Development records
Updated 11/1/07
Multiple graphs on results of economic development efforts
Why this is important:
This measure charts progress toward our goal of directly assisting companies to create or retain 50,000 high-quality jobs in five years. As of October 2007, we are at the 51st month of the 60-month period, and are at about 89% of the number of jobs to be “on track” at this point.
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Highlighted Measure:
Average Starting wage levels anticipated for all jobs incented by Iowa Department of Economic Development.
Data Source: Iowa Department of Economic Development records.
Updated 11/1/07
Multiple graphs on results of economic development efforts
Why this is important:
This measure affirms the high-wage nature of the jobs created or retained among firms receiving direct assistance from the State. The average wage is given for the cumulative jobs created or retained by the date given. This wage has consistently been well above the average wage for Iowa workers.
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Highlighted Measure:
Capital investment anticipated from business projects funded by Iowa Department of Economic Development.
Data Source: Iowa Department of Economic Development records
Updated 11/1/07
Multiple graphs on results of economic development efforts
Why this is important:
This measure shows the investment that companies receiving direct State assistance are making in their physical plant, machinery and equipment. Besides providing a substantial number of construction jobs (which are not counted in the permanent jobs created or retained), and this investment provides the capacity for business in Iowa to compete worldwide.
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Highlighted Measure:
Projected annual State taxes anticipated from business projects funded by Iowa Department of Economic Development.
Data Source: Iowa Department of Economic Development records
Updated 11/1/07
Multiple graphs on results of economic development efforts
Why this is important:
This measure shows the estimated increases in State taxes received from the businesses and their employees as a result of the assisted business projects. Besides providing good-paying jobs, the State will be better able to afford quality services such as education, safety, recreational opportunities, and other items that contribute to the quality of life.
What we’re doing about this: (Measures 1-4)
In recent years, the State has assembled the tools to achieve the goal of creating 50,000 high-wage jobs in industries equipped to compete world-wide, and to improve the State’s capacity to provide needed and desired public services. We are using the Iowa Values Fund, and other state business funds that have been re-tooled to increase marketing Iowa as a business location, to provide business financial assistance, university research, and other activities.