51 Iowa Business Stats & Facts For 2025

Here are 51 business stats about Iowa for 2025.

Basics:

Population: 3,207,004 (US Census 2020)
Population desnity per square mile: 57.10
GDP: $248,923 (millions USD)
GDP Per Capita: $78,209
Median household income (in 2022 dollars): $70,571
Real GDP Growth Rate: 1.30%
Total Employment: 1.7m
Unemployment Rate: 3.0%

Rankings

% Share of National Economy: 0.91%
State Economic Growth Rank (out of 50): 31
Population Growth Rank (out of 50): 29
Business Growth Rank (out of 50): 42
State Growth Rank in Employment (out of 50): 15

Biggest Industries In Iowa By Revenue

1. Life Insurance & Annuities: $60.0b
2. Farm Supplies Wholesaling: $21.0b
3. Corn, Wheat & Soybean Wholesaling: $19.3b
4. Meat, Beef & Poultry Processing: $19.1b
5. Commercial Banking: $16.9b
6. Margarine & Cooking Oil Processing: $15.3b
7. Hospitals: $13.9b
8. Property, Casualty and Direct Insurance: $13.5b
9. Organic Chemical Manufacturing: $12.4b
10. Tractors & Agricultural Machinery Manufacturing: $11.2b

Biggest Employers In Iowa

1. State of Iowa: 69,700 (4.2%)
2. UnityPoint Health: 30,000 (1.8%)
3. Walmart: 18,965 (1.1%)
4. MercyOne: 18,000 (1.1%)
5. University of Iowa: 14,000 (0.8%)
6. Wells Fargo & Company/Mn: 13,750 (0.8%)
7. Raytheon Co.: 9,000 (0.5%)
8. Deere & Co: 8,652 (0.5%)
9. Principal Financial Services, Inc.: 6,600 (0.4%)
10. Hy-Vee, Inc.: 5,254 (0.3%)

Small Businesses In Iowa

Number of Small Businesses 272,465
Percent of bossiness that are small businesses: 99.20%
Number of employees: 638,811
Share of Employment: 45.90%
Number of New Businesses In The Past Year: 9,797
Number of Businesses That Closed In The Past Year: 7,599
Net Change In New Businesses: 2,198

Number of Businesses With No Employees: 211,710
Number of Businesses with 1-19 Employees: 53,358
Number of Businesses with 20-499 Employees: 7,397
Share of Businesses Owned By Women: 43.20%
Share of Businesses Owned By Veterans: 7.30%
Share of Hispanic Owned Businesses: 3.00%
Share of Businesses Owned By Racial Minorities: 4.80%

Fortune 500 Companies In Iowa

Number of Fortune 500 Headquaters: 2
Biggest Company: Principal Financial
Biggest Company Type: Insurance: Life, Health (Stock)
Number of Employees: 19,300
Revenue (in millions): $17,492

Taxes In Iowa

State Corporate Tax Rate:

• 5.50%
• 7.10%

State Corporate Tax Rate Brackets:

• $0
• $100,000

State Sales Tax Rate: 6.00%
State Sales Tax Rank (out of 50): 17
Average Local Sales Tax Rate: 0.94%
Max Local Sales Tax Rate: 2.00%
Average Combined Sales Tax Rate: 6.94%
Combined Sales Tax Rank (out of 50): 29

Minimum State Income Tax Rate If You’re Single: 4.00%
Minimum State Income Tax Rate If You’re Married: 4.00%

General Iowa Population Facts

In civilian labor force, total, percent of population age 16 years+: 66.50%
In civilian labor force, female, percent of population age 16 years+: 62.30%
Share of population which is foreign born: 5.60%
Mean travel time to work (minutes), workers age 16 years+: 19.6

Housing

Number of Housing Units: 1,449,340
Owner-occupied housing unit rate: 71.50%
Median value of owner-occupied housing units: $181,600
Median gross rent per month: $914
Households with a computer: 92.70%
Households with a broadband Internet subscription: 86.30%

Education

High school graduate or higher, percent of persons age 25 years+: 93.00%
Bachelor’s degree or higher, percent of persons age 25 years+: 30.30%

Also See

• Iowa Registered Agent Services
• Iowa Secretary of State Business Search
• How To Form an LLC In Iowa
• Iowa Bookkeepers & Bookkeeping Services

Sources

• https://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_GDP
• https://en.wikipedia.org/wiki/Economy_of_Iowa
• https://www.ibisworld.com/united-states/economic-profiles/iowa/
• https://taxfoundation.org/data/all/state/2024-sales-taxes/
• https://taxfoundation.org/data/all/state/state-corporate-income-tax-rates-brackets-2024/
• https://taxfoundation.org/data/all/state/state-income-tax-rates-2024/
• https://advocacy.sba.gov/2023/11/14/2023-small-business-profiles-for-the-states-territories-and-nation/
• https://advocacy.sba.gov/wp-content/uploads/2023/11/2023-Small-Business-Economic-Profile-IA.pdf
• https://www.bls.gov/eag/
• https://www.bls.gov/regions/midwest/iowa.htm#eag
• https://www.census.gov/quickfacts/fact/table/IA,US/PST045223
• https://www.50pros.com/fortune500