Skip to comments.Iowa Association of Business and Industry’s Message to the Legislature: We Need Tax Reform
Posted on 10/01/2013 7:45:08 AM PDT by iowamark
If you mention the state of Iowa to the average American, a Midwestern agricultural state covered by acres of corn and soybeans immediately comes to mind. College football fans might know that the Hawkeyes rank as a Big Ten Conference Legend. Folks of the political bent would respond that the Republican Presidential straw poll is conducted from the campus of Iowa State University in Ames every four years. From this small college town, thirty seven miles north of Des Moines, a straw poll victory can thrust a candidate into the national spotlight. Conversely, a loss can dampen the aspirations of many others. History shows that the Iowa straw poll is not a very good prognosticator of the ultimate Republican candidate, but it does serve as a bell weather of conservative Midwestern values.
But if you are a business owner who calls Iowa home, your response may not be quite as up-beat and glowing. The fact that Iowa ranks at number twenty-three on the 2013 chiefexecutive.net list of Best and Worst States for Business, dropping a point from last year, is certainly not a welcome accolade. Internal Revenue Service data shows that the state is bleeding residents, wealth and industry to business magnets like Florida and Texas. Between the years of 1992 to 2010, the state actually lost $ 3.5 billion dollars of Adjusted Gross Income (AGI) to Florida, Texas, Minnesota, Arizona, and Missouri.
All of this has not escaped the attention and concern of the Iowa Association of Business and Industry, the states largest business association. The association is comprised of 1,400 businesses that employ over 310,000 workers. During a recent conference in Des Moines, association board chairman Myron Linn acknowledged property tax reductions passed by the state legislature in 2012, but expressed strong feelings that the state needs to do far more in the way of tax and regulation reforms in order to put Iowa on equal footing with those states competing for Iowas businesses, as well as attract highly qualified workers. To this end, the association prepared its list of priorities to be presented to the Iowa State Legislatures 2014 session, set to meet in January.
While all of these requests may not immediately come to pass, this powerful and influential organization will certainly have its voice heard. Who knows, maybe the next time Iowa is mentioned to the average American their response will be, Its a place where I would like to raise my family and build my business.
BTW: How Money Walks is a great website.
Iowa produces some great conservatives, but lets face it the great wave of WASP migration out of the Burnt Over district of New York still reverberates to this day. Iowans are so morally sanctimonious that I loathe even driving thru it and I wish I did not have to several times a year.
That will tick the tax bite up a notch or two dontchyaknow.
Odd things about Iowa:
Eastern Iowa, heavily Catholic and manufacturing, is a strong base of support for Democrats like Senator Tom Harkin.
Meat packing and other food processing companies employ tens of thousands of illegals, making it surprising that anti-Amnesty and Chamber of Commerce stalwarts Senator Chuck Grassley and Representative Steve King keep getting re-elected.
Despite record high farm income, small towns are dying.
Despite living a conservative lifestyle, Iowa isn’t really a Bible Belt kind of place.
I looked at buying an office park in a small town and property taxes were 44% of revenue. Business pay BIG taxes!