Key Facts
- Per Capita Real GDP
- $35,814 Rank: 24/50 (2007)
- Population
- 3,002,560 Rank: 30/50 (2008)
- Per Capita Personal Income
- $33,236 Rank: 30/50 (2006)
- Unemployment Rate
- 3.60% Rank: 13/50 (2008)
- Business Tax Climate Index
- Rank: 45/50 (2008)
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Iowa: Introduction
Iowa is located in the central United States and is usually included in the Midwest region. The area that makes up the present-day state’s territory came under United States jurisdiction with the Louisiana Purchase in 1803. Originally part of the Wisconsin Territory, present-day Iowa and parts of the surrounding states separated and then combined to form the Iowa Territory in 1838. Iowa became the 29th state on December 28, 1846.
Iowa’s agricultural efficiency has led it to be the nation’s third most productive agricultural state, only behind Texas and California in terms of total output. Approximately 87% of the total land area is dedicated farmland. Corn and soybeans are the two most important crops to the state. Corn is largely used as feed for livestock, which are also raised on the farms. In this crop-and-livestock system, farmers produce corn to feed their livestock, which are then sold to market. Soybeans are also used as livestock feed. In addition, the crop is used in foodstuffs and manufactured products Along with other crops, soybeans function well in crop rotations by restoring nitrogen to the soil.
The economic base for Iowa began to shift in the second part of the twentieth century, from agriculture to manufacturing and services. Although Iowa produces ten percent of the US food supply, the value of Iowa's manufactured products is twice that of its agriculture. Other major industries include food and associated products, non-electrical machinery, electrical equipment, printing and publishing, and fabricated products.
