Industry leaders in insurance and financial services have turned to Iowa for its superior business climate that offers flexible assistance for qualifying business expansions or relocations. For decades, Iowa’s pro-business policies and progressive, pro-business legislation have resulted in direct financial assistance, tax advantages and a supportive regulatory climate for both existing companies and those taking a look at what the state has to offer.
Insurance and financial services companies in Iowa are benefiting from advanced technologies that help unleash the creative potential, knowledge and productivity of Iowa’s motivated workforce. And, they’re attracted by the state’s ongoing investment in amenities that enhance Iowa’s quality of life and provide an enviable setting for workers — especially the growing number of families seeking a balance between career and home life.
- In recent years, Iowa has lowered its insurance premium tax by half to just one percent — one of the lowest rates in the nation.
- There are 43,000 insurance industry professionals currently employed in Iowa, which is a net increase of 4,200 new jobs over the last 15 years. (Iowa Workforce Development, 2014)
- Iowa's insurance industry output as a percent of gross domestic product ranks second among the 50 states. (U.S. Bureau of Economic Analysis, 2012)
- Iowa does not charge premium taxes on sales of annuities or qualified life insurance plans.
- Iowa does not assess any additional surtaxes or income taxes on insurance carriers.
- Iowa’s New Jobs Training Program provides funding for various costs associated with new worker training and education.
- Iowa is acknowledged as a leader in insurance regulation. The Iowa Insurance Division has earned a reputation for oversight that is efficient, responsive and fair.
Companies already at work in Iowa: