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> About the State of Iowa > Overview |
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Here’s how Iowa stacks up against other states in particular areas. |
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■Major Industries |
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Iowa is a key player in the U.S. in the production of corn, soybeans and other agricultural products, pigs, cows and other stock farm products and their processed food, manufacturing of industrial machinery and its components, as well as the biotechnology field including genetic modification, as well as the insurance business. |
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■Location |
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Iowa is positioned roughly in the center of the U.S. and has the Mississippi River and the Missouri River on the east and west sides respectively, which vessels can travel. Additionally, interstate highways connected to various parts of the U.S. intersect in the state capital, Des Moines, which is convenient for distribution. You can reach any major cities in the Midwest within several hours by car. |
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■Preferential Taxation |
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The corporation tax in the state is imposed only on gross sales profits within the state. If a company conducts all of its sales activities outside of the state, it is not required to pay corporation tax even if it is situated in Iowa. As just described, the state government gives preferential tax treatment to provide considerable tax deductions and exemptions. |
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■Low Power Charges for Industrial Use |
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Electric power for industrial use is provided stably and at low cost. |
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■High-level Education |
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The state boasts a high education level and consistently ranks high in SAT and ACT scores. |
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■Security |
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Both the prices of commodities and medical expenses in the state are recognized as the lowest in the U.S. Further, due in part to a low crime rate, it is positioned as a very livable state. |
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