Trying to find the best industrial bays and buildings for you in Iowa? Check out the listings above and see all the options we have.Iowa is a Midwestern state in the United States and is home to a variety of industries that contribute to its Gross Domestic Product (GDP). The state's top industries are agriculture, manufacturing, and services, which make up for a significant share of the state's economic output. Agriculture is the largest industry in Iowa and contributes around 17% of the state's GDP. This includes a variety of crops, such as corn, soybeans, hogs, and poultry. Manufacturing is the second-largest sector and is responsible for around 17.14% of the state's GDP. (https://www.nam.org/state-manufacturing-data/2022-iowa-manufacturing-facts/)
Iowa is home to a number of major automotive, chemical, and food processing plants. The services sector is the third-largest industry and accounts for around 10% of the state's GDP. This includes finance, insurance, real estate, health care, and other professional services.
The state's labor force is spread across a variety of industries, with the largest being manufacturing, which employs more than 17% of the total workforce. The services sector is the second-largest employer, accounting for around 14% of the total labor force. Agriculture, though the largest industry in terms of GDP, is the smallest employer, accounting for just 5% of the total labor force.
In terms of economic trends, Iowa has seen a steady growth in its GDP over the past few years, driven primarily by the manufacturing sector. The services sector has also been growing steadily and has seen a significant increase in its share of the state's GDP due to the increasing demand for professional services. The agricultural sector has also seen some growth, though at a slower rate.
In terms of ranking data, Iowa ranks in position 30th in terms of GDP growth, with an annual growth rate of 1.64% (https://www.deptofnumbers.com/gdp/iowa/)
The state also ranks in position 28th job growth, with an average of 2.1% growth in the total number of jobs. (https://www.usnews.com/news/best-states/rankings/economy)
Iowa is also ranked in 28th position for median income, with a median household income of $61,836. (https://worldpopulationreview.com/state-rankings/median-household-income-by-state)
Overall, Iowa's economy is driven by its major industries, including agriculture, manufacturing, and services. The state's labor force is spread across these sectors, and its economic trends have been positive in recent years. Iowa also ranks in the top twenty states in terms of GDP growth, job growth, and median income.