While locations throughout the state offer promising opportunities for business owners, Des Moines, in particular, seems to show the most promise, as, according to economists, it's the third best city to start a business in the United States. According to the state's Workforce Development, more residents of Iowa are working now than ever before. Compared to the national unemployment rate, which rose to 4.0 percent in January of 2019, it's clear to see that Iowa offers promise for the workforce, as well as business owners. As of January, 2019, the unemployment rate in the state was 2.4 percent, a 0.4 decrease from the previous year, when the unemployment rate was 2.8 percent in January of 2018. The state of Iowa has experienced positive economic growth in the past few years. Below, we offer a brief overview of both the economic trends for the state of IA, as well as what type of commercial insurance business owners need to carry in the state.
Furthermore, knowing what type of commercial insurance you need to carry is also vital for your success. If you are considering the state of Iowa as the home base for your business or as a new location for a branch of your company, being aware of the economic trends in the state are crucial. It's vital that the place you select for your organization offers a market that will respond to the products and services you offer, otherwise your efforts will be for naught. You can find more information about Spirit Lake, Iowa's business and economic environment here: Iowa Economic Data, Regulations & Limits On Business Insuranceīusiness-minded individuals who are thinking about starting up a new venture need to ensure that they choose a location for their operation that will allow them to achieve success.