Vision is what keeps Iowa at the forefront of economic growth and progress.
To this end, I recently named 18 top business leaders to lend their expertise and vision to Iowa?s economic development efforts.
The Iowa Partnership for Economic Progress board is set to meet for the first time this month as Iowa reshapes its approach to business growth. The board is charged with developing a comprehensive economic development strategy for the state.
These private sector business leaders will help the state better understand opportunities for job creation as we work toward my goal of creating 200,000 Iowa jobs and raising family incomes by 25 percent.
Membership of the partnership board spans Iowa industry and includes executives in the financial services, advanced manufacturing and technology sectors, among others. Lt. Gov. Kim Reynolds and I will serve as co-chairs of the board, and Iowa Economic Development Authority Director Debi Durham will serve as an ex-officio, non-voting member, as will other state economic development officials.
Linking the public and private sectors will allow us to tap the vast knowledge of Iowa?s business leaders in attracting, expanding and retaining high-paying jobs in the state. I think you would agree, Iowans are lucky to have some of the smartest minds in business willing to lend their time and business savvy to fueling Iowa?s economic growth.
Iowa has made gains in important industries. The biofuels, wind energy, information technology, and advanced manufacturing sectors have made advancements that led to new, high-paying jobs. We need to ensure that Iowa?s home-grown businesses and companies locating here continue to have a chance to thrive.
Encouraging start-ups is also an important part of the equation. Entrepreneurs who will create the jobs of the future need to find a favorable environment in Iowa. Support systems have been put in place to help launch start-up businesses here, and we will continue to look for ways to smooth the pathway for emerging companies by linking them with capital, investors and mentors to help them create the high-paying jobs of tomorrow.
As the nation emerges from the economic downturn, Iowa is one of a handful of states revamping its economic development programs to take advantage of the rebound. We are constantly fine-tuning our efforts to drive growth, thriving on innovation. The new partnership board and the restructured Iowa Economic Development Authority will make us even more nimble in our efforts to bring jobs to Iowa.
It is in that mindset that Iowa has gained a national reputation as a great place to do business and earn a living. CNBC recently credited Iowa with having the lowest cost of doing business in the nation. Iowa placed ninth overall in its 2011 ?America?s Top States For Business? ranking. Our economy placed fifth overall, and we scored in the top 20 in education, quality of life, business friendliness and cost of living.
These high rankings come as no surprise to the Iowans contributing daily to the economic health of the state. We have long understood that innovation and forward thinking breed progress. To continue to capitalize on our opportunities for business growth, we need to be cognizant of current economic trends and future possibilities. Members of the partnership board will provide guidance and a real-time pulse of changing market forces.
Innovation and a commitment to growth are the hallmarks of Iowa?s economic progress. By creating a partnership between the public and private sectors, Iowa?s leaders will transform their vision of job growth into reality.
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