There are many incentives to opening a business in the Siouxland area,
including an excellent transportation system centered around Interstate 29, several full-service industrial parks, a skilled available workforce and utility infrastructure in place with excess capacity.
Another bonus for industry and business is the close proximity of business and industrial support services, including architects, contractors, and consulting engineers.
A Siouxland location offers significant benefits to companies in the following areas:
- Alternative Energy
- Food Processing/Value Added Agriculture
- Advanced Manufacturing
- Data Processing, Call Centers, Insurance Services
- Commercial Aviation
- Availability of agricultural resources – The Heartland of the U.S. is known for its supply of agricultural resources. Within 200 miles of Siouxland there is an abundant supply of hogs, cattle, poultry, eggs, corn, and soybeans. Leading processors of agricultural resources in the region are Tyson Fresh Meats, Cargill, Ag Processing, ADM, Seaboard Triumph Foods, ConAgra, empirical foods, and Wells’ Dairy.
- Proximity to several universities and colleges – The Sioux City Metro is located within a half day’s drive of nine major universities that offer undergraduate, graduate, and professional programs in biotechnology and/or medical technology: Iowa State University; University of Iowa, University of Nebraska - Lincoln; University of Nebraska – Omaha; South Dakota State University; University of South Dakota; University of Minnesota, Creighton University; and Drake University. In Sioux City, Morningside College and Briar Cliff University offer four-year degree programs, and Western Iowa Tech Community College, Northeast Community College and St. Luke’s College of Nursing offer two-year degree programs and technical training programs.
- Low operating costs – The average manufacturing wage in Siouxland is 16% below the national average. Iowa, Nebraska, and South Dakota are among the states with the highest high school graduation rates, and all three states rank high on the ACT and SAT college entrance examinations. As a result of the excellent educational systems, workers in these three states are ranked among the most productive in the nation. In addition, all three states have Right-to-Work laws.
Siouxland electric power rates are well below the U.S. average for industrial electric power. Transportation costs are relatively low because of the presence of four competing modes of transportation in the region: truck, rail, air, and barge.
- Excellent transportation systems – With its central North American location, Siouxland provides companies with a variety of transportation systems, which link the community to Midwest, U.S., and world destinations. Siouxland cities have excellent access to highway, rail, and barge transportation systems.
- Affordable tax structures – Effective corporate income tax rates in Siouxland are among the lowest in the nation. South Dakota does not have a corporate income tax. Iowa and Nebraska have a single-factor corporate income tax that is based only upon the profits from the sales of the corporation in their state. Many other states have a corporate income tax based upon weighting of three factors: sales, employment, and property. The three states do not have inventory or personal property taxes.
- Available buildings & sites – The Siouxland region offers a variety of industrial parks and large building sites. In addition to land in industrial parks, there are several building sites of 25-600 acres available in the region.
- Attractive economic incentives – For qualified projects, financial incentives to attract companies to Siouxland and to assist in the expansion of Siouxland corporations are available from the states of Iowa, Nebraska, and South Dakota, as well as some of the local communities. The Siouxland Initiative, a regional economic development program, also provides incentives for qualified projects. The types of incentives available in Siouxland include grants, forgivable loans, low-interest loans, property tax abatements, tax increment financing, state income tax credits and refunds, discounts on land purchases, and industrial revenue bonds.
Businesses have prospered in the Siouxland area and more are opening their doors each year. A great location, excellent support services, and a dedicated work ethic contribute to a bright economic future for Siouxland!
For more information contact:
Christopher J. McGowan, President
The Siouxland Initiative
712-255-7903 x 215
Barbara Sloniker, Executive Vice President
The Siouxland Initiative
712-255-7903 x 216