Iowa Governor Signs Bill Creating Two New Economic Development Entities

Iowa Gov. Terry Branstad signed Iowa House File 590 into law, establishing a new economic development public-private partnership. The Iowa Partnership for Economic Progress (IPEP) will be comprised of two separate entities — the Iowa Economic Development Authority and the Iowa Innovation Corporation. IPEP replaces the embattled Iowa Department of Economic Development. The passage of the bill achieves one of Gov. Brandstad's top campaign priorities to shift the state's economic development efforts away from government and more toward the private sector. The Iowa Business Council (IBC), a nonprofit organization, also released a new report that looks at the Iowa competitive advantage relative to other states over a 10-year period. Researchers found that Iowa has increased only slightly relative competitive advantage since 2001. Read more...