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Iowa ranked No. 4 nationally in capital investment

George C. Ford

The Gazette

August 23, 2006

[Note: This material is copyright by The Gazette, and is reproduced here as a matter of "fair use" for non-commercial, educational purposes only. Any other use may require the prior approval of The Gazette.]

  Iowa is ranked fourth in the nation in terms of capital investment in 2005, according to a report by the accounting firm of Ernst & Young.

  The report, ‘‘U.S. Investment Monitor 2006,’’ says a significant amount of the capital investment in Iowa last year involved energy development. Investments in ethanol and alternative energy accounted for 61 percent of total capital investment in Iowa.

  The report, prepared by the Quantitative Economics and Statistics practice and the state and local tax group of Ernst & Young, analyzed 3000 major business investment projects in the United States announced is 2005. The projects totaled $67 billion in domestic and foreign capital investment and created more than 370,000 jobs.

  The top five states were Alabama, Mississippi, Rhode Island, Iowa and Arizona.

  Tom Neubig, director of the Quantitative Economics and Statistics practice, said Midwestern and southern states saw the greatest expansion of major investment projects last year.

  ‘‘Several major coal and agriculture- based energy projects stimulated new investments in the Midwest,’’ Neubig said.

  In Iowa, the state witnessed investments in ethanol plants and wind generation projects. Cedar Rapids was selected as the site of Clipper Windpower’s wind turbine assembly plant.

  Alliant Energy and Mid American Energy, the state’s two largest utilities, announced investments in wind generated energy.

  Manufacturing facilities also accounted for a significant amount of capital investment in 2005.

  A $6.5 million capital investment provided Rockwell Collins in Cedar Rapids with a new facility at 1100 Cimmie Ave. NE.

  The employees housed in the building design and construct prototypes of flight electronics for the new Boeing 7E7 Airliner.