Iowa competitiveness index unchanged

An annual index that measures the state's competitiveness in five key 'issue” areas is unchanged in 2016 from 2015, according to the Iowa Business Council.

The Iowa Competitiveness Index provides a report card for policymakers and economic development officials to measure Iowa's progress relative to other states. It was first released six years ago by the Iowa Business Council, with the goal of focusing Iowa on long-term strategies that promote economic growth and prosperity.

The competitiveness index measures economic growth, education and work force readiness, governance and fiscal matters, health and well-being, and demographics and diversity.

The only area to register improvement was demographics and diversity - Iowa's population grew by 2.5 percent between 2010 and 2015 - but the state still lags behind the national rate of 4 percent growth during that same period.

Recent Iowa Workforce Development and Iowa Business Council surveys projected there will be nearly 100,000 job openings at Iowa companies by 2021 due to employee retirements. Those vacancies, coupled with the fact that 28 percent of Iowa employers plan to expand in the next three years, will create a critical need for skilled workers, according to Mike Wells, IBC chairman for 2015-16 and president and CEO of Wells Enterprises in Le Mars.

The top industries in Iowa affected by upcoming retirements are manufacturing (23.2 percent), health care and social service (22.3 percent), wholesale and retail (11.7 percent), and educational services (8.2 percent).

The top occupations affected include production, management, office and administrative support, transportation and materials moving, and health care practitioner and technical.

Nearly 70 percent of all new and existing job opportunities will require postsecondary education and training beyond high school.

The Business Council is a nonpartisan, not-for-profit organization whose members are the top executives of the largest businesses in the state, the three Regent university presidents, and the Iowa Banking Association.