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State Guide29th StateEst. 1846
Iowa IA
"The Hawkeye State"
America's food factory, where 23 million hogs outnumber people seven to one, where corn and soybean fields feed the nation and the world, and where the Iowa caucuses have launched and ended more presidential campaigns than any single event in American politics. Iowa is also the nation's wind energy leader, quietly proving that the heartland can power the future.
Iowa state finances at a glance
State Debt - FY2024
$8.1 billion
Total state government debt outstanding at the close of fiscal 2024, including long-term bonds and short-term borrowing across state agencies and public universities.
Tax Revenue - FY2024
$12.7 billion
Total Iowa state tax collections in fiscal 2024, led by the general sales tax ($4.6B) and the individual income tax ($3.8B).
Borrowing
Iowa's constitution limits state debt to $250,000, so borrowing is done through revenue bonds and lease agreements issued by state authorities rather than general obligation bonds. These are sold to investors in the municipal market and repaid from dedicated revenues or appropriations. The state reported about $275 million in interest on its debt in fiscal 2024.
Source: U.S. Census Bureau, 2024 Annual Survey of State Government Finances.
29th
State admitted to the Union
3.2M
People, 23M hogs
60%+
Electricity from wind
#1
Ethanol-producing state