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MIGHT THERE POSSIBLY BE ANOTHER FACTOR?
June 26, 2008
Not-a-blogger Brian Gongol posts:
Iowa Why Sioux City and Sioux Falls have turned out so differently The two towns, about an hour apart, started off in roughly the same condition in the 1960s. But Sioux Falls has grown well while Sioux City has had a much rougher time, economically. The biggest difference is that Sioux City depends heavily upon manufacturing, while Sioux Falls has moved away from heavy industry. That should be a lesson for those who obsess over manufacturing jobs as a political issue. Manufacturing still matters, but it can't be the only thing happening in a city's economy.
That's fine as far as it goes, but why is it that those financial industry jobs have been drawn to the South Dakota side of the river, rather than to the Iowa side?
Anyone?
Iowa's top corporation income tax rate is 12%. The rate in South Dakota is zero.
Iowa's top individual income tax rate is 8.98%. The top rate in South Dakota is zero.
But other than that, I have no idea.
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