Study ranks states on how much $100 will buy.
Small business owners who feel their dollar goes further in Iowa than elsewhere now have confirmation of that.
An analysis from the Tax Foundation, based on statistics from the Bureau of Economic Analysis, says that, relative to other states, $100 in Iowa actually buys nearly $111 worth of goods. That’s because prices for goods are cheaper here than in places like New York and California.
Among neighboring states, Iowa led Illinois ($99.01), Minnesota ($102.46), Wisconsin ($107.64) and Nebraska ($110.50) but trailed Missouri ($112.11) and South Dakota ($114.16).
Leading the country was Mississippi, where $100 would buy about $115 worth of goods, while the District of Columbia came in last, at nearly $85.
The study points out that, in general, high incomes and high prices for goods go together, but states like North Dakota manage to have high incomes without high prices.
To read the BEA’s full news release, click here.
For the Tax Foundation’s nationwide map and overall analysis, click here.
