Iowa sees record number of new business filings in 2021 fiscal year

DAVENPORT, Iowa (KWQC) - The State of Iowa saw a record number of new business filings during the 2021 fiscal year.

According to Secretary of State Paul Pate, 33,260 new businesses were registered with the Secretary of State’s Office between July 1, 2020, and June 30, 2021. This breaks the previous record of 24,720 set in 2019 and is a 35.8% increase from last year.

This is the fifth time in six years Iowa has set a record for new business filings, according to Pate’s office.

The state also set records for most new business filings in a single month twice in 2021 with 2,940 in January and 3,579 new business filings in March.

The previous record for most new business filings in one month was 2,512, in May 2019.

“Despite the pandemic, this data shows that Iowa had a substantial amount of economic activity over the last twelve months,” Secretary Pate said.

Davenport is experiencing similar growth with 32 new or expanded businesses downtown.

“That is a great number for us and it was a healthy mix. Office, retail, non-profits, bars, restaurants, you name it we saw it,” Alisha Espey, Director for Programs with the Downtown Davenport Partnership of the Quad Cities Chamber, said, “I think that it’s surprising, but it’s also a testament to how strong downtown Davenport is and it’s a good place to do business so we were building on years of success leading up to this.”

Copyright 2021 KWQC. All rights reserved.