Des Moines, a Financial Services Hub? You Bet
Des Moines was voted the No.5 Best Place for Business and Careers by Forbes (2017). This goes to show you how Des Moines has grown to become one of the most influential financial services hub in the region.
Besides that Des Moines is one of the fastest growing metros in the region which also goes to show how successful Des Moines is as a business and financial services hub. Without growth in business there can never be growth in population and development of a region. What makes Des Moines suitable as a financial services hub?
What makes Des Moines a Global Financial Services Hub?
Business easily thrives in Des Moines – one of the factors that makes Des Moines a financial services hub is the fact that it is easy for business to thrive here. Why? Because the cost of doing business in Des Moines is 17% lower than the national average. This means that starting out a business in Des Moines is more affordable than in other regions.
With a lower cost of running business then there is a bigger opportunity for existing and new business alike to grow and expand. Furthermore the area has a strong business atmosphere with so many thriving business providing mentorship to the upcoming ones. Office rent in Des Moines is 29% lower than the national average making it an attractive region for startups and thriving businesses alike.
Leadership by other big businesses – one of the biggest thriving business headquartered in Des Moines is Wells Fargo. The company has a rich history and provides a lot of the needed community leadership and investments.
Some of the Wells Fargo community investments in the Des Moines area that have helped propel the community include; the financial center, the Wells Fargo Arena, the Principal Charity Classic and more recently Wells Fargo opened the Wells Fargo History Museum. In 2016 only, Wells Fargo and its team members contributed $9.1 million to non-profits in Iowa. These contributions go into propelling the Des Moines area into becoming a financial services hub. Learn more about what makes Des Moines, IA, the biggest small town in America here.
The other notable business in the Des Moines area are insurance companies. Des Moines is home to the headquarters 81 insurance companies and other financial service providers including; EMC insurance companies, Federal Home Loan Bank, Holmes Murphy & Associates Inc., Merchants Bonding Company, Voya financial, Principal, American Enterprise Group Inc., Fidelity &Guaranty Life, Symetra Life, Accordia Life, Continental Western Group, Mercer and Athene amongst many others.
With all these insurance and financial companies around it therefore means that the job market is thriving in Des Moines. To meet the job market there are institutions of higher learning including colleges and universities that produce highly talented and skilled graduates to meet the job demands.
Also due to the high number of insurance companies in the region, Des Moines is home to the Global Insurance Symposium which puts Des Moines on the global map as a financial services hub.
When such huge companies and institutions as these ones thrive then the community thrives as a whole. Find out more about Paramount Kitchen & Bath in Des Moines.
