Iowa breaking new business records during 2021 fiscal year

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SIOUX CITY, Iowa (KCAU) – The state of Iowa has seen record growth in new business. Between July 1, 2020, and June 30 of this year, Iowa had 33,260 new businesses register with the Secretary of State’s office. That’s nearly a 36% increase from last year.

“When you see more businesses, the tide rises. I mean you see a boutique. It’s going to do ten times better when there are four other boutiques around them,” said Executive Director of Downtown Partners Ragen Cote.

Joe Rarrat is the owner of My Jeweler. He says he’s been in the industry for a long time and decided it was time to open his own business.

“I’ve been doing it for over 30 years, but I was working for someone else and now we have our own store. So, it’s quite a bit difference than when you have the key versus just walking in the door,” said Rarrat.

During the seven months his business has been opened, there were some obstacles for him to overcome.

“Well, in January, I was unemployed. A few really nice people in Sioux City got together with me and said we got to do this. So, with a couple of good pushes, we started planning. It only took about three months to get going thanks to a lot of help from some businesses in town,” said Rarrat.

A record number of Iowa businesses started in the past year. This is a sign of overall growth in the Sioux City area.

“Over the past year, in COVID times, we saw 13 new businesses in downtown Sioux City, and even over the last three months, we’ve had nine more join us,” said Cote.

Rarrat credits his business’s success to the people of Siouxland.

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“That’s just how great Sioux City has been to us and what’s made what would’ve been an unbelievably hard start, incredibly good. I mean, it’s amazing. It’s a testament to all these people here,” said Rarrat.

Iowans also set a new record for the most new business filings in a single month. That was back in March of this year with 3,579.

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