Rising farmland prices help strengthen Iowaâs rural economy
BY MICHAEL CRUMB, Senior Staff Writer Tuesday, December 22, 2020 3:05 PM Iowa’s rural economy grew in December behind strengthening farmland values, according to a survey of Main Street bankers released last week.
According to Creighton University’s Rural Main Street Index, Iowa’s index rose to 50.2 in December, up from 47.4 in November.
The overall index for the 10-state region crept above neutral growth in December, to 51.6, a nearly five-point increase from November’s 46.8.
The index is a snapshot of the economy of rural and agriculturally dependent communities with an average population of 1,300 people. Each month, community bank presidents and CEOs are asked about the current economic conditions in their towns, and to give a projected outlook for the next six months.