If you’re seeking out an expanding business opportunity in Iowa, you’ll want to look into the prosperous city of Altoona. Why? Well, as a leader in Iowa economic development—and with a booming local economy and business-friendly climate—Altoona is a hotbed for growth.
But what specific business opportunities exist here? Why would it be beneficial to relocate a business to Altoona, Iowa—or start a new one here for that matter?
The simple answer is the following. Altoona has an abundance of space—office space, retail space, industrial space, and other “physical space” that’s available in the form of property. But it also has “space” for economic growth in a variety of industries, from manufacturing and logistics to IT and retail, and everything in between.
INDUSTRIES IN ALTOONA, IOWA WITH LOTS OF POTENTIAL
MANUFACTURING/WAREHOUSING (INDUSTRIAL)
Manufacturing and warehousing are strong components of Altoona’s valuable industrial sector.
Whether you’re seeking an industrial real estate opportunity in Altoona as an investor—or if you’re an industrial business owner looking for a building to house your operations—our city has a lot to offer.
Here are some key characteristics of Altoona that make it such an ideal location for a warehouse or other industrial space:
- Nearby Customer Base:
- Altoona is only about 20 minutes from Des Moines, Iowa’s largest city. The City of Des Moines has a population of roughly 215,000 people, and the greater metropolitan area houses just shy of 700,000.
- Close Proximity to Transportation:
- The City of Altoona is located right off I-80 and I-35, two major cross-country interstates. It also features convenient railroad access and is only 25 minutes away from the Des Moines International Airport.
- Building Availability and Expandability:
- The City of Altoona has plenty of available properties for both development and leasing purposes, supported by strong local leadership and tax incentives.
- Strong Workforce:
- Altoona is home to an educated, skilled, and large workforce. Get more information about it here.
TRANSPORTATION & LOGISTICS
When it’s your job to ship goods to and from different destinations to maintain a thriving supply chain, you’ll want to be in a place like Altoona, where there’s near-instantaneous access to major transportation routes.
Here’s some more detailed information from the Altoona Chamber of Commerce that highlights the Altoona area’s major highways, airports, and rails that are heavily utilized by logistics businesses.
- Major Highways:
- Adjacent to I-80, which runs all the way from San Francisco, CA to Teaneck, NJ.
- Only 2 miles from I-35, which travels from Duluth, MN to Laredo, TX.
- U.S. Highway 65 and the Highway 5 Bypass also link I-35 and I-80 on the west corporate limits of Altoona.
- Nearby Airports:
- Only 20 miles from the Des Moines International Airport, only 10 miles away from the Ankeny Regional Airport.
- Major Railroad:
- The Iowa Interstate Railroad runs through Altoona and connects to many of the city’s industrial and logistics areas.
RETAIL
There are plenty of retail opportunities in Altoona, Iowa, whether you’re looking to invest in commercial real estate, start a new retail business, or find a new location for your current one.
First off, the retail industry itself is thriving in Altoona. In 2021, total taxable retail sales in Altoona increased nearly 9%, totaling over $677 million.
This opportunity is further supported by Altoona’s growing population, which has expanded 30% since 2015, featuring an additional 4 million visitors per year.
And it’s worth mentioning again that there are plenty of available properties in Altoona, with many that are especially beneficial for retail purposes. Learn more here.
It’s no secret that our city is a retail haven, either—Altoona is home to some fantastic retail destinations like the Outlets of Des Moines, Bass Pro Shops, and others that attract lots of eager shoppers.
OFFICE SPACES & IT
Altoona has plenty of opportunities in the office and IT industries that make the city a great spot to consider during a potential Iowa relocation, or during a new business venture.
Data centers stand out as especially “ripe” opportunities in this category. Why? Because they require abundant available land, clean & affordable energy, and quick access to network providers & skilled labor in order to succeed—all of which can be found in Altoona.
But these characteristics don’t just make for good data centers, they make for good office buildings as well.
Altoona is becoming increasingly known for these types of operations, with companies like Meta growing their footprint here.
COME TO ALTOONA TO DISCOVER NEW OPPORTUNITIES
Planning a business relocation to Iowa? Looking to start a new business and need to find a great spot? One of the leaders in Iowa economic development is the City of Altoona, a community just minutes east of Des Moines.
We’re equipped with the leaders, economic tools, utilities, and conveniently located infrastructure needed to foster an environment for business success. Plus, Altoona is a great place to live, offering a high quality of life and an exciting dining and retail scene.
Over the last two decades, Altoona development has accelerated tremendously, and there are currently numerous opportunities for investors looking to purchase properties or developers looking to build.
Search our commercial property database or request additional information to learn more.