So if we want to reduce the gyrations in our state's economy, diversification beyond agriculture must be a priority, in addition to diversifying the markets and uses for agricultural products. While biotech and genetics have the potential to create growth segments in agricultural research and development, we shouldn't create false hope that everyone in rural Iowa is going to benefit uniformly. Increasingly more of the benefits are retained by those corporations who do the research and development and license the use of the new products or services created. If you look at the economic bases of Mount Pleasant and Carroll, they have enjoyed more growth and stability compared to other rural Iowa communities because their economic base has been more diverse. Their leaders specifically focused their economic development efforts on economic diversification.
Quality of life requires investments by both the public sector and private sector.
Perhaps our biggest assets to attract investment are Iowa's reputation for educational quality and communities where people care about each other. We are in danger of losing our national reputation. It will happen if we continue to refuse to make investments necessary for quality education and quality of life. We also know a quarter of Iowa's schools have serious infrastructure problems. More college students are developing business plans for startup companies instead of buying plane tickets to their first job in Chicago.