“In today’s global economy, it is important to have the resources and technology needed to have a competitive advantage. Quality high-speed Internet service is not only an integral component in any business but it also spurs job creation and innovation,” said Iowa Governor Terry E. Branstad.

The new survey is the first of its kind and takes an in-depth look at all sectors of the state’s economy. A new interactive application is now available on theConnect Iowa websitethat allows you to see the impact on specific sectors of the state’s economy, from healthcare and manufacturing, to tourism and education.

“Access to broadband Internet is key to economic development,” said Iowa Department of Economic Development Director Debi Durham. “Providing existing businesses and new investment to the state with a robust Internet infrastructure will be critical to their success and the overall economic climate of Iowa.”

Connect Iowa is a statewide public-private partnership working on broadband expansion. The newBusiness Technology Assessmentreveals how technology is being used by businesses and where gaps still remain across the state. The assessment is designed to measure technology adoption and the awareness of available broadband service among state businesses, and establish benchmarks for these metrics.

“In the digital economy, businesses must embrace broadband, and other transformative technologies like it, in order to survive,” said Brian Mefford, CEO of Connected Nation, Connect Iowa’s parent organization. “The Internet is driving products and services to the marketplace in an environment where creativity and innovation are both reinforced and rewarded.”

Findings from this survey illustrate a significant correlation between high-speed Internet adoption and a business’s bottom line. Specific examples include:

• Businesses with high-speed Internet connections report having median annual revenues $300,000 more than businesses without broadband.

• More than one-half (52%) of Iowa businesses (approximately 43,000) have a website. Median annual revenues among businesses that use broadband and have a website are double the state average.

• Broadband can enable job creation and enhance quality of life. Eighteen percent of state businesses let employees telework.

Other key highlights:

• Nearly three-fourths of Iowa businesses (72%, or approximately 60,000) subscribe to broadband.

• Twelve percent of broadband-connected businesses say they need more bandwidth.

• The median monthly cost that Iowa businesses pay for broadband is $62.

• The average download speed among broadband-connected Iowa businesses is 7.2 Mbps (though, only 40% of broadband-connected businesses knew their advertised download speed).