What do you know about Iowa’s biggest companies? If you had to guess, which Iowa company do you think is the biggest? Casey’s, Fareway, Hy-Vee – those names are in the top ten, but none of them are the biggest company in the state. No, that honor goes to a company that was founded in Iowa way back in the 1800s.
The Des Moines, Iowa skyline. It's a beautiful thing.
And today, we'd like to introduce you to one of its illustrious skyscrapers. Say hello to Principal Financial Group's Corporate One building in downtown Des Moines.
Principal Financial is a global financial investment management and insurance company, and it's also the biggest company in the Hawkeye State, with a net worth greater than 16.2 billion dollars in 2021.
It employs over 17,000 people, including investing in the future by hiring hundreds of interns each year and equipping them with valuable training, experience, and connections.
The company was founded in Chariton, Iowa in July of 1879 by banker Edward Temple and his colleagues under the name Bankers Life Association as a life insurance company.
The company quickly expanded, reaching $29 million in life insurance memberships by 1889 - this precipitated a move to Des Moines. The company operated frugally and efficiently, surviving the Great Depression and continuing to expand. Its name changed to Principal Financial Group in 1985. In 2001, it became a publicly traded corporation.
Principal Financial isn't just a skyscraper on the Des Moines skyline, though. They are an active local presence, always giving back to the community that has grown it into what it is today.
And now you know all about Iowa’s biggest companies, a company that is also one of the state’s oldest. Learn more about Principal Financial on their website. Have you ever utilized the services of Principal Financial Group? For more on big Iowa businesses, read up on that Casey’s General Store we mentioned earlier.
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