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Panel projects more revenue growth for Iowa

Thursday, December 13, 2012

DES MOINES, Iowa (AP) -- An Iowa business panel says the state's revenue will grow by 3.3 percent in the current fiscal year and by another 3.4 percent after that.

The Des Moines Register reports the estimates out Wednesday are a step up from earlier forecasts by the same three-person panel.

The Revenue Estimating Conference now says net state revenues are projected at more than $6.5 billion for the fiscal year that began in July and ends next June. That's almost $35 million more than the panel projected in October for the same period. Revenue for the fiscal year beginning after that is now pegged at more than $6.7 billion.

The newspaper reports the panel also warns about looming economic uncertainty, including the outcome of the so-called fiscal cliff and consumer confidence.

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