The rating on Sioux City, Iowa's bonds reflects: * A regional economy with strong links to the agricultural sector, * A sound financial position, and * Moderate debt. Sioux City is a regional trade center for west-central Iowa and portions of South Dakota and Nebraska. The agricultural sector is centered predominantly in meat processing, with IBP Inc. (headquarters and processing, 4,500 employees) and Morrell Inc. (1,350) leading area employers. Manufacturing and services also contribute to the economy, with Gateway 2000 (headquarters and computer manufacturing, 4,000), and St. Lukes Medical and Marian Health Centers together employing over 1,000. Steady growth in employment and labor force keeps the unemployment rate below national levels, and was a low 2.9% in 1998. Taxable valuation
