First, I'm glad that you are here and want to have more freedom.
I doubt you'll get a lot of people interested in moving to Iowa for freedom. Maybe the people from Illinois, Wisconsin, and Minnesota who don't want to move to another part of the country but still want more freedom.
It seems to be an ok state on freedom, but is only ranked #16 in overall freedom. See Freedom in the 50 states, a study of state policies and laws from 2006. Jason Sorens, who came up with the concept of the FSP, is one of the authors. I recommend you download the PDF file on this page.http://mercatus.org/publication/freedom-50-states-index-personal-and-economic-freedom
If we had enough dedicated libertarians to do a free state project in every state, we wouldn't have needed the FSP.
Generally the purpose of local groups on this forum is to promote the movement to NH in your local area, and to meet the other people who are moving before you all move, not to start your own FSP. Oh my, I sound like a moderator!
I'm not, though.
Seriously, though, if you decide to do it I wish you the best of luck. Personally, I will be moving to NH next year. If my family all stay in the west I might give Wyoming a try in a few years - they have a rival group and came in #2 in the vote of which state to move to in 2003.