As the Iowa Corn Indy 250 race winner, Franchitti was presented an Automatic Gran Data timepiece from Ritmo Mundo, the official timepiece of the IndyCar Series. Ritmo Mundo presents a timepiece to the winner of each IndyCar Series event in 2007 and will present a $100,000 timepiece to the IndyCar Series champion.
Scott Dixon collected the AAMCO Transmissions Pole Award and its $10,000 prize, while Vitor Meira won the Firestone Performance Award and its $10,000 prize for leading Lap 142 of the race. Buddy Rice claimed the Lincoln Electric Hard Charger Award and its $2,000 prize for being the race leader who started furthest back.
As part of his victory in the Iowa 100, Alex Lloyd was presented with a Forum timepiece from Ritmo Mundo, the official timepiece of the Indy Pro Series. Ritmo Mundo presents a timepiece to the winner of each Indy Pro Series event in 2007 and a $25,000 timepiece to the Indy Pro Series champion.
Wade Cunningham collected the SWE Pole Award and its $1,000 prize.

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