The Grandstand was originally built in 1909, and in 1927, more seats were added. Standing majestically just inside the main gate, the Grandstand is one of the most recognizable structures on the Fairgrounds. After several decades and millions of spectators, the building was in dire need of renovations. Concrete had begun to crumble, and the mortar between the bricks was chipping away. In 1997, more than $9 million was spent to replace old seats, windows, doors, concrete flooring, brickwork, elevators and restrooms. In addition, handicap access and electrical wiring improvements were made.

The Iowa State Fair Grandstand received another renovation in 2018 thanks to a generous $1 million donation from Kyle and Sharon Krause, and Kum & Go.  The historic Grandstand structure remained intact, while adding 4,000 more floor seats, new restrooms facilities, and the Kruase Group Stage. The new stage is much larger and safer with updated sound, lights and video screens. The Blue Ribbon Foundation also received a 2018 Prairie Meadow $600,000 Legacy Grant to support the expanded seating in the Grandstand now called Prairie Meadows Plaza.