Intelligent economic development (IED) data collection is cumbersome, and manual sampling is time-consuming and labor-intensive. Therefore, this paper uses the Internet of Things (IoT) technology for data collection. In view of the low accuracy and poor stability of IoT equipment, this paper introduces an IoT-based data collection system, together with advanced data processing and analysis algorithms which the economic development data has been collected and analyzed. The data collection system sends collecting sub-commands to the corresponding collectable sensing nodes to collect data. When the returned data is far away from the expected value, the system optimizes data processing through the scope of data cleaning and adjustment. Then, the cleanup and related data are saved in the corresponding data storage node. According to the experimental test results, the method used in this paper takes up to 5 days and the shortest 1 day to complete the work of intelligent economic development data collection. In terms of collection time, accuracy and stability, the method of collecting and analyzing IED data based on Internet of Things has made some progress.