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Several rankings indicate Idaho has maintained one of the fastest-growing economies since the start of the pandemic. Economic developers attribute it to the state’s fiscal responsibility, tech community, ability to support remote work and quality of life. The food manufacturing and processing sectors have continued to expand. TorchX opened a newhome office and expanded operations in Boise in August 2020, and in September, Ericsson agreed to acquire Boise-based Cradlepoint for $1.1 billion. Amazon is also nearing the completion of a new distribution center in Nampa that will employ 2,000 workers.
Tax Reimbursement Incentive: Offers a tax refund of up to 30% of its income for up to 15 years for creating at least 20 jobs in rural areas and 50 in urban areas.
Idaho Business Advantage: Offers enhanced incentives for businesses that invest at least $500,000 in new plant facilities that create at least 10 jobs paying $40,000annually.
Workforce Development Training Funds: Offers reimbursement for the training of new positions being created or retained.
Information Technology Equipment Exemption: Offers a sales tax exemption on server equipment and construction materials used in the construction of a new data facility.
Economic Development Districts of Idaho commerce.idaho.gov/communities/economic-development-districts-idaho
Southern Idaho Economic Development
Boise Valley Economic Partnership
Nampa Economic Development
Idaho Department of Commerce
Formed in 2020, Idaho Broadband is seeking to improve broadband access across the state. In its first year, the office awarded more than $38 million to fund 83 projects across Idaho, improving broadband infrastructure and service for Idaho households, businesses, libraries, healthcare clinics, hospital facilities, public safety organizations and local governments in147 communities across the state.
Three Fortune 500 companies headquartered in state: