CEO Guide to Site Selection

#16

Idaho

CEO Rank on Best & Worst States for Business

GAINING MOMENTUM AND FISCAL RESPONSIBILITY IN THE GEM STATE

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.

“Years of fiscal conservatism, swift action during the pandemic, few Covid restrictions, responsible allocation of federal relief dollars and our relentless focus on cutting red tape are the reasons Idaho’s economy is catapulting ahead of other states right now.”
Brad Little
Governor

TAXES

0 %

top corporate income tax

# 0

on the Tax Foundation’s State Business Tax Climate Index ranking

EDUCATION

0 %

of students graduated high school in 2019

0 %

of adults age 25 and older have a bachelor’s degree or higher

UNEMPLOYMENT RATE

0 %

RIGHT TO WORK STATE

Yes

QUALITY OF LIFE

# 0

POPULATION GROWTH

0 %

increase between 2010 and 2020

KEY INCENTIVES

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.

EDCs

Economic Development Districts of Idaho commerce.idaho.gov/communities/economic-development-districts-idaho

Southern Idaho Economic Development
southernidaho.org

Boise Valley Economic Partnership
bvep.org

Nampa Economic Development
cityofnampa.us/858/Economic-Development

Idaho Department of Commerce
commerce.idaho.gov

HIGHLIGHTED PROGRAM OR INITIATIVE

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.

BIG DEALS

  • PetIQ announced in July 2020 it would invest $22 mil- lion to establish its headquarters in Eagle.
  • Azek announced in March 2021 a $107 million manufacturing facility for deck products in Boise.
  • Lamb Weston announced in July 2021 a $415 million expansion in American Falls.
  • True West Beef announced in July 2021 a $195 million processing plant in Boise.

BIG COMPANIES

Three Fortune 500 companies headquartered in state:

  • Albertson’s (Fortune 500 headquarters)
  • Boise Cascade (Fortune 500 headquarters)
  • Emsi
  • Jayco
  • Lactalis
  • Micron Technology (Fortune 500 headquarters)
  • PetIQ
  • Western Aircraft