“When I took office as Idaho’s 33rd Governor in January, I was determined to follow through on my promise to reduce regulatory burdens on Idaho citizens and businesses. Six months later, we have cut or simplified 40 percent of Idaho regulations! Idaho’s work is setting an example for other states and the federal government to follow.” —Gov. Brad Little
Big Growth in the Gem State
In 2018, the Census Bureau ranked Idaho the fastest-growing state for the second year in a row. The population has grown by a total of 12% since 2010, putting it on track to reach two million residents by 2025. Economic momentum in the Boise area is attracting both residents and companies. Clearwater Analytics, Americor, Kount and Emsi have announced expansions here in recent years.
Idaho Tax Reimbursement Incentive: Offers a performance-based with a tax credit of up to 30% for up to 15 years on new state tax revenues generated by companies seeking to expand and add new jobs in the state.
Idaho Opportunity Fund: Offers funding at the discretion of the Idaho Commerce director for infrastructure improvements to attract new commercial or industrial facilities.
Idaho Business Advantage: Offers a wide package of incentives, including tax credits, sales tax rebates and property tax exemptions, for business that invest at least $50,000 and create at least 10 new jobs averaging $40,000 per year.
3% Investment Tax Credit: Offers a tax credit on all new personal property (machinery and equipment) used in the state.
Workforce Development Reimbursements: Offers up to $3,000 for the training of new full-time employees or for helping retrain employees facing layoff.
Idaho Economic Development Association: iedassociation.com
The Idaho Global Entrepreneurial Mission pro- gram supports commercialization partnerships and invests in the development of new businesses, research facilities, new products and high value jobs through Boise State University, Idaho State University, and the University of Idaho.
Emsi announced in July 2019 it will expand its presence in Moscow with a new 70,000-square-foot headquarters.
Taiwanese dairy product manufacturer Jetton Biochemistry Co. will locate a new facility in southwest Nampa and create 25 new jobs.
Clearwater Analytics announced in July 2018 a 26,000-square-foot expansion of its building in downtown Boise. The company now employs more than 650 people in the area.
Tech company Americor announced in September 2019 it plans to create 500 to 800 jobs.
The nation of Taiwan signed a deal with the state in September 2019 to buy more than $576 million of wheat over the next two years.
Two Fortune 500 companies headquartered in state, including:
Other big companies include:
“With an expanding tech presence and a flourishing community and culture, Boise was the ideal choice for Paylocity’s newest location.” —Mark Kinsey, Senior Vice President Operations, Paylocity
“With Strada’s backing and the crucial support of many people in Idaho, we are grateful and excited to build this signature building in Moscow.” —Andrew Crapuchettes, CEO, Emsi
“Our value is based on the supply chain of raw materials and the value of dairy products within that chain. Idaho’s quality and technology of milk production is consistently improving. This will be a very important asset for our products to compete internationally.” —Rover Lin, CEO, JBC
A survey of 300+ CEOs conducted in early May shows declining confidence in business conditions, even as economy reopens in many parts of the country and around the world. But there could be a silver lining.