State Resources


Idaho Business Resources

Throughout its history Idaho has undergone a number of economic transitions. The area was originally used for fur trading, but by the mid 19th century the animals had been depleted. The discovery of gold in 1860 shifted the economy towards mining. Later the lumber industry took over dominance of the state economy, with the rise of agriculture following shortly thereafter. Today’s economy is driven by manufacturing, agriculture, mining, and services.

Idaho also contains a vast amount of farmland, where its main crop is the world famous Idaho potato. Idaho is by far the United States’ leading producer of potatoes. Cattle and dairy goods are other leading agricultural contributors to the state’s economy. Manufactured goods also make up a large portion of Idaho’s income, with the production of computer components, processed foods, and timber leading the way.

Business Data

Per Capita Real GDP$30,896 Rank: 41/50 (2006)
Population1,293,950 Rank: 39/50 (2000)
Per Capita Personal Income$29,952 Rank: 43/50 (2006)
Unemployment Rate2.80% Rank: 3/50 (2008)
Business Tax Climate IndexRank: 31/50 (2008)
Corporate Tax Rate7.6%
Individual Tax Rate 1.6% - 7.8%
Sales Tax Rate 6%

Business Tax Climate Index

Individual Income Tax Index Rank34
Sales Tax Index Rank34
Unemployment Insurance Tax Index Rank44
Property Tax Index Rank2
Business Tax Climate Index31
Corporate Tax Index Rank19

State Information

AbbreviationID
CapitalBoise
Nick NameGem State
State Web Sitehttp://www.idaho.gov
MottoLet it be perpetual

Top 5 Export Partner Countries

China, Canada, Singapore, Japan, Korea, South

Top 5 Export Merchandise

Machinery Manufacturing Sales Food Sales Fabricated Metal Products Manufacturing Primary Metals Manufacturing Machinery Manufacturing

Major Cities

Boise, Nampa, Pocatello

GDP

Total Gross Domestic Product (USD Millions) $51,149.00 (2007)
Per Capita Real GDP (USD)$29,843.00 Rank: 44 (2007)

Population Stats

Population 1,523,816 Rank: 39 (2008)

Age Distribution

Under 18 Population369,030
Under 18 Percent of Total Population29%
65 and older Population145,916
65 and older Percent of Total Population11%

Gender Distribution

Male Population50.1%
Female Population49.9%
Non-English Speaker (at home)85,297
Net International Immigration14,522
Birth Rate16.2%
Percent of People Under Poverty Level13.9%
Rank17

Expenditure

Per Capita State Spending$6,429
Rank43
Energy Expenditures per Person$3,455
Expenditures of State and Local Government Employee-Retirement Systems$401,097

Revenue

Personal Income$35,02743
Rank43
State Internal Revenue Collection$9,024,822
Rank40
Cash and Deposits by State Government$503,073
Per Capita State Tax Collection$2,175
Rank35

Education

High School Graduation Rate78.7%
Rank13
Percent of Population with a Bachelor's Degree16.3%
Rank31
Percent of Population with an Advanced Degree7.3%
Rank42

Largest Universities

Boise State University Brigham Young University Idaho State University
High School Graduation Rate78.7%

Logistics

Public Road Length (Mile)47,105
Gas Tax Rate (%)25%
Highway Planning and Construction (USD Thousands)242,347
Number of Public Airports119

Main Airports

BOI Boise Air Terminal/Gowen Field Boise

Ports

Weather


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State Business Links

Secretary of State

Small Business Administration

Idaho Small Business Administration
http://www.sba.gov/localresources/district/id/index.html
SBA helps small businesses obtain loans to start, operate and expand operations. The loans are actually made by financial institutions, primarily banks, with the backing of an SBA guaranty. In most cases, the borrower does not have to deal directly with SBA. The banker will make a decision on the loan and submit the necessary paperwork to SBA if its guaranty is deemed necessary. The district office helps several hundred business owners obtain loans each year in this manner.

Top 10 Business Links

Idaho Business Review
http://www.idahobusiness.net/
Idaho Business Review is a magazine providing coverage of business events in Idaho. The site also contains national business news articles.
Idaho Department of Commerce
http://commerce.idaho.gov/business/
This site contains a wealth of information about business in Idaho, including different training and assistance programs and site selectors, which is information about the workforce, tax structure, business costs, land & buildings, etc. There is also a section on why Idaho is a good place to do business, and economic information, including economic indicators, foreign trade, labor statistics, and more.
Idaho Small Business Development Center
http://www.idahosbdc.org/
Idaho SBDC offers many free or low-cost services to help entrepreneurs and small businesses reach their goals. There is a start-up guide for new businesses, as well as various training events and consulting opportunities. Research and development and environmental solutions help is also available.
Idaho Small Business Development Center
http://www.lcsc.edu/isbdc/index.htm
On this website, supported by Lewis-Clark State College, entrepreneurs can gain access to various business supports; financial, training, consulting, and research. There is also some information on business strategies and other resources available to aid business.
Idaho Small Business Solutions
http://www.idahobizhelp.org/
This website is a very useful resource. It offers many services to aid small businesses, for example a business wizard to help figure out regulatory requirements, a resource wizard to help businesses locate resources in their area, detailed information about legal structures, taxes, licenses, insurance, employer issues, forms, and agencies. There is also discussion of current hot topics in Idaho business.
Rocky Mountain Business
http://www.rockymountainbusiness.com/
This site provides a wealth of useful information on entrepreneurship, international business, and e-business. Self-assessments, FAQs, tools, business physical, mentoring, and other services are available.
U.S. Export Assistance Center of IdahoU.S. Export Assistance Center of Idaho
http://www.buyusa.gov/boise/
The Idaho branch of the Department of Commerce that specializes in helping small to medium sized companies develop and execute exporting strategies. Fees vary and are based on the service being provided. Exporting FAQs, webinars, Idaho International Trade Publication, and information for international visitors are provided free.

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