Idaho continually makes headlines as one of the fastest-growing states in the nation. Idaho earns top rankings with a strong economy, fiscally responsible government, low regulation and strong economic momentum. Although the headlines are great, the state's focus remains on Idaho, promoting smart, stable and responsible growth. While other states use flashy gimmicks to attract growth, Idaho's focus is, and always will be, making Idaho a place where our residents' children and grandchildren choose to stay and where Idaho businesses, communities and residents can flourish.
Focusing on the Issues that Matter
As Idaho Governor Brad Little enters his seventh year in office, he continues to build upon the commonsense values and initiatives that have become hallmarks of his administration – starting with the issues that matter most to Idaho businesses and residents.
Idaho’s conservative approach to governing encourages economic prosperity while reining in unnecessary government spending. Idaho manages its budget effectively and responsibly and embraces “kitchen table economics,” just like everyday Idahoans.
Idaho is on pace to turn back $4.6 billion in tax cuts since 2019 – more than any other state per capita. The state’s historic tax relief efforts include a new, lower flat income tax for corporate and top personal income tax rates, lower payroll taxes for Idaho businesses and an enhanced grocery tax credit. These cuts represent continued efforts to provide crucial tax relief for Idaho citizens and businesses.
Idaho will build upon this momentum as part of Governor Little’s proposed KEEPING PROMISES plan by putting at least another $100 million back in Idahoans’ wallets. Additionally, Idahoans have received hundreds of millions in property tax relief over the past few years.
While providing this tax relief, Idaho routinely ends its fiscal years with strong performance and budget surpluses.
Another important initiative for the state has been cutting unnecessary red tape and regulations. In Governor Little’s first year in office alone, Idaho achieved the title of the least regulated state in the country.
Since 2019, Idaho has cut or simplified 95 percent of regulations, transforming its administrative code. State leaders have taken steps to ensure Idaho regulations remain streamlined, user-friendly and easy to understand.
Idaho’s success demonstrates that by promoting commonsense initiatives, reducing regulatory friction and rolling up sleeves to accomplish a common goal, good jobs will follow.
Idaho state officials frequently receive comments from businesses that Idaho’s policies, economy and overall quality of life make the state stand out as they consider location decisions. Efforts to limit regulation and practice fiscal responsibility set Idaho apart. Idaho continues to see strong economic prosperity and increased job growth within the state.
Responsible and Competitive Incentives
Additionally, Idaho incentives are responsible and competitive. Idaho’s incentives are performance-based, meaning that incentives are earned based on merit. This ensures the state's residents and communities benefit alongside companies.
The economic development agency for the state, the Idaho Department of Commerce, has placed an additional focus on industries such as semiconductors, food processing, precision agriculture, energy, outdoor recreation, aerospace and cybersecurity.
Nuclear and clean energy industries have always been important to the state but have become particularly important areas of focus in recent years. Idaho works closely with energy partners such as the Idaho National Laboratory, one of 17 national labs in the U.S., and is well poised to work with the private sector and the new federal administration to promote and support nuclear and clean energy.
Idaho has received numerous notable business relocations and expansions over the past few years within these growing industries.
Idaho’s Large Economic Wins
In 2022, Idaho-based semiconductor manufacturer Micron Technology announced the largest single private investment in state history. Micron announced that Boise would be the new home of the first new memory fab in the U.S. for over 20 years.
The company plans to invest approximately $15 billion through the end of the decade to construct a new fab for leading-edge memory manufacturing. This investment will create over 17,000 jobs, with approximately 2,000 direct jobs.
The state looks forward to assisting Micron to ensure the success of this important expansion.
Fortifying the semiconductor supply chain, nanotechnology engineering company Exyte and semiconductor chemical producer Diversified Fluid Systems both announced projects this past year. Collectively, both projects will create nearly 200 new jobs and invest over $34 million in capital expenditure.
In one of Idaho’s largest and oldest industries, food processing companies Darigold and Dot Foods also announced new projects this year. Darigold will expand operations in the Treasure Valley, creating nearly 200 new jobs. Dot Foods will locate in Burley, Idaho, creating 84 new jobs with a capital expenditure of $25 million. Idaho Milk Products also recently broke ground on its new ice cream facility, and the project will create $190 million in capital expenditures and 113 new jobs.
Additional announcements this past year include POWER Engineers’ new $29 million Merdian, Idaho expansion project, creating over 1,000 new jobs. The Stow Company also unveiled its new facility in Nampa, Idaho, creating 139 new jobs and investing $115 million in capital.
These announcements only scratch the surface of the recent growth Idaho has seen across a variety of industries.
A Prime State for High Quality of Life
In addition to Idaho’s economic prosperity remaining a top factor for business relocations and expansions, Idaho’s quality of life and abundance of outdoor recreation opportunities continue to fuel economic growth and visitation within the state.
Idaho’s third-largest industry, travel and tourism, has continued to flourish. Travel spending in 2023 totaled $5.8 billion, representing a 39 percent increase from 2019.
This strong, stabilized economic and job growth will continue with Idaho’s pro-business policies and fiscal responsibility.
To support this growth, the state is making investments where they count, starting with it’s education and workforce.
The best way to make Idaho a place for residents’ children and grandchildren to choose to stay is by equipping them with the skills they need to become lifelong learners and eventual participants in the state’s workforce.
In addition to placing emphasis on literacy and teacher recruitment and retention, Idaho has placed additional focus on workforce development by improving coordination between Idaho businesses, high schools, career technical education and the state's college and university systems. The result is more ways for Idahoans to connect an education to a career.
Elsewhere in the country, fewer students are moving on for additional education or training after high school, but not in Idaho. This past year, Idaho’s largest cohort of students enrolled in an education or training program after high school as a result of Idaho LAUNCH.
Idaho LAUNCH offers graduating high school seniors funds to cover 80 percent or up to $8,000 of the cost of enrolling in an education or training program after high school that leads to an in-demand career. The program has already seen incredible success with the 2024 grant receiving nearly 13,000 applications from the state’s 21,000 graduating high school seniors.
Idaho has also championed record investments in roads, bridges, water, outdoor recreation and other infrastructure – without raising taxes or fees.
Expanding broadband infrastructure also continues to be an important area of focus for Idaho. As the Idaho Office of Broadband enters its fifth year and the Idaho Broadband Advisory Board (IBAB) continues its mission of improving broadband access across Idaho, the team is committed to outreach, transparency and leveraging partnerships across Idaho.
This year, the Idaho Commerce Office of Broadband was notified by the American Enterprise Institute’s (AEI) Broadband Barometer Project that Idaho was named as the top-performing state for the transparency and efficiency of its broadband office. The Idaho Office of Broadband continues to closely monitor and administer the Idaho Broadband Fund Grant Program, Capital Projects Fund (CPF) and the Broadband Equity, Access and Deployment (BEAD) program to improve broadband for Idahoans.
The Idaho Legislature has supported the Governor with investments in workforce housing, creating thousands of new homes for working-class families. Governor Little’s 2025 KEEPING PROMISES plan also adds additional funds to address housing supply so more Idahoans can achieve the American Dream of owning their own home.
Idaho sticks to its core values and commonsense initiatives to support the residents and businesses that are at the heart of the state and make investments where they count.
By investing in infrastructure, good governance and Idahoans, Idaho’s economy and business-friendly environment will continue to flourish for years to come. T&ID
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