Idaho No.1 in job growth in the country
The Gem State is at the top of the list for job growth and Bannock County economic experts say it’s because of a favorable climate for businesses in the state.
Personal finance and business website Kiplinger highlighted Idaho and nine other states with employment gains ranging from 2.7 percent to 3.5 percent. According to the website, Idaho has had a 3.5 percent increase so far this year, making it the top contender.
In April, the U.S. Bureau of Labor Statistics showed Idaho was the best state for job growth between March 2015 and March 2016.
Arlen Wittrock, the chair for Idaho’s Economic Advisory Council, said it’s because the state has become a place to be for businesses.
One recently passed statewide business incentive was the tax reimbursement incentive, which allows a business to receive a tax credit of up to 30 percent on income, payroll and sales taxes for up to 15 years, so long as the business keeps its word on expanding in the state.
“Government and governors don’t create jobs in the private sector, but they can create incentives in an environment for growth,” Wittrock said.
Bannock County has become host to many businesses in the past couple of years, including the AllState call center in Chubbuck, which has brought in 550 jobs. The recently announced FBI data center expansion in Pocatello is set to bring 380 high-paying jobs to the area. Also, the Amy’s Kitchen plant, which opened in 2014, is still working on creating 1,000 jobs.
Bannock Development Corporation’s executive director John Regetz said the county has really taken advantage of the different incentives established by the state.
“(The state’s) tax exemption program is a very effective tool that our county is one of the best in implementing,” he said. “Pocatello kind of leads the state in administering tax increment financing.”
Bannock County’s location is also helpful.
“We have low operating costs while still being in the same market as Salt Lake City, Portland and Seattle. They are within an easy transportation distance to logistically serve those clients,” Regetz said.
You can click here for the Kiplinger job growth outlook.
