Pocatello to join regional economic development program

Pocatello City Councilmen voted Thursday to join Regional Economic Development for Eastern Idaho (REDI).

The organization will help support the city’s new economic development program focusing on business recruitment, expansion, and retention efforts.

REDI said the partnership will allow Pocatello to tap into the organization’s local, regional, and national marketing efforts and expand its affiliation with Bannock Development.

“Together, REDI and Bannock Development Corporation will be a one-two punch when it comes to marketing Pocatello,” said Mayor Brian Blad.

“Adding Pocatello as member of our organization furthers REDI’s efforts to secure strong regionalism and better market the entire Eastern Idaho corridor,” said REDI CEO Jan Rogers. “We look forward to working with Pocatello to expand business development, expansions, and create more jobs for its residents.”

The city will contribute $30,000 to the REDI organization. In approving the move, the city council Memorandum of Understanding (MOU) outlined an expectation the partnership would help create and keep primary jobs in the area, diversify the local economy, and provide stability for local business.

In promoting the 14 county area, REDI says its objective is to be funded 60 percent by investments from the private sector and 40 percent from the public sector. Investment requirements are based on a formula using most recent census population estimates.

Other members of the REDI organization include Idaho Falls, Chubbuck, Ammon, Ucon, Blackfoot, Shelley, Rexburg, Bonneville County and Bingham County.