● Nickname：Gem State
● Capital City: Boise
● Population: 1.70 million
● Land size: 83,557 square miles (216,412 square km)
● GDP: $69.2 Billion
● Bloomberg and Kiplinger ranked Idaho as the nation’s No. 1 Top Performing Economy.
● The U.S. Department of Labor rated Idaho No. 1 in job growth.
● The U.S. Census Bureau reports Idaho is the nation’s fastest growing state.
● In its 2018 rankings, CNBC rated Idaho No. 3 in the nation for overall business friendliness, No. 4 in cost of doing business and the No. 5 best economy.
● The U.S. Bureau of Labor Statistics reported Idaho as the seventh fastest-growing GDP in the country.
● Advance Manufacturing
Manufacturing is big business in
Idaho. It accounts for 14.7% of the state’s private sector GDP and employs 5.5%
of the total workforce. In 2017, 1,500 of Idaho’s current manufactures produced
$6 billion to the state’s GDP and employed 40,000 (5% of total employment).
Advanced manufacturing is a subset
of this sector, differentiated by the use of highly-technological, cutting-edge
processes and the employment of skilled, comparatively high-wage jobs. The
advanced manufacturing sector in Idaho is growing rapidly and expanding to
encompass ever more industries and occupations.
The state’s advanced manufacturing industry is driven by businesses large and small that produce food, computer and electronic products, transportation equipment, medical equipment, system and process equipment, chemicals and plastic products, wood products, fabricated metal products, and machinery.
● AEROSPACE Industry
Idaho is home to more than 200 aerospace companies, 25 of which are manufacturers of parts and products. Idaho’s industry leaders like Quest Aircraft, Empire Airlines, and Unitech Composites find that Idaho offers many competitive advantages, like a ready workforce, a pro-business climate, financial incentives, and a low cost of doing business. Idaho’s varied terrain and high-tech capabilities make the state an ideal location for the research, development, and testing of aviation-related products. The aerospace industry has grown by nearly 40% over the past 20 years. Idaho’s aerospace businesses span aircraft operations; maintenance; parts manufacturing; and aircraft assembly.
● Technology and Innovation
Idaho has a long history of innovation. Philo Farnsworth of Rigby is credited with the first electronic television set, and we all know J.R. Simplot as the man behind frozen French fries. Idaho’s inventors have been able to harness brilliant ideas to change the world.
That still holds true today. Idaho is home to the only US-based memory chip maker, Micron Technology, and is the center of Hewlett-Packard’s highly profitable Imaging and Printing Group, which introduced the HP LaserJet printer. Nearly 50,000 people work in Idaho’s innovation industry, and they’re pushing technology boundaries, launching start-ups, and fueling further growth and discovery.
Technology and innovation are strong drivers of Idaho’s economy. Perhaps that’s why the number of high-tech companies in the state grew 61% over the past decade.