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The list of reasons to bring your business to Idaho is long, but can be summed up with a simple equation: great location + low business costs = greater profitability. It’s really that simple. That’s the Idaho formula.
Great location means more than just geography. Idaho’s strategic location in the western United States makes it an excellent place to maximize product distribution, but the state is also situated among some of America’s most breathtaking, unspoiled landscape, drawing an energetic and creative workforce. And when you consider that Idaho also boasts the second lowest business costs in the west, the decision to do business in Idaho is an easy one.
The state of success
No matter where you operate, creating business success depends on a number of key factors—costs, workforce and partnerships being crucial ones. As a unique state with a range of industries as extraordinary as its diverse landscape, Idaho addresses these crucial business factors in a way that is just as exceptional.
Idaho businesses have always been able to depend on low energy costs to control operating expenses and to improve their bottom line. Fueled by efficient, clean hydro-electric power, Idaho’s commercial energy rates are among the lowest in the United States and are about half that of many western cities.
While low business costs are critical, low cost of living is just as important to maintaining a richly qualified workforce. Fortunately, Idaho is famous for offering a very good life at a very affordable price. Add to that quality of life benefits such as a low crime rate, short commutes and outdoor recreation that is both easily accessible and stunning, and Idaho’s low-cost quality of life can only enhance a company’s bottom line.
Workforce and parnerships
The Stoel Rives 2008 Patent Report gives insight into the state’s highly active and creative business environment, but also the powerful workforce that makes such a prolific environment possible: “For the second year in a row, Idaho ranks first in patent activity measuring the number of patents issued to companies or individuals per 1,000 workers. Idaho’s extremely high patent ratio is more than 3.5 times the national average. So, not only is Idaho a great place to live and recreate but it attracts great minds seeking to contribute their ideas in a peaceful, calm environment.
One of the defining factors of a successful business home is the state’s ability and willingness to work with business partners openly and actively. Idaho offers open-door access to all levels of government. From the Department of Commerce to the state’s business-committed governor, Idaho works hard to be the best place in the nation to successfully start or expand a business.