Sep. 15, 2014

Tax Reimbursement Incentive Yielding Returns Already

The Tax Reimbursement Incentive was a turning point for economic development in Idaho. Passed in the 2014 legislative session, the rewards of the bill are already being realized only six months later. The Idaho Business Review revisits the process the leadership, private business and organizations that brought this game changing economic development tool to life.

via zkBoise

#idleg #idpol: TRI has been used by Idaho-based business as well as attracting out-of-state companies.

via zkBoise

#idpol #idleg Otter: Tax Reimbursement Incentive has been a success in attractive business, growth.
Nov. 11, 2014

Tax Incentive Helps Idaho Companies Expand

A northern Idaho software company, Kochava, will now be able to add at least 35 jobs because of the Tax Reimbursement Incentive. The incentive rewards companies for expansions for high paying job creation.

Feb. 10, 2016

First Annual TRI Report Shows Promising Returns

The Idaho Department of Commerce will see a 422 percent return on the tax reimbursement incentive investments it made in 2015, according to a report presented to an Idaho Senate subcommittee Feb. 2.

The Legislature gave the Idaho Department of Commerce the power to use TRIs to encourage business expansion and relocation within the state. The program went into effect July 1, 2014 and the first fiscal year with the program in place ended June 30, 2015.

A TRI is a tax credit the Department of Commerce can offer a business if it brings a certain number of new, high-paying jobs to an area. The credit can be worth up to 30 percent of a company’s income, payroll and sales taxes for up to 15 years.

Within its first year, the TRI program attracted eight new companies to the state and encouraged eight existing Idaho companies to expand.

Jun. 12, 2015

Leading Locations for 2015: The “Recession Busting” and Year-Over-Year Growth Metros

by Area Development Magazine

Maintaining strong economic growth — year after year — is the mark of strong economic development leadership. Cities that show year-over-year growth typically follow well-devised economic development plans and make the investments needed to retain and attract business. Area Development Magazine recently ranked the Boise City-Nampa MSA tenth overall in this growth category. 

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