Idaho has put together a solid set of incentives that has increased their competitiveness for site selection projects.
Idaho (PRWEB) October 07, 2011
When Allstate decided to open a new facility and hire 600 people in Idaho this year, it was only after a nationwide search for the right location.
The company chose Idaho for a number of reasons, not least among them the state’s variety of incentives.
“Idaho has put together a solid set of incentives that has increased their competitiveness for site selection projects,” said Brian Corde, managing partner of Atlas Insight, a New Jersey-based company that provides site selection services.
Idaho offers a number of incentives and assistance to companies looking to expand or locate in the Gem State. A new brochure listing up-to-date information is now available online.
Included among the incentives is the new “Hire One” refundable income tax credit for businesses that fill newly created positions. Qualifying businesses can receive up to 6 percent of gross wages paid during the first 12 months of employment.
Other incentives include The Idaho Business Advantage that provides a variety of tax credits for businesses that invest a minimum of $500,000 in new facilities and create at least 10 qualifying new jobs.
The 8-page brochure also lists several business resources available, from customized recruiting services and training by the Department of Labor to export assistance by the Department of Commerce. There are also several grant programs that are open to communities seeking funds for public infrastructure facilitating economic development.
In addition to incentives, the state makes relocation searches easy by offering an interactive website loaded with available properties. Users of http://www.gemstateprospector.com can search for properties and run reports on each location’s demographics to determine workforce availability and sales potential. Maps that illustrate transportation corridors are also on the site.
These incentives and others can be seen at http://www.commerce.idaho.gov/business/publications.