Idaho

Economic policy

The Idaho Department of Commerce coordinates economic development initiatives in the state which are carried out by various departments and executive councils. The International Business Division of the Department of Commerce has as its mission the identification of opportunities for Idaho products in international markets, and helping Idaho companies capitalize on these. In 2003, the division was maintaining fully staffed trade offices in Guadalajara, Taipei, and Washington, DC, and representative offices in Shanghais and Seoul. The Division of Economic and Community Affairs, within the office of the governor, seeks to widen markets for Idaho products and goods and services, encourage film production in the state, attract new business and industry to Idaho, expand and enhance existing enterprises, and promote the state travel industry. A report issued in 2001 by the Governor's Science and Technology Advisory Council laid out a blueprint for Idaho to become a leader in the New Economy. Incentives for investment include conservative state fiscal policies and a pro-business regulatory climate. Idaho offers industrial revenue bonds to assist companies with the financing of land, buildings, and equipment used in manufacturing. The state extends loans to businesses seeking to start up or expand and for energy conservation improvements. To help distressed areas, there are matching grants for economic development as well as training in strategic planning and economic diversification techniques. Cities and counties may also apply for community development block grants. State support in 2003 included funds for job training issued to companies through the Department of Labor, and awards of tourist promotion funds to 35 tourist committees, chambers of commerce and other nonprofits through the Idaho Travel Council (an eight-member private sector advisory board appointed by the Governor).