Goal 1: Support Existing Businesses
Key Findings
- Develop relationships with Idaho businesses to ensure appropriate support and resources
- Be the lead organization for business retention and expansion efforts
- Maintain vigilance for efficient, transparent, and business-friendly regulatory processes
- Identify and resolve impediments to company success
- Highlight business and community challenges, such as workforce training and education
- Analyze long-term strategies to overcome impediments like transportation, broadband, affordable housing
- Produce the Northwest Community Development Institute (NWCDI)
- Engage with federal and local representatives to leverage Opportunity Zones
- Convene the Economic Advisory Council (EAC) to review incentive applications and advise on economic policy
- Support rural Idaho with grants for economic development personnel
Analysis
Small Business Perspective
This goal shows no consideration for businesses under 20 employees, except for the Rural Economic Development Professional Grant program, which may indirectly benefit some small rural businesses. The focus on "high-growth industries" and resolving impediments to a company's success suggests a bias towards larger, more established businesses. The emphasis on workforce training and education in key industry sectors may not address the unique hiring and training challenges faced by small businesses. While the Rural Economic Development Professional Grant program is mentioned, this potential benefit is outweighed by the overall focus on larger enterprises.
Big Business Perspective
This goal is 100% aligned with big business interests. The focus on business retention and expansion, addressing regulatory issues, and tackling large-scale challenges like workforce development and infrastructure improvements caters directly to the needs of larger enterprises. The involvement of the Economic Advisory Council in reviewing Tax Reimbursement Incentive applications further suggests a focus on larger-scale economic development projects.