Conclusion | Analysis of Idaho Strong 2023-2028 Statewide Economic Development Strategy

Conclusion

The analysis of the Idaho Department of Commerce's goals reveals a stark contrast in the state's approach to small and big businesses. There is a 100% focus on attracting, retaining, and supporting big businesses, with comprehensive programs, incentives, and support structures designed to cater to their needs. In contrast, there is no direct mention of or support for small businesses under 20 employees, despite their significant role in Idaho's economy.

This approach positions Idaho as an extremely attractive destination for big businesses looking to expand or relocate. The state offers a compelling package of financial incentives, high-level support, global market access, and infrastructure development that would be hard for any large company to ignore.

However, the lack of specific initiatives for small businesses under 20 employees is a glaring omission. Any potential benefits to these small enterprises appear to be purely incidental, rather than part of a deliberate strategy to support this crucial sector of the economy.

This disparity in focus raises questions about the long-term balance and sustainability of Idaho's economic development strategy. While attracting big businesses can bring significant investment and job creation, neglecting the needs of small businesses may risk undermining the diverse economic base that often provides resilience to local economies.

In conclusion, Idaho's economic development goals present a tale of two business worlds: one where big businesses are actively courted and supported at the highest levels, and another where small businesses are largely left to fend for themselves in the wake of broader economic development initiatives.

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