FY2023 Announced TRI Awards
Key Findings
- Five announced projects, including Clearwater Analytics, FAMCO, Micron, Northwest Fourslide, and Suntado
- Total job creation of 2,783 with an average wage of $72,799
- Total capital investment of over $15.1 billion
- TRI percentages ranging from 15% to 30% over terms of 8 to 15 years
Analysis
Small Business Perspective
The announced TRI awards provide no benefits to small businesses under 20 employees. The scale of job creation and capital investment for these projects is far beyond what small businesses can achieve. Even the smallest project in terms of job creation (Northwest Fourslide with 49 jobs) is more than double the size of our definition of small business. The high average wage of $72,799 is likely unattainable for most small businesses, especially in rural areas.
Big Business Perspective
These announced awards represent a significant victory for big businesses in Idaho. The generous TRI percentages and long terms provide substantial tax benefits for these large-scale projects. The ability to create hundreds or thousands of high-wage jobs demonstrates the state's commitment to supporting major corporate expansions. The diverse range of industries represented (from technology to manufacturing to food production) shows the broad appeal of the TRI program to various types of large enterprises.