Idaho Direct Financial Incentives 2012
Idaho's economic development, finance, and tax organizations provide a range of incentive programs to initiate new business and commercial investment. Specific programs include the Workforce Development Training Fund and Idaho Prime Loan Program.
Grants are available to private industry to help commercialize innovative and viable technologies developed at Idaho's research universities. IGEM creates a platform to facilitate and accelerate the transfer of technology out of our world-class research facilities and into the private sector.
Workforce Development Training Fund:
Idaho's Workforce Development Training Fund grants monies to businesses for worker training based on job creation. Firms are reimbursed for eligible expenses, up to $3,000 for each new job created.
Idaho Prime Loan Program:
Commercial banks offer low-interest loans to qualifying small businesses with up to 85 percent Small Business Administration guaranty.
Industrial revenue bonds:
Tax-free bonds to finance manufacturing, processing, production and assembly projects are issued by a public corporation with the project or business serving as collateral. Also, taxable industrial revenue bonds are available up to $20 million.
Community development block grant (CDBG):
Grants to cities or counties for public infrastructure to support business development. Grants of up to $500,000 are given.
Rural community block grant:
Communities in rural Idaho may receive grants to facilitate business development, expansion, or relocation.
Rural Community Gem Grants:
Rural communities may receive grants up to $50,000 for projects that create assets with a high certainty of aiding job creation and job retention.
Tax increment financing:
Cities and counties may use Tax Increment Financing to fund new infrastructure needed to support business development.
Idaho State Contact:
Idaho Department of Commerce
700 W. State Street
Boise, ID 83720
(208) 334-2470 or (800) 842-5858
Incentive and tax information is provided to Area Development by each state's economic development or commerce agency for information purposes only and is subject to revision at any time by the state government. Please contact the state agency directly for full requirements and offerings.