Business Development
Develop Your Business on a New Frontier
Business owners around the globe are continuously seeking regions that promise sustained growth, financial advantages, and a supportive environment. Look no further than Twin Falls, Idaho. Keep reading to learn why Twin Falls is the right place for your business.
Gem State Prospector Stats
Opportunities for Growth
In Twin Falls alone, the population has increased 17 percent in the past 10 years. The valley is home to approximately 189,000 people, and that number is growing every day. What’s bringing people to Southern Idaho? Beautiful scenery, safe cities, a low cost of living, and one of the lowest unemployment rates in the state. There’s a lot of room to grow in Southern Idaho.7
Rapid Population Growth
Twin Falls has a population growth rate of 4.8% and a whopping 20% increase since 2010.1
Young and Educated Demographic
The median age in Twin Falls stands at 34. Over 35% of these individuals possess an associate's degree or higher.1
Affordable Operating Costs
The average commercial electricity rate in Twin Falls is an affordable 6.21¢/kWh.4
Stable Economy
Twin Falls boasts a low unemployment rate of 3.1%. With an average individual income of $28k and a median household income of $54k,1 the economic landscape is stable and promises consumer spending power.
A Bounty of Financial Incentives
Idaho’s pro-business stance is evident in its suite of financial advantages. The Tax Reimbursement Incentive offering up to 30% tax credits to the Idaho Business Advantage with a plethora of incentives for qualifying businesses.
Tech and Digital
For tech and digital companies, the Data Center Sales Tax Exemption and the Idaho Semiconductors for America Act provide substantial tax breaks.
Tax Credits for Equipment
Investments in machinery and equipment can benefit from the 3% Investment Tax Credit, easing the financial burdens of business growth.
Employee Benefits
Promote employee loyalty and commitment with the Idaho College Savings Program Employer Tax Credit. By contributing to an employee's Ideal college savings account, businesses can avail of a 20% tax credit.
Fostering Innovation
IGEM, or Idaho Global Entrepreneurial Mission, bridges the gap between private sector experts and research professionals. This collaboration promises innovative technologies and high-value jobs, enriching the state’s business ecosystem.
