Idaho Business Review Highlights BVEP's New Funding Model, Focus

The Boise Valley Economic Partnership (BVEP), The Boise Chamber's economic affiliate, was prominently featured in a cover story for the latest edition of the Idaho Business Review. The article, from which you can read a lengthy excerpt below, describes Executive Director's Clark Krause's optimistic outlook for BVEP and how the Tax Reimbursement Incentive has helped to make Boise an attractive relocation option for businesses across the U.S.:

 “Obviously, the economy has changed dramatically since 2010,” [Krause] said. “We want to make sure we’re right on target with our mission moving forward.” One of the likely changes he brought up was shifting from efforts to attract companies that could create a lot of jobs to companies that bring high-paying jobs. “We have a lot of momentum right now. The economy has changed, the unemployment level has changed,” Krause said.

BVEP and other economic development agencies in Idaho appear to be aided by the Tax Reimbursement Incentive (TRI), which was backed by the Idaho Department of Commerce and groups like BVEP. The TRI incentives, which have been given to eight companies pledging to create 1,605 jobs since becoming law in July, are only open to companies that create jobs paying at least county-average wages. Krause said the incentive has helped BVEP. Boise has landed two of the eight TRI projects, SkyWest Airlines and Diversified Fluid Solutions, the latter of which is expanding its existing operation.

“It has completely changed the type of clients that we’re seeing,” Krause said, saying that interest in the Treasure Valley has doubled since July. He said that in the past, BVEP tried to recruit companies from Salt Lake City, or a company debating whether to leave California, but now is competing on a national level, going against cities including Nashville, Phoenix and Kansas City. He said BVEP has also increased its travel and online promotion of the Boise area. “It’s a whole different ballgame since July 1,” he said. “You can feel the momentum shift.” "

You can read the article in its entirety on the Idaho Business Review's website (print or digital subscription required), or in the publication's most recent print edition.