There are several economic incentives for companies to make the move to Bannock County, Power County, and other nearby areas. Here are a few examples:

Idaho offers several tax exemptions and incentives to support your business.

1. Sales Tax Exemption: Idaho provides sales tax exemptions on purchases of machinery, equipment, and raw materials used in manufacturing, processing, or fabrication activities. This exemption helps reduce the cost of doing business for manufacturers.

2. Research and Development Tax Credit: Idaho offers a tax credit for qualified research and development (R&D) expenses incurred by businesses engaged in qualified R&D activities. This credit encourages businesses to invest in innovation and technological advancements.

3. Investment Tax Credit: Businesses that make qualified investments in Idaho may be eligible for an investment tax credit. This credit applies to capital investments made in qualified property, such as machinery, equipment, or facilities.

4. Employment Tax Incentives: Idaho offers various employment-related tax incentives to encourage job creation and workforce development. These incentives may include credits or exemptions related to employment and training programs.

5. Property Tax Exemptions: Certain types of property used for specific purposes, such as pollution control equipment, renewable energy facilities, or certain types of agricultural property, may be eligible for property tax exemptions in Idaho.

6. Tax Increment Financing (TIF): Tax increment financing is a tool used to finance public infrastructure improvements or redevelopment projects. It allows for the capture of a portion of the increased property tax revenue generated by a development project to fund infrastructure improvements in the project area. You can call us for the most up-to-date and accurate information regarding tax exemptions and incentives for your businesses in Idaho or review the Idaho Commerce at a Glance document (here).