Idaho’s Top Industries

When one thinks of Idaho’s top industries, they will likely automatically go to potatoes. Although we do supply around 1/3 of the country’s potatoes, that’s not all Idaho has to offer. If you’re thinking about moving over to the great state of Idaho, but wonder if you will find a job in your industry, check out the list of top industries below.

Advanced Manufacturing

This industry is defined by highly technical & cutting edge processes as well as the employment of skilled & higher paid employees. As it continues to grow in Idaho, it’s encompassing more and more industries and occupations within itself. Advanced Manufacturing employs 6% of the entire state’s workforce, which is more than 40,000 jobs, and contributes $7.3 billion to the state’s GDP. In the next 10 years, this industry is expected to grow at least 10%.

Aerospace

North Idaho is currently home to more than 6 dozen aerospace companies which perform work such as aircraft operations, maintenance, parts manufacturing and aircraft assembly. But why Idaho?  We’re actually unique in a few ways which makes this industry thrive. We’re close to many large international airports, as well as Boeing production facilities & operations, the vast airspace Idaho has to offer and our technological capabilities. In the next 10 years, the aerospace industry is expected to grow 41%.

Technology & Innovation

This industry is a strong driver of Idaho’s economy, in fact, over the last decade the number of high-tech companies in the state grew 61%. Idaho is the location of the only U.S. based memory chip maker company, Micron Technology. Not to mention that we’re the center of Hewlett-Packard’s imaging and printing group. And we’re home to The Idaho National Laboratory, who both designed and construction the first nuclear reactor to generate usable amounts of electricity. As this industry continues to push boundaries, promote start-ups and fuel growth and discovery, it’s no wonder it’s forecasted to grow 20% over the next 10 years.

Food Production

Idaho is more than just potatoes! In fact, in the nation we are first in trout production, second in Alfalfa hay and third in cheese. Other items produced in Idaho include dairy, beef, wool, sugar beets, wheat, barley, hops, onions, seeds and several kinds of fruit. Idaho has a lot to offer. Idaho’s power costs are the lowest in the country, industrial rates are are 40% less than the national average and we have a pro-business climate, so it’s no wonder companies come here to produce their goods. Food production is expected to grow 8% in the next 10 years.

Healthcare

Healthcare has always been a steady and consistent industry in Idaho. But, as more and more people move to Idaho, it increases the need for medical workers.  Also, our population seems to be growing older at a faster pace than the rest of the country. Elderly individuals tend to need additional health care works than the average young person. Over the last 10 years, healthcare companies have added 46% more jobs and it’s only going to grow in the future.

Outdoor Recreation

Idaho is best known for it’s outdoor activities. So if you are an outdoor recreational company, or thinking of starting one, there is no better location than one you could test your products right outside your door. Our business environment allows for a low cost operation and a multitude of experts in this field. The outdoor recreation industry is expected to grow 18% over the next 10 years.

Back Office/Shared Services

In today’s world, the location of your back office services such as accounting, human resources, sales and customer service can be just about anywhere. Idaho is a great location for this industry since you can serve your customers fully but avoid the high costs of a metro area. To add to it, people love living in Idaho so they are less likely to be unhappy or complacent at work. In the next 10 years, back office/shared services is expected to grow 25%.

Tourism

For many, Idaho is one of the top places to visit. This, in turn, is causing the tourism industry to grow. This industry supports business that offer outdoor recreation, lodging, fine dining and more. The Idaho Dept of Commerce says that the tourism industry brought in $3.7 billion in 2017, including $475 million in local, state and federal tax revenues. What a huge boom to our state economy! As Idaho continues to draw is tourist, this industry is only going to grow.

Energy/Utilities

As mentioned in the technology & innovation industry, we’re home to The Idaho National Laboratory (INL). INL is the nation’s lead nuclear research facility that has a science-based approach. Their research yields technically achievable, economically competitive and environmentally sustainable options. To add to it, Idaho’s population is growing which creates the need for new homes and business. These new homes and business require electrical services which increases the number of jobs needed in the utilities industry.  The Energy/Utility industry is expected to grow 19% in the next 10 years.

Credit: Idaho Commerce, Idaho Falls Spokesperson, Idaho State Business Journal, StevensHenager