Page 5 - EconDevelopmentPacket

Incentives— Incentives & Resources
Local incentives are by statute and available as tax
exemptions or credits, assistance with public
infrastructure or support services for business activities. Good reasons to do business in Post Falls, Idaho—
Examples include:
Tax Increment Financing. The City of Post Falls Urban Idaho’s economy is one of the strongest in the nation
Renewal District can provide tax increment financing to due to a low taxes, a balanced state budget, and
common sense regulatory environment.
help with public infrastructure construction (i.e., public
See Rankings Below:
roads, signals, water/sewer main lines, street-scaping
• #1 State—Top Performing Economy (Bloomberg)
and others).
• #1 State—Job Growth in the Nation (Kiplinger)
Idaho is pro-business, providing a variety of tax and
business incentives to help both existing and new • #3 State—Business Friendliness (CNBC)
businesses equally. In Idaho, you can count on a stable • #4 State—Cost of Doing Business (CNBC)
tax environment; our legislators kept a balanced budget • #5—Strongest State Economy (CNBC)
through the recession without raising taxes and is
• Lowest Average Cost—of Utilities in the Nation
currently rebuilding a healthy “rainy day fund’ because (Move.org)
they understand the importance of regulatory certainty
• #1 Patents per Capita and #6 Most Inventive State
and economic stability. (CNNMoney.com)

• Living and working in Idaho is a one-of-a-kind
Examples of state incentives experience. We boast the lowest cost of living in the
Investment Tax Credit. 3.0% on all new, western states and, with an average commute time
depreciable, tangible personal property placed in of just under 21 minutes, Idahoans get to work,
Idaho home and the outdoors faster than anyone in other
Research and Development Tax Credit. 5.0% tax western metro areas.
credit on qualified research expenses
Sales Tax Exemption on Utilities & Industrial Fuels.
Standard exemption for all business in state We are committed to assisting businesses and
Production Sales Tax Exemption. Businesses providing support as you grow and expand your
purchasing equipment and raw materials used business. If you are looking for a new location,
directly in manufacturing, processing, mining, considering expansion, or want to learn more about
fabrication, logging, or semi-conductor may earn incentives for businesses in Idaho, you can find links
a sales tax exemption
Real Property Tax Credit. 2.5% on investments in to City, State and Federal resources you need to be
new plants, buildings, and structural successful on the City’s website
components placed in service in Idaho www.postfallsidaho.org.
Idaho Business Advantage. Enhanced tax credits
and rebates for companies investing $500K, with Our Economic Development staff and Community
at least 10 jobs paying over $40,000/year and
additional jobs averaging $15.50/hour Development Department are ready to help you
New Job Tax Credit. Up to $3000 per new job through the process whether you are building a new
created facility, expanding your current facility, locating to
Tax Reimbursement Incentive (TRI). Businesses Post Falls or planning to start a new business.
that create a minimum number of jobs (20 in
rural communities; 50 in urban communities), Your Friends at the City of Post Falls
with an annual wage equal to or above the For information or assistance on relocating or
county annual wage (currently calculated at
$16.50/hour) may be eligible to receive a refund expanding your business
of up to 30% of their income, sales and payroll Email: rseale@postfallsidaho.org
taxes for up to 15 years. Other rules apply. (208)773-3511 or Toll Free (888)925-9961