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The State of Idaho Offers Incentives to Create Quality Jobs

Overview

Through House Bill 546, and the Idaho Reimbursement Incentive Act, the State of Idaho formally introduced the Tax Reimbursement Incentive (TRI) on April 3rd, 2014.

Companies which are expanding in, or locating to, Idaho may be eligible for a refund of up to 30% of newly generated sales, payroll, and corporate income taxes. The incentive can extend for a period of fifteen (15) years. The State will have discretion in determining an incentive’s value and term. Pertinent factors may include a project’s overall economic viability, its strategic important to the State and region, and the return-on-investment to the State.

Idaho resizedJob Creation Commitments

For companies located in rural areas, eligibility is predicated on creating a minimum of twenty (20) net new ‘economic based jobs’. The Idaho Reimbursement Incentive Act defines a rural area as one, that at the time of an application submittal, has a population of less than twenty-five thousand (25,000) persons, or lies in an unincorporated area within a county; and, which does not lie adjacent to an urban county as defined below.

For companies located in an urban area, eligibility is predicated on creating a minimum of fifty (50) net new economic based jobs, which pay above the appropriate average county wage. An urban area is one that at the time of an application submittal has a population of at least twenty-five thousand (25,000) persons.

Local Support

Along with job creation, applicants must demonstrate a community match, or inducement from a local government. The inducement is to be made specific to the proposed job creation; and, it may consist of cash grants, permit fee waivers, infrastructure assistance, or a form of assistance mutually agreed upon and acceptable to the State.

Timing

Applicants should submit incentive applications and procure the appropriate approvals prior to the commencement of hiring and investment activities so as to effectively demonstrate that receipt of the incentive plays a material factor in the business decision to expand in, or locate to, Idaho.


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