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Business Relocation Incentives | Relocate To Pro-Growth North Idaho

Attractive Business Relocation Incentives

Corporate Relocation Incentives Idaho, and other incentives are frequent ways to promote business relocation to municipalities, counties and states throughout the USA. For business owners, business relocation incentives, tax reimbursements, low rates or even loans may mean the difference on whether a business moves to a new town, or not. When another state offers more attractive incentives than the state where a business operates in, business owners sometimes decide to relocate their company.

Idaho, popularly known as the "Gem State", offers companies a combination of low tax rates, and tax credits for hiring Other advantages, programs, and services are available specifically in North Idaho through the Coeur d’Alene Area Economic Development Corporation.

Additionally, Idaho offers a healthy environment, a skilled workforce, and a profitable and strong economic climate. In fact, in 2007, Idaho was ranked as the "6th Best State for Business" by Forbes magazine.

Idaho Business Relocation Incentives and Tax Credit Options

There are a considerable amount of incentives North Idaho for relocating businesses, for moving a corporate headquarters, a manufacturing business or other business to the Gem State that are advantageous in the short-term and long-term. Relocating to Idaho can prove to be particularly beneficial for a larger corporation provided, that at least $50 million are invested along with and 500 new hires. In this case, corporations may be eligible for an additional 6% tax credit (up to $5 million) annually. Depending on the salary levels, companies can even receive a new jobs tax credit ranging from $1,500 to $3,000 per job. Large corporations can also receive up to $500,000, as a 10% real property improvement tax credit; and companies can qualify to receive up to $2 million per year, as a temporary property tax reimbursement for a new headquarters.

Idaho’s 3% Investment Tax Credit

Companies that invest in tangible property investments and construction for business operations in Idaho may also qualify for a 3% investment tax credit. Up to 50% of a businesses state tax liability may be offset by this investment tax credit. Additionally, companies can carry the state income tax liability for up to 14 years.

Idaho’s 3% Broadband Telecommunications Tax Credit

Companies and telecom providers that relocate to Idaho, improve infrastructure and utilize broadband equipment for services for Idaho residents can qualify for a 3% investment tax credit. A business may receive up to $750,000 through Idaho’s Broadband Telecom Tax Credit. The tax credit may be transferred, and companies can carry it forward for up to 14 years.

Idaho New Employee Training Reimbursement

Idaho’s Workforce Development Training Fund program can offset some expenses for new hires within Idaho; this may be one of most advantageous, business relocation incentives for your business. Companies qualify for reimbursement of training costs up to $2,000, provided the company pays an hourly wage of at least $12 for each new Idaho job. In rural counties, reimbursement can be as much as $3,000 for each new job that they create in the state.

Net Operating Loss (NOL) Carrybacks and Deductions and other business relocation incentives include a generous Net Operating Loss (NOL) credit with many carryback options. This provision allows companies to deduct up to $100,000 per year. This can be particularly useful for companies in the first couple of years after relocation. Corporations and companies can carry back the losses to two years, or they may be eligible to carry forward remaining losses for up to 20 years.

For business owners and company boards, it is obvious that Idaho is one of the more business-friendly states, particularly considering the “right to work” status. There are many, other, business relocation incentives for business owners including municipal and county incentives, if they relocate their business to Idaho.

For additional, specific information about business relocation incentives in the Coeur D’Alene area and in North Idaho, please call us at (800) 621-5600, or email us info@relocatetoidaho.org.

For Information about Business Relocation Incentives - Contact the Coeur d’Alene Area Economic Development Corporation

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