Boise ID; A great place to start a business
Boise, Eagle, Garden City, Nampa, Caldwell, Idaho Market Potential and Growth
(Economic City Report Service Sector)
Boise, Eagle, Garden City, Nampa, Caldwell, etc. The Boise Area was rated number two in the nation as the best place to do business. Boise is getting their share of the California exodus and that growth has been as high as 2.6% to 2.7% per year up until 2000 (Then 181,700 pop) and now is said to be 1.8% to 2% growth, which is staggering and literally put it as one of the top 20 cities for growth in the US. It rivals Reno, NV for its growth still.
Boise does not have as many sunny days a year as you might think and it gets about 234 on average and gets its share of both rain and snow in Winter. Rain about 12.1 inches and snow about 21.4 inches. Some of the storms are intense when the weather flows over the Cascades in WA and OR or fast moving North East storms out of CA and NV. The crime is relatively low. Housing costs are low and cost of living is said to be 14% below average in America. Forbes taking this into consideration has moved Boise from fifth place in 2000, sixth in 2001 and then second in 2002 as the best city to do business in. Austin, TX was number one and Forbes may have played a little politics on that one in my opinion. However Austin certainly deserves one of the top billings.
Visit www.boiseidaho.com to start your search for technology firms in Boise.
The lifestyle is also a major plus and mountain bikes and outdoor toys and hiking equipment sells well and there is a 46 miles trail “The Boise River Greenbelt.” This has provided homebuilders and business investment in the area with a proven ROI. Corey Barton Homes a local favorite has built some 38 housing tracts in the area. Average House Prices are $96,000 in Canyon County and $142,000 in Ada County. We talked to one lady moved from Lakeview Suburb of Denver and she said her house payment was $300.00 per month cheaper than her apartment in Denver? Her house was purchased within the standard range and was $130K, she was divorced and said she was much happier in Boise and away from the Rat Race. Reason for divorce appeared to be money issues with jobs in Denver, isn’t it always about money? These issues are tearing apart America.
When Forbes voted it number 2, it was a god sent for the Economic Development Association and City, Regional and State Chamber of Commerce. Shirl Boyce, VP Metro Chamber Economic Development Council, was quite satisfied on a job well done from the team there.
http://www.BoiseChamber.org .
Now their team has concentrated on the next upswing for the Nano-Tech Industry. With the DOE in state they believe they have a chance to compete to make Boise the Nano-Tech area of the Country. But when we visited New Hampshire they too were interested in expanding that sector while Boston and San Diego and Virginia all hot on the trail. And do not count out Denver or NM or PHX or LA (the Jury is still out on the Nano Capital of the US). Other cities in the Forbes study, which were rated high were. Also Research Triangle in NC, Atlanta and suburbs and Madison, WI (which we totally disagree with) and Provo, UT which we are unconvinced and Omaha, NE (but we like Lincoln better but still the cities are nearly touching now, so it is an okay call).
Big employers in Boise include some huge companies in the Fortune 1000. Alberstons HQ # 35, Washington Group # 435, Boise Cascade # 254 (just bought Office Max) and employs 1,000 in the city, 1300 in the state. Micron # 554 with 9400 in state. HP and spin-off company Pro-Clarity. Also in Boise big employers include J.R. Simplot personal Friend and potato grower to Mc Donalds, employs 2500 in Boise and 4500 in state. St Lukes Hospital 3295 employees. Direct TV call center renamed to Contact Center due to FTC attack on call centers employs 1600. Amalgamated Sugar 380 employees, Zilog wafer manufacturer 210 people. With the cost of living under that of Phoenix and Portland it makes a lot of sense. Kids and family enjoy the Roaring Springs Water Park in summers with 450 employees, 150 of which are certified lifeguards, very impressive. Lots of soccer teams, parks and baseball fields over half with lights. The apartment vacancy rate is 10.9% which is less than last years 12.2% and supply and demand issues are holding prices of apartments up even with low interest rates and new homes in nearby areas of Nampa and Caldwell. Both growing, Nampa faster than could have been predicted. Labor rates are generally $6.00 to $7.00 at most temporary services. Intermountain and Labor Ready on the $5.50 – $6.35 area. This costing the employer about $9.87 to $10.57 and the rates vary widely. North West Staffing at 41% for quality labor from college age kids.
There are some 12,759 apartments in Ada County. 750 under construction and to be finished before 2004. Manufacturing jobs are continually being a problem as the high tech field has had so many layoffs. They expect the Manufacturing Sector to lose about 1.2% in 2004. We believe it might be higher unless they reposition themselves and they are working on it. 8 out of 10 jobs are in the service business or jobs in the service sector, of course this includes Agricultural jobs for restaurants. One-bedroom apartments are averaging $566.00 and two bedroom are $642.00 these are down about $25.00 since last year.
The National Association of Residential Properties is still bullish on the Boise Market as well;
http://www.narpmswidaho.org .
It has been discussed that since the previously predicted 600,000 jobs maybe less and lets say 577,000 or less in 04 then apartment prices might be a supply and demand issue with several new apartments going up in Nampa, but also with the Hispanic growing populations and the influx of California Refugees continue it might be sufficient to say all is well on price and supply. Downtown is flourishing considering the excellent job on renovation and proximity to the State Capital Building. There are 2600 parking stalls in covered garages downtown, many high rises.
Traffic is a little bit of an issue and the city is under perpetual construction admits all residents. It will never be done. We could barley get downtown to the chamber of commerce with the construction and all the one-way streets. Complete hell. But they must do road construction in summer to make it work in Winter, after all it is the capital and must look good for politicians to prove self worth, most people are satisfied with government in ID. It took us 28 minutes and 14 seconds to drive from Broadway and Front to the Chinden-Broadway Connector and across Fairview to Garden City, city limits during rush hour. During non rush hour about 18 minutes and 20 seconds, missing six signals. Freeway on the 184 took eight minutes during rush hour. The city is navigatable, but trips need to be planned whether it is Winter or Sunny summer during construction.
We were able to discuss the growth with one Media Advertising Salesman, who said furniture sales were good due to the new housing and mass exodus people from the Socialist Republic of California (SRC) as they refugees often call it as the leave CA and then slander it. The price to advertise for small business is very doable and even the local florists can afford the TV Cable and radio ads. This individual and his wife were from Austin and Dallas and would move back, but the cost of living and the earning potential did not make sense to move back to TX even though all their families are there. Now that is an awesome testimonial, considering both those great markets. Our interview with him seemed to correspond close to the Boise Advertising Federation, which he also sits on the board.
We talked to one couple older who moved to Logan, UT from San Francisco and will never go back. After selling their property at a loss and having health issues wanted to move to Boise for the low cost of living and excellent hospitals. Including a Veterans Hospital, St. Lukes and Saint Alphonsus with a 208 million dollar expansion almost completed. The city has 7 colleges and 7 Tech Schools and many transplants from the Moscow, ID and Lewiston, ID area and from Pullman, WA, who upon graduation come to Boise, and draws the kids from the rural areas in WA and ID. We met several including one who worked in the Prisons helping kids get HS Diplomas while in jail or juvenile hall. The education of the population had interesting figures as well, for instance 86% had above HS education. Over 25% had Bachelors Degrees. This may help out in the unemployment figures, which are not too bad. In 2001 at 5.1% and now about 5.8% non-agriculture figures.
Meridian a near by suburb; has a huge expansion curve as demographics go. Top ten in country for its size. Nampa with 100K population now and Caldwell is pushing its size past its 25,000 Census figures of 2000. Also an older crowd moving into trailer homes and high-end retirement houses in the Meadow Lake Estates. Boise is a perfect market with growing suburbs for any small business, multi-chain operation or large business, which wishes to tap into the good labor market there. We are impressed with all the have done and are continually doing to maintain smart and steady growth in the region.
