What industries call Idaho Falls, Idaho home?
From technology to farming and manufacturing, eastern Idaho is home to all sorts of industries. One city in eastern Idaho stands out, as it is the region's leader of progress and consistent growth. The city of Idaho Falls is the state's fourth-largest city, boasting a population of around 61,000+ residents. Idaho Falls, Idaho, is home to a host of industry leads including the largest being Idaho National Laboratory (INL). INL is a mecca for scientists who research new technologies, and in turn, create new small businesses all over eastern Idaho.
Idaho Falls is home to several other of the region's leading industries, including the Museum Of Idaho (MOI), the United Potato Growers of Idaho, and Idaho's Department of Health district 7 (the largest in the region, servicing/assisting Utah, Wyoming and Idaho residents).
What makes the Idaho Falls so good for business?
As the 21st best small city in the nation, Idaho Falls consistently ranks in the top 25 small cities of the United States. An annual study conducted by ChamberofCommerce.org reinforces that reputation. ChamberofCommerce.org put together a study; of cities with a population between 50,000 and 250,000. There are three key variables, according to Chamberofcommerce.org, that may make; or break; a city.
Location, not geography:
In the beginning, Idaho Falls residents, primarily, were an agriculture-based community. Spending their days farming potatoes and playing baseball. That is until the cold war when the atomic commission chose Idaho Falls to be the home of what residents called "the Site." Idaho Falls was geographically in the ideal location for atomic research. Being so separated from almost every metropolitan area made it the ideal place to hide a research lab from the Russians. When Dwight D. Eisenhower began construction of interstate highways, he was adamant about total government mobility. Meaning, there had to be expedited access to government facilities like "The Site."
When the site came to Idaho Falls, land distribution increased, due to population growth, national interstate highways, and the internet. Idaho Falls' expedited access to the interstate has made it a significant hub for business. Being so near to major cities like Salt Lake City, Utah, and the ever-growing Treasure Valley; has also helped make it a significant hub for distribution channels. Products traveling north from Salt Lake, have to pass through Idaho Falls. They are making it possible for storefronts to operate without fear due to the increased traffic caused by the interstate.
Access to significant distribution channels helps to incentivize online retailers and wholesale retailers alike. While other locations are making it harder to operate storefronts; businesses, in Idaho Falls, maintains the ability to work out of storefronts. The reason being, interstate travelers, need safe, clean places to stop. Idaho Falls is not only clean, but it has increased motivations for weary travelers. By offering more than just a clean, safe environment, Idaho Falls has made itself a major tourist destination for all types of interstate travelers.
As a tourist destination, there is an increased rate of tourism traffic exploring the area, making it possible for storefronts to operate with an increase in sales opportunities. The location has been the key to Idaho Falls's prosperous economy.
For the time being, it will only improve as the rate of consumerism increases.
Location doesn't only provide an increased rate of sales; it also provides a lower cost of living. Once a private getaway from the world, Idaho Falls offers a lot of real estate opportunities for commercial and residential buyers alike.
The city boasts the lowest utility rates in the region, making it a prime location for manufacturing and agriculture, as those two industries utilize many utilities.
A city with an educated workforce almost always performs well in the other variables of the study. Businesses like INL are responsible for fostering an educated populous. Nuclear research is fairly close to rocket science; on the intelligence required scale. The site became the testing grounds for nuclear reactors; Arco, Idaho was the first city - ever – to be powered entirely by nuclear reactors.
Today they continue to research energy and technology, and they employ many Idaho Falls residents. These same residents living within the community increase the total number of consumers and make it possible for additional small businesses to start-up and thrive.
The impact of the larger companies in and around Idaho Falls has expanded past the economy and helped to improve the standard of education. A study was conducted to gain insight into the millennials of Rexburg. The study found residents' hunger for more challenging employment opportunities.
Technology has been pouring out of eastern Idaho for the better part of a century. Still, the average resident of Rexburg believes it is underutilized in the job market. The underutilization of technology in the job market has affected residents' in a less than typical way. While technology is prevalent in eastern Idaho, its total-usability is what is being under-utilized. A lack of technology usage allows technology-savvy companies, looking for talented workers and affordable real estate, the ability to find both of these things in Eastern Idaho. Because Idaho Falls exceeds the standard for retaining an educated workforce, it has become one of the best places to start and run a small business.
Idaho Falls is home to some of the nation's most significant research advancements in technology, and it's slated to get more intense. The 2020s are set to be a transformative decade for Eastern Idaho. With significant government facilities, comes an increased need for more educated workers.
With a significant influx of opportunity like this, the chances of more workers than jobs arriving in Idaho Falls is possible. Meaning, if a company were to join the government in job creation, they would be able to compete for the best of the best. Idaho Falls a 2.6 percent unemployment rate, which can indicate the overall willingness to work.
When deciding where a company should operate, it is vital to know if the workforce is not only available but willing. Idaho Falls provides both a willing and educated workforce, helping to set it above its peer-cities. The city's low cost of living has also helped make it possible for sustainable job creation and growth. A low cost of living makes Idaho Falls even more appealing to start a business in Idaho Falls.
Eastern Idaho is home to several state university satellite campuses and the College of Eastern Idaho. With a low cost of living, eastern Idaho offers an increased incentive to anyone seeking a college education. Eastern Idaho capitalizes on these increases in educated residents by providing ample work opportunities for their college graduates. Graduates are afforded more access to higher salaried positions, not just minimum wage positions after
Residents of Idaho Falls have the opportunity to start making a higher salary, which, coupled with the cost of living, makes it ideal to stay in Idaho Falls. Idaho Falls didn't just fit the requirements for an ideal business environment; they also proved they are the ideal business environment. The study reviewed sales of companies in Idaho Falls, and the numbers verified that they have a flourishing economy.
All work and no play?
With an increase in researchers comes an increase in community appreciation for education; Idaho Falls has become a primary tourist destination for lovers of science, art, and nature. Idaho Falls is home to the largest museum in Idaho, recently finished doubling in size, The Museum Of Idaho (MOI). There is something for everyone to enjoy within the city of Idaho Falls. Idaho Falls continues to strive in excellence to meet and exceed the community needs and attracts visitors from all around the world.
MOI hosts some of the most prominent traveling exhibits. The Willard Art Center, Colonial Theatre, and Civic Auditorium have year-round concerts, plays, and events. Idaho Falls is a tourist hub for adventurers and all those seeking to learn and experience some of all the wonderful things this area has to offer. Thus, bringing visitors to the community from all over the world. From Yellowstone National Park to the Teton Valley, there is a site for every nature enthusiast. Finding the correct location to operate a business can be a daunting task. Idaho Falls and the Greater Idaho Falls Chamber of Commerce has made it simple to decide if Idaho Falls is the right place to do business.
By providing workers, ample/affordable land, and abundant natural resources, Idaho Falls makes it very difficult to name a better location.