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BUSINESS COSTS
economy.com ranks Idaho seventh best in the country and number three among western states in overall costs of doing business comparing labor costs, tax burdens and energy costs. Corporation for Enterprise Development ranks Idaho number two in long-term employment growth and scores the state lowest in energy costs.
| Comparison of Overall Business Costs in Western States* |
| Idaho |
$90.0 |
| Arizona |
$98.0 |
| California |
$112.0 |
| Colorado |
$102.0 |
| Nevada |
$95.0 |
| Oregon |
$97.0 |
| Utah |
$92.0 |
| Washington |
$101.0 |
| *Economy.com - July 2009 |
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| Local Property Tax Rate 2010 |
| Twin Falls |
.013904686 |
| Jerome |
.014982781 |
| Cassia |
.009806473 |
| Gooding |
.011145119 |
| Minidoka |
.011201598 |
| Kimberly |
.013904686 |
| Glenns Ferry |
.014393506 |
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START UP COSTS
While building costs widely vary depending on need, location and other factors, the following offers general construction cost averages. Costs are based on a per square foot average and subject to change.
| Local start up costs:* |
| Warehouse Space | $48 | | Retail Space (Shell Only) | $67 | | Retail - Tenant Improvement | $74 | | Professional Office | $116 | | Industrial Building | $66 | | Medical Office Building | $183 | | Technology Center | $142 | | Manufacturing Facility | $65 | | Concrete tilt up building or block and steel building with brick faηade | $86 |
Twin Falls and Jerome follow the 2009 edition of the International Building Code (IBC).
Permit turn around time is currently 30 - 90 days.
*Starr Corporation, February 2011
WORKERS COMP
Idaho employers with workers compensation insurance pay some of the lowest premiums in the country. Lower rates create a surplus, policyholders will save in the form of rate deviations or actual dividends.
Compare Annual Workers Compensation Costs in Western States*
(in thousands) |
| Idaho |  $32.3 | | Arizona | $58.7 | | California | $177.9 | | Colorado | $85.6 | | Nevada | $70.9 | | Oregon | $48.8 | | Utah | $48.9 | | Washington | $128.9 |
*Idaho State Insurance Fund, June 2010
Washington is a composite rate, both employer and employee contribute to the cost.
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