The annual “Rich States, Poor States” report produced by the American Legislative Exchange Council (ALEC) shows Idaho ranking 2nd for economic outlook and economic performance. Here are the metrics ALEC used to make its state rankings:
Governor Little recently said this about the news:
“Not surprisingly, year after year Idaho surges ahead of the competition in job growth, household income growth, economic outlook, economic performance, and fiscal responsibility. Why? Because we have championed unprecedented tax relief while making historic strategic investments in schools, roads, water, workforce, outdoor recreation, and other infrastructure to keep up with record growth. Our businesses and communities are made up of good people who support one another. What Idaho is doing is WORKING!”
An article in Governing noted:
"State policy matters for economic growth: The latest census data documents that millions of Americans are voting with their feet by moving to states that offer more freedom and greater opportunity. With that in mind, the top five states in economic outlook for 2023 may not come as a surprise: Utah, Idaho, Arizona, North Carolina and Indiana . . .
Across Utah’s northern border, Idaho ranks second in the nation for economic outlook. The Gem State joined the 2022 Flat Tax Revolution, condensing both personal and business income tax brackets into a flat 5.8 percent rate. Idaho also boasts a right-to-work law, no death taxes and relatively low property tax burdens.”
A press release from Idaho’s Department of Labor this week provided additional news:
“Idaho’s average wage for all occupations was $26.75 per hour in 2023, according to recently released data from the Bureau of Labor Statistics’ Occupational Employment and Wage Statistics survey. This amounts to an increase of 8.3%, or $2.06 per hour, from the year prior . . .
Employment has also grown across the state. In 2023, Idaho’s reported employment number was 822,690 — an increase of over 25,000, or 3.2%, from 2022’s total of 797,420. Boise, the largest MSA, experienced the bulk of the state’s employment growth. The Boise MSA added 14,240 jobs — a 4.0% gain, exceeding the state’s growth of 3.2%.”
Utah has claimed the top spot in the “Rich States, Poor States” report for several years running. With Idaho's improving economic outcomes, however, the Beehive State may soon be buzzing with concern about being passed in the near future by the Gem State for the nation's top economic ranking.