General Fund Revenue Report / Division of Financial Management
Tax collections were slightly higher than expected for April. Idaho’s general fund, the state’s main bank account, topped revenue forecasts by $500,000.
The Division of Financial Management’s monthly General Fund Revenue Report shows individual income and corporate tax collections came in 1 percent and 12 percent below the forecast. Continue Reading
Robyn Beck / AFP | Getty Images
Idaho has granted more than $43 million in workforce training dollars since the program began in 1997.
Thirty-one companies in Idaho have been granted nearly $20 million in workforce training grants.
The Idaho Department of Labor reports the active grants range from about $10,000 up to nearly $6 million. Businesses typically have two years to use the grant money, but Labor Department spokesman Bob Fick says contracts are often extended.
Here’s a list of the active workforce training grants: Continue Reading
Matthew Stockman / Getty Images
Idaho's own Rousing Sermon races in the 138th Kentucky Derby this weekend. Here are the five must-read stories before post time.
Here’s a look back at the five posts generating the most traffic this week. Check them out, and let us know what you think…
Moxie Java was one of the 16 companies to join the state's recent trade mission to China.
Governor C.L. “Butch” Otter is touting the results of last month’s trade mission to China. Fifteen Idaho companies and organizations joined the mission. Half were already doing business in China and went in hopes of expanding their current reach, while others went seeking a foothold in the market.
Gov. Otter says those initial meetings are key. “I think any time they can build a relationship with a company in China that sees the value of their product in that marketplace,” he says, “that’s obviously great potential for the future.”
AMET, Inc., a Rexburg company that manufactures welding control systems, estimates its exports to China will increase by $1.5 million as a result of the mission. Continue Reading
Pew Center on the States
26 states, including Idaho, are not meeting any of Pew's criteria for scope or quality of evaluation.
A recent report from Pew Center on the States lists Idaho among 26 states ‘trailing behind’ when it comes to evaluating tax incentives. That is, having a mechanism in place to take a closer look at the state-specific incentives and exemptions on a regular basis, and to evaluate if they’re doing what they were intended to do. In most cases, that’s spurring economic growth and development.
Another study published by Good Jobs First back in 2010, found Idaho is among 13 states with a failing grade on tax incentive transparency. Idaho doesn’t have a database of where tax incentives go, who gets them, and what kind of benefit (if any) a particular program has.
Both studies suggest many states aren’t where they should be and that Idaho isn’t alone. Continue Reading
Molly Messick / StateImpact Idaho
Fairfield, above, and Twin Falls were among the many communities approved for grant funding.
Gov. C.L. “Butch” Otter has signed off on more than $5.5 million in grant awards to Idaho communities.
Otter followed the guidance of the Idaho Economic Advisory Council in his decisions, approving all 18 grant proposals that the council recommended for funding.
Twin Falls will receive $500,000 in federal Community Development Block Grant dollars to upgrade its water system. That’s necessary to support the new Chobani yogurt plant.
Fairfield will also receive a half-million-dollar grant for water system improvements. The full list of grant recipients is available here. Continue Reading
Good Jobs First
Greg LeRoy founded Good Jobs First in 1998.
Good Jobs First is a non-partisan, non-profit government transparency advocacy group based in Washington, D.C. It was founded in 1998 by Greg LeRoy, who is now executive director. LeRoy has been studying tax incentive transparency for more than two decades. We recently spoke with him to learn more about what he considers ‘transparent enough,’ and what states are doing to open incentive information to the public.
Q: What is transparent enough? What should people have the right to see?
A: Our position here at Good Jobs First is that tax incentives, whether they are property tax abatements or sales tax exemptions or corporate income tax credits or other types of tax based economic development subsidies, should be equally transparent. None of it should be hidden from taxpayers view. Continue Reading
Dave Young / Flickr
There are more than 550 dairies in Idaho.
Idaho dairy farmers have been struggling with high feed costs and low milk prices for years. The Times-News reports dairymen in the Magic Valley are optimistic about expanding and new producers in the area, namely Chobani.
“Chobani, the Greek yogurt manufacturer that will soon begin production in Twin Falls, is the newest addition to the list of major Magic Valley milk buyers. Glanbia Foods, which is building a new headquarters and research facility in Twin Falls, and Jerome Cheese Co., which will expand its product line soon, are other large milk consumers. Continue Reading
Emilie Ritter Saunders / StateImpact Idaho
Idaho State Capitol in downtown Boise.
The state of Idaho will give up an estimated $845 million this year in the form of tax credits and exemptions. And only a select few at the Idaho Tax Commission know exactly where that money goes.
Idaho’s law is pretty clear, individual and business tax information is confidential. Tax returns, specifically, are confidential under federal law. But some states have set up reporting requirements for businesses to disclose which state-specific incentives they’re using (think tax credits and exemptions), and how much those are worth. Idaho isn’t one of those states.
“We’re not advocating the disclosure of tax returns,” says Greg LeRoy, the executive director of the non-partisan organization Good Jobs First. “This is about saying, if you claim a corporate income tax credit on line 39C of your Idaho tax return, it’s no different than if the state wrote you a check.” Continue Reading
Just Make It / Flickr
We’re talking this week about tax incentive and exemption transparency. So, we thought it’d be a good idea to create a simple list of what is and is not public information.
Without further ado…
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