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Economic Development Data for Boise

Boise Population

218,978 people live within the city limits

Approximately 325,794 employees reside within 45-minute drive

Median Age, 2011: 34.7

Area: 64.0 sq. mi

Elevation: 2512 ft. above sea level

Average household income, 2011, est.: $89,886
Median household income, 2011, est.: $64,433
Average home price, 2011: $164,900
Per capita income, 2011: $37,430
Cost of living index, 2011: 94.0

Educated Workforce

Boise School District

  • 94.9% high school graduation rate

Boise State University

  • In 2011-2012 Boise State conferred 4,378 degrees, including 196 associate, 175 certificate 3,330 baccalaureate, 664 master's and 13 doctorate degrees
  • Boise State is the largest university in Idaho with 22,678 students
  • 203 academic programs are offered in the colleges of Arts and Sciences, Business and Economics, Education, Engineering, Graduate Studies, Health Sciences, and Social Sciences and Public Affairs
  • Employs 2,147 benfit-eligible and 1,122 temporary non-benefit people

 

  Undergraduate Enrollment for 2011 - 2012
  Communication - 860
  Psychology - 822
  Criminal Justice - 759
  Biological Sciences - 759
  Health Science Studies - 657
  Nursing - 651
  General Business - 637
  Mechanical and Biomedical Engineering - 576
  Secondary Education (various subjects)- 569
  English - 521
  Graduate Enrollment for 2011 - 2012
  Educational Technology - 474
  Social Work - 197
  Business Administration - 183
  Instructional and Performance Technology - 173
  Public Policy and Administration -173

 

University of Idaho – Boise

The University of Idaho Boise is a graduate, research, and professional development center and is part of the larger University of Idaho Land Grant system based in Moscow, Idaho.

  • In 2011- 2012 the University of Idaho Boise conferred over 120 academic degrees and certificates, including 1 baccalaureate, 72 master's, 12 specialist and 8 doctorate degrees, and 27 Juris Doctor degrees
  • The University of Idaho Boise annually serves over 1200 academic students and over 1300 professionals in non-credit development programs.
  • The University of Idaho Boise offers over 40 graduate degrees, academic certificates, and professional development programs.
  • In the Boise Center proper, the University of Idaho employs 130 faculty, staff, and researchers with another 17 Extension faculty and staff in the Extension Office in Boise. Under the UI Boise umbrella, there are approximately an additional 40 University of Idaho Extension faculty, staff, and researchers that work in the Southern Idaho region.
    • Focus areas are:
      Internationally-recognized research scientists and facilities, primarily in water, river management, and ecology
      Graduate degrees in Architecture, Education, Engineering, Law, Natural Resources, and Environmental Science
      Community outreach in Agriculture, Energy, Youth Development, and Community Sustainability and Design
      Collaborative partnerships in Medical Education (WWAMI), Energy Studies (CAES), TechHelp, TRiO Educational Opportunity, and K-12 Science and Technology Education (i-STEM)

College of Western Idaho - Regional Community College

  • Opened January 2008

Labor Market Information

Workforce Trends

Economy

Market Access

Freeways – I-84 provides quick access to downtown Boise, surrounding cities and airport facilities

Rail – Boise City owns 18.2 miles of the Boise Cut-off, extending rail access into industrially-zoned
areas near the airport and south of the city

BOI – Boise Airport

  • Less than 10 minutes from downtown Boise
  • Less than 1 hr. 30 minutes by air to Seattle, Portland, Bay Area, Reno, Salt Lake City
  • Less than 2 hr. 30 minutes by air to Denver, Los Angles, Phoenix
  • 5 major airlines, with direct flights to several major cities
 

Low Cost of Business

Energy

  • Second lowest in energy costs in the western states
  • Hydropower is dominant source of electricity in the region
  • Much of downtown Boise is heated by geothermal energy

Taxes

  • Corporate income tax rate 7.6
  • Individual income tax is graduated from 1.6 to 7.8%
  • Average property tax rate is 1.9% (one of the lowest in the US)
  • Retail sales are taxed at 6%
  • Unemployment taxes

Development Project Permitting

  • On average, less than 5 days for small- and medium-sized projects
  • On average, under 4 weeks for major projects

Project Management

  • The city has implemented a project management program for certain qualifying projects in which a specialist is assigned to the project to help the company smoothly navigate the permitting process.

Commitment to the Environment

  • The new City Hall West will likely attain LEED-silver certification, the third newly opened branch library is LEED-gold
  • The City substantially improved its residential curb side recycling program to increase number of participants and decrease the amount of waste going to the county landfill
  • The City sponsors the Idaho Green Expo, a two-day exposition that provides attendees with valuable information about reducing their carbon footprint
  • The City owns farmland on which it grows switchgrass that is sold for biomass fuels
  • Boise has the largest municipal geothermal system in the country, and are expanding it across the Boise River to heat most of the Boise State Campus


Boise Facts

Area: 64.0 sq. mi
Elevation: 2512 feet above sea level
Sunny Days: 210

Average summer high temp: 90.6 F
Average winter low temp: 36 F
Annual precipitation: 12.11

Amenities

Parks

  • 137 parks
  • 22.5 miles of greenbelt pathways

Trails

  • 125 miles of trail in the foothills are available for mountain biking and hiking

Open Space

  • 2400 acres of open space

Recreation:

  • Bogus Basin Mountain Recreation is only 16.5 miles from downtown Boise, featuring 2600 acres of downhill skiing and 35 km of Nordic trails in the winter, and a disc golf course and hiking and biking trails in the spring, summer and fall


Downtown

Parking

Business Climate

  • Largest dynamic, prosperous, vibrant urban center within a 300-mile radius
  • Center of government, business, culture and entertainment for over 460,000 people
  • Employs 29,959 people
  • Home to more than 700 businesses that range from major employers to the entrepreneur
  • Business incubators focus on entrepreneurship and innovation in high-tech
  • Home to over 300 retail and service businesses – 81% locally owned, 101 restaurants – 76% locally owned
  • Home to Boise State University; 22,678 students
  • The technology sector contributes more to Idaho’s gross economy than agriculture, timber and mining combined

Pedestrian & Bicycle Counts

Recent Development

  • 265 new residential units completed since 2007
  • 356,235 of new office square footage since 2005
  • 183,869 of new retail square footage since 2005
  • Idaho’s first LEED Platinum office building – Banner Bank Building
  • Renovated 112-room luxury boutique hotel and an ultra-modern remodeled 1960s motel
  • Mercy Housing's 52 one-bedroom apartments for low-income seniors 2011
  • River Park Place - Whole Foods and Walgreens 2012
  • Concordia Law School 2012

Residential

  • 3,974 residents live in downtown Boise
  • 2,761 housing units
  • 2,251 multi-family units

Office and Retail

  • Downtown in 2013 has approximately 288,625 SF of direct vacant A, B and C office and 96,357 sublease space
  • Total inventory is 3,701,536 SF - 20% of the total market
  • Class A vacancy is 10% with 383,891 SF inventory
  • Lower vacancy rates than the overall Boise Valley
  • Average full service asking rents in 2012 were:
    • Class A – 19.83
    • Class B – 16.12
    • Class C – 11.75
    • Overall – 17.45
  • Current retail vacancy rate downtown is 5%
  • Total downtown retail inventory is 751,589 SF

      National Retailers
      Loft
      Anthropologie
      Chico's
      Helly Hansen
      Jos A Bank
      Office Depot
      The North Face
      Title Nine
      Urban Outfitters
      White House - Black Market
      lululemon athletica
      Go Lite
      Tom James Co
       
      National or Regional Restaurants
      Old Chicago
      Bonefish Grill
      PF Changs China Bistro
      Old Spaghetti Factory
      Ben & Jerry's
      Costa Vida
      Jimmy Johns Gourmet Sandwiches
      Pita Pit
      10 Barrel Brewing Co. (coming in April 2013)
      Blimpies
      Thomas Hammer
      Proto's Pizza
      Lucky Fins (coming in June)
      Five Guys Burgers and Fries
      Flatbread Neapolitan Pizzeria
      Caffe Capri
      Caffe D'Arte
      The Melting Pot
      The Matador
      Wiseguy Pizza Pie
      Subway


Visitors & Tourism

Arts & Entertainment

 

Other local and regional Economic Development information:

Indicators Northwest - regional data

The Watercooler - downtown business incubator

City of Boise

City of Boise Economic Development

Boise Valley Prospector

Boise Valley Economic Development Partnership (BVEP)
Boise Metro Chamber of Commerce

Idaho Department of Commerce
Idaho Department of Labor

Downtown Boise Association (DBA) - Business Improvement District
Boise Convention and Visitors Bureau (BCVB)
Boise City Convention Center

Boise City Department of Arts & History