Where can you work in Boise, Idaho? And what drives the Boise economy? It’s not just potatoes!
https://www.youtube.com/watch?v=esuiUc26osQ
If you’re thinking of moving to Boise, Idaho, you may be wondering where you will work and what drives the Boise economy?
We all know Idaho is famous for growing potatoes, and agriculture is still a big part of Idaho’s economy- in fact, agriculture and farming is still the biggest industry in all of Idaho! But not in the Treasure Valley, or the city of Boise. With the population of Boise, Idaho being around 250,000, and the population of the Treasure Valley around 700,000 where is everyone working?
Let’s make it simple and get to it.
Top Ten Employers in the Boise area:
- St. Luke’s Health Care System
- Micron
- St. Al’s Health Care System
- Albertsons Headquarters
- Simplot (the king of potatoes)
- Hewlett Packard
- IdaCorp (Idaho Power)
- Wells Fargo
- Blue Cross of Idaho
- CitiCorp
And there is the new Amazon warehouse that was built in Nampa, Idaho, which estimates they will have up to 2000 employees.
If you’d like to work retail, the largest retail employers in Boise are:
- Walmart
- McDonalds
- Costco (and there is a new Costco coming to Meridian, Idaho!)
Let’s take a look at the main sectors of industry in Boise, Idaho. These statistics are from the Idaho Department of Labor, and they are for all of Southwest Idaho.
Major (non-farm) Sectors in Industry:
- Health Care and Social Services
- Retail
- Manufacturing
- Accommodation and Food
- Local Government
- Admin and Support and Waste Management and Remediation – all lumped into one. Anyone know why the department of labor lumped these groups together in one? I have no idea.
- Construction (It’s everywhere!)
- Professional, Scientific, and Technical Services
- Wholesale Trade
- State Government
And, just in case you were wondering, the very last on the list of industry sectors for Southwest Idaho is mining.
So it’s true, Boise doesn’t have a huge high-tech economy like many larger cities in the west. But, where Idaho really shines is in it’s can-do, positive, hard working, if-there’s-not-a-job-I-want-then-I-will-create-it attitude. Boise’s economy is largely based on small businesses.
In fact, 97.6% of all businesses in Idaho are small businesses!
They employ more than half the people in the state. And, more than half of start-ups in Idaho last more than 5 years. These are awesome statistics for small business owners, and also why Idaho has been voted in several sources as one of the top “Small Business Friendly States”! So, if you move to Boise and they don’t have a job you want, think of it as a great opportunity for you to start your own business!
What about the great numbers of people moving to Boise, Idaho right now? Are they moving here for jobs? No, they are not. They are moving here because they are so dissatisfied with their current home states, that they are coming to find a better way of life in Boise. So what are they doing to earn an income?
Here is what I am hearing from many new people that I, and other realtors in the area, are speaking with:
- People moving to Boise, Idaho are working from home and keeping the same job from their previous state.
- People moving to Boise, Idaho are about 5 years away from retirement. They are keeping their current job, and then commuting between their previous state and the Boise, Idaho area until they can retire.
- People moving to Boise, Idaho are keeping their job in their previous state, and going to commute until they can either find a new job in Boise or create a job in Boise.
You may be wondering, are people really keeping their previous jobs and commuting from other states for work?
Yes. That is what is happening!
That is evidence of just how motivated people are right now to create a better life in a place that will be better overall for them and/or their families.
Huge sacrifices are being made. And I admire each and every person who is following in the steps of all of our ancestors who made huge sacrifices in the past to make a better future.
But, did you see the pattern in where they are working? It’s not at jobs in Idaho. So, what is really driving our economy right now is salaries from other states, which are typically much higher than salaries in Boise, Idaho. It will be interesting to see what effect this has in the long run, and if people get tired of commuting and create their own job, or create a business here in Idaho. Or maybe they will be able to secure a job at an Idaho company eventually. Most work from home employees will most likely just keep their jobs and continue to work from home.
People are still moving here for a specific Idaho job, but it’s not the majority. The unemployment rate in Idaho was at an all time low of 2.5%. Then…well, you know what happened…and in April, Idaho ended up with an 11.5% unemployment rate. That is actually a few percentage points below the national average halfway through 2020. But in September of 2021, the Boise unemployment rate was around 2.2% again, according to national economic data.
For now, our housing market in particular, is being driven by out-of-state jobs and incomes.
So, what will you do when you move to Boise? Work from home? Keep your old job and commute if needed? Find a job in Boise first before you move here? Be willing to make great sacrifices to move here? Only coming if you can find an easier way? Lots to think about, but the choice is yours.
And no matter what you choose, Boise will be waiting to welcome you!
Sources for statistics:
https://www.labor.idaho.gov/dnn/
https://www.bls.gov/regions/west/id_boisecity_msa.htm
