An airline is looking into coming to Idaho to set up a maintenance facility in Boise that would create 100 new jobs with salaries of close to $50,000 a year, Idaho’s state commerce chief says, in part because of a new tax incentive law. The firm, which will be named on Tuesday when the state’s Economic Advisory Council considers its application, is the first to apply for the state’s new economic reimbursement incentive – a new tax break that will refund up to 30 percent of a firm’s state corporate income, sales and payroll taxes for up to 15 years if they create specified numbers of new Idaho jobs.
“I think people will be pleased when they hear the name of the company,” said Idaho Commerce Director Jeff Sayer. “We’ll be announcing whether or not the proposal is approved. And then there may be a subsequent announcement later, we’re hoping, in this particular case, where the company will be announcing they’ve actually chosen Idaho.”
The new tax incentive law just took effect July 1. It offers the tax breaks to firms that create at least 20 new jobs in rural areas or at least 50 in urban areas, if the jobs pay at least the county average wage. It’s available both to existing Idaho businesses and to out-of-state firms; Sayer said the first applicant is coming from out of state. “We’re among the final states that they’re looking at, and they’ve asked us to fast-track this particular process so that they can make their decision and get going,” he said. “If they choose Boise, it’ll be a huge win for our aerospace industry sector and the airport and Boise all at the same time, so we’re hopeful.” You can read my full story here at spokesman.com.