Idaho Economy Earns High Marks Washington Gets So-So Grades In ‘95 Development Report Card
Big wage increases, great living conditions and lots of new businesses helped put Idaho near the top of the class in a popular annual economic survey.
Idaho scored two A’s and a B in the Corporation for Economic Development’s 1995 Development Report Card. Only Colorado, which aced the examination with three A’s, scored better.
The report rates states’ economic performance in 1994 by tracking 50 different socio-economic indexes.
The corporation compiles the rankings in three categories: economic performance, business vitality and development capacity.
Idaho improved its scores from one A and two C’s last year.
Washington state, on the other hand, looks like more of an average student in the eyes of the Washington, D.C.-based non-profit economic analysis group.
Washington notched a D for economic performance because of high unemployment and poor wage growth, the report said. But the state improved from a C to a B in business vitality, in part because it leads the nation in number of new companies. And it continued to hold its A grade in development capacity.
The report lauded Idaho’s newcompany creation, second only to Washington in the nation. Strong wage growth also boosted the state’s grade.
State officials welcomed the grade, while noting it doesn’t assure future success.
“We’ve got to keep being a proactive force in our state’s economy,” said Idaho Commerce Department Director Jim Hawkins from Boise. “We can’t allow the words apathy or complacency to be in our words or our actions.”
Hawkins attributes the Idaho economy’s good reviews to a pro-business environment that has been created without handing out unneeded incentives.
“Business comes here for all the right reasons,” he said.
But he does have some concerns about the state’s economy cooling off. “If we get straight A’s, I guess then I’ll be a believer.”
Idaho led the nation in air quality and short-term employment growth, the report said. Idaho’s tax system was judged to be the second-best in the country, while Washington’s was deemed the fourth-worst.
The report lauds the strength of the Mountain West states compared to the rest of the country.
“The region has the best physical infrastructure, second-best human resources and second-best technologies base - critical ingredients for future growth,” said Brian Dabson, the corporation’s president.
xxxx ECONOMIC REPORT CARD Washington received one of the lowest grades from the Corporation for Enterprise for economic performance, while Idaho was at the top of the class. This chart shows 1995 grades for economic performance for selected Western states. The group also issued grades in two other categories.
Idaho………A Washington….D California….D Colorado……A Oregon……..B Montana…….B Source: Corp. for Enterprise Development