Foster Systemic Growth
The first step to improving Idaho's economy is to make the Gem State's business climate more attractive by taking care of our existing workers, cultivating a highly skilled workforce, establishing a method to get research from the Idaho National Lab and our universities to the consumer market, and improving our statewide infrastructure.
Business Retention and Expansion
Keeping our existing businesses in Idaho is a top priority for systemic growth. We must do everything we can to assist our Idaho companies in maintaining a healthy bottom line.
Maintaining a skilled, highly trained workforce is essential for growth. The current economic climate has created real financial hardship for thousands of Idaho citizens. It has also created a significant pool of highly skilled workers who can immediately provide bottom-line value to any new or expanding business. Our first line of defense is to support those workers that have been impacted by layoffs through cross department cooperation with Labor, which provides access to unemployment insurance, job searches, opportunities for training, and retraining or vocational education. Read more about Workforce Development.
Highly skilled workers, such as engineers, are in demand from many of our Idaho companies. Existing business is increasingly high tech and Idaho has a shortage of qualified, skilled labor to fill immediate needs. The recruitment effort will be a public/private partnership. Read more about Idaho's career opportunities.
In 2007, the Kauffman Foundation ranked Idaho #6 in "Innovation Capacity," but only 38th in venture capital investment. Hence, while Idahoans are inventing and advancing innovative ideas, they are not easily taking those innovations to market.
Tech-transfer is the processes by which this intellectual property developed in a research institution is moved out of that facility, turned into a product, marketed, and monetized in the global marketplace. The transfer of these innovative ideas is a complex endeavor that depends on the cooperation of many individuals and institutions. As a part of Project 60, The Idaho Innovation Council is working easing this transition. Read more about Tech Transfer.