The Biggest Industries in Idaho

The Biggest Industries in Idaho

Idaho is a state located in the northwestern region of the United States of America. It is the fourteenth largest state, as well as the thirty-ninth most populous state. Idaho also ranks seventh out of fifty in the list of the least densely populated stated in the United States. According to the USCB, also dubbed as the United States Census Bureau, Idaho’s population on July 1, 2015, was about 1,654,930. This figure represented growth in population by 1.8% from July 1, 2012, when USCB recorded 1,595,728 people in the same state. The largest city here in Boise, which is also Idaho’s capital.

The science and technology sector is the largest industry in Idaho. High-tech products are leading the way in growth in this state in which its industrial economy is increasing. The science and technology sector accounts for twenty-five percent of the state’s total revenues and more than seventy-percent of Idaho’s exports. Besides, Idaho is a critical state in terms of agriculture. For instance, it contributes to about one-third of the production of potatoes in the United States. But other industries are snowballing too in this state. For example, its healthcare industry is among the country’s best healthcare service providers. Others include food processing industries that lead to the processing of food-related raw materials.

Generally, the economy of this state blends all the industries that have led to its innovation, stability, and collaboration. Therefore, Idaho supports all kinds of businesses that attract investors from different fields. As a result, if one is interested in investing here, they are assured of a stable and collaborative economy. Some of the leading industries in Idaho include:

Manufacturing

Here, the top manufacturing good is electrical equipment. In particular5, Idaho is famous in computers and computer component manufacturing. Technology has contributed a lot to Idaho’s economy, dated as far back as the 1970s. Also, Micron Technology’s presence in Boise has boosted Idaho’s technology sector. Idaho is also known in the manufacture of goods like chemicals, lumber, as well as fabricated products. Some of the best manufacturing companies in this sector situated in Idaho include Preco Electronics, Idaho Power, and Nunhems USA, among others.

Health Care

The recession led to the significant fall of many industries all over the United States, among them in Idaho State. However, the health sector was among one of the few that survived the harsh economic condition. Health care has recorded a significant increase in revenue for the last decade. This increase was forty-six percent over the ten years, and this growth is projected to exceed thirty-six percent in years to come. From these statistics, Idaho ranks as the second largest in the increase in the health care sector. Some of the hospitals that offer healthcare services in Idaho are Boise Veterans Affairs Medical Center, Cascade Medical Center, and West Valley Medical Center, among others.

Tourism

The tourism sector in the state of Idaho contributes $3.4 billion every year as per the United States Travel Association. It has created employment opportunities for more than 26,000 people. Most of the people are employed through the beverage, food, and hospitality industries. Idaho also generates approximately $500 million every year in terms of tax revenue. There are a variety of tourist attractions in this state that range from music festivals and art. Gene Harris Jazz Festival is one of the best examples and is held during each spring in Boise. Idaho also boasts of outdoor recreations, snow skiing, and breathtaking scenic views, among others.

Agriculture

Just as stated earlier, Idaho is the United States‘ leading producer of potatoes. However, this state is not only known in potato production. There is a range of agricultural products that make this state outstanding in terms of farming activities. Idaho also is among the top producers of lamb, dairy products, seeds, livestock, and crops. More than 185 varieties of commodities are either produced or grown in this state. Despite potatoes being their primary income earner, their most valuable farm product is cattle.

Beverage and Food Processing

The backbone of Idaho’s economy is a combination of agriculture, beverage, and food processing. The second-largest sector in this state is food and beverage processing. Consequently, it helps Idaho achieve its full potential in agriculture. The ability to process its farm products ensures that the state maximizes every opportunity that improves its progress. Some of the examples of these food and beverage processing companies are Caviness Beef Packers, J. R. Simplot Co., Ballard Cheese, and Chobani, among others.

Mining

Most of the western states were created as a result of the direct effects of the mining sector. The mining sector has had a high impact on the landscape, economy, and politics of Idaho. As early as the 1800s, it has emerged as a reliable exporter of gems, precious, and semi-precious metals. Some of the valuable minerals here during this period were gold and silver.

Idaho has used this opportunity to provide the equipment, innovation, and the needed expertise to service the construction and the mining sectors all over the world. The mining sector is still of great significance in the state’s current economy. According to the Idaho Division of Financial Management, the mining industry in Idaho grew by 4% in 2010. It also added that it is projecting a consistent gain through 2014. Other valuable minerals apart from silver and gold are phosphorous, copper, zinc, molybdenum, and lead.

Conclusion

Idaho’s economy is one of the most stable among all the other states. The presence of big industries in the region brings many benefits to the people who live in Idaho. One of the most significant aspects of industries I the increased employment opportunities. Enterprises create more job opportunities, both skilled and unskilled because many units in these industries are labor-intensive. Another benefit is the generation of revenue to Idaho. Just as described earlier, industries such as tourism and agriculture generate a lot of income for the state government. Such income can then be used to improve facilities such as health and infrastructure. However, one of the leading disadvantages of industries is pollution. Many units release poisonous gases to the environment that may lead to an increase in global warming.