Ease of doing business
theboardiQ Economic Relevance Score, ranks States of USA based on 11 parameters - F500 Cos Representation | Trade Surplus or Deficit | GDP | Agriculture | Innovation | Manufacturing | Employment | Tax | Cost of Living | Disposable Income and Education.
Population | % of overall Population | US Overall |
|---|---|---|
2,001,619 | 0.6% | 340,110,988 |
National Ranking Index
Idaho Economic SWOT Analysis (October 2025)
This SWOT analysis focuses on key economic pillars relevant to a state's commercial health, with data contextualized to the current timeframe of late 2025.
Factor | Strengths (S) | Weaknesses (W) | Opportunities (O) | Threats (T) |
Ease of Doing Business | Favorable Tax & Regulatory Climate: Consistently ranks highly in tax foundation and economic freedom indices (e.g., top 16 in Tax Foundation's State Business Tax Climate Index). | Middling Innovation Ranking: Lower rankings in innovation-focused reports (e.g., 19th in one report), suggesting a need for more R&D investment. | Incentivize Relocation: Leverage lower cost of doing business compared to West Coast states to attract further business and talent migration (e.g., "Cost-effective to do business in Idaho than it is in California"). | Rapid Cost/Housing Inflation: Rapid population and business growth strains infrastructure and affordability, potentially eroding the low cost of living advantage that attracts companies. |
Domestic Manufacturing | High-Tech Niche & Automation Adoption: Strong foundation in specialized manufacturing, notably by companies like Micron Technology (semiconductors) and advanced adoption of automation in sectors like custom cabinetry (e.g., Greyloch). | Small Overall Manufacturing Employment: Manufacturing employment (approx. 66.7k in 2025) is a smaller portion of the total workforce compared to retail or healthcare, limiting local supply chain depth. | Federal Onshoring Initiatives: Benefit from national initiatives like the "Made in America Manufacturing" drive, especially for high-tech, defense, and food processing/agriculture equipment manufacturing. | Supply Chain Volatility: Reliance on global supply chains for specialized inputs (e.g., semiconductors, machinery parts) exposes local manufacturers to global trade policy shifts and tariffs. |
Sustainability Initiatives | Focus on Resource Conservation:Â Strong emphasis on agricultural conservation through programs like the Environmental Quality Incentives Program (EQIP), focusing on soil and water resources vital to the state's agricultural economy. | Legacy Cleanup Commitments:Â Significant long-term environmental cleanup liabilities, particularly at the Idaho National Laboratory (INL)Â site, diverting resources to waste management and risk reduction. | Green Energy Adoption:Â Capitalize on unique geographical resources for geothermal and hydropower, driving the state's energy resilience and attracting sustainable technology investment. | Water Scarcity/Climate Impact:Â Long-term threats from climate change, specifically reduced snowpack melt, impacting water storage and hydropower generation, which are critical to the state's energy and agriculture sectors. |
Balance of Trade | Exporting High-Value/Specialized Goods: Key exports include Electrical Machinery ($883M), Precious Stones & Metals ($853M), and Industrial Machinery ($472M), indicating a high-value export base. | Significant Trade Deficit with Imports: Idaho is an Importer-heavy state (IMPTOTID: $622M in July 2025), with the largest import category being Industrial Machinery ($4.7B), indicating a reliance on foreign inputs for domestic manufacturing and construction. | Expand Agricultural/Food Exports: Leverage world-renowned agricultural brands (e.g., potatoes) to increase exports of processed and specialty food products globally. | US Trade War Impact: Being reliant on trade for both high-value exports and critical imports, the state's trade balance and costs are sensitive to escalating US-China and other global tariff actions. |
Overall Summary
Idaho's economy in late 2025 is defined by strong, diversified growth driven by high-tech and population migration, but faces notable sustainability and infrastructure challenges.
The state's Strengths lie in its highly favorable business climate (low tax and regulatory burden) and its successful development of high-value, niche manufacturing (semiconductors, machinery) that is rapidly embracing automation. The continuous influx of talent and companies, fueled by the lower cost of doing business, creates a positive feedback loop for economic activity.
The primary Weaknesses are the relatively small and import-reliant nature of its overall trade sector, leading to a substantial trade deficit, and its lower performance in general innovation/R&D metrics.
The most significant Opportunities involve leveraging the shift toward domestic onshoring for advanced manufacturing and technology, and aggressively developing its green energy infrastructure to secure water and power in the long term.
The chief Threats are the erosion of its affordability advantage due to rapid growth-induced inflation, and the long-term environmental and water security risks inherent in its mountain west geography. Mitigating these risks is critical to maintaining its current economic momentum.
1 Fortune 500 representation
The map represents number of Fortune 500 companies present in each State
Clicking on table contents will take you to the source data
Top Companies |
|---|
Micron; Albertsons |
2 Balance of Trade
The map represents Trade Surplus / Deficit in Millions USD of each State in YTD 2025
In Millions USD - 2025 YTD
Imports in Millions USD | US Imports 2025 YTD | % of US Imports |
|---|---|---|
$3,103 | $1,224,182 | 0.25% |
5 Agriculture
The map represents State Receipts of all commodities for each State in 2024 in USD 1000s
Agriculture Overall Rank | State receipts for all commodities ($1000) | Share of US receipts for all commodities |
|---|---|---|
19 | 10,878,901 | 2.1 |
9 Education
The map represents Education Rankings for each State