Idaho's Tech Economy Stats

Idaho is an energizing place to live and work. If you love beautiful country like the Sawtooth Mountains shown here, an active lifestyle, great people, and fascinating technology, this is the place for you!

A number of recent publications and reports have highlighted our innovation economy. Below is a start at compiling statistics contained in these reports. As the numbers show, Idaho presents opportunities for innovators and for those who work to promote innovation-focused economic development in the state.

These figures are useful for gauging the economic opportunities for innovation companies here; for business planning; and for advocating for government initiatives to facilitate and support our technology community. Please comment on this blog post with additional statistics (please include sources and dates). The compilation of these numbers will be helpful to many.

From the Office of Science & Technology, Idaho Department of Commerce, Idaho ranks:

#1 in Patents Per Capita
#1 in Manufacturing Investment
#3 in Energy Costs
#5 in Long-Term Employment Growth
#5 in Net Migration of Residents
#5 in Renewable Energy Potential
#6 in “Entrepreneurial Energy” (2007 Corporation For Enterprise Development; for more details of the CFED report, please click here.)
#6 in New Company Creation
#8 in Resident Home Ownership
#10 in Households With Computers

From the American Electronics Association's 2008 Cyberstates Report, Idaho ranks:

#6 in semiconductor manufacturing employment (12,100 jobs)
#9 in computer & peripheral equipment manufacturing employment (3700 jobs)
#10 in concentration of technology workers (68 people per 1000 work in the technology industry, compared with Virginia, the state with the highest concentration, at 91 per 1000)
#28 in average high technology wages ($67,200/year, and 107% of average private sector wages)
#32 in high technology payroll ($2.4 billion)
#35 in high technology employment (36,400 people out of 5.9 million nationwide)
#35 in venture capital investment ($16.2 million out of $16.9 billion nationwide)
#35 in spending on research & development ($1 billion)
#39 in number of high technology companies (1800)*

Static numbers, however, don't tell the whole story. Note the changes in the AEA statistics from 2006 to 2007:

Big boost in venture capital investment - Up 977% from a mere $1.5 million**
Flat high technology employment overall - 200 new jobs added.
Semiconductor manufacturing employment - 900 new jobs added.

[NOTES : The American Electronics Association is the nation's largest high technology trade association. *A recent study by the Idaho Department of Commerce, Idaho TechConnect, and Virginia Tech's Dr. Heike Mayer puts the number of innovation companies in Idaho at 3849 with the greatest concentration (1335) in the Boise area. **Mark Solon, a managing partner with Highway 12 Ventures in Boise, told the Idaho Statesman that the bulk of the 2007 venture investments were limited to only a few companies and that this initial growth in investment should not yet be considered a trend.]

For more on how we support innovators in all industries from agribusiness to software, please contact us at 208.939.4472 or info@technologylawgroup.com.