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Idaho Commerce and Labor Connections Newsletter July 2006

Visit us on the Web: http://www.cl.idaho.gov
In This Issue:

* June Unemployment Remains Unchanged at 3.5%
* Q1 Personal Income Slows as Farm Earnings Drop
* Guidelines Set for Trucking, Nursing Assistance
*

Rural Broadband Extension Grants Awarded
*

Boise Eighth on Money Magazine’s Best Places to Live List
* More Rural Cities Saw Population Growth in 2005
* Governor Awards Millions in Community Grants
* Idaho Falls Company Wins Idaho Tech Launch 3.0
* Jalisco Governor, Delegation to Celebrate Relationship
*

Calendar of Events

Quote of the Month :

" Our rapid growth rate is slowing, but it doesn’t mean our economy is not doing well. What it means in the short term is we are transitioning from a high growth rate to a more stabilized economy."
— Roger B. Madsen, Director, Idaho Commerce & Labor

The Month’s Top Stories

June Unemployment Remains Unchanged at 3.5%

Idaho’s seasonally adjusted unemployment rate was unchanged at 3.5 percent in June, continuing the historic streak of 14 straight months of unemployment rates below 4 percent. Over 20,000 more people were working than a year earlier. Nationally, the number employed increased by 2.6 million people between June 2005 and June 2006. This was a 1.8 percent increase compared to a 2.9 percent increase in Idaho. "Our rapid growth rate is slowing, but it doesn’t mean our economy is not doing well," Idaho Commerce & Labor Director Roger B. Madsen said. "What it means in the short term is we are transitioning from a high growth rate to a more stabilized economy." Long term, Madsen and Idaho Commerce & Labor analysts believe it will be late summer or early fall before the state’s future economic course can be effectively evaluated.

Q1 Personal Income Slows as Farm Earnings Drop

Personal income growth in Idaho slowed during the first three months of 2006, stymied by a decline in estimated first quarter farm earnings, according to the U.S. Bureau of Economic Analysis. The bureau reported Idaho’s personal income for January through March rose 0.5 percent from the final three months of 2005, a third of the national increase to rank 46th among the states. That growth rate, on an annualized basis, was driven by a 1.4 percent drop in projected total farm earnings. While 37 of the 50 states reported farm earnings declines, Idaho’s was the third highest behind Montana and Iowa.

Guidelines Set for Trucking, Nursing Assistance

Guidelines for a new revolving loan program to increase the number of workers in high-demand, high growth occupations have been approved by the executive committee of the Idaho Workforce Development Council. The decision cleared the way for applicants to participate in the program created during the final weeks of the 2006 legislative session as the Incumbent Worker Training Revolving Loan Fund. The training loan fund was set up as a two-year pilot focusing on training for nurses and commercial truck drivers. Under the proposed guidelines, businesses can borrow up to $50,000 a year to train nurses or truckers. The money must be repaid at 3.5 percent interest over two years if the training lasts less than six months and over four years if the training exceeds six months.

Rural Broadband Extension Grants Awarded

Governor Jim Risch has awarded $4,902,067 to four Idaho companies for extending broadband access to rural communities. "Our vision is to increase broadband service in rural Idaho," Risch said. "The intent is to encourage private-sector investment in the infrastructure necessary for increasing service delivery. Access to broadband is usually the first question asked by businesses interested in expanding into any community. Creating jobs is difficult to do in a community with no broadband." Combined with the state funded grants and the dollar-for-dollar cash match from the companies, the $9.8 million investment will finance 79 projects that will allow the companies to serve more than 50,000 potential new subscribers. For a list of the projects, click on this headline.

Boise Eighth on Money Magazine’s Best Places To Live List

Americans are flocking to places that offer big-city opportunities and amenities with a lot more green space and a lot less stress. Money Magazine’s latest issue ranks Boise eighth on that list of best places to live. To quote Money, " Boise boasts 2,700 acres of green space and trails, with the foothills of the Rocky Mountains serving as a backdrop. The downtown is stocked with boutiques and restaurants, and a three-block-long farmers’ market comes to town every Saturday in the summer. The economy is booming, and it’s the state capital, which means plenty of government jobs. Unemployment is just 3.1 percent. While Boise can feel isolated, an expanded airport now means easy access to the West Coast, though getting east is still tough." And Business Week recently identified Sandpoint as an emerging mecca for retirees. " Affluent retirees and second-home owners from the West and as far away as Louisiana have begun flocking to the town and surrounding Bonner County, to quote the magazine. "More than just a town for nature lovers, Sandpoint also offers classic car shows, art galleries, restaurants, wine tastings, and plays and movies at the historic Panida Theater, which will host the first Idaho Panhandle International Film Festival next month."

More Rural Cities Saw Population Growth in 2005

Idaho’s population growth is spreading to more rural communities as people migrate toward more affordable homes and a less hectic way of life. The Census Bureau estimated that 118 of Idaho’s 200 cities gained population from mid-2004 to mid-2005 and another 19 saw populations hold steady. Still, 63 cities lost population, but they were mostly rural communities, and the losses were comparatively small. That compared to 101 cities recording population gains from mid-2003 to mid-2004 and 13 holding steady. Eighty-six lost population. "With the help of the Rural Idaho Initiative and other economic and community development efforts, people are realizing that the quality of life and abundant natural resources that have been responsible for our population boom over the last two decades are not limited to the metropolitan areas," Idaho Commerce & Labor Director Roger B. Madsen said.

Governor Awards Millions in Community Grants

Gov. Jim Risch has awarded millions of dollars in community grants to two dozen communities in every region of Idaho since taking office in late May. "Economic development is one of our highest priorities," Risch said. "These grants combined with funds from local and private sources are critical to ensuring our rural communities enjoy the same economic prosperity Idaho’s bigger cities have seen."

Idaho Falls Company Wins Idaho Tech Launch 3.0

Optimal Solutions Software Inc. of Idaho Falls emerged as the winner among nine Idaho technology companies pitching business ventures to a panel of venture capital and angel investors at the recent Idaho TechLaunch 3.0 conference in Sun Valley. The company was awarded $10,000 for having the business judges deemed most worthy of financial consideration. Optimal Solutions Software provides a unique software system that optimizes design versions between computer aided engineering and computation fluid dynamics systems.

Jalisco Governor, Delegation to Celebrate Relationship

The governor of the Mexican state of Jalisco will lead a delegation of government officials, artisans and performers to Boise July 31 and Aug. 1. " The Jalisco delegation’s visit celebrates the 10th anniversary of a sister-state relationship that has led to significant trade and cultural exchange between Idaho and Jalisco," said Idaho Commerce & Labor Director Roger B. Madsen. Jalisco Gov. Fransicso Ramirez Acu�a will meet with Idaho Gov. Jim Risch, and members of the Mexican delegation will meet with private businesses, government officials and leaders of Idaho’s arts community during the two-day visit to strengthen economic and cultural ties that have evolved between the two states over the years.

President George W. Bush poses with Buck Knives’ C.J. Buck and his wife Heidi in the White House Rose Garden during the swearing in ceremony for former Idaho Gov. Dirk Kempthorne as Secretary of the Interior.

Calendar of Events

July 26-27: The Idaho Travel Council meets in Boise to disburse annual tourism promotion grants. The council is appointed by the governor and advises the governor on policy issues and potential legislation and provides support to Idaho’s tourism industry. Contact Cathy Bourner (208) 332-2650 x 3203 or visit http://tourism.idaho.gov for details.

Aug. 8: The Science & Technology Advisory Council meets at Templin’s Resort in Post Falls on legislative and other issues. The council is appointed by the governor and advises the governor on policy issues and infrastructure needs of the state’s technology industry. For more information contact Karen Lewis at (208) 334-2650 ext. 2101 or go to http://technology.idaho.gov.

Aug. 20-26: Sixth World Potato Congress & Farm Show takes place in Boise, hosted by t he National Potato Research and Education Foundation and its industry partners. Leaders of the worldwide potato industry will engage in a week of educational sessions, networking events, field demonstrations, new technologies and a world-class equipment exhibition. For more information go to http://www.potatofoundation.com/WPC_2006/index.html

Sept. 5-8: The National Association of State Workforce Agencies holds its 70th Annual Convention at the Boise Centre on the Grove. For more information go to http://www.workforceatm.org/ and click on Idaho NASWA 2006.
Call or e-mail Bob Fick, editor, with questions or comments: (208)-332-3570 ext. 3628 or [email protected]

"We Create Jobs, Strengthen Communities and Market Idaho."

IDAHO COMMERCE & LABOR
P.O. Box 83720, Boise, Idaho 83720-0093
Tel: 208-334-2470; Fax: 208-334-2631
Web: cl.idaho.gov

JAMES E. RISCH, GOVERNOR
Roger B. Madsen, Director

Idaho Commerce & Labor is an equal opportunity employer.
This document is available upon request in alternative formats for individuals with disabilities.
bob.fick @cl.idaho.gov • Roger B. Madsen

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