Economic Development Data for Boise

Boise Population

Approximately 143,000 employees reside in city limits

Approximately 325,794 employees reside within 45-minute drive

Median Age, 2009: 34.5

Area: 64.0 sq. mi

Elevation: 2512 ft above sea level

Average household income, 2009, est.: $71,714
Median household income, 2009, est.: $57,050
Average home price, 2009: $169,900
Per capita income, 2009: $30,280
Cost of living index, 2009: 93.2

Educated Workforce

Boise State University

In 2009 BSU conferred 3,479 degrees, including 2,137 baccalaureate, 514 master's and 11 doctorate degrees
BSU is the largest university in Idaho with nearly 19,000 students
170 academic programs are offered in the colleges of arts and sciences, business and economics, education, engineering, graduate studies, health sciences, and social sciences and public affairs
Employs approximately 2,000 people

Top Undergraduate Majors for 2009
Engineering - 801
Psychology - 756
Elementary Education - 726
Pre-nursing - 720
Accountancy - 617
Criminal Justice - 594
General business - 584
Biology -568
English - 563

University of Idaho – Boise

The University of Idaho Boise is a graduate, research and professional development center
In 2009 the University of Idaho Boise conferred 97 degrees, including 9 baccalaureate, 54 master's 23 specialist and 11 doctorate degrees
The University of Idaho Boise annually serves over 1200 students
30 graduate degree or executive certificate programs
120 faculty and researchers
Focus areas are:
- Water, Natural Resources and the Environment
- Community Sustainability and Design
- Organizational Development and Leadership
- The Professions of Law, Medicine, Architecture, Engineering and Education

College of Western Idaho - Regional Community College

Opened January 2008

Market Access

Freeways – I-84 provides quick access to downtown Boise, surrounding cities and airport facilities

Rail – City intends to activate rail going past airport and into industrial-zoned properties by end of 2009

BOI – Boise Airport

Less than 10 minutes from downtown Boise
Less than 1 hr, 30 minutes by air to Seattle, Portland, Bay Area, Reno, Salt Lake City
Less than 2 hr, 30 minutes by air to Denver, Los Angles, Phoenix
9 major airlines, with direct flights to several major cities

Low Cost of Business

Energy

Second lowest in energy costs in the western states
Hydropower is dominant source of electricity in the region
Much of downtown Boise is heated by geothermal energy

Taxes

Corporate income tax rate 7.6
Individual income tax is graduated from 1.6 to 7.8%
Average property tax rate is 1.9% (one of the lowest in the US)
Retail sales are taxed at 6%
Unemployment taxes

Development Project Permitting

On average, less than 5 days for small- and medium-sized projects
On average, under 4 weeks for major projects

Project Management

The city has implemented a project management program for certain qualifying projects in which a specialist is assigned to the project to help the company smoothly navigate the permitting process.

Commitment to the Environment

The new City Hall West will likely attain LEED-silver certification, the third newly opened branch library is LEED-gold
The City substantially improved its residential curbside recycling program to increase number of participants and decrease the amount of waste going to the county landfill
The City sponsors the Idaho Green Expo, a two-day exposition that provides attendees with valuable information about reducing their carbon footprint
The City owns farmland on which it grows switchgrass that is sold for biomass fuels
Boise has the largest municipal geothermal system in the country, and are expanding it across the Boise River to heat most of the Boise State Campus

Boise Facts

Area: 64.0 sq. mi
Elevation: 2512 feet above sea level
Sunny Days: 210

Average summer high temp: 90.6 F
Average winter low temp: 36 F
Annual precipitation: 12.11

Amenities

Parks

137 parks
22.5 miles of greenbelt pathways

Trails

125 miles of trail in the foothills are available for mountain biking and hiking

Recreation:

Bogus Basin Mountain Recreation is only 16.5 miles from downtown Boise, featuring 2600 acres of downhill skiing and 35 km of Nordic trails in the winter, and a disc golf course and hiking and biking trails in the spring, summer and fall

Downtown

Parking

First Hour Free in the Central Parking District
6 covered parking garage locations near shopping and restaurants
Over 1.5 million annual parking visits
Monthly parking rates $100
Surface lot parking available
All Available parking

Business Climate

Largest dynamic, prosperous, vibrant urban center within a 300-mile radius
Center of government, business, culture and entertainment for over 460,000 people
Employs 29,916 people
Home to more than 700 businesses that range from major employers to the entrepreneur
Business incubators focus on entrepreneurship and innovation in high-tech
Home to over 300 retail and service businesses – 81% locally owned, 90 restaurants – 76% locally owned
Home to Boise State University; nearly 19,000students
The technology sector contributes more to Idaho’s gross economy than agriculture, timber and mining combined

Pedestrian & Bicycle Counts

Map - pedestrian & bicycle count locations
Pedestrian & bicycle count numbers only
Pedestrian & bicycle count bar graphs only: August 2009, October 2009, December 2009, May 2010
Full Reports: August 2009, October 2009, December 2009 , May 2010

Recent Development

265 new residential units completed since 2007
356,235 of new office square footage since 2005
183,869 of new retail square footage since 2005
Idaho’s first LEED Platinum office building – Banner Bank Building
Renovated 112-room luxury boutique hotel and an ultra-modern remodeled 1960s motel

Residential

4,294 residents live in downtown Boise
2,372 live in multi-family units

Office and Retail

Downtown Boise had the second highest sub market negative absorption rate in the Boise Valley in 2009 with -83,465SF
25% of office inventory of 10,000+ SF is in downtown
Lower vacancy rates than the overall Boise Valley 12% to 18%
Average full service asking rents in 2009 were:
- Class A – 19.20
- Class B – 17.49
- Class C – 13.08
- Overall – 17.33
12% retail vacancy rate downtown
10 national retailers downtown

National Retailers
Ann Taylor
Anthropologie
Chico’s
Helly Hansen
Jos A. Bank
Office Depot
The North Face
Title Nine
Urban Outfitters
White House – Black Market

Visitors & Tourism

85,000-foot convention center hosts close to 250,000 event participants each year
5,000-seat event center is home to 3 professional sports teams and hosts latest touring concert artists
1,469 downtown hotel rooms
20 golf courses within 20 miles of downtown
45 minutes from Bogus Basin Ski Resort
45 minutes from whitewater rafting on the Payette River

Quotes

"We continue to be amazed at what a fashionable city Boise is becoming, and we clink our wineglasses to toast what is sure to be a faboulous conclusion to a fantastic weekend." Buddy Levy, Horizon Air Magazine, March 2010

"Blame it on the heat. And the Trey McIntyre Project. We are now Boiseans." A Texas couple was coldly systematic about choosing the right place to retire. February 5, 2010

"I don't think it's overstatement to suggest that our town represents everything that remains great about America: potential, youth, natural beauty, quality of life. When we visit friends who live elsewhere, they ask, 'Boise? Really? Why do you live there?' But when friends visit us, they say, 'Oh, wow, now I see.'" Anthony Doerr, Smithsonian magazine, April 2009.

"The range of dining options was another surprise about this multi layered city." Andrew Nelson.
National Geographic Traveler, March 2006

"In Washington people ask where you work or went to school," say Adrienne Swain smith, 36, who moved to Boise with her husband and two daughters from the East Coast a year ago. "Here it's 'what type of dog do you have?' or 'where did you get your bike?'"
CNNMoney. com Best Places to Live 2006

"Boise is a vibrant market, and its downtown is one of the exceptional urban cores in America for its energy, safety, great employments base and university," says BoDo developer Mark rivers, a principal with Brix & Co.
Horizon Air Magazine, April 2005

"Downtown Boise has been following a pattern common to cities as they revitalize their cores: offices by day, dining and nightlife after hours and on weekends," says Michael Gifford, executive director of Idaho Associated General Contractors. "The market has figured out there’s a demand for these cool old buildings to be used for brew pubs, boutiques and housing."
Horizon Air Magazine, April 2005