Idaho Economic Overview:  2008

A report released in November 2008 by the Kauffman Foundation and the Information Technology & Innovation Foundation has some interesting information about Idaho's economic transformation and competitiveness. I have included some of the highlights to focus on the positive aspects of our state's economy.

• While the national average of patents issues to companies or workers stands at 0.74, Idaho is ranked #1, by a wide margin, in the number of patents issued to companies or workers, per 1,000 workers. Idaho has 2.66 patents per 1,000 workers.  The next closest is Washington with 1.71 patents per 1,000 workers.

• Idaho has also made great moves forward when it comes to independent inventor patents, improving its national ranking from #11 in 2007 to #5 in 2008.  This measure is based on the number of independent inventor patents per 1,000 people.

• Agriculture remains a strong sector of Idaho's economy, with the state ranking #4 in online agriculture (up from #7 in 2007), which is judged as a measure of the percentage of farmers with Internet access and using computers for business.

• Idaho also ranks #12 in IPO’s (up from #34 in 2002), which is judged as a weighted measure of the number and value of initial public stock offerings of companies as a share of total worker earnings.

• Idaho ranks #13 (up from #22 in 2007), in export focus of manufacturing and services, which is judged as the value of exports per manufacturing and service worker.  

• Idaho ranks #23 (up from #28 in 2002), in the number of scientists and engineers as a percentage of the total workforce.

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