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How Does Idaho Compare to Other States?

How Does Idaho Compare to Other States?

April 3, 2024 Last Edit: July 26, 2024

Latest report card gave state a fair grade, but other studies only middling ones

Last month, WalletHub, a personal finance company, ranked Idaho only 19th in its Most & Least Innovative States (2024) report. But how business friendly is it in other categories?

A look at other media and think-tank producers of similar studies shows Idaho a little ahead of the pack. So, what does it mean? “When you have two studies ranking us third and fourth best and two others 26th and 19th, the question becomes what variables are they using, not what’s wrong with Idaho,” said Suzanne Budge, Idaho state director for the National Federation of Independent Business (NFIB). “All eight studies showing us doing fairly well to very well, but I would encourage our state policymakers to examine them for any improvements we can make.”

Below is a sample of where Idaho ranks in other reports:

NFIB does not rank states. Instead, it ranks environments and conditions for small businesses as a whole across the nation. Its most prestigious report, called the gold standard measurement of the Main Street economy, is the monthly Small Business Economic Trends (SBET) report, also known as the Optimism Index.

“The SBET is one of the few archival data sets on small businesses, particularly when research questions address business operations rather than opinions,” according to this one-page history of SBET. “Today, it’s the largest, longest-running data set on small business economic conditions available.”

All of NFIB’s research, such as the SBET, monthly Jobs Report, quadrennial Small Business Problems & Priorities, and other studies can be found at https://www.nfib.com/foundations/research-center/

 

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