 | |
| Agency overview | |
|---|---|
| Jurisdiction | Government of Idaho |
| Agency executive |
|
| Website | http://www.commerce.idaho.gov/ |
The Idaho Department of Commerce is the state-level economic development agency for the State of Idaho. It utilizes resources at the state level to improve the state's economic growth by issuing public grants, tax credits, and tax exemptions. [1]
The department consists of five divisions: marketing; tourism development; international business; commercial innovation; and economic development.
The International Business Division's goal is to identify prospects for Idaho products and services in international markets and help companies capitalize on these opportunities by offering export/import counseling, market research, coordination of trade missions and trade shows as well as incoming buying delegations. The Port of Lewiston was formed in 1958 by the voters of Nez Perce County. In accordance with Idaho Code 70–1101, the Port oversees harbor operations, terminal facilities, international trade, and industrial and economic development. [2] Idaho supports full-time offices in China, Taiwan and Mexico. Trade office representatives are citizens of these countries and contract employees of Idaho. There are several services provided by the International Trade Offices including:
The Tourism Division builds the economy by promoting Idaho as a visitor destination on a national and international level. The division uses strategic marketing and public relations to create awareness of Idaho's attractions and foster sustainable growth. The division also supports local non-profit and regional tourism development organizations through a competitive marketing grant program. Workshops, training, blogs, co-op marketing opportunities and assistance with marketing and public relations efforts are available to all tourism suppliers in Idaho. The $1.3 billion tourism industry plays a vital part in Idaho's economy by providing over 41,600 direct jobs which generate almost $500 million in local, state, and federal tax revenues. [3]
The Tourism Division hosts the Idaho Conference on Recreation and Tourism in early May each year. The conference brings together tourism industry members from the private and public sectors with experts in the areas of marketing/promotion, social networking, public relations, technology and public land management for an educational exchange.
Idaho's diverse economy holds opportunities for a wide variety of businesses.
Idaho is a perfect testing ground for renewable energy technologies, and already alternative energy manufacturing companies are moving in to tap Idaho's business climate. Idaho is home to many companies and university research institutions focused on additional research areas such as fuel cells, low-power batteries, electric car technologies, kinetic energy capture, biomass, and new alternative fuels. [4]
Idaho has a specialized focus in these technology platforms: Agricultural/Biological Sciences, Power & Energy, Software Technology, Communications Technology, Digital Imaging & Sensor Technology, and New Materials & Nanotechnology. Idaho is home to one of the world's largest and only U.S. - based memory chip firms, Micron Technology, Inc, and is the center of Hewlett-Packard Company's highly profitable Imaging and Printing Group, birthplace of HP's laser-jet printer, and one of the firm's largest worldwide facilities.
Abundant recreational opportunities make Idaho a potential market for any business in the Recreational Technology industry. From the emerald green hillsides, timbered mountains and pristine lakes of the panhandle, to the jagged peaks of central Idaho, all the way down to the Snake River Basin with its wide open vistas and irrigated farm lands, the Gem State can provide companies with the right environment to help their businesses thrive. In addition, Idaho's diverse landscape is a prime research ground for companies to test their products in the environments where they would be used.
Idaho acts as a primarily leisure-travel state. Building Idaho's economy by increasing visitor expenditures throughout the state is the goal of Idaho Department of Commerce's Tourism Development Division. The division's activities are funded by a two percent lodging tax, paid by travelers and collected by the state's hotel, motel and private campground owners. Tax collections have grown to over $9 million annually. Forty-five percent of the funds are used for statewide programs targeted to international and domestic consumers, tour operators, travel agents, travel journalists, and film industry marketing. Another forty-five percent is distributed to non-profit local and regional tourism development organizations through the Idaho Regional Travel and Convention Grant Program. The remaining ten percent is used for administration of the division. According to the U.S. Travel Association, Idaho's $1.3 billion tourism industry employs over 41,600 Idahoans and generated over $411 million in local, state, and federal tax revenues. [5]
The economy of Taiwan is a highly developed free-market economy. Taiwan is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few generations. This economic growth has been described as the Taiwan Economic Miracle. It is the 8th largest in Asia and 20th-largest in the world by purchasing power parity, allowing Taiwan to be included in the advanced economies group by the International Monetary Fund. It is gauged in the high-income economies group by the World Bank. Taiwan is one of the most technologically advanced computer microchip and high-tech electronics industries makers in the world.
The United States Department of Commerce (DOC) is an executive department of the U.S. federal government concerned with creating the conditions for economic growth and opportunity. Among its tasks are gathering economic and demographic data for business and government decision making, and helping to set industrial standards. Its main purpose is to create jobs, promote economic growth, encourage sustainable development and block harmful trade practices of other nations. It is headed by the Secretary of Commerce, who reports directly to the President of the United States and is a member of the president's Cabinet. The Department of Commerce is headquartered in the Herbert C. Hoover Building in Washington, D.C.
The International Trade Administration (ITA) is an agency in the United States Department of Commerce that promotes United States exports of nonagricultural U.S. services and goods.
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyers is an importer. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights.
The Ministry of International Trade and Industry was a ministry of the Government of Japan from 1949 to 2001. The MITI was one of the most powerful government agencies in Japan and, at the height of its influence, effectively ran much of Japanese industrial policy, funding research and directing investment. In 2001, MITI was merged with other agencies during the Central Government Reform to form the newly created Ministry of Economy, Trade and Industry (METI).
The Australian Trade and Investment Commission, or Austrade, is the Australian Government's trade, investment and education promotion agency which was also given responsibility for tourism policy, programs and research from 2013. Austrade was established under the Australian Trade Commission Act 1985. It is a non-corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013, and a statutory agency under the Public Service Act 1999. Austrade is part of the Foreign Affairs and Trade portfolio.
In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place. In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. The greater the selection of a good is in the market, the lower prices for the products typically are, compared to what the price would be if there was no competition (monopoly) or little competition (oligopoly).
Foreign direct investment in Iran (FDI) has been hindered by unfavorable or complex operating requirements and by international sanctions, although in the early 2000s the Iranian government liberalized investment regulations. Iran ranks 62nd in the World Economic Forum's 2011 analysis of the global competitiveness of 142 countries. In 2010, Iran ranked sixth globally in attracting foreign investments.
The Ministry of Commerce (MOC) is the Burmese government agency plays a vital role in the transformation process of the implementation of a market-oriented economic system. Its headquarters is located at Building 3 and 52, Nay Pyi Taw, in Myanmar.
Trade is a key factor of the economy of China. In the three decades following the dump of the Communist Chinese state in 1949, China's trade institutions at first developed into a partially modern but somewhat inefficient system. The drive to modernize the economy that began in 1978 required a sharp acceleration in commodity flows and greatly improved efficiency in economic transactions. In the ensuing years economic reforms were adopted by the government to develop a socialist market economy. This type of economy combined central planning with market mechanisms. The changes resulted in the decentralization and expansion of domestic and foreign trade institutions, as well as a greatly enlarged role for free market in the distribution of goods, and a prominent role for foreign trade and investment in economic development.
The Georgia Department of Economic Development (GDEcD) is a department of the state of Georgia, United States. The GDEcD is responsible for managing resources to attract new business investments to Georgia, expand Georgia's existing industries and businesses, locate new markets for Georgian products, and promote and fund entertainment projects produced in the state.
The economy of Belize is a small, essentially private enterprise economy that is based primarily on agriculture, tourism, and services. The cultivation of newly discovered oil in the town of Spanish Lookout has presented new prospects and problems for this developing nation. Belize's primary exports are citrus, sugar, and bananas. Belize's trade deficit has been growing, mostly as a result of low export prices for sugar and bananas.
The Zimbabwe National Chamber of Commerce (The Chamber) is a private sector voluntary organization established in 1894 for The Chamber is established for the purpose of developing, promoting, and lobbying for its members and the local business community.
Established in 1993, the Investment and Development Agency of Latvia (LIAA) acts under the Ministry of Economics of the Republic of Latvia.
Los Angeles County Economic Development Corporation (LAEDC) is a public-benefit nonprofit corporation established in 1981 by the Los Angeles County Board of Supervisors. Its mission is “Reinventing our economy to collaboratively advance growth and prosperity for all.” The LAEDC was originally formed to facilitate Los Angeles County's economy with programs to improve and stimulate economic development to ameliorate conditions of poverty, community tensions, and social and economic disparities.
The economy of the Western Cape in South Africa is dominated by the city of Cape Town, which accounted for 72% of the Western Cape's economic activity in 2016. The single largest contributor to the region's economy is the financial and business services sector, followed by manufacturing. Close to 30% of the gross regional product comes from foreign trade with agricultural products and wine dominating exports. High-tech industries, international call centres, fashion design, advertising and TV production are niche industries rapidly gaining in importance.
A ministry of trade and industry, ministry of commerce, ministry of commerce and industry or variations is a ministry that is concerned with a nation's trade, industry and commerce.
Enterprise Florida, Inc. (EFI) is a public–private partnership between Florida’s business and government leaders and is the principal economic development organization for the state of Florida. EFI’s mission is to expand and diversify the state’s economy through job creation. In pursuit of its mission, EFI works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses. Enterprise Florida does not disclose who its donors are.
British Columbia (B.C.) is the third largest Canadian province by population and fourth largest provincial economy. Like other provinces in the Canadian federation, B.C. consists of both private and public institutions. However, as Canada's westernmost province, located between the Pacific Ocean and the Rocky Mountains, B.C. has unique economic characteristics that distinguish it from much of the rest of Canada.
