The Stow Company specializes in providing intelligent storage solutions such as closet organizers, garage storage systems, pantry organizers, wall beds, laundry cabinets and much more. The company announced plans to expand to the West, building a 550,000 square-foot state-of-the-art manufacturing facility in Nampa, Idaho.
The new facility will allow the company to serve its customers better and is expected to create about 236 new jobs with a capital expenditure of over $140 million. Brian Schroeder, Plant Director in Nampa, said Idaho’s pro-business record and labor availability helped the company decide on Nampa.
“The ability to service our customers better and the additional manufacturing capacity that was needed are some of the bigger impacts for us with our Idaho operations,” Schroeder said. “The Tax Reimbursement Incentive (TRI) was one of the important incentive programs that were offered that aided in our decision to locate here in Idaho. Combined with the other incentives, it provided an enticing package for us.”
The Stow Company was approved for a TRI award by EAC in March 2021.
The Idaho Tax Reimbursement Incentive (TRI) is a post-performance tool that enables qualifying companies to receive a refundable tax credit of up to 30% of a company’s state income, payroll and sales taxes for up to 15 years.
The incentive is available to any company, in any industry. Most importantly, it is available to both existing Idaho businesses looking to expand and businesses new to Idaho.
Learn more about the TRI program here.