Otter is supportive of tax credit economic efforts
Idaho Gov. C.L. “Butch” Otter said the state’s recent economic development efforts, specifically new tax credits for businesses that create jobs, have exceeded his expectations. The state’s Tax Reimbursement Incentive program, which awards companies with payroll, income and sales tax rebates, went into law in July and has already been awarded to eight companies pledging to create 1,600 jobs. That incentive program is run by the Idaho Department of Commerce.
“Last year was a banner year for the Department of Commerce,” Otter said Jan. 8 at the Associated Press Legislative Preview.
The governor said recent data he received from the Department shows that interest in the incentives has topped projections. Idaho expected to get five or six inquiries into the incentives from July to January, but received more than 25. He said there are 33 potential TRI projects in the pipeline.