Living broke in the Treasure Valley of the Gem State.
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Articles by Benton Smith
Idaho is aging faster than the U.S.
The Idaho Department on Labor reported last year that Idaho was aging faster than the rest of the country. Since then, the disparity has widened. When the Idaho Department of Labor wrote its report last year, Idaho had outpaced the country in the percentage growth of senior citizens 24 percent to 18 percent since 2010.
Idaho Kombucha launches crowdfunding campaign
The Idaho fermented tea brewery Idaho Kombucha has launched a Kickstarter campaign to help it purchase new production equipment. Terri and Mike Landa opened Idaho Kombucha in 2014 after sampling kombucha that a visitor brought from Seattle. The couple enjoyed the fermented tea so much they taught themselves how to brew it and eventually decided to open a business selling it. The Landas started selling their tea to friends and then to customers at the farmers market in Boise.
Garden City project highlights businesses and arts
Garden City project highlights businesses and arts By: Benton Alexander Smith July 12, 2017 0 City officials from Garden City have put up nine signs along the Greenbelt to direct attention to local businesses and the arts. The Garden City Urban Renewal Agency used a grant from COMPASS and money from the Idaho Wine Commission and Riverside Hotel for the signs advertising Garden City's artisan community along the Greenbelt. The first sign, located ... 5:00 am Wed, July 12, 2017 Idaho Business Review
New York, San Francisco investors place $5 million in Boise insurance platform
New York, San Francisco investors place $5 million in Boise insurance platform By: Benton Alexander Smith July 11, 2017 0 Boise-based Covr Financial has been hiring developers and support staff since receiving $5 million in funding from investors on both coasts. Todd Ruplinger, owner of National Brokerage, founded Covr Financial in 2013 under the name 1 Click Coverage.
U.S. entrepreneurs are older, more ethnically diverse
Many of the factors that have affected startup growth since the Great Recession are resulting in an older and more diverse demographic among business owners than in previous decades. Every year, the Kauffman Foundation publishes a series of reports detailing startup activity around the country.
Department of Insurance requests feedback on licensing
Department of Insurance requests feedback on licensing By: Benton Alexander Smith July 5, 2017 0 The Idaho Department of Insurance is seeking feedback on its licensing and renewal process. The move is part of a process that the state started in May when Lt. Gov. Brad Little ordered Idaho state departments and self-governing agencies to review their licensing requirements and recommend changes that would simplify the process. The order requires all ... 5:10 am Wed, July 5, 2017 Idaho Business Review
New business incubator opens in Boise
New business incubator opens in Boise By: Benton Alexander Smith July 5, 2017 0 Jonni Armani, a photographer and actor, and his wife Shelly West, a fashion designer and author of 17 romance novels, moved to Boise from Portland last year because they thought it would be a better atmosphere for their three children. Once in Boise, the two tried to work from different locations around the Treasure Valley, but didn't ... 5:00 am Wed, July 5, 2017 Idaho Business Review
Washington manufacturer opens manufacturing facility in Hayden
Washington manufacturer opens manufacturing facility in Hayden By: Benton Alexander Smith July 3, 2017 0 Two economic development organizations in northern Idaho used an available manufacturing space and a state tax credit to attract a Washington company to Hayden. Jon Smalley, CEO of SmaK Plastics, said he became interested in the area after the Panhandle Area Council approached him about an open facility with manufacturing equipment already installed. "A lot of things happened that ...
Forest fires and winter weather are raising Idaho’s homeowners insurance rates
Homeowners insurance rates have risen about 15 percent in Idaho since 2012 due to forest fires and winter storms, according to a new report by the personal finance website ValuePenguin. In a report on Idaho, ValuePenguin research analyst Craig Casazza found that homeowners insurance rates in Idaho rose an average of 14.7 percent between 2012 and 2017 ...
Ag earnings drive Idaho’s personal income growth this year
Ag earnings drive Idaho’s personal income growth this year By: Benton Alexander Smith June 29, 2017 0 Personal income grew faster in Idaho during the first quarter of 2017 than in any other state. The U.S. Bureau of Economic Analysis released a report for the first quarter of 2017 on June 27 that showed Idaho's personal income growth rate of 1.6 percent outpaced the national average, 1 percent. Texas, Louisiana, Michigan and Florida had the next-fastest rate, ...
Idaho improves manufacturing grade, but trails neighbors in several key measures
Idaho continues to improve the health of its manufacturing industries, but it still trails its neighbors in several key measures, according to a new report by Ball State University. Ball State University’s Center for Business and Economic Research publishes an annual report about the manufacturing industry in each state. It grades states on measures including global reach, product diversity, productivity, and human capital.
Tax experts: Companies aren’t claiming valuable tax credits
Tax experts: Companies aren’t claiming valuable tax credits By: Benton Alexander Smith June 28, 2017 0 Congress broadened the requirements for the country's Research and Development Tax Credit in 2015 to help small companies and startups save money on their payroll taxes and help pay for their projects, but most new tech companies in Idaho didn't take advantage of it this year, according to a local tax expert. Smith Miller, CEO of Strategic Tax ... 5:00 am Wed, June 28, 2017 Idaho Business Review
Study: Businesses are relying more on mobile payments, and worrying less about security
Study: Businesses are relying more on mobile payments, and worrying less about security Business owners are increasingly relying on revenue from mobile payments, but many aren’t taking the steps they need to to protect that revenue, according to a new survey. Kount, an electronic commerce security firm, conducts an annual survey on how business owners view mobile payments and fraud. For its 2017 report, Kount surveyed 800 merchants in 14 countries and more than 30 industries.
Silicon Valley company Jelli plans for most of its staff to be in Idaho
Silicon Valley company Jelli plans for most of its staff to be in Idaho By: Benton Alexander Smith June 26, 2017 0 The owners of a radio advertising company in San Mateo, Calif. are planning to house most of their in the company's new Boise office. The Idaho Department of Commerce is giving the technology company Jelli a tax reimbursement incentive, or TRI, of 20 percent for the next eight years. Jelli is a software company that helps broadcasters ... 5:00 am Mon, June 26, 2017 Idaho Business Review
Recent bank closures don’t faze Idaho bankers
Recent bank closures don’t faze Idaho bankers By: Benton Alexander Smith June 23, 2017 0 The United States is on track to see its most costly year of bank failures since 2012, but Idaho bankers aren't worried. Two U.S. banks with at least $1 billion in assets have failed this year for the first time since 2012. In total, six banks totaling 152 branches, $6.3 billion in assets and $5 billion in ... 5:00 am Fri, June 23, 2017 Idaho Business Review
Idaho to fall further behind its neighbors on minimum wage
Idaho to fall further behind its neighbors on minimum wage By: Benton Alexander Smith June 21, 2017 0 Businesses in Lewiston, Moscow, Post Falls and Coeur d'Alene have felt pressure from the neighboring state of Washington since it passed a law to incrementally increase its minimum wage to $13.50 by 2020. Soon Idaho businesses will feel similar pressure from other directions, according to the Idaho Department of Labor. Four of Idaho's six neighboring states will raise ...
Department of Finance seeks input on licensing
The Idaho Department of Finance is seeking comment from everyone who provides financial services as part of its review of its licensing requirements. The Department of Finance regulates individual mortgage loan originators, security sales agents, and investment advisers. These professionals must meet federal requirements.
Boise app company looks for partnership with hotels
Boise app company looks for partnership with hotels By: Benton Alexander Smith June 20, 2017 0 RelEVENT, an app that recommends events to users based on their preferences, is preparing to partner with hotels seeking to replace or augment their concierge services. "We have been having conversations with hotels across the region, working on taking our app and building a plugin for their website," said CEO Stacey Donohue, who founded RelEVENT with ... 5:00 am Tue, June 20, 2017 Idaho Business Review
Texting while driving is costing us all
Auto insurance rates for most Americans have increased over the last five years because of texting, talking, and other device-related distractions, and Idaho is no exception. Accidents caused by distracted drivers and rising medical costs are forcing insurers to adjust their premiums in order to stay profitable, said Craig Casazza, senior research analyst at the personal finance ...
Survey shows increasingly complex world of mobile payments
New online commerce options are making life easier for thieves and more difficult for retailers to protect themselves, according to a new survey about mobile payment. Kount, an electronic commerce security firm, conducts an annual survey on market changes. For its 2017 report, Kount surveyed 800 merchants in 14 countries and more than 30 industries.
Amazon to acquire Whole Foods for $13.7 billion
Amazon to acquire Whole Foods for $13.7 billion By: Benton Alexander Smith June 16, 2017 0 Amazon will acquire the organic market chain Whole Foods Market for about $13.7 billion. The deal, announced June 16, is expected to be completed later this year if it receives support from Whole Foods' shareholders and regulatory approval. If the deal is approved, Amazon will become owners of the Austin, Texas-based company, but Whole Foods will continue ... 11:32 am Fri, June 16, 2017 Idaho Business Review
Economist: economic trends could signal next recession
By: Benton Alexander Smith June 13, 2017 The U.S. economy has been expanding since 2009, but emerging workforce and production trends could signal the next recession. Steve Scranton, chief investment officer and economist at Washington Trust Bank, spoke at the Treasure Valley CFO Forum June 7 about the country’s GDP growth and when the next recession might begin. GDP is calculated by looking at how the labor ...
Taskforce has draft recommendations on workforce development
Taskforce has draft recommendations on workforce development By: Benton Alexander Smith June 9, 2017 0 If it doesn't invest in better workforce development, Idaho might not see its economic growth continue, the governor warned at a Chamber event June 7. Idaho's labor force has increased from 760,000 workers in 2009 to 825,000 workers now. Unemployment hit 9.2 percent that year, and it's down to 3.5 percent today. But there are so few ... 5:00 am Fri, June 9, 2017 Idaho Business Review
Idaho unemployment rate continues to drop
Idaho unemployment rate continues to drop By: Benton Alexander Smith June 9, 2017 0 The tightening labor market nationally and in Idaho has forced companies to delay projects, increase wages and move to markets with more workers available. In 2009, there were 6.6 unemployed Americans for every job opening, but there are now only 1.3, according to Robert Spendlove, economic and policy officer at Zions Bank. Idaho unemployment was at 8 ... 5:00 am Fri, June 9, 2017 Idaho Business Review
Rexburg company will help HR departments screen candidates’ language skills
A Rexburg company has built a software program it says can help HR departments test applicants' foreign language skills. Two Brigham Young University graduates set out to create a business that pairs companies and schools in Brazil and China that are seeking to teach English to employees with college students willing to teach it.
North Carolina company acquires WhiteCloud Analytics
North Carolina company acquires WhiteCloud Analytics By: Benton Alexander Smith June 7, 2017 0 The Boise healthcare analytics company WhiteCloud Analytics has been acquired by the North Carolina-based Relias Learning. WhiteCloud Analytics analyzes patient data to help clients such as St. Luke's and Delta Dental identify best practices. The company was founded by CEO Bob Lokken and President Jeff Rutherford in 2009. The acquisition was announced June 6. Relias Learning is ...
Where there’s a will, there’s a whey
Where there’s a will, there’s a whey By: Benton Alexander Smith June 7, 2017 0 A food entrepreneur is selling a whey-based ice cream called Killer Whey at 11 retail locations around the Treasure Valley, and is expanding into Albertsons in July. Louis Armstrong founded Killer Whey in June 2016 using equipment leased from a former employer. He sells his product, which uses a sugar substitute called xylitol and whey protein ... 5:00 am Wed, June 7, 2017 Idaho Business Review
SYKES is hiring hundreds of employees for its Boise facility
SYKES is hiring hundreds of employees for its Boise facility SYKES is hiring several customer service representatives for its Boise facility after picking up a new client working in online travel services. The Tampa-based company wouldn’t say who the new client is, but said it will add a few hundred customer service representatives to its staff of about 1,200 in Boise.
Idaho seeks to bring logic, order to occupational licensing
Idaho's move to review all of its occupational licensing requirements over the next year will affect thousands of workers. Lt. Gov. Brad Little last month ordered Idaho state departments and self-governing agencies to review their licensing requirements and recommend changes to that would simplify the process.
Report: New business startup rate has reached record lows
Americans are moving around the country less and are starting new businesses at the lowest rate since 1977, according to the Economic Innovation Group. EIG is a bipartisan research and advocacy organization founded by the co-founder of Napster and former president of Facebook, Sean Parker.
Wine commission: Idaho needs more grapes
Wine commission: Idaho needs more grapes By: Benton Alexander Smith May 31, 2017 0 The number of Idaho wineries has increased more than five times over since 2000. Idaho now has 52 wineries, up from 11 in 2002. But it still needs more acreage dedicated to grapes, said Brenna Christison, communications and finance manager with the Idaho Wine Commission. Idaho's wine production pales in comparison to that in neighboring states like Washington, ... 5:00 am Wed, May 31, 2017 Idaho Business Review
Grilling plank manufacturer expands in northern Idaho through TRI
Grilling plank manufacturer expands in northern Idaho through TRI By: Benton Alexander Smith May 30, 2017 0 The Idaho Department of Commerce awarded the specialty wood product manufacturer Wildwood Grilling a tax incentive to help it expand in Bonner County. The department gave Wildwood Grilling of Sandpoint a tax reimbursement incentive valued at $47,000. Wildwood will use the incentive to create 21 new positions with an average annual wage of $35,700. A tax reimbursement incentive, ...
Boise-built product could protect skiers from avalanches
A Boise company is seeking funding to build a product it says will help save the lives of skiers. Realtime Adventure Data, or RAD, creates and sells ski poles designed to help backcountry skiers avoid avalanches. Each pole has a sensor system that profiles the composition of the snow beneath the user’s feet and sends that data to the user’s smartphone. Drew Eldred, CEO at RAD, said existing avalanche safety standards focus more now on response than prevent.
Investors: mine your community for wisdom, referrals
Investors: mine your community for wisdom, referrals By: Benton Alexander Smith May 26, 2017 0 Personal introductions can make all the difference to early-stage entrepreneurs who hope to succeed with investors. “I can not stress enough how much a referral means,” said Jerry Henley, CEO of Rubicon Capital. Henley was one of several investors tapped for advice at the Idaho Technology Council's third annual Capital Connect Conference May 24. The ... 8:27 am Fri, May 26, 2017 Idaho Business Review
Skateboard and apparel distributor chooses Boise over LA
Despite spending the last decade in what many consider to be the best market for a skateboarding company, Kelly Williams knew there was only one city where he wanted to locate his skateboard and apparel distribution agency - Boise. Williams moved to Boise last summer to raise money and build the lifestyle brand company Permanent that he ...
Investment report: 2016 saw more deals, less money
Investment report: 2016 saw more deals, less money By: Benton Alexander Smith May 24, 2017 0 Less money flowed around Idaho overall in 2016, but there were significantly more investment deals in 2016 than 2015, according to the Deal Flow Report released May 24 at the Idaho Technology Council's Capital Connect Conference. The Deal Flow Report, now in its third year, is an annual report commissioned by the Idaho Technology Council that ... 11:12 am Wed, May 24, 2017 Idaho Business Review
Department of Labor has $1 million for businesses
Department of Labor has $1 million for businesses By: Benton Alexander Smith May 22, 2017 0 The Idaho Department of Labor has $1 million for companies that need help training employees as the labor market tightens. Idaho’s unemployment rate dropped to 3.5 percent in March and has been below 4 percent for more than a year. Meanwhile, Idaho has been among the nation’s leaders in employment growth. Idaho outpaced the national growth ... 5:00 am Mon, May 22, 2017 Idaho Business Review
Student will use pitch contest winnings to launch nonprofit
Student will use pitch contest winnings to launch nonprofit By: Benton Alexander Smith May 19, 2017 0 A University of Idaho student who won more than $30,000 from regional entrepreneurial challenges is launching her nonprofit in West Africa this summer. After researching the barriers that stop young women around the world from getting an education, Payton McGriff, a marketing and architecture student at U of I, wondered if there was a way to help. Women account for ...
Lawyer: many companies bypass employment contracts
Lawyer: many companies bypass employment contracts By: Benton Alexander Smith May 19, 2017 0 Lawsuits between businesses and the former employees competing with them illustrate the importance of employment contracts. But most businesses don't know anything about these contracts, according to John Ashby, partner at Hawley Troxell. The No. 1 question that employment law lawyers receive is whether such contracts are needed, Ashby said. “In Idaho you are not required to have an ...
Report: A third of cyberattacks target health care industry
Health care is the most common target of cybercriminals, and its most vulnerable spot is its employees, according to a new report by the national law firm BakerHostetler. While businesses of all types and sizes are vulnerable, health care organizations like the Idaho Hospital Association are attacked many times every second.
New Eastern Idaho community college expects 4,000 students by its sixth year
More than 70 percent of Bonneville County voters approved a community college taxing district May 16, despite opposition from critics who said the college would limit job opportunities for high school students and would be a redundant addition to the education network already in place. Eastern Idaho Technical College in Idaho Falls will now become a community college with classes beginning August 21, said Rick Aman, president of EITC.
Trailhead launches apprentice program for software developers
Trailhead launches apprentice program for software developers By: Benton Alexander Smith May 16, 2017 Comments Off on Trailhead launches apprentice program for software developers Trailhead, the co-working space in downtown Boise, will use a $200,000 grant from the Idaho STEM Action Center to create an apprenticeship program for software developers.
Panel: Be smart about finding customers
One of the most obvious needs for a new business - identifying and finding customers - can be the hardest to accomplish. A panel of Treasure Valley business leaders discussed how they each went about finding early customers during the University of Idaho's Business Essentials Summit April 18.
Goodwell will soon monitor the treatment of 2,000 employees
Goodwell will soon monitor the treatment of 2,000 employees By: Benton Alexander Smith May 16, 2017 0 Two months after opening its certification process, a Boise coalition focused on improving labor practices around the world has about 20 companies seeking certification. Goodwell held a celebration at Trailhead May 11 to announce its first seven certified organizations, including the city of Boise, Flynner Design and Build and Murie Design Group. The coalition has several more companies ...
SBDC: A cyberattack could put you out of business
SBDC: A cyberattack could put you out of business By: Benton Alexander Smith May 10, 2017 0 Small businesses are increasingly targeted for cyberattacks, and these attacks can be costly. Yet most small business owners don't have a plan in place to respond, according to the Idaho Small Business Development Center. The center has launched a new website to help businesses protect themselves from cyberattacks. Laura Mathews, project manager at Idaho SBDC, said most ...
Religious missions don’t fully account for Idaho’s low go-on rate
The rate at which Idaho high schoolers go straight on to college has been low for decades. Idaho ranks 47th in the nation for its post-secondary enrollment. Some of that can be attributed to the fact that many graduates who are members of the The Church of Jesus Christ of Latter-day Saints go on religious missions ...
Contractor? Employee? More than 500 Idaho employers got this wrong last year
Idaho employers had to reclassify 2,489 independent contractors as employees and pay $240,000 in fines in 2016 after the Idaho Department of Labor found they were misclassifying workers. Several of...
Boise is accepting grant proposals for art projects
The City of Boise has about $150,000 to give to artists and businesses through a grant program and is now accepting applications. Boise dedicates 1 percent of its General Fund to the Department of Arts and History. The department disperses much of that money to local artists through grants every year. The city awards grants to projects that directly benefit Boise residents by expanding Boise’s cultural base.
Economist: Perception on the economy is diverging from the economic data
Economist: Perception on the economy is diverging from the economic data By: Benton Alexander Smith May 5, 2017 0 There is a growing divergence between the public's idea of how the economy is doing, and what the numbers say, according to a report by Zions Bank. Robert Spendlove, economic and public policy officer at Zions Bank, said soft economic indicators such as consumer confidence reports and growth in the stock market have been soaring since November. ...
Report: Idaho women are paid 74 percent of what men make
Report: Idaho women are paid 74 percent of what men make By: Benton Alexander Smith May 4, 2017 0 The pay gap between women and men nationally has been reduced by half since 1960, but working women in Idaho still receive 74 cents for every dollar earned by men, according to a new report. Women in Idaho would still have to work an extra three months each year to earn what men earn. That 74 ... 4:45 am Thu, May 4, 2017 Idaho Business Review
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