Officials tell council tech corridor key to future of Eastern Idaho

POCATELLO – Economic development specialists told the City Council Thursday the best thing it could do for the area’s economy is continue to support the Eastern Idaho Technology Corridor.

By Sean Ellis – Journal Writer

The corridor, which includes an area along Interstate 15 from Rexburg to the Utah border, has a population of more than 278,000 people and a workforce of 143,000.

"The vision is to foster and promote an advanced technological environment for the region and to enhance the economic well-being of our people," Jim Bowman, president and CEO of the Eastern Idaho Economic Development Council, told council members during a study session.

Bannock Development Corp. Executive Director Ray Burstedt said that goal would best be accomplished by working together as a region. Economic development officials in Idaho Falls and Pocatello have worked closely together for four years to establish the corridor.

"What’s good for Rexburg is good for Blackfoot is good for Idaho Falls is good for Pocatello," Bowman said. "So if we land deals anywhere up and down the valley, that’s going to have a benefit and economic impact for the whole region."

"We’re convinced the regional concept is what’s going to drive economic development and growth in eastern Idaho," Burstedt said. "If a company expands in Idaho Falls, it’s going to help Pocatello … and vice versa."

While economic development officials will continue to focus on other business opportunities, Bowman said, pursuing high-technology companies is the area’s best bet, given its highly educated workforce.

According to Bowman, of the 143,000 people in the area’s workforce, 15 percent have bachelor degrees, 6 percent have some post-graduate studies and 13 percent have a graduate professional degree.

He said 21 percent of the job growth in the area in the last five years has been in the technology sector and 15 percent of the workforce is employed in the hi-tech arena.

"We do have a very large concentration of Ph.D.s in this area and a lot of brain power in eastern Idaho," Burstedt said.

The average hi-tech worker in Idaho makes more than $44,000, which is 78 percent greater than the average Idaho worker, Bowman said, and almost one of every 10 private sector workers in Idaho is employed in science, technology and innovation.

"If we can get jobs that are paying in excess of $44,000, that’s going to have a tremendous economic impact on our communities…." Bowman said.

Already, more than 30 percent of Idaho’s economy – in excess of $11 billion – is in high technology, he said, and the output growth of the 1,600 hi-tech companies in Idaho grows about 6 percent annually.

"Even though the hi-tech industry has taken a hit and continues to flounder in some ways, clearly the future will be in science and technology and innovation," Bowman said.

Burstedt said the technology corridor already has a large number of technological assets, including the presence of four universities, the Idaho National Engineering and Environmental Laboratory, excellent entrepreneurial support organizations, established businesses such as AMI Semiconductor and promising new ones such as TetriDyn Solutions Inc. and Positron Systems Inc.

"The concentration of innovation gives eastern Idaho a distinct competitive advantage …" he said.

Sean Ellis covers local government and business for the Journal. He can be reached at 239-6001 or [email protected].

http://www.journalnet.com/articles/2003/02/15/news/local/news09.txt