Idaho Survives The Economic Storm
It’s no disguise that Boise has seen tremendous growth over the course of a few years. But how has Boise fared in the midst of COVID-19? Wesley Jost, Senior Vice President, from Zions Bank shares, “We have the fastest-growing population in the US which fuels economic growth.” Jost continues to share the national population growth rate is .05% a year, while Idaho’s is at 2.1%.
Not only is Idaho the fastest-growing state in the nation, but Idaho also ranks as the lowest state in the nation for job loss over the past 12 months.
Jost shares, “After losing 58,800 jobs in the last economic crisis (2007-2010) we had gained 153,100 jobs before this crisis. During the COVID-19 crisis, we lost 83,100 jobs, 4,600 in March, and 78,500 in April. However, we have recovered 75% of those jobs, 62,600 just in the next three months (May-July), and are rapidly gaining back more.”
Idaho continues to lead the nation in economic growth, making the potato state a sure bet when it comes to real estate investing. If you or your firm are looking to invest in Idaho, we would love to have a conversation!