Economy
Idaho Falls serves as a regional hub for health care, travel and business in eastern Idaho.
The community's economy was mostly agriculturally focused until the opening of the National Reactor Testing Station in the desert west of Idaho Falls in 1949. The city subsequently became largely dependent on high-income jobs from the Idaho National Laboratory (INL), known locally simply as "The Site." The laboratory made several cutbacks in 1993. Since then the town has added call centers, a growing retail, entertainment, and restaurant sector, and a regional medical center.
Idaho Falls was named by Business Week as one of the 2010 List of "Best Places to Raise Kids". In addition, Forbes.com selected Idaho Falls as one of the "2010 Best Small Places for Business & Careers". Also Money.CNN.com included Idaho Falls as one of their "Top 100 Cities in 2010".
Idaho Falls has become a regional business hub. It hosts the headquarters of the United Potato Growers of Idaho and District 7 of the Idaho Department of Health and Welfare. It is also the home to several small to medium sized national corporations such as North Wind, Inc., Melaleuca, Inc and Press-A-Print.
The median home price in Idaho Falls was $224,800 in January 2007.
Idaho Falls, Idaho / U.S. avg:
- Area population 122,995 / 647,500
- Median home price $224,800 / $235,000
- Cost-of-living index 99.8 / 100.0
- Unemployment rate 2.7% / 4.6%
- Job growth—5 years 18.84% / 4.90%
- Job growth—1 year 2.74% / 1.66%
- Median household income $47,719 / $46,326
Read more about this topic: Idaho Falls, Idaho
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
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—Ralph Waldo Emerson (1803–1882)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)