Just how important is it to support Idaho-owned businesses?

When I was Director of the Department of Commerce for the State of Idaho (1998-2002), a primary responsibility of this position was to promote Idaho products. The sale of Idaho products helped our farmers, manufacturers, merchants and other businesses – but most importantly it created jobs with good incomes for our citizens. They also helped the State of Idaho generate tax revenues needed to fund our governmental services.

But, now that I’m back in the private sector, there isn’t a day that goes by where I don’t “drill” a little deeper into this “Buy Idaho” concept and think about how important it is to support Idaho owned  businesses.  These businesses (like Fisher’s) for the most part keep their profits in Idaho for reinvestment and the creation of new jobs. Non-Idaho owned businesses (operating in Idaho), take their profits back to their home company and Idaho never realizes the benefits that could accrue from those dollars being reinvested in Idaho. 

So…..when you purchase products and services, stop and think where the few cents of profit out of every dollar will end up – if you’re buying from an Idaho owned business the reinvestment of those profits might just be enough to provide a job for someone in your family.

Edit: Emile Loza and Rosemary Regner also recently wrote on this topic in an article in the Starting Up section of the Idaho Statesman.  Read the article here.