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Idaho

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Ada, Adams, Bannock, Bear Lake, Benewah, Bingham, Blaine, Boise, Bonner, Bonneville, Boundary, Butte, Camas, Canyon, Caribou, Cassia, Clark, Clearwater, Custer, Elmore, Franklin, Fremont, Gem, Gooding, Idaho, Jefferson, Jerome, Kootenai, Latah, Lemhi, Lewis, Lincoln, Madison, Minidoka, Nez Perce, Oneida, Owyhee, Payette, Power, Shoshone, Teton, Twin Falls, Valley, Washington

State Economy

States Without Income Tax

The United States is one of the largest and most technologically developed countries in the world. The Gross Domestic Product of the country in terms of purchasing power parity of the country has reached at $12.36 trillion (2005 est.).

Idaho Economy

Agriculture and Industry in Idaho

Idaho economy is a set of human and social activities and institutions related to the production, distribution, exchange and consumption of agriculture and industry goods and services. The balance between Idaho various economic sectors differs largely between various regions and other states in the US.

Until recently, agriculture was the most important industry in Idaho; recently it has been surpassed by manufacturing. The state is probably best known for its potatoes, and Idaho is the nation's leading producer of spuds. However, Idaho also produces hay, wheat, peas, beans, and sugar beets, and supports cattle and dairy herds.

Manufacturing has become more important to the state's economy. Idaho's major products are electronic and computer equipment, processed foods, lumber, and chemicals. Mining, once a major source of income for the state, is still economically important, with production of phosphates, gold, silver, molybdenum, antimony, lead and zinc leading.

For many, Idaho is best known for its vacation spots. Sun Valley, one of the nation's leading year-round tourist attractions is the state's most important resort. The nation's largest elk herds draw hunters from all over the world, and Idaho's many streams and lakes provide fishing, camping and boating sites.

Idaho Agriculture and Industry

Idaho Agriculture:

Cattle, potatoes, dairy products, wheat, sugar beets, barley.

Idaho Industry:

Food processing, lumber and wood products, machinery, chemical products, paper products, silver and other mining, tourism.

The state's gross product for 2004 was $43.6 billion. The Per Capita Income for 2004 was $26,881.

Idaho is an important agricultural state, producing nearly one third of the potatoes grown in the United States. Other important agricultural products are beans, lentils, sugar beets, cattle, dairy products, wheat, and barley.

Important industries in Idaho are food processing, lumber and wood products, machinery, chemical products, paper products, electronics manufacturing, silver and other mining, and tourism. The Idaho National Laboratory (INL), a government lab for nuclear energy research, is also an important part of the eastern Idaho economy.

State Economies

A central feature of the US economy is a reliance on private decision-making ("economic freedom") in economic decision-making. This is enhanced by relatively low levels of regulation, taxation, and government involvement, as well as a court system that generally protects property rights and enforces contracts.

The US is rich in mineral resources and fertile farm soil. It also has extensive coastlines on the Atlantic and Pacific Oceans, as well as on the Gulf of Mexico. Rivers flow from far within the continent, and the Great Lakes along the US border with Canada - provide shipping access. These waterways have helped shape the country's economic growth over the years and helped bind America's 50 individual states together in a single economic unit.