O-Sense
As has been featured in this publication and
a variety of new outlets in the past several months, Idaho’s economy is back to growing
at a fast pace following a tough recession and recovery.
We have seen the highest job growth in the nation, with a statewide unemployment rate at 3.8 percent, well below the U.S. average of 4.7 percent. Our state has the 10th fastest growing population in the country and our overall economic growth is in the top five for states.
Despite Idaho’s positive trajectory, as the old saying goes, “success is never final.” Idaho must continue to diversify its economy and work on creating opportunities, particularly in our rural communities.
Examples of this diversification prevail across the state. In northern Idaho, a fast-growing aerospace sector continues to expand the overall value of its products. A few months back, I had the opportunity to tour xCraft in Coeur d’Alene. This modern company, led by young tech entrepreneurs and bright minds, is designing Unmanned Aerial Vehicles (UAV or drones) and developing the software to fly them.
In Canyon County and the Magic Valley, food processing and research and development facilities for companies like Materne, Clif Bar, Glanbia and Chobani create additional value to our agricultural products while creating living wage careers.
I have heard many times while traveling the state that for many Idaho businesses the key concern right now is finding skilled workers. I have heard that this is holding them back from growing and expanding, and taking on new projects within their companies.
I have said it time and time again, and I will continue to say it, we must invest in education and do it the smartest and most effective way possible. It is our constitutional and moral obligation.
I am proud to tell people that Idaho’s education spending increased 7.5 percent, with a 15 percent increase the past two years. The money will be used to raise teachers’ salaries, reward educator innovation and excellence and integrate more technology in the classroom. The Legislature also provided further support to early education by ensuring all children before third grade “learn to read,” so they can “read to learn” for the rest of their lives.
I led a Senate Resolution that received support from my legislative colleagues to support the State Board of Education’s goal that 60 percent of Idahoans between the ages of 24 to 35 have a higher education degree or certificate by 2020. I will be the first to admit that this is an incredibly audacious goal, but it provides an important target for policymakers in determining where to invest the next available dollar in public education.
By pursuing policies that grow the skills of our workforce, we will allow entrepreneurs to do what they do best— create better-paying careers and expanded opportunities. We are allowing our children and grandchildren who left Idaho, the opportunity to return to better paying and more job opportunities, particularly to our rural communities where this is incredibly important.
Idaho will invariably face headwinds nationally and internationally. The federal debt continues to grow unsustainably. This week, a study from the American Action Forum found that the Obama Administration has issued 44 economically significant regulations since January. Each of these regulations has a projected cost impact of $100 million— totaling a staggering $85 billion in 2016 alone!
Internationally, an economic slowdown in China and a falling Canadian Dollar are already affecting Idaho agricultural exports.
I believe if Idaho remains committed to building a highly-skilled workforce, we’ll be well-positioned to grow careers and incomes, no matter the external environment in the future.
In the coming weeks, I will be speaking at several high school graduations across Idaho. My message to these young adults will be my sincere belief that the American dream is alive and well in Idaho.
Whether these graduates remain in Idaho or move outside the state to work and attend school, it must be our goal to create opportunities so our state is the best choice for our citizens now and into the future.
