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#STATEOF208: Idaho sees growth in diverse industries, according to a new report

The Capital Connection conference released the 2018 Idaho Deal Flow Report Wednesday.
Posted: 9:41 PM, May 08, 2019
Updated: 2019-05-09 00:28:22-04

BOISE, Idaho — Idaho business leaders gathered today for the fifth annual Capital Connect conference to discuss just how much our state has evolved through the lens of business deals. Those savvy business leaders left with new insights, including just how diverse Idaho's business sectors have recently become.

It's no secret that the tech industry is leading the pack lately.

"Companies like Cradlepoint, Kount, Truckstop.com, Clearwater Analytics, TSheets," said Jay Larsen, President, Idaho Technology Council.

At last year's conference examining 2017 activity, Technology took 60 percent of the pie of Idaho's business deals.

"But we've got all these other thriving industries," said Alison Johnson, Corporate Partner and report co-chair, Holland and Hart.

in fact, in the latest report released Wednesday, Tech dropped to just 24 percent of all business deal dollars.

"This year Micron was quieter than normal on deals. And they usually take up a big amount of that deal volume," said Johnson.

Consumer/Retail and Materials/Resources both grew, however, and now sit at 20 percent.

"lt just shows the diversity of companies that are growing and thriving here in Idaho," said Johnson.

Of those thriving consumer companies who presented at the conference: Red Aspen. You might remember them from our #MadeInIdaho series.

"Success is the result of small efforts day in and day out, and the support available to small consumer-based businesses in Idaho offers an encouraging outlook for the future of the startup economy in our great state," said Jessie McKinney, CEO, Red Aspen.

"I think the message is that you can follow your passion into any industry," said Johnson.

So while they said technology is a driving force in every sector these days, they said the key for aspiring Idaho entrepreneurs is not to put limits on yourself.

"They're getting funding to be able to grow technology platforms," said Larsen.

"It's not just about can you code can you program and are you an engineer, there are other possibilities out there," said Johnson.

The Idaho Deal Flow Report was presented by Holland and Hart and Alturas Capital.

The Idaho Technology Council's mission is to help companies in Idaho start, grow, and thrive. To learn how you can be a member, go to idahotechcouncil.org.