Cost Comparisons
Lower Inland Northwest costs directly impact revenue. Cost savings are available relative to employees and production.
| Value |
Inland Northwest |
Silicon Valley |
Southern California |
Puget Sound |
| Office Lease Rates |
$0.40-$2.10 |
$1.71-$4.00 |
$1.33-$3.00 |
$1.58-$2.10 |
| Industrial Lease Rates |
$0.20-$0.60 |
$0.32-$0.65 |
$0.39-$1.00 |
$0.31-$1.10 |
| Median per Capita Income |
Low-to-mid $20,000 range |
$44,926 |
$25,826 |
$29,521 |
| Median Home Price |
Under $170,000 |
$749,000 |
$716,222 |
$358,095 |
| Average Monthly Electrical Costs (1,000 kW, 200,000 kWh) |
$13,854 |
$25,890 |
$24,425 |
$11,662 |
LOWER WORKERS' COMPENSATION RATES
Worker’s compensation rates in the Inland Northwest are among the lowest in the nation. In Washington, worker’s compensation is based on hours worked. In Idaho it is calculated per $100 of payroll. Customized cost comparisons are available.
WORKERS' COMPENSATION COMPARISONS
The following scenario represents an annual workers' compensation payment comparison for a business with 66 manufacturing employees:
| SIC Code |
Idaho |
California |
| 3146 |
$47,375 |
$323,413 |
Because the state of Washington bases its workers' compensation on hours worked, the following was developed by the Small Business Survival Index 2004 for comparison purposes:
| Washington |
California |
| 1.65 |
5.23 |
Sources: Auble, Joliceur & Gentry; CB Richard Ellis; U.S. Census Bureau; Idaho Department of Commerce & Labor; Washington Office of Financial Management; Lincoln Electric System, National Electric Rate Survey; Inland Northwest Economic Alliance Research; Small Business Survival Index 2004
Photo credits—University of Idaho Research Park: page top. |
