February 15, 2005 Annual Report Shows Idaho Small Business Development Center Making Major Contributions To State's Economy

Editor’s note: To help show the work that the Idaho SBDC is doing in the Treasure Valley, Boise business 55 Brake is available to visit with members of the media. The company manufactures and markets an intelligent parking brake control system for school buses throughout the Northwest and has been working with the center since 2001. With help from the Idaho SBDC, 55 Brake signed an international licensing agreement with one of the world’s largest manufacturers in 2004 and expects millions of unit sales as a result. For more information, call the Idaho SBDC at 426-1839.   The Idaho Small Business Development Center, headquartered at Boise State University, is helping its clients drastically outperform the average small business and helping to boost the state’s economy.   An annual impact report released this month shows that for every $1 that is used to support the Idaho SBDC, more than $4.60 is returned to the economy through increased state and federal tax revenue.   For Idaho SBDC clients, employment growth was more than 10 times the average, and more than 2,500 jobs were created or saved. Sales increased $40 million; $6.1 million in additional state and federal tax revenue was generated.   “These results clearly demonstrate that Idaho’s small businesses are back and stronger than before the slowdown,” said Jim Hogge, Idaho SBDC state director. “It is truly exciting to work with these entrepreneurs as they grow their businesses and Idaho’s economy. The Idaho SBDC will continue to provide high-quality support to Idaho’s small businesses, including high-growth potential firms.”   Small businesses are responsible for 60 percent to 80 percent of the net new jobs according to the Small Business Administration. About 97 percent of Idaho firms are considered small businesses — those with 500 or fewer employees.   The Idaho SBDC is a statewide network with six offices located at Idaho’s state colleges and universities that provide no-cost confidential business consulting and affordable trainings and seminars to Idaho’s for-profit small businesses. During the past year, the center served 1,662 clients with tailored one-on-one consulting and 2,891 individuals with focused, high-impact training. The center served clients in all of Idaho’s 44 counties.   For more information on the annual report or Idaho SBDC services, call 426-1839 or visit www.idahosbdc.org.   Contact: Jim Hogge, Idaho SBDC state director, (208) 344-6754, jhogge@boisestate.edu                                                               Media Contact: Sherry Squires, communications and marketing, (208) 426-1563, ssquires@boisestate.edu