Economic Development Resources

There are several economic development entities in North Idaho that focus on providing and improving the local infrastructure.

Panhandle Area Council, Inc. (PAC), is an Economic Development Agency organized to aid in diversifying and stabilizing the area’s economy. Members of the Council are elected officials from North Idaho Cities and Counties, as well as, the Coeur d’Alene and Kootenai Indian Tribes. The Council serves the five northern counties of Idaho: Boundary, Bonner, Kootenai, Benewah and Shoshone.
www.pacni.org
Services PAC Provides:
Low Interest Loans
Business Counseling
Grant Writing and Administration
Government Procurement Assistance
Economic Development Planning
Business Incubator for Start-Up and Expanding Businesses

Urban Renewal Agencies:
Post Falls Urban Renewal: www.pfura.com
Lake City Development Corporation: www.lcdc.org
Since 1997, the LCDC has helped support a vibrant community through partnering in community redevelopment projects. To date, the urban renewal agency has supported projects that have created hundreds of new jobs and added millions in valuation to the city. LCDC is a catalyst for positive change that leverages partnerships and resources for the betterment of the community—both economically and in quality of life.
Hayden Urban Renewal Agency: ckrueger@cityofhaydenid.us

Opportunity Zone
Defer capital gains tax with Opportunity Zones under the Tax Reform Act.
The recently passed Tax Reform Act included a potential tax break for investors. An investor may defer capital gains taxes on the sale of any opportunity zones asset. These taxes can potentially be deferred until December 31, 2026, or the date of a sale (whichever is earlier). This original capital gains tax is reduced over time, and if held long enough, new appreciation on the investment can be realized tax free.

How does the opportunity zones program work?

An investor sells an asset and generates a capital gain. The capital gains from that investment must be reinvested within 180 days into a designated Opportunity Zone (OZ). An OZ is a specially designated census tract. Large parts of the U.S. are eligible for designation, including many commercial, industrial and residential areas. If the investment is held, the capital gains liability on the original investment will be reduced by 10% after five years and by 15% after seven years. After 10 years, the new capital gains taxes generated from the opportunity fund investment are reduced to zero.

New Markets Tax Credit Areas
The New Markets Tax Credit (NMTC) Program was established in 2000 as part of the Community Renewal Tax Relief Act of 2000. Essentially, the New Markets Tax Credit Program incentivizes business and real estate investment in low-income communities of the United States via a federal tax credit. The program is administered by the US Treasury Department’s Community Development Financial Institutions Fund and allocated by local Community Development Entities across the United States 

Panhandle Area Council, Inc. (PAC), is an Economic Development Agency organized to aid in diversifying and stabilizing the area’s economy. Members of the Council are elected officials from North Idaho Cities and Counties, as well as, the Coeur d’Alene and Kootenai Indian Tribes. The Council serves the five northern counties of Idaho: Boundary, Bonner, Kootenai, Benewah and Shoshone.

www.pacni.org
Services PAC Provides:

 

 

 

Low Interest Loans

  • Business Counseling
  • Grant Writing and Administration
  • Government Procurement Assistance
  • Economic Development Planning
  • Business Incubator for Start-Up and Expanding Businesses

Other Urban Renewal Agencies:

Post Falls Urban Renewal: www.pfura.com

Lake City Development Corporation: www.lcdc.org

Since 1997, the LCDC has helped support a vibrant community through partnering in community redevelopment projects. To date, the urban renewal agency has supported projects that have created hundreds of new jobs and added millions in valuation to the city. LCDC is a catalyst for positive change that leverages partnerships and resources for the betterment of the community—both economically and in quality of life.

Hayden Urban Renewal Agency: ckrueger@cityofhaydenid.us

CONTACT US

208-667-4753

josh@cdaedc.org   |   loren@cdaedc.org

COEUR D'ALENE, IDAHO