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Bloomberg Opinion

22 Oct, 10 tweets, 6 min read

Idaho is the fastest-growing state with the best economy since Trump occupied the White House in 2016.

Why? While President Trump is assailing globalists, the Gem State is embracing them trib.al/GccA0tc

Aside from growing some of the world's finest potatoes, Idaho increasingly relies on global trade for its America-leading combination of:

💼Job growth
📈Stock market gains
🏡Home-price appreciation
🏘️Low mortgage delinquency
💸Tax revenue
trib.al/GccA0tc

Like its larger neighbors, Arizona and Utah, Idaho benefits from a growing, internationally minded population, which has surged 6.2% to 1.8 million since the end of 2016 trib.al/GccA0tc

Idaho has:

🐄Chobani, the world's largest yogurt plant
🥔J.R.Simplot's genetically engineered potatoes
🩺A brand new medical school
✈️An expanding aerospace industry

Since Trump's election, Idaho led the U.S. with an 8% rise in non-farm employees trib.al/GccA0tc

Among the small and large companies in the Russell 3000 Index, Idaho companies punched way above the state's weight with a four-year rally exceeded only by companies in:

➡️California
➡️Washington
➡️Florida
➡️Oregon
➡️The District of Columbia
trib.al/GccA0tc

Boise-based Micron Technology, Idaho's largest publicly traded company, has 40,000 employees, a 27% increase since 2016.

Micron rallied 548% during the eight years of Barack Obama's presidency and Asia delivered 85% of Micron sales when Trump took office trib.al/GccA0tc

But Idaho's No. 1 employer was caught in the crosshairs of his trade wars.

Huawei was among Micron’s largest customers, buying more than 10% of the chip maker’s products trib.al/GccA0tc

The disruption illustrates the extent to which Idaho has become a top-ranked state for global trade. Since 2016, here’s how imports climbed:

🇺🇸U.S.: 9.2%
📈Arizona: 35%
📈Utah:18%
📈Idaho: 14%
trib.al/GccA0tc

Utah’s and Arizona’s exports led the nation during the same period, rising 44% and 12%.

Idaho exports fell 30%, however, and Micron's revenue plummeted 23% in 2019 and declined 8% this year trib.al/GccA0tc

Idaho's traditional industries have prospered through globalization.

Even though Idaho is still Trump country, Republicans will find the state increasingly going the way of purple Arizona. Whose fault will it be when that happens? trib.al/GccA0tc

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