At Impact Radio Group we pride ourselves on being a resource to our clients for the latest market data. We pay for additional qualitative research no other radio group in the valley has access to. As a client, we will share exclusive annual research relative to your industry.
Click to see example of industry report:
BOISE, IDAHO (TREASURE VALLEY) MARKET PULSE
This once, and not too long ago, laid back agrarian community has in the last decade become dynamically robust and vibrant in its growth and expansion.
The growth factors and structures have been and are under controlled expansion planning, avoiding urban and suburban sprawl while accommodating meaningful and beneficial planned growth and development.
The work force is in short supply with major employers aggressively recruiting out of state employees in the medical, agricultural, educational, and retail sectors.
Medical facilities (St. Luke’s and St Alphonsus) are doubling the footprint of their medical operations…adding hundreds of thousands of square of feet of facilities to support the rapid growth factor of the region.
The largest percentage of growth in the region is in West Ada County as well as in the western section of neighboring Canyon County. The regions current population is estimated at closing in on one million residents. Economic Development Agencies, Real Estate Developers, and Community Planners estimate that between the years of 2035 and 2040 that the region will reach three million residents…which is the size of today’s Denver, Colorado metroplex.
Compared to the average national household size of 2.5 persons this region’s average is 3.8 persons per household
The DMV in Ada County is issuing Idaho license plates to new out of state residents at the rate of 1,200 to 1,500 per month.
The cities within West Ada County are annexing county land at record rates for the purposes of building new home developments to accommodate the shortage of homes in the region…demand is dramatically outpacing supply.
In concert the communities have developed carefully crafted master plans that demand the rebuilding of the area infrastructures and educational facilities to accommodate the burgeoning growth.
The city of Meridian, which is one of the most robust communities in West Ada County, has been selected by numerous national registries as:
- Best place to live in these United States
- Ninth fastest growing city in these United States
- Healthiest place to live in these United States
- One of the most affordable areas in which to live in these United States
Equally the region is experiencing incredible demographic/psychographic swings that immediately translate to greater highly profitable business growth.
Hewlett Packard, Micron, Boise Cascade, Lactalis, St. Luke’s, St Alphonsus, Primary Health, Albertson’s, Simplot, Gardner Companies, ESI (Engineered Structures). Fisher’s Technology, MetaGeek, Balihoo, Select Health, Pacific Information & Technology, and Blue Cross ( either corporately headquartered and/or with mega size campuses in this region) are attracting a large number of both entry level employees (recent college graduates) ages 21- 25 as well as the 25- 54 age set that they have been able to recruit from the California, Oregon, and Washington Hi-Tech and Medical industries.
They have done so given the affordability and better family raising environment factors within the Treasure Valley.
Those affordability factors coupled with the aforementioned Treasure Valley acclaims are also capturing the 54 plus age group with sizable retirement portfolios.
The split between the above two age groups moving into this region is virtually equal thus providing an ideal demographic balance to the region to continue to allow for its robust expansion while supporting these upwardly mobile families that have above average HHI and rapidly changing lifestyles.
Moreover, this region has become culturally diverse providing a plethora of educational, dining, entertainment, and shopping experiences to satisfy the most discriminating. Entertainment runs the gambit from Symphony to Country and everything in between. The entertainment venues ranging from the Taco Bell Arena to the Morrison Center accommodate virtually every major traveling Broadway Show to the top names in today’s world of entrainment…right down to the Mountain Home Country Music Festival venue (virtually on par with the now famous Coachella Fest in Southern California) that presents the top Country Music Artists.
This region is alive and expanding at a pace that was unpredictable two or three decades ago…the quiet well kept secret of the Treasure Valley is today’s front page news.
GENERAL MARKET CONDITIONS
The market is exceedingly strong in both short and long term projections.
Radio advertising revenues are outpacing expectations and are up considerably from 2015.
Radio is enjoying consistent weeks of advertising throughout the year without any major soft spots and/or weeks. Rates are escalating in response to demand and supply.
Impact Radio Group has not experienced advertisers that are cutting nor pulling back their budgets.
Given the burgeoning growth of this market there are new advertisers entering the marketplace on a daily basis from employment recruiting firms, retail, medical care, the financial sector, entertainment, to automotive, home builders…the pace is robust.
Advertising activity is aggressive. This category is up. Once again given the heavy growth, above normal home building, and the high rate of out of state transfers to this market in the above segments are enjoying superb growth which has affected the entire category including but not limited to banks/credit unions, investment firms, mortgage lenders, auto health and life insurance.
Auto dealers and their associations have upped the ante in their radio advertising campaigns desirous to capture the new residents moving into the region. There has been no pulling back in their radio advertising from our perspective. We have experienced an up-tick from the upscale import segment which once again goes to the above average HHI that we are experiencing in this market. Area automobile dealers are carrying larger than usual amounts of inventory…particularly in the truck and SUV categories.
Department and big box stores are rapidly expanding as are the boutique shopping experiences.
The Village in Meridian continues to expand at a very rapid rate with its incredible mixture of retail, dining, and entertainment complexes.
Mixed use development is on the march offering combination residential living (upstairs) with retail space on the ground floor.
Furniture, floor covering, and home furnishing stores are abounding and spending radio dollars at levels in excess of last year.
Mattress stores spring up virtually overnight on prime real estate intersections.
Big box stores the likes of Costco, Winco, and Home Depot are adding major 70,000 plus square foot facilities to the regions landscape at a phenomenal rate.
Once again all of the above is due to the demand of the burgeoning population.
This entire category is up in its radio advertising spending.
The Boise International Airport is adding new national and international carriers with new non-stop destinations to accommodate both the business and leisure travel segments. Given the large expansion of residents and business growth as set forth in the OVERVIEW of this document, the need has been determined and is being responded to accordingly.
Local and state tourism boards are continuing their aggressive advertising campaigns to out of area regions keying in on the uniqueness of this region with its abundance of outdoor recreational opportunities including skiing, camping, hunting, hiking, water sports activities, the local and area collegiate sports teams, dining, hospitality industry, and entertainment venues.
The entire segment is expanding to keep up with and abreast of the needs of the region’s growing population.
Grocery stores are expanding through the acquisition of smaller to medium size competitors increasing the size of their footprint.
Likewise C stores have found additional niches for growth in the expanding home developments. State owned liquor stores are also building new facilities in these expanding communities. This market is far from soft and none of them are pulling back on their radio advertising budgets within our cluster of stations.
New packaged goods’ advertising is active in an effort to maintain shelf space at the retail level.
A good deal of the detail on this category has been set forth in the OVERVIEW of this report.
This industry is practicing a concerted effort to meet the region’s growth in both preventative medicine as well as in patient care facilities.
Clinical trial research studies have found a home in this market due in large part to the expanding population that comprises of a widespread demographic.
Dental, laser, body contouring, vein clinics, specialty dental centers, and medical weight loss centers have upped their radio spending as well.
Drug stores are spending at record levels.
Communication providers are growing at an incredible pace from cell phone carriers to cable and satellite providers…the category is definitely up as are its advertising dollars.
Impact Radio Group has recently added a new station to its cluster…The ALTERNATIVE FM station, which is Boise’s newest and the Treasure Valley’s only Alternative Rock station. This additional station was added to reach the new population segment that is rapidly increasing in this region.
With the exception of the above stated additional station, Impact Radio Group stations have not changed their programming broadcasting formats…being a dominant group of vibrant entertainment medium with growing audiences, it has not necessitated format changes. Our goal is to not only keep up with but stay on top of and clearly lead the entertainment needs/demands of this ever growing marketplace.
It is also important to note that Impact Radio Group is the only cluster of radio stations in the Boise marketplace that is locally owned and operated. We do not report to any out of town/state corporate ownership. Translated…this simply means we know how to and do react to any local market changes instantly. Locally owned means our pulse is at all times on local market conditions. We are completely focused on this market and its ever changing demography and it rapidly growing economic trends.
Anecdotal research that highlights the attitude of this region’s new residents is straight forward…case in point…stop the average person on the street that has recently moved here…ask them why…the response comes in the form of a question…”Why the hell didn’t I move here five years ago?”
This type of response typifies why the greater Boise area is called “The Treasure Valley”.
The Retail Spending Report bears further credence to the growth in this marketplace