November 14, 2011
Increased demand for Idaho’s precious metals, notably silver, h...
From Eagle City to Silver City, Idaho has seen the positive effects of a thriving minerals mining industry first hand.
Recently, the Idaho Mining Association published a study that measured value of a mining job; proving how integral mining is to a prosperous economy.
According to the report, Idaho Mining Association member firms created more than 9,000 jobs, and contribute more than $1.142 billion in gross state product in 2012.
There ripple effect, of course, is where the bigger picture emerges. For every one Idaho mining job, nearly two non-mining — but industry-supporting — jobs are created, adding $356,000 to the state’s gross domestic product.
This is because of three factors:
In the words of the report, “mining and mine processing represents a significant component to Idaho’s economy…at a time when Idaho’s average wages has fallen relative to other states, mining wages has remained substantially above the average wage, not just in Idaho but in most other states as well.”
While this is great news for Idaho, we must continue to encourage our lawmakers to make domestic minerals mining a priority. With a more streamlined permitting process, the minerals mining industry’s economic and community contributions could extend even further across America.