Eastern Idaho economic development group shutting down after 11 years
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IDAHO FALLS – Regional Economic Development for Eastern Idaho (REDI), a nonprofit devoted to helping the local business sector grow and expand, will cease operations at the end of the month.
In an Oct. 19 letter to partners and investors, its board of directors announced that the organization will officially dissolve on Oct. 31.
The board says the decision to shut down “was not made lightly” and cited lack of financial support from the community as the reason for the closure.
“Like many nonprofit organizations, REDI’s ability to operate has depended upon sustained investment and financial support from its public- and private-sector partners. Over time, changes in participation and funding have made REDI’s current operating model no longer financially sustainable. After evaluating available alternatives, the Board determined that an orderly wind-up of the organization was the most responsible course forward.”
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In an interview with EastIdahoNews.com, board chairman Scott Reese provided additional information about the closure. He says the election of at least a dozen new mayors in communities throughout eastern Idaho last November has led to shifting priorities, contributing to the downturn in financial support.
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As financial reserves began to dwindle, Reese says he and CEO Teresa McKnight realized it wasn’t sustainable to stay in operation, and the board made the difficult decision to shutter the organization.
“We just didn’t have enough money to keep going,” Reese says. “It breaks my heart because we did a lot of good things, but the folks we count on to keep us going just went a different direction.”
Reese says he appreciates those they’ve worked with over the years, and his comments are not meant to be negative or disparaging.
Although Reese says dissolving the organization is the right decision, he’s disappointed by the outcome after more than a decade of operation.
“I’ve looked at what I could have done differently, and I’ve lost a lot of sleep over it, thinking Where did we miss the boat?,” says Reese. “But … it’s for the best because we couldn’t afford to go on.”
REDI was created in 2015 and served numerous industries in 16 counties across eastern Idaho. Its mission, according to its website, was to deliver economic development programs and services that fostered a business-friendly environment. In that effort, it helped support business retention, expansion, and recruitment and provide workforce development, education, and training to “enrich eastern Idaho’s competitive position and the lives of its citizens.”
Administrative assistant Abigail Murphy says that over the last decade, one of the projects REDI is most proud of is the Elevate Idaho program. It’s a network of regional, state, university and federal mentors with expertise in providing grants for small business innovation research or the development of new technology.
After its launch in 2020, virtual innovation centers were created across the state to provide training and educational workshops, one-on-one consulting, writing assistance, proposal reviews, and real-time collaboration between researchers, entrepreneurs, innovators, start-ups and tech-based economic development partners across Idaho.
As of 2025, the website says it supported 91 funded grants and secured more than $95 million in total funding. Before Elevate Idaho was established, the state had received only 17 funded grants between 2017 and 2019, totaling $5.2 million.
“(Our patrons) were able to get the help that they needed to apply for and win those grants,” Murphy says. “That is one of the biggest impacts REDI has had (through the years).”
Murphy says she came on board as an administrative assistant in 2023 after graduating from Brigham Young University-Idaho. She says, “It’s been an honor” to work with the 11-person board, especially with McKnight and Chairman Reese. She is sad to see the organization dissolve.
“I definitely see its potential and hope that potential can make good in future ways,” says Murphy.
Reese praises McKnight and Murphy for their efforts and expresses appreciation to all the board members.
In the final days of operation, the board says it’s committed to fulfilling its remaining obligations. Despite the closure, they express in their letter the hope that economic development and the spirit of collaboration “will continue to benefit eastern Idaho for years to come.”
“Thank you for your trust, your investment, and your partnership with REDI. It has been an honor to serve eastern Idaho alongside you,” the board wrote.