A new announcement surfaced this week in Meridian, Idaho. For those who know the name but may be unfamiliar, Meridian is the second-largest city in Idaho (after Boise) at around 106,800 people according to a 2018 census estimate. Along with Boise and Nampa, Meridian is one of the primary cities that make up Idaho's Treasure Valley.
Over the past few years, Meridian is considered to be the state's fastest-growing city and is consistently in the top fastest in the United States. We've written about Meridian extensively on our Blog, but for those looking for a more in-depth breakdown (ie. for investors considering owning multifamily in the metro) you can request the free market report we put together here: Boise-Metro market report
Keep an eye out for future news updates on our site and by following us on social media—we've been heavily invested in real estate investing through new-build multifamily fourplexes in Meridian, Nampa, and Boise for some time now. The Fourplex Investment Group absolutely LOVES the area and we are thrilled about the continued growth the valley has shown over the last five or so years.
Meridians Mayor, Robert Simison along with the Boise-Valley Economic Partnership announced this week that Valor Global will be acquiring Pro Service Boise. Valor Global is an Arizona-based company and provides outsourced customer care services/solutions to several world-leading brands.
The acquisition will also require the expansion of it's technical, operations, and customer experience center which is in Meridian. This is expected to bring 1,000 new jobs and a $5 million+ investment into Meridian over the next five years.
Boise Valley Economic Partnership estimates that the changes will bring in more than $50 million in new payroll over the next five years, and an economic impact of more than $10 million in the first year alone.
These changes will likely affect small businesses, restaurants, downtown, as well as the real estate market. This is a good step in the growth of both Meridian and the surrounding metro. Meridian sits directly between Nampa and Boise and is primarily found between Veterans Memorial Highway and West Chinden Blvd.
We expect this will have a positive impact on some of our local investment properties, including our 16 and 26 plex project (Village at Brickyard) in Meridian, Entrata Farms a townhouse-style development, and other past projects that can be found at fig.us/sold
Statement from Valor Global CEO:
“Valor is rapidly expanding across the globe. In the past two years, we have hired over 1,000 teammates at different locations. Today, we are excited to announce that Idaho, will be our next domestic location,”
“[The Boise area] provides a wealth of talent with Boise State University, the College of Western Idaho and an emerging tech scene, which is the perfect combination for Valor Global. We plan to hire nearly 1,000 team members in our location in Meridian and hope to continue growing well beyond this in the city and state.” - Simer Mayo