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I have
hesitated to update this blog with an economic page due to the downturn in our
national picture as well as local doldrums. In a meeting last fall with Mel
Dick, former CFO of Coldwater Creek, and David Keyes, editor of the Bonner
County Daily Bee, the question was asked of how many restaurants would go under
before the next summer season. We were just firming up the plans for Dine Around
Sandpoint. This one-month long promotion had radio and print advertising, and
strategic internet marketing. It was intended to give a boost to some of our
local eateries during what is normally one of the slowest periods of the year.
By all standards it was a success.
I have
worked for years supporting the arts, local events, and mentoring small
businesses, but this year seemed especially important. So far, it looks as
though Sandpoint is faring well. Few businesses have closed their doors this
winter. Plus, while recently
unemployment in Bonner County was at a 25-year high, we have some bright
spots. For instance, after losing Harold's Grocery four years ago to the new
Panhandle State Bank building, we have had only one major downtown supermarket.
Super 1 Foods store opened last summer, providing needed downtown
competition.
Laughing Dog Brewing has exponentially expanded into its new, much bigger
facilities. With the kind of expansion reported, this small
beer company is now selling in 26 states. Another
bright spot is Smart Plugs, and a new company that will be building straw bale,
affordable smart homes across the country. Other companies are cutting back,
some are closing down.
Quest Aircraft just laid off 65 employees in August and another 26 in
November putting their employed at roughly a third of the labor force it
employed at peak. However, Quest is still in business. Quest will sell 15 of the
$1 million Kodiaks in 2010 with 13 of them out the door and two under
production. The company has orders for 18 in 2011 which equals one plane a
month. Dish Home Cooking, which has won critical acclaim, closed its doors in
October. Lumber is not fairing much better.
The Inland
Northwest has suffered from downturns before in the lumber industry. About the
time that the spotted owl and national moods were against sustainable lumber,
Bonner County, where lumber mills have closed recently, had unemployment rates
from 11.1 to 15.1 percent. In Oregon, where the county government revenues are
so tied in to the lumber
industry,
basic services like ambulances and county sheriffs are either being eliminated,
or cut to the bone. In Sandpoint and Bonner County, it has been a long time
since the heydays of Humbird and the other great mills. While Priest River is
still largely dependent on lumber, Sandpoint has diversified with
industries
like Quest Aircraft, Airtow, Encoder, Litehouse Foods, and Coldwater Creek, and
many more. Yet, just the summers of 2007 and 2008, ads ran for months offering
jobs at the mills at roughly $100 a day, including full benefits. The building
boom was a reprieve for the industry, but there doesn't appear to be any
comeback on the horizon. It is hard to compete with Canada right to the north.
Their prices for 2x4s are lower than ours, and with free trade, it is hard for
local mills to compete. Once, doing a talk radio show in Sandpoint, I hosted an
hour-long reading of the History of North
Idaho.
Right after the show I got a call from a Miss Eppie who chastised me at length
for not mentioning the Laclede lumber mill. She is in her 80s. Pretty soon,
maybe only octagenarians will remember when lumber was king in North Idaho. We
may be able to keep some of them open, but without the rest of the nation
needing our
tree
products, we will probably see more closing soon.
Winter of
2008 was considerably better with several smaller big block and mom-and-pop
stores opening. While that was a marked sign of economic health, many of those
decisions to build were made in the better years of 2006 and 2007. Indeed the
decision for Super 1 to build has been in the works for years.
It is a
good time to get the best deals for fledgling businesses. In the old BBQ joint
on Highway 200 behind the Bonner Mall the new Paul Bunyan burger stand just
opened, offering a multitude of hamburgers, all priced at $2. My company,
Tomlinson Sandpoint Sotheby's International Realty, just bought the Sotheby's in
Coeur d'Alene, with the new company becoming Tomlinson Sotheby's International
Realty. The rents in Sandpoint, which have been inflated for years, now is very
reasonable. Yesterday I looked at space in the Cedar Street Bridge going for 50
cents a square foot, with a generous period of months provided gratis.
Double
digit unemployment rates can be frightening; however, these rates are not all
that unusual in Bonner County. In the last twenty years unemployment rates have
been in double digits at least thirty different months. Winters are always hard,
and summer hiring has not started yet. In the past, when more of our workforce
came from timber, we had a natural ebb and flow based on the weather. Current
numbers reflect a non-seasonal downturn. We don't expect to see big numbers
hired this summer in that all businesses are wary and are being careful. See the
historical unemployment rates here.
There have
been other improvements in our economy. A new Holiday Inn Express opened not far
from Schweitzer Mountain Ski Resort, and two other hotels have been renovated
and updated to national chain standards. The NOAA had predicted a warmer, drier
winter season in the Pacific Northwest, and with that forecast, Schweitzer
reevaluated its ski season goals. However, after having two record-breaking
seasons both in snow and revenues, few expected 2009-10 to be a banner year,
especially with the minimal snowfall. Yet sales records were topped last season
once again. 2010-11 has the
NOAA predicting a wetter and cooler winter due to La Niña, yet Schweitzer
has tentatively announced it will open mid-December, which is later than their
usual Thanksgiving opening date. Schweitzer, which had been very generous with
the new management of Tom Chasse, dropped its sponsorship of Lakedance Film
Festival, and cut back a bit on its charities and events. These were good
business decisions. After all, if Schweitzer is not financially successful, the
company cannot disperse largesse. Luckily, we had sufficient snow on the
mountain to have a decent ski season.
Lakedance ended
up leaving the area after the 2009 season. The reasons given were tenuous at
best, and though having the recognition of a recognized film festival that had
recieved press from the highest sources was nice, the festival never quite
brought in the numbers that were hoped for. Granted, it takes time to establish
a following for these kinds of events. The Festival at Sandpoint is a case in
point. Yet in recent years other long-standing events almost disappeared, such
as the Sandpoint Winter Carnival. This is a natural occurance. Those
participants that put on the shows get burned out; funding dries up; people just
stop coming. We used to have a timber festival. With lumber playing less and
less of a role, only places like Priest River, which still is closely tied in to
its industry, still have a Timber Fest.
The very
big snow years of 2008 and 2007 were not so good for our economy either.
Certainly it caused many to leave, and perhaps put off those who were
considering relocating to our area. We are seeing more people move out of rural
regions of Idaho and into urban areas. Much of this can be attributed to jobs,
but simple access is important. Big snow makes it hard to get around. The
continued recession added to the downturn of the kinds of people and and
businesses that moved here in previous years. Read this
article in the Bonner Daily Bee:
Idahoans leaving state's rural areas.
Most
familiar with Sandpoint know we are a manufacturing town. As mentioned
previously, one of our star
companies, Quest Aircraft, is down to 120 from 345 employees, and Coldwater Creek had cut staff months previously, they have been on a virtual
hiring freeze for almost a year. Coldwater Creek, though, as our biggest company
with sales over one billion dollars is not strapped. They continue to pay for
their operations with cash, not having to dip into the credit line they procured
a couple of years ago. Other companies had made similar moves. (Here is
Coldwater Creek's financials.) Lumber
mills closed due to the slow down in construction, and orders for our
manufactured goods had slowed, though recent company figures are encouraging. On
the other hand, Litehouse Foods has met and exceeded all of its sales goals, and
continues to be a bright spot in our local economy.
With sales
numbers increasing, companies are going to have to start hiring within the next
12-18 months. Things are getting better, albeit slowly.
There is
lots of evidence supporting this premise, especially for Idaho:
For
instance, as of today, November 9th, 2010, Bonner County's unemployment rate is
at 11% down from a 25-year high of 13.7%.
Spokane's
rate is at 8.2%, lower than the Washington State rate of 8.6% and considerably
lower than the national number of 9%. We are very influenced by Spokane and
Coeur d'Alene. Kootenai County to our south has a rate of 9.3%, and Boundary to
our north is at 12.6%. So, the farther away from Spokane, the higher it goes.
However, they are in full recovery, we are not far behind.
Here are
some of the pundits:
Five States That
Will Lead US Out of Recession
- CNBC
Energy states,
Idaho leading comeback
from recession -
USATODAY.com
Silverwood, more than 600000
- Coeur d'Alene Press: Business
Even the
most trusted economist on Idaho's economy, Jeff Thredgold, is optimistic about
our immediate and long-term future. You can read what he wrote for the winter
season below.
According
to the January 2010
Idaho Economic Forecast, a publication produced by the Division of
Financial Management, Idaho's economy, which includes housing starts, will grow
only modestly. Personal income, with had grown dramatically since 2002, actually
shrank in 2009 and is predicted to recover to 2008 levels this year.
Housing
starts are a fraction of their highest mark of 23,418 in 2005. By 2009, that
number had fallen to 5,890, but are predicted to improve to 7,756 starts for
2010 and will grow to over 16,000 by 2013.
Taxes are
not going up in Idaho, but the budget has been cut, and state funded schools are
also having to make due with less. Idaho has low taxes. Recently, several
articles have raised the question of
how competitive Idaho's universities will be with tuition increases and
budget cuts. Another idea being bandied about is to combine the research dollars
and efforts from competing universities. Hard times demand creative solutions.
Yes,
compared to most states, and especially Washington and California, Idaho taxes
are low. But if you move here for the low taxes, be prepared for what comes with
it.
Companies
like Buck Knives moved to Post Falls for quality of life, not for tax
incentives; Idaho has few of those. At the time of writing this piece Buck
Knives had just produced their millionth knife of 2010. Pretty cool. One thing that keeps companies away from our
area is the lack of trained and qualified workers. Labor costs, proximity to
markets, low crime, access to highways, quality health care, red tape and
schools all come before corporate taxes. We have many of the things companies
are looking for, such as low
crime, and we are at the center of several major rail lines. Certainly driving
to work with majestic mountain and gigantic lake views are inspiring, and many
companies have made that move. In a good economy, our advantages have tipped the
scale and attracted great companies to our area. One wonders in a recession are
these advantages enough?
As far as
educated and qualified, there were plans to build a University of Idaho
satellite here. Dennis Pence, founder of Coldwater Creek, had pledged 10
million, and the state had offered matching funds. Then the economy blew a tire,
and Coldwater's stock fell dramatically. Dennis' gift was based on the value of
the stock and the offer was put on hold. We still will probably get the
facility, but it may not happen for ten or twenty more years.
People in
Idaho are willing to work hard and for less money than many other places, but
they are not as well trained or educated. In Idaho, twenty-five percent of
working adults have a college degree, ranking our state in the lower tier.
We spend
less on education in Idaho. In 2007 Idaho's per pupil expenditure ranked 49th
out of 50 states and the District of Columbia.
The
unemployed are also another drain. The January 2010
Idaho Economic Forecast predicts modest gains for the next
three years.
The
Brookings Institution recently reported that Western states' economies aren't
snapping back as fast as the rest of the nation. The institute points out that
Western states relied too heavily on real estate sales as an industry. In this
article on ActiveRain (Sandpoint
& National Housing Data - March 24, 2010) we addressed the housing issues of
North Idaho and Sandpoint, and pointed out sales in our region fell 17% from
last year, and values went down an equal amount.
Sandpoint
is absolutely tied in with the greater Coeur d'Alene and Spokane economy, no
matter how much we like to think we are independent. One national reporter
stated last year that the two worst places to invest in real estate were CdA and
Hawaii.
However,
CdA and Kootenai County just to the south of Sandpoint has lower unemployment
than
Sandpoint's rate and Spokane is even lower.
In fact, The Spokane-area economy appears to be strengthening again, according
to the most recent Spokane Leading Economic index compiled by Washington State
University professor Don Epley.
Meanwhile,
in a second index compiled by Epley the purchasing power of Spokane's work force
continues to decline, though the rate of decline has slowed.
The
Spokane Economic Activity Index compiled by Washington State University
professor Don Epley developed two years ago to track Spokane's economy using
methods tailored to the metropolitan area's economic makeup, climbed markedly to
0.37 in his recently released report, from 0.38 in his spring report. The index
can vary between zero and 1.0.
Another
area that is doing better in Spokane is housing. While both unemployment and
housing may be fully in recovery, the numbers aren't great enough to cheer
about. The numbers are encouraging though.
According
to
CBS Money Watch house values for this year will decline just another 1.1% in
Spokane, then start going up to 3.9% next year. Coeur d'Alene fares a bit worse,
declining 7.6% this year, and losing another 0.3% by the third quarter of 2011.
While clear numbers are not available for Sandpoint, our figures normally mirror
these other indicators. Lakefront and luxury will mirror Spokane, the rest will
be more in tune with CdA.
So, as
Spokane recovers, next will follow Coeur d'Alene, then Sandpoint. As previously
mentioned, the NOAA forecast a warmer and drier winter and that played out, but
this also means we will have a hotter, drier summer. With one of the largest
natural bodies of water in the west - Lake Pend Oreille - one area of our
economy that may begin recovering faster than others is tourism. When people
visit the lake, they think of buying homes.
Our
economic outlook is a mixed bag, and some might even call it dismal. But right
now, homes are more affordable than they have been in years, and this is still
considered by several national magazines to be one of the best small towns in
America. The numbers also make it more affordable for companies to be in our
area.
Sandpoint,
Idaho is a great place to live.
Sandpoint,
Idaho again will be featured in a national magazine in an upcoming article in
Country Living. Last Friday they asked me for pictures of our area. Pretty cool.
I was very proud of being prominently interviewed in the December issue of
Where to Retire magazine in their five page article on Sandpoint. The
Sandpoint, Idaho real estate market is stronger than other areas, and it makes
sense. Idaho was named the nation's
8th healthiest and
14th happiest state. Schweitzer Mountain Ski Resort was named to Ski
Magazine's Top 25 Ski Resorts, and there is so much to do in Sandpoint. Summer
had the Festival at Sandpoint, Dover Days, and scores of events, and fall and
winter has Winter Carnival, Schweitzer Mountain Ski Resort, and Sandpoint's own
Mardi Gras. Sandpoint has been
called the West's best small town by Sunset Magazine, and one of America's Best
Dream Towns by Outside Magazine, naming Sandpoint the "cool Northwest's hot
property." National Geographic called Sandpoint a Top 10 Adventure Town, plus
features in USA Today, Forbes, MSNBC, and Smart Money Magazine. Perhaps Cabin
Life, Cabin Living said it best calling our community "the quintessential
Western outdoor lover's town." So, now that Sandpoint, North Idaho, Schweitzer
Ski Resort, and Lake Pend Oreille have got your attention, you want the inside
story. More
information about Sandpoint, Idaho
Tourism
Tourism grew rapidly in the
late 1980s and early 1990s. Summer tourism grew, as North Idaho became better
known as a tourist destination, and as more Canadians shopped and played in
Bonner County. Sandpoint's reputation as a haven for the arts also contributed
to the growth of tourism. The 1990 expansion of Schweitzer Mountain Resort
boosted winter tourism. The biggest boost to area tourism were the articles
published in national newspapers and magazines over the last several years.
Our area has been featured in
USA Today and
Smart Money Magazine. Sunset
magazine called us the “West’s
best small town.” National Geographic Adventure
magazine voted Sandpoint one of the 10 best adventure towns in the nation.
Outside magazine featured
Schweitzer & named Sandpoint
the “cool
Northwest’s hot property.”
Schweitzer was in Away.com
and has been in many ski mags such as
Ski Snowboard. Forbes.com loved our
telecommuting,
MSNBC said it again, & Cabin Life,
Cabin Living called Sandpoint “the quintessential Western outdoor
lover’s town.” These are just a few of the dozens of features on the area
since 1990.
Tourism employment normally
reaches its high point of the year in August, falls to its lowest level before
Thanksgiving, rises to its winter peak between Christmas and New Year's, and
then falls to its lowest point in April. For example, tourism employment went
from 1,720 in January 2001 to 1,430 in April, then rose to 1,802 in August, then
fell back to 1,430 in November. These figures have increased by over thirty
percent since then.
With Bonner County Population
growth impressively outpacing the national average, the prospect of growth is
all but assured. In a recent article in Smart Money, according to the magazine,
buying property in Sandpoint, Idaho is one of the ten best ways to create wealth
in the nation. While many areas area seeing their housing values decline, in a
recent article in
CNN/Money, Coeur d'Alene was
forecast to appreciate 12.8% for 2006, and Sandpoint has traditionally
appreciated much higher than our neighbor to the south. Additionally, manufacturing and tourism are creating a population
that has the expendable income consumer that is the typical restaurant diner,
shopper, and dynamic that feeds an economy like ours.
As is
indicated by current economic data, the national, as well as the local economies
have been in recovery for two-three years. However, one of the great areas of growth is in the
direction of at home services and trends. While travel has slowed, local travel
(i.e., under 50 miles from home, in-state, and cross-state) has grown. Sales of
time shares have slowed, but home improvement has exploded. This is clearly
evidenced by the growth of Lowes and Home Depot, as well as the over forty (40)
new television programs geared entirely to home building and remodeling and a
proliferation of cooking and home oriented shows from Martha Stewart to the Food
Network. Dining out continues to be a growth area, and Americans are eating out
more and more, with substantial growth created from the take-out and planned
meal arenas.
With more and
more specialized events such as Art Shows, the Wooden Boat Show, Arts and Crafts
fairs, the Festival at Sandpoint, and many more, the glowing outlook for Tourism
is growing every day.
Idaho Economic Outlook
Winter 2010
Written by Jeff Thredgold, President, Thredgold Economic Associates
Economic Consultant to Zions Bank
Better Days
Ahead
The Idaho economy is expected to complete its transition from a painful
recession to modest economic growth during 2010. Such improvement will be
consistent with slow but steady improvement in a majority of the nation’s
states, including most states in the Western U.S.
Every state has recorded an
employment decline during the most recent 12-month period. No surprise:
Washington DC has added a modest number of net new jobs as the expansion of
government continues. Such declines have ranged from 1.5% or lesser declines
in North Dakota, Alaska, and Montana to declines exceeding 6.0% in Nevada,
Michigan, and Arizona.
Idaho’s employment decline
during the most recent 12-month period is estimated at 5.2%, ranking Idaho
in the bottom fifth of the states. The net loss of roughly 34,000 jobs
during this period, while exceedingly painful to those impacted, compares
favorably to even greater job losses just two months earlier. Such
comparisons will continue to “improve” in coming months, with the state
likely to record positive year-over-year job gains by late 2010.
Lost
Jobs
Idaho job losses have primarily been concentrated in goods production
industries of construction and manufacturing, with nearly half of all jobs
lost tied to these two sectors. Additional losses have primarily occurred in
trade, transportation & utilities, professional & business services, and
leisure & hospitality sectors.
The Gem State’s 9.0% average
unemployment rate of recent months remains below the 10.0% national average,
but also close to its highest level in nearly 30 years. Recent jobless rates
are twice that of 18 months ago and three times that during 2007.
First Things
First
Two developments must occur before the Idaho economy can begin to grow
again. The first of these is a return of U.S. economic growth, which has
been underway since the summer of 2009. The second event is a return of
global economic growth, a development now seemingly underway.
Economic
Development
More concrete signs of renewed economic growth during 2010 will heighten
competition between the 50 states to attract jobs. Much of the focus will be
on enticing attractive employers from higher-cost states to lower-cost
states, with costly incentives a key part of the equation.
Western states will focus on
California companies. Smaller states in the Northeast and the Midwest will
focus on employers in New York, Massachusetts, Illinois, and Michigan. While
any successes in enticing out-of-state employers make for good “front page”
news, two other components of economic development too often get the short
ends of the stick.
Economic development is a
three-part process…1) attraction of outside existing or new employers, 2)
retention of existing employers, and 3) expansion by existing employers.
What can Idaho’s political and business leaders do to entice outside
employers to the state at reasonable costs? What can leaders do to keep
Idaho employers in place, even as other states are focusing on Idaho’s most
promising companies? And what can Idaho’s leaders do to entice existing
employers to expand their Idaho operations?
Time to
Refinance
Thousands of Idaho’s struggling homeowners, like those across the nation,
can benefit from the most attractive 30-year fixed-rate conventional
mortgages in 40 years. National rates have averaged below 5.00% in recent
weeks, in part tied to aggressive buying of mortgage-backed securities by
the Federal Reserve.
Such attractive mortgage
rates may not be available later in the year as the Federal Reserve
concludes its purchase program and, sooner rather than later, begins to sell
such securities. Severe job losses and home price weakness in Idaho and
around the nation have reduced the number of people who can refinance a
mortgage or finance a new home. Still, timing is critical to “lock in” such
extremely attractive mortgage interest rates.
Idaho…2010
More signs of Idaho and regional economic rebound from the painful recession
will be seen as 2010 matures. The Idaho economy will perform better!
Renewed U.S. and global
economic growth provides the framework for a resumption of Idaho economic
growth later in 2010 and especially during 2011. The state’s longer-term
economic potential, tied to the moderate cost of doing business, a young and
growing workforce, a business-friendly public sector, and a high quality of
life, will continue to rank with the best in the nation. |
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Energy states, Idaho leading comeback
from recession - Published
in USA Today September 21, 2010
Idaho's Unemployment Rate Improves
- Published in USA Today September 21,
2010

Northern
Idaho Area Labor Market Information
Northern Idaho is comprised of the five northern most counties of Idaho:
Benewah, Bonner, Boundary, Kootenai, and Shoshone. The beauty and lifestyle of
this area has attracted thousands of new residents in recent years, making it
Idaho’s second most populous region. The region’s largest city, Coeur d’Alene,
is just 33 miles from Spokane, Washington, where many Northern Idaho residents
work. Industries playing major economic roles include the lumber industry, a
wide variety of other manufacturing industries, tourism, retail, agriculture,
call centers and the Coeur d’Alene and Kootenai Tribes.
Inland Northwest Regional Overview on doing business
-
-
- Local Office Labor Market Information
-
-
Bonners Ferry Coeur
d'Alene
N. IDAHO CHAMBERS OF COMMERCE
Business Climate & New Economy
From the
Bonner County Economic Development Corporation
Skilled employee pool
Part of
the inherent ease of doing business in Bonner County is its bounty of
skilled workers. And when you’re located in a beautiful area that happens to
have a lower cost of living, it’s particularly easy to find employees who
are excited about being part of your growth and productivity. Additionally,
Idaho distributes a Workforce Development Training Fund to help Idaho
businesses train their workers, so you can have a knowledgeable team up and
running in no time.
Low business costs
In Bonner
County, you’ll also discover some of the lowest workers compensation
premiums in the country, thanks to Idaho’s emphasis on working safely and
productively. And, having already dropped 36% in the last five years, rates
continue to fall steadily, making this an ideal time to relocate your
business.
Overall, the costs of doing business in Idaho are much lower when compared
with other parts of the country. According to the Regional Financial
Associates, Idaho is the seventh best state in the country for total
business-related expenditures. For example, many companies find their
overall energy costs are half of what they would be in other western
regions. And gas prices are just as attractive, as the state is conveniently
located on a major north-south natural gas pipeline.
Idaho enjoys a business-friendly government that is committed to helping
businesses become successful, profitable assets to its communities. And
state and local officials have worked hard to ensure a balanced tax
structure that has to date resulted in the third lowest per capita tax
burden in the West.
Click here to go to the
BCEDC Website
Sandpoint Community Profile PDF
Bonner County Profile PDF
Bonner County Workforce Trends
Bonner Labor Market Profile PDF
Living and Working in Idaho
Idaho Labor Laws
Idaho.gov Economic Climate
Idaho
Tourism data
Bonner County Economic Development Corp.
Boundary County Economic Development Council
Largest Employers in Bonner
US Census Economic Fact Sheet: Sandpoint
US Census Economic Fact Sheet: Bonner County
Bonner County Quick Facts
Inland Northwest Alliance
Wikipedia Idaho Facts
Macneil-Lehrer.com:
Background Information: The Changing Idaho Economy
New Study Finds Tourism an
Increasing Economic Factor in Idaho
Idaho's
Incredible Business Incentives
Starting a Business in Idaho
Workforce Development Training Fund Application
Priest River Development
Corporation
Bonner County Economic Development
Corporation
Idaho Mining Association
Idaho Forrest Products
Commission
Group gives Idaho B in job creation
State Tax Forms
Idaho State Veteran's Affairs
BuyIdaho.org - Newsletter
Idaho Game & Fishery Economic
Facts
Help wanted to fill 300 jobs
Bonner County Profile
Inland Northwest Economic Developments, Spring 2010
www.inlandnorthwestregion.com
The following are projects, initiatives and economic developments that are
making news in eastern Washington and northern Idaho. This email is distributed
by the Inland Northwest Economic Alliance (INEA) on behalf of its regional
partners.
Coeur d’Alene, Idaho – Hospice of North
Idaho is scheduled to break ground this week on North Idaho’s first Hospice
House, according to an article in The Spokesman-Review. The project is expected
to be complete by next spring. The house will have rooms for 12 terminally ill
patients whose loved ones can no longer manage their care at home. Hospice
raised $3.7 million for the project through community donations. Read the full
article at
http://www.spokesman.com/stories/2010/jul/19/paul-weil/.
Coeur d’Alene-based manufacturer of
keyboards, Esterline , recently unveiled its newly expanded production facility,
according to the Coeur d’Alene Press. The 54,000-square-foot addition to the
keyboard manufacturing company will make room for the company‘s more than 300
employees, who previously occupied the firm’s original 85,000-square-foot plant.
Read the full article here -
http://cdapress.com/news/business/article_b2fdfc73-8d41-5eda-a9e1-51403448f070.html.
Pullman, Wash. - Clint Cole, co-founder
and president of Digilent, Inc. of Pullman, was named small manufacturer of the
year for Seattle Business Magazine's Washington Manufacturing Awards. Digilent
creates field programmable gate array boards, microcontrollers and other devices
used to teach students digital circuit design and programming. Its products are
used in more than 1,000 universities in 70 countries. Read the article here -
http://www.seattlebusinessmag.com/article/digilent-inc-pullman.
Hayden, Idaho - Whitewater Creek Inc., of
Hayden, Idaho, has received building permits from the City of Post Falls to
construct 50 town houses and a community center building in a project valued at
an estimated $3.9 million in the 250-acre Tullamore mixed-use development, city
documents show. Read the Journal of Business article her e-
http://www.spokanejournal.com/article.php?id=6077.
Lewiston, Idaho/Clarkston, Wash. – The
Snake River Boat Builders Export Program, a program serving a group of boat
builders in the Lewiston, Idaho/Clarkston, Wash. area, is marketing
welded-aluminum jet boats for international export. The program is expected to
play a significant a role in positioning the Lewiston/Clarkston region as the
“Jet Boat Capital of the World.” The initiative is already gaining international
attention. Editor-in-Chief of Germany’s Skipper Magazine visited the region and
will feature the program in an upcoming issue. The next phase of the program
will include international business training and CE certification for selling
into the European Union, coordinated by Janet Bauermeister of the U.S.
Commercial Service and Gary White of P’Chelle International. For more
information, contact Gary A. White, P’Chelle International, 509-539-3575 or
gary@pchelle.com.
Regional Spotlight
Highlighting the region’s strengths and burgeoning
industries in smart grid technology, aerospace and entrepreneurism
Spotlight on Smart Grid
A
$178 million federally designated smart grid demonstration project is underway
in Eastern Washington. The study will involve more than 60,000 metered customers
in Idaho, Montana, Oregon, Washington and Wyoming and make Pullman, Wash. the
region’s first “Smart City.”
Much of the technology was developed within a 100-mile area that has now stepped
to the forefront of energy efficiency expertise for smart grid application.
Schweitzer Engineering Laboratories, which grew into a worldwide business in
Pullman, and Itron, a globally known company headquartered an hour away in
Liberty Lake, Wash., are key partners in the Pacific Northwest Smart Grid
Demonstration Project. Their solutions will be a big part of the devices,
software and advanced analytical tools tested by the project. Other partners
include Avista Utilities, the City of Pullman, Washington State University,
Hewlett Packard and Spirae.
Spotlight on Aerospace
Spokane and the Inland Northwest are home to
more than 60 manufacturers, suppliers, distributors, and organizations – 8,100
workers and a $324.8 million payroll – that serve and support the aerospace
industry. Aircraft parts and auxiliary equipment manufacturers represent the
greatest industry presence in the Inland Northwest, which is also home to
companies involved in aircraft manufacturing, maintenance, repair and overhaul.
The companies represent a mix of locally founded entities, recruited firms and
expanding businesses that are tapping the area’s competitive business climate to
grow. For example, Titan Spring Company, formerly of North Hollywood, Calif.,
has grown its operation since moving to Hayden Lake, Idaho two years ago. It is
a certified manufacturer of precision wire-formed aircraft and aerospace parts
and works exclusively with certified vendors. Absolute Aviation Services is a
low-cost, quick-turnaround, reliable aircraft parts repair business that works
for the likes of Delta, American, United and Allegiant airlines. The company,
headquartered at Spokane International Airport, received the Governor’s
Excellence in Aerospace Award 2008.
Spotlight on Entrepreneurism
The Inland Northwest is a great place to
start a business. Regional resources provide exceptional support for
entrepreneurs, and solid success stories showcase how the region helps build
thriving businesses – even in tough economic times. The region’s positive
business climate, compelling quality oflife and innovation culture reward
boot-strap entrepreneurs making this the perfect place to expand or start new
operations.
Companies like Spokane, Wash.-based Pacinian are thriving here. Founded in 2007,
Pacinian's HapticTouch technology enables digital devices to provide natural
tactile feedback. With the help local incubator Sirti, Pacinian has been able to
successfully grow its business. The company just signed on with two major
companies and has nine patents pending.
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Economic Numeric Data |

Government Statistical Data Sites
State of Idaho Economic Forecast
Idaho SBDC
There are several local organizations actively
promoting economic development in Northern Idaho. They compliment the services
offered by the Coeur d’Alene Chamber of Commerce.
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Jobs Plus, Inc. is a non-profit economic
development corporation providing information and staff support to companies
considering relocation or expansion to Kootenai County, Idaho.
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The Panhandle Area Council Inc. (PAC) is a
non-profit, certified Economic Development Corporation organized to aid in
diversifying and stabilizing the area’s economy. The council serves the five
northern counties of Idaho and assists small businesses in their start-up or
expansion.
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The Idaho Small Business Development Center (ISBDC)
is a small business assistance program serving small business owners and
managers in starting or expanding businesses. It also assists in business
plans, cash flow projections, organizational development,
marketing/advertising plans, loan assistance information and new venture
analysis.
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