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Finally, some
economic good news for Sandpoint, Idaho's outlook: Sandpoint Blog
By Gary Lirette, host of North Idaho Business radio show
on KSPT and KBFI, and REALTOR® for Tomlinson Sandpoint Sotheby's
International Realty
Sandpoint has seen a number of new businesses open in the last
year, among them the Pita Pit, and Super One. 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.
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.
"Another bright spot, mostly toward the end of the year, has been
the upswing in hiring by manufacturers here, a trend that's also
likely to continue in 2011," according to this December 6, 2010
article
Economic outlook looking good for somein the North Idaho
Business Journal. That makes sense. The Idaho Business Review
reported
Unemployment high, but north Idaho ahead in manufacturing
in this August 10, 2010 article. They reported, "The Danish
company selected northern Idaho because of
Jobs Plus,
the local economic development agency. The agency helped company
officials navigate the thicket of real estate, permitting, and tax
law and policy that accompanies the construction of a new biotech
factory, officials said. Jobs Plus also aided them in getting the
state to provide $180,000 in
workforce training grants."
Bonner County and Sandpoint are faring even better. A bit further
in the article Karl Dye, executive director of the
Bonner
County Economic Development Corp, commented "In the Sandpoint
area, the growth is even more pronounced. Although unemployment in
Bonner County is almost 11 percent, a diverse business community
has helped the county lead the state in manufacturing jobs. In the
decade where those jobs were vanishing in the rest of the state,
manufacturing rose 24 percent in Bonner County."
Exports for the state of Idaho are up dramatically, with Sandpoint
continuing to do well. This
Idaho exports rebound over 2009 totals article in the December
4, 2010 Idaho Statesmen noted "Growth is being led by
transportation equipment. That includes locomotives built at
MotivePower in Boise and airplanes built by Quest Aircraft Co. in
Sandpoint. Exports in that area reached $188 million in the third
quarter, a 1,185 percent increase over the same time in 2009."
It is a small wonder that companies choose North Idaho for
manufacturing jobs. For instance, the following scenario
represents an annual worker's compensation payment for a business
with 66 manufacturing employees:
On the other hand, Bonner County is moving forward with a new
fiber-optic network. The Bonner County Daily Bee reported on
December 9, 2010 that the
Fiber-optic project sets spring date for completion.
"Karl Dye, executive director of the Bonner County Economic
Development Corporation said that the $14 million project is going
according to plan. At this point, the BCEDC is negotiating with a
handful of companies to act as an anchor service provider, a
process that it hopes to complete by January. After finalizing all
funding sources in February, the organization hopes to start
actual construction after the snow clears."
We have a new community radio station on
88.5 FM: KRFY.
Real estate is doing better in our region also. Check out these
stats:
Closed real estate sales of residential housing for The Selkirk
regional MLS area of North Idaho from 1/1/2010 to 12/14/2010:
LIST
PRICE:
SOLD
PRICE:
DOM:
HIGH
LOW
AVERAGE
MEDIAN
TOTAL
PRICE
LISTING
COUNT
$5,900,000
$11,900
$273,546
$199,000
$183,002,769
669
$3,500,000
$5,000
$245,116
$185,000
$163,982,700
1612
0
156
113
In addition, there are another 68 Pending Sales:
LIST
PRICE:
SOLD
PRICE:
DOM:
HIGH
LOW
AVERAGE
MEDIAN
TOTAL
PRICE
LISTING
COUNT
$1,600,000
$29,900
$301,913
$169,450
$20,530,121
68
$0
$0
$0
$0
$0
1030
1
149
112
This should give us close to $180,000,000 in closed sales for
2010.
Compare that to the sales for 2009:
LIST
PRICE:
SOLD
PRICE:
DOM:
HIGH
LOW
AVERAGE
MEDIAN
TOTAL
PRICE
LISTING
COUNT
$10,800,000
$28,000
$287,770
$199,000
$165,755,994
576
$8,000,000
$23,600
$262,783
$190,000
$151,363,131
1005
0
146
113
This is a definite improvement year-to-year.
Our office of Tomlinson Sandpoint Sotheby's International Realty
is doing even better than the rest of our market, with total sales
in our market of 25.88% but with only 16% of the REALTORS®.
See this pdf.
Business
as well as North Idaho Arts.