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2012 Economic Outlook BJ Swanson, Executive Director February 9, 2012.

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Presentation on theme: "2012 Economic Outlook BJ Swanson, Executive Director February 9, 2012."— Presentation transcript:

1 2012 Economic Outlook BJ Swanson, Executive Director February 9, 2012

2 2012 Economic Outlook LEDC – who we are… Latah County – what we are… Strategies for economic prosperity….

3  The Latah Economic Development Council (LEDC) is a private non-profit corporation incorporated in 1987 to foster the growth and expansion of the economy of Moscow and Latah County in order to provide new employment opportunities for Latah County residents.  The LEDC is funded by contributions coming from the private sector, Latah County, the City of Moscow, Idaho Department of Commerce, and our other rural communities.

4 2012 LEDC Board President Paul Kimmell, Avista Corp. Vice President Debbie Loaiza, Team Idaho Treasurer Janice McMillan, Primeland Secretary James Arrick, EMSI Dave McGraw, Latah County Commissioner Nancy Chaney, Mayor of Moscow Tyrone Brooks, AVP UI Finance/Admin Gina Taruscio, Moscow Chamber Deb Smith, CEDA David Brown, Mayor of Potlatch Janiece Atkins, Mayor of Bovill Robin Woods, Alturas Analytics Kelly O’Neill, Gritman Medical Center David Alexander, IVUS Energy Innovations Eric Busch, Busch Distributors Joy Nickles, Troy Horizons Renee Ellsworth, Sterling Savings Margo Kay, Spinners Flock Farm

5 MISSION The Latah Economic Development Council is dedicated to the creation and implementation of a coordinated, comprehensive program of economic development, to improve the future of Latah County in a manner compatible with local values.

6 LEDC focuses its efforts on business development, recruitment and retention as well as assisting with community development projects within the county.

7 Herding cats…

8 Choosing the right egg (project)……… …..How we determine our work Strategies for economic prosperity…. Source ideas/projects Establish/leverage collaborators Filter viability Run to ground Getting business results

9 Potlatch Industrial Park Master Plan

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12 Rural Potlatch location Relocated from Issaquah & Kent Washington Employment opportunities (15+ up to 50) Living wage jobs

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14 The New Food Economy – Local Opportunities Collaborative Effort (LEDC, CEDA, SEWEDA, Latah County, U- I, Moscow Food Co-op, Gritman Medical Center, Avista Corporation, ID Farm Bureau, and ID Commerce Developing a regional food cluster that creates better awareness of regional food production and diversity and establishes our region as a destination for food processing and agri-culinary tourism

15 Strategies for economic prosperity…. Urgency of Economic Development….. Creative “loafing”….. Avoid “analysis paralysis” Entities MUST cooperate/collaborate Economic Alignment U-I City of Moscow Latah County Rural Communities Moscow Chamber

16 THANK YOU!

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18 Population Change % Chg United States248,709,873281,421,906308,745, % State of Idaho1,006,7491,293,9531,567, % Latah County30,61734,93537, % Nez Perce County33,75437,41039, % State of Washington4,866,6925,894,1216,724, % Whitman County38,77540,74044, % Asotin County17,60520,55121, %

19 Cohort Totals

20 Latah County 2011 EMPLOYMENT vs. UNEMPLOYMENT

21 Latah County Employment 2005 – 2015 emsi data

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23 Unemployment in Idaho / Latah County (Idaho Department of Labor issued December 2011) Statewide civilian workforce: 760,800 Unemployed: 65,000 Rate: 8.5% Latah County civilian workforce: 17,548 Unemployed: 1,193 Rate: 6.8%

24 Latah County Unemployment December 2010 emsi data

25 Latah County Educational Attainment

26 Transportation/Communication Infrastructure Regional collaboration is key! PUW Airport US Highway 95 Improvements WA 270 Corridor Support Link IDAHO Broadband

27 ECONOMIC COHESION Process and outcome based economic planning  Creating more certainty in process  Eliminating barriers to growth  Fostering an environment of job creation  Impact of policies, regulations, and taxes on businesses


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