2012 economic outlook bj swanson, executive director february 9, 2012

2012 Economic Outlook

BJ Swanson, Executive DirectorFebruary 9, 2012

2012 Economic Outlook

LEDC – who we are… Latah County – what we are… Strategies for economic

prosperity….

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.

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

MISSIONThe 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.

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

Herding cats…

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

Potlatch Industrial Park Master Plan

Rural Potlatch locationRelocated from Issaquah & Kent WashingtonEmployment opportunities (15+ up to 50) Living wage jobs

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

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

THANK YOU!

       Population Change 1990 2000 2010 % Chg

United States 248,709,873 281,421,906 308,745,538 24.1%

  State of Idaho 1,006,749 1,293,953 1,567,582 55.7%

      Latah County 30,617 34,935 37,244 21.6%

      Nez Perce County 33,754 37,410 39,265 16.3%

  State of Washington 4,866,692 5,894,121 6,724,540 38.2%

      Whitman County 38,775 40,740 44,776 15.5%

Asotin County 17,605 20,551 21,623 22.8%

Cohort Totals

Latah County 2011

EMPLOYMENT vs. UNEMPLOYMENT

Latah County Employment 2005 – 2015emsi data

emsi data

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%

Latah CountyUnemploymentDecember 2010

emsi data

Latah County

Educational Attainment

Transportation/Communication Infrastructure

Regional collaboration is key!

PUW Airport

US Highway 95 Improvements

WA 270 Corridor Support

Link IDAHO Broadband

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