Several area ski resorts have begun their winter seasons. Lookout Pass opened the first weekend of November, while Silver Mountain and Schweitzer opened Thanksgiving weekend. Source: Spokane Journal of Business
Water Solutions Inc. is building an office building with an attached manufacturing space in Rathdrum. The company, which sells drinking water purification units, began as a sole proprietorship in 2001 in Rathdrum and anticipates a workforce expansion commensurate with their growing business and new facilities. Source: Spokane Journal of Business
The city of Hayden issued building permits for a $13.7 million, 96-unit apartment complex. The complex is the first phase in a larger development plan by Coeur d’Alene-based Hayden Village LLC, which will eventually develop 64.4 acres in Hayden. Source: Spokane Journal of Business
As Idaho’s economy continues to flourish, wages are also increasing. Accounting for statewide job growth from 2012 forward, Idaho has seen a 2 percent to 3 percent increase in total annual private sector wage growth, up 17 percent over the past decade. Wage growth rate variances depend on an array of factors including economic situation, location, industry, job growth and demand. Demographics also show a distinction in wage appropriation and growth with gender as a demographic that is frequently discussed.
Traditionally, men and woman have held different, but essential roles in America’s economic success. Initially women filled specific, ‘white collar’ service occupations such as clerical and administrative. As time passed women integrated themselves into all industries, especially during World War II when they stepped into jobs typically held by men. Another shift occurred when men returned from the war to their jobs.
The Parks and Recreation Committee in Coeur d’Alene voted to ban offshore businesses in the city’s water corridor on Lake Coeur d’Alene. The decision will affect enterprises like the Hooligan Island jungle gym barge and boats that sell food. The committee sited the danger of motorized boat traffic near the beach, in water that is generally full of kayakers, paddle-boarders and swimmers in the summer. Source: Coeur D’Alene Press
Developers Philip Wirth and Rick Robinson have announced plans to create a 233-acre technology park on Highway 41 in Post Falls. The complex is being designed with technology and aerospace manufactures in mind, and the developers have specifically cited proximity to North Idaho College’s technical schools in Rathdrum as a draw to the location. Source: Coeur D’Alene Press
Alliance Data – citing strong growth in its Card Services division – announced plans to add 140 workers in Kootenai County by the end of 2017. This would raise the total employment at the company’s Coeur d’Alene complex to 750 employees, from 610 currently. A company spokesman said that Alliance anticipates a further expansion to between 800 and 850 employees in 2018. Source: Spokane Journal of Business
Viking Construction has begun work on the third and final phase of the Fieldstone Apartments project in Post Falls. This phase will add 64 units to the complex. Source: Spokane Journal of Business
Cascade Team Real Estate – a brokerage based in Issaquah, Washington – announced it plans to open a new office in Coeur d’Alene. Cascade Team focuses on residential real estate and does not provide commercial listings or property management services. Source: Spokane Journal of Business
SPi CRM, a Philippines-based call center, is remodeling the former Sports Authority space in the Silver Lake Mall in Coeur d’Alene to use as a new customer-service call center. SPi’s spokesman noted that the company anticipates total staffing of around 240 employees. Source: Spokane Journal of Business
This article uses from the Idaho Department of Labor’s six regional economists, the Idaho Department of Transportation, CTR and news sources includingCapitol Press, Idaho County Free Press, Idaho Mountain Express, Idaho State Journal, Local News 8, Idaho Statesman, KPVI,Post Register, Los Angeles Times, Spokesman-Review, Teton Valley News, The Atlantic and The Times-News.
The total solar eclipse of 2017 has faded into history, but its effects most likely will be discussed and dissected for some time.
On Monday, Aug. 21, the total solar eclipse occurred along a 70-mile-wide path across the continental United States where the moon completed blocked the sun for about two minutes. In Idaho, the path of totality entered the state from the west at Weiser, passed through the mountainous Frank Church River of No Return Wilderness and continued over Idaho Falls, Rexburg and Teton County.
Before the solar eclipse, southern Idaho communities along the path prepared for unknown numbers of visitors, gearing up to host them at inns, campgrounds and private homes; entice them into stores and restaurants; and protect them from potential problems. Estimates of potential visitors ranged from low to astronomical. No one was sure how many visitors would come, where they would locate and how much money or time they would spend.
A lumber mill in Athol owned by Vaagen Brothers Lumber suffered significant damage in an Aug. 9 fire. Although more than 50 percent of the facility was consumed, none of the mill’s employees were injured. Source: Coeur d’Alene Press
The Post Falls City Council approved a new budget with no increase to property taxes and a fee increase which will affect water and wastewater fees. Source: Coeur d’Alene Press
North Idaho College hosted the annual Art on the Green event. The art fair, which featured more than 160 artists, drew an estimated 50,000 patrons in its three-day run from Aug. 4-6. Source: Coeur d’Alene Press
Sandpoint’s new fiber network has begun expanding to business, including Timberline Helicopters and Tamarack Aerospace. Fatbeam, the fiber provider, cited the projects as examples of how public/private partnerships can work, while Sandpoint city officials noted that the fiber will help companies in need of better connectivity to keep their headquarters in Sandpoint. Source: Bonner County Daily Bee
Idaho’s new business establishments have added more than 10,000 private sector jobs per year over the past two decades, accounting for between 20 to 30 percent of private sector gross job gains and nearly all net private sector job growth. Since the end of the last recession, the share of private sector new businesses in Idaho’s economy has risen faster than surrounding states and the nation as a whole, growing from 7 percent of all establishments in 2010 to more than 11 percent in 2016. Job creation by these private startup businesses, however, remains in decline.
Idaho startup rates and failure rates are higher than national averages
In Idaho, as with the rest of the nation, the rise in the number of businesses entering the economy was significantly stymied by the most recent recession that started in December 2007. At the end of the first quarter of 2010, the number of establishment entries in Idaho had sunk to less than 3,000 from its prerecession peak of 5,073. Since then, the downward trend reversed and establishment entries have returned to pre-recession levels.
Source: Bureau of Labor Statistic – Business Employment Dynamics. Startups are establishments less than a year old and do not include non-employer establishments