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

2012 Economic Outlook BJ Swanson, Executive Director February 9, 2012. 2012 Economic Outlook LEDC – who we are… Latah County – what we are… Strategies for economic prosperity….

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

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  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

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

  11. 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

  12. 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

  13. THANK YOU!

  14. Cohort Totals

  15. Latah County 2011 EMPLOYMENT vs. UNEMPLOYMENT

  16. Latah County Employment 2005 – 2015 emsi data

  17. emsi data

  18. 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%

  19. Latah County Unemployment December 2010 emsi data

  20. Latah County Educational Attainment

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

  22. 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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