A bright spot in Grant County economy
The Washington State Economic Outlook and Revenue Forecast Council issued a report earlier this month showing some positive news for Grant County: the county's taxable retail sales (sales tax received by the state) increased by 16.3 percent in the first quarter of 2012, as compared to the same time last year.
Taxable retail sales totaled $318,184 for Grant County during the first quarter of 2012, with the figure coming in at $273,485 one year ago.
Even better, Grant County was ranked fifth in the state as showing the most growth in this area. Ranked first through fourth were Columbia County (160.8 percent change), Pend Oreille County (48.3 percent change), Ferry County (40.9 percent change) and Garfield County (18.1 percent change).
Grant County has a lot to be proud of, considering it surpassed more populated areas like King County (5.7 percent change), Spokane County (4.4 percent change) and Benton County (1.6 percent change).
What happened in Grant County to cause this improvement?
It was likely a variety of factors, but news reports from the first quarter show the opening of a scrap booking business and a Mr. Appliance franchise in Ephrata, the new Sun Dial Bistro in Soap Lake, Katana Summit bringing on more workers, the Port of Moses Lake, City of Moses Lake and ASPI Group working together to build a 12-inch water main and two new Warden businesses.
Across the state, taxable retail sales increased 4.7 percent to $24.1 billion from first quarter 2011 to first quarter 2012. Economic improvements appears slow in some areas, but faster in other areas, like Grant, Columbia, Pend Oreille and Ferry counties.
Of major industries statewide, construction increased 8 percent to $3.4 billion, accommodations and food services went up by 6.6 percent to $28 billion, motor vehicles and parts increased 9 percent to $2.6 billion, and general merchandise stories were up by 1.9 percent to $2.2 billion.
Statewide, existing home sales increased by 10.4 percent above July 2011 sales levels, according to the council's report.
In the report, job growth was termed slow statewide during the economic recovery. For two consecutive months, there was more than 200,000 jobs created, but growth slowed to less than 100,000 jobs for April, May and June. In July, there was an increase of 163,000 jobs.
It's true this report doesn't show second and third quarter losses and gains. But it is still an encouraging piece of news for the groups and individuals trying to attract new business to Grant County and retain existing companies.
- Editorial Board