Friday, January 20, 2012

CITY HALL EYEBALL: Spokane and economic growth

Posted By on Fri, Jan 20, 2012 at 9:56 AM

We wrote this week about Spokane Mayor David Condon's economic growth transition team and whether changes in city hall will be able to spur job and economic growth.

One of the pieces that got me thinking about this story was reading a 2012 economic forecast written by Grant Forsyth, who we quote in the story. 

In his predictions for 2012, which you can read for yourself here, Forsyth highlights that personal income growth per person in the Spokane-Kootenai County metro area will rise .5 percent. He describes that in his report as "Icky-bad."

And then there's non-farm employment growth, which Forsyth predicts will also rise by only .5 percent. He describes this one as "Icky-icky-bad."

Meanwhile, existing home prices in the region will fall between 8 percent and 10 percent. As Forsyth says, "Equity, we hardly knew ye."

As for Spokane city sales tax growth, there will be none in 2012, according to Forsyth's predictions.

As his report remarks: "Oh, &*%!#"

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