Spokane New Economy Summit

The Spokane New Economy Summit

April 5th and 6th

Friday- Gonzaga University Jepson Center

Saturday- EWU Phase 1 Building

Hello Spokane Entrepreneurs,

I wanted to tell you all about an event that is happening this weekend.

The Spokane New Economy Summit seeks to promote ideas and strategies for a stronger and more sustainable regional economy and to catalyze support for action.

The Inland Northwest is as an idyllic place to live and work. This reality is being slowly discovered by those outside the area, and we find ourselves on the verge of an economic revitalization. The time is now to prioritize a triple bottom line of profit, people and planet in order to ensure that future development will be lasting and equitable. Many in our community already recognize the value of these key concepts and are putting them into practice. We seek to bring together students, small business owners, farmers, and community members to discuss new ways of thinking about and participating in our economy.  We hope to facilitate discussions on topics ranging from sustainable agriculture to community banking to economics education; and to create space for networking, collaborating, and building momentum towards a more prosperous, inclusive, and resilient Spokane.

Join us on April 5th and 6th to take part in shaping the future! For more information and to register, go to InwNewEconomy.com.

On Saturday afternoon at 2pm, I will be hosting a pitch contest with Cash Prizes.

We will be giving:

$1000 for 1st place

$500 for 2nd place

$250 for 3rd place

The Rules of the Game

Times:

• Each pitch shall be a maximum of 5 minutes long. The time keeper will cut each pitcher off at exactly 5 minutes.

• There shall be a maximum of 10 minutes for the pitcher and the audience to discuss the idea after the pitch is complete. The time keeper shall allow the pitcher enough time to comfortably answer the last question when the time is finished.

Judging criteria:

• Sustainability: The business idea will be judge on its sustainability

• Community Development: The business idea will be based on the good it would do for the community around it.

• Based in Place: The business idea will be judged on how well it leverages the current assets

available in the target community.

• Triple Bottom Line Profit Standard. The business idea will be judged based on its profit potential. Profits will be defined by the “Triple Bottom Line” philosophy: societal profit, environmental profit, and financial profit.

The pitcher shall use no electronic media devices.

If you have any questions, contact Reed Jessen

Reed.Jessen@gmail.com

(509)768-2677

Wiggett's Antique Marketplace in Coeur d'Alene Has Been Purchased

Tom and Patricia Power own The Cellar in downtown Coeur d'Alene, Sunshine Minting Inc., which has operations in the Lake City, along with Nevada and China, Power Audio Video, which specializes in home theater and integrated home systems, a real estate holdings company, and now have purchased the former home of Wiggett's Antique Marketplace at Fourth and Lakeside. The 27,000-square-foot building has been sitting empty for about five years. Nothing has been announced about their plans for the building.

Lighthouse For the Blind Inc. Expanding Spokane Location

Seattle-based Lighthouse for the Blind Inc., which provides jobs for blind people and others with disabilities, plans to expand its Inland Northwest Lighthouse manufacturing facility, located on Spokane's North Side, and boost its employment here. Melanie Wimmenauer, a Seattle-based spokeswoman for Lighthouse, says the organization plans to add 41,000 square feet of combined office and manufacturing space to the 52,000-square-foot facility, located in an old Tidyman's supermarket. Read from the source Journal of Business: http://jmorgan.us/XXzLue

Does Idaho Have a Software Labor Shortage: Point and Counterpoint

There was a really interesting couple of articles in the Idaho Business Review today that I think bring up some really good points.

Here is the first by Scott Ki:  For months, I’ve studied the debate on whether there’s a shortage of software developers in Idaho. I’ve decided there is a gap, but there’s also a broader issue of concern. I’ll explain.To research the labor market, I dived into academic papers, studied arguments for and against visa programs for skilled foreign workers, read dry economic formulas with regression analyses, and tracked international, national and regional statistics. But I’m not going to descend into the rabbit hole of tracking all the different arguments, because that type of analysis would be pages long. I’m going to try to keep it clean and simple.

Read more: http://jmorgan.us/YpeRRe

The second by Jake Alger brings up the fact that a lot of collaboration happens that supports growth and educational opportunities: Economic growth doesn’t occur in a vacuum. Support in the critical areas of health, education and financial independence serves as a springboard to success ― not only for individuals, but throughout our valley’s economic landscape.Businesses are uniting with nonprofits and government entities to turn shared vision — based on hearty evidence — into collaborative change.This community impact model for change saves time and talent, and forges outside-the-box partnerships. These relationships stretch across sector boundaries, in fact.

Read more: http://jmorgan.us/XXrMgT

Titan Spring, Inc. on Relocating to the Inland Northwest

In 2007, Jim Glenn, president of Titan Spring, Inc. relocated his company from Southern California to Hayden, Idaho. What prompted the move and how is life today? We sat down with Glenn as he shared his thoughts on doing business in the Inland Northwest - and on his relocation experience.

Regional interdependence brings opportunity for innovation

It’s been said that with great struggle comes great opportunity.

According to Public Management, our current economic strategists are following this “glass half-full” anthem, and creating new approaches to overcome the lack of industrial expansion that has threatened each citizen’s livelihood in the past few years. Innovative new pathways, including talent development and utilization, are promoting growth and opportunity.

“What had been an almost exclusive focus on marketing and industrial recruitment is being augmented by approaches that emphasize homegrown sources of economic activity—efforts that develop entrepreneurial skills, creativity and talent, and promote innovation,” Public Management wrote.

Economic emphasis is now being reorganized to focus on the development of trades and skills that will contribute to the health of each region. This, in turn, will create employment opportunities for those looking to try their hand at a new, highly-specialized occupation.

Additionally, continued globalization is furthering the process of state, local, and regional interdependence. Reliance upon one another is becoming vital to survival and good for business. A high-level of community knowledge and skills ensures a healthy, thriving and stable economy that can equally support economic expansion of the others.

Boat builders in Lewiston, Idaho and Clarkston, Wash. are a great example of the partnership potential. The region’s consortium of welded-aluminum jet boat manufacturers has formed the Snake River Boat Builders Export Program to develop viable foreign markets.

Regional performance, according to Public Management, is no longer based solely on company recruitment and populated commercial buildings. Under the “half-full” methodology, communities that collectively embrace varying skill sets and innovative occupational possibilities have a lot clearer outlook.

Study advises entrepreneurs to look to Washington state

In a time of economic uncertainty, many aspiring professionals are no longer looking for a company to belong to, but rather searching for a place to create one.

According to a recent study by economists at the University of Nebraska-Lincoln’s Bureau of Business Research and Department of Economics, Washington state ranks second for entrepreneurial activity.

The State Entrepreneurship Index, a compilation and analysis of each state’s entrepreneurial activity, took into consideration a number of vital components when pinpointing performance, including “a state’s percentage growth and per capita growth in business establishments, its business formation rate, the number of patents per thousand residents, and gross receipts of sole proprietorships and partnerships per capita,” according to an Albany Business Journal story.

Washington fell directly behind New York, and led Massachusetts, New Jersey and Oregon. According to the survey, South Carolina fell in last place.

The rankings were based on “states performance compared to the nationwide average,” the Albany Business Journal wrote.