VIDEO: Impact of state budget crises on the relocation decision

Companies may not be moving, but they are planning. Businesses often take up to three years to consider locations, evaluate what each has to offer and make a decision. How states handle current budget challenges is being watched closely. The outcomes will prove telling to companies considering another state.

When companies do relocate, they’re going to move to states that can manage their budgets. They will look to minimize future state budget uncertainties. The state of Idaho as an example balanced its budget without a tax increase – and it didn’t take them forever to do it. The state of Washington is getting its budget balanced while looking for tax cuts, so it isn’t going to be a burden for the business community. Companies are going to look for states that can do that. Learn more about relocation decision factors in this interview.

New office and technology campus

Manufacturing and technology companies looking to expand will receive a boost with the conversion of a 250,000-square-foot building in Liberty Lake into a multi-building campus. Full development of the campus will allow up to 700,000 square feet of office and manufacturing uses with up to 4,000 jobs. The existing building includes about 65,000 square feet of upper-level office space that could accommodate a large employer or be divided into smaller office spaces. The main level has approximately 80,000 square feet of space suitable for manufacturing, research and development, distribution or warehouse use.

The 70-acre campus will be known as the Meadowwood Technology Office Park. It will include a mix of owner-occupied and leasable facilities.

VIDEO: Bob Potter discusses Southern California’s business climate

Southern California companies concerned about the state business climate have taken a conservation approach with their capital until the economy improves. While businesses wait, they are watching the state wrestle with questions about how to fund its massive pension fund and balance the budget. The state’s tax structure, regulatory issues, and workers compensation remain ongoing concerns regardless of economic conditions. Learn more about what Southern California companies are saying in this interview.

New aerospace facility to open in fall

Construction has begun on a new Consolidated Aircraft Maintenance and Painting Hanger facility at Spokane International Airport. Associated Painters, Inc. of Everett has signed a 20-year lease for the 41,000-square-foot facility. The hangar bay is designed to accommodate a minimum of two Boeing 737-900 aircraft, with adjoining shops, office and storage space.

The $6.5 million hangar will be the latest addition to Spokane’s healthy and growing aerospace industry. Funding for the facility includes $4 million from CERB, $300,000 from the state’s Economic Development Strategic Reserve Account and $2 million in airport money.

Spokane and the Inland Northwest are home to more than 60 manufacturers, suppliers, distributors, and organizations – 8,100 workers and a $324.8 million payroll – that serve and support the aerospace industry. Aircraft parts and auxiliary equipment manufacturers represent the greatest industry presence in the Inland Northwest, which is also home to companies involved in aircraft manufacturing, maintenance, repair and overhaul.

Leading the national ‘smart grid’ initiative

When the federal government released $45 million to begin work on the country’s largest “smart grid” demonstration project it also underscored the importance of the Inland Northwest clean energy companies. These home-grown innovators are generating solutions in energy efficiency for smart grid applications that will become key components of the Pacific Northwest Smart Grid Demonstration Project.

The $178 million federally designated smart grid demonstration project gets underway in the rolling fields of eastern Washington with a distinctly home-grown feel. The study will involve more than 60,000 metered customers in Idaho, Montana, Oregon, Washington and Wyoming and make Pullman, Wash. the region’s first “Smart City.”

Much of the technology was developed within a 100-mile area that has quietly stepped to the forefront of energy efficiency expertise for smart grid application. Schweitzer Engineering Laboratories, which grew into a worldwide business in Pullman, and Itron, a globally known company headquartered an hour away in Liberty Lake, Wash., are key partners in the demonstration project. Their solutions will be a big part of the devices, software and advanced analytical tools tested by the project.

Other partners include Avista Utilities the city of Pullman, Washington State University, Hewlett Packard and Spirae.

The Lure of Greener Pastures

Last fall, an article ran in the San Gabriel Valley Tribune, "The Lure of Greener Pastures," highlighting the reasons why I believe that companies are leaving California and heading to places like the Inland Northwest to do business. Similar articles ran in the Inland Empire Business Journal, the Pasadena Star New, and the San Fernando Valley Business Journal - all illustrating why the low business costs and high quality of life in Eastern Washington and Northern Idaho are enticing companies to move to our region.

Welcome to Inland Northwest Economic Developments

Welcome to the official blog of the Inland Northwest Economic Alliance! Here we will explore what makes the Inland Northwest (the region spanning northern Idaho and eastern Washington) a great place for business. We will discuss what makes businesses in our region successful – from low business costs to a skilled and committed workforce to a distinctive, affordable quality of life. Along the way we will share stories of businesses that have prospered after relocating here.

The Inland Northwest Economic Alliance (INEA) represents 10 regional economic development agencies covering 14 counties in northern Idaho and eastern Washington. The collaborative effort is aimed at building economic growth by showcasing the Inland Northwest, its communities, and its business value.

My role as the INEA’s chief recruiter is to help identify businesses that can benefit from the advantages of working in the Inland Northwest. I help them determine the bottom-line impact, and assist them through the relocation process. Some might call my approach ‘traditional’ or even ‘old-fashioned’ – but I know one thing. Today, more than ever, business owners are looking for value and every advantage to survive and thrive in this reset economy.

That process has been featured in the book The Potter Principles (Amazon.com and BarnesandNoble.com). The book, authored by Jeni Forman, is a step-by-step guide to the process that helped me successfully bring more than 75 companies to the Inland Northwest. Those companies found business value and opportunities to grow in eastern Washington and northern Idaho.

We look forward to sharing with you what makes the Inland Northwest such a wonderful place to live, work and play.