Tri-City Regional Chamber of Commerce
  • Benton Co. Business Resource Initiative
  • MEMBERSHIP
    • Membership Directory
    • Member Login
    • Join the Chamber
    • Membership Features
    • Sponsorship Opportunities
    • Stakeholder, Leader, & Growth Level Members
  • EVENTS
    • Chamber Calendar
    • Annual Events >
      • Annual Meeting & Awards Luncheon
      • Women in Business Conference
      • State of the Cities
      • Tri-Cities Diversity Summit
      • Elected Leaders Reception
      • Tri-Cities Day with the Seahawks
      • Tri-Cities Day at the Capitol
      • Bridging Partnerships Small Business Symposium
    • Monthly Membership Luncheon
    • Business After Hours
    • Meet the Chamber
    • Ribbon Cutting Request
    • Speaking Opportunities
  • PROGRAMS & SERVICES
    • BUSINESS PROGRAMS >
      • Ask the Experts
      • Economic Gardening
      • Office Depot Savings Program
      • Small Business Incentive Program
    • Workforce & Education >
      • Tri-Cities Regional Career Signing Day
      • Washington Workforce Portal
    • myTRI 2030
    • Business Advocacy >
      • Public Policy Guiding Principles
      • Business Advocacy Letters
      • Session Spotlight
      • Vote for Business
      • TRI-CITIES LEGISLATIVE COUNCIL 2023 LEGISLATIVE PLATFORM
    • Ambassador Club
    • LEARN Groups
    • Washington PTAC >
      • Meet the Buyer
      • Procurement Power Hour
  • NEWS
    • Press Releases
    • Blog
    • Member News
    • Annual Report
    • eBlast Advertising
    • Email Updates
  • ABOUT US
    • Contact
    • Our Leadership
    • Our Team
    • Committees
    • Policies
    • Our Partners >
      • TRIDEC
      • Visit Tri-Cities

CHAMBER BLOG

AWBI - In Tri-Cities, the Numbers Show Recovery in Progress

11/23/2021

0 Comments

 
The VitalsThe Vitals
By the Association of Washington Business Institute

​Businesses are still working through the pandemic — but local economies in Washington are posting strong recoveries.
 
That includes the Tri-Cities economy. The proof is in the numbers.  
 
At the Association of Washington Business Institute, we’ve created a set of economic indicators called the Recovery Vitals. It’s an easy-to-access set of stats that shows whether counties, MSAs and the state are making progress — and how your local economy stacks up against others. And it’s regularly updated by our partners at the Eastern Washington University Institute for Public Policy & Economic Analysis.
 
In the Kennewick-Pasco-Richland-West Richland area, you’re making progress. Among other strengths, the Recovery Vitals show improvement in the Tri-Cities’:
​
  • Taxable quarterly retail sales. In Q2 of 2021, the Tri-Cities saw a 32.8% year-over-year increase. That’s a great sign, because it reflects a steep rise in consumer spending — the largest part of any economy. That local figure compares with a 33.6% increase in the state.
  • Residential building permits. After a steep decline that started in Q3 of 2020, permits were back up in Q2 of 2021. In fact, they were way up — to 1.76 permits per 1,000 residents, compared with 0.09 permits per 1,000 in Q1 of 2021. The statewide rate was 1.48 in Q2. An increase in residential permits signals ramped-up activity in the construction trades and real estate. It’s also a signal to local governments about future sales tax revenue, because home building leads to taxable sales.
 
Different indicators in the Recovery Vitals are updated monthly, quarterly or at longer intervals, depending on how the data is collected. More recent data can help businesses and communities adjust immediate plans and focus resources where they’re most needed. Longer-term data, such as median household income and per-capita personal income, is helpful for understanding big-picture progress and challenges.

We encourage you to explore the Recovery Vitals. They’re part of a free, interactive resource that brings together more than 30 key economic indicators for every county or MSA in Washington. You also can compare one area’s stats with another’s or against the state average.
 
The tool is part of Washington in the Making, a framework for the state’s economic recovery that envisions lasting prosperity for every community in Washington. In the Tri-Cities, we’re glad to see a business community that’s building back strong.

0 Comments



Leave a Reply.

    Categories

    All
    Advocacy
    Awards
    Board Of Directors
    Business After Hours Galleries
    Chamber Spotlight
    Chamber Staff News
    COVID 19
    COVID-19
    Events
    Government & Regional Affairs
    Luncheon Galleries
    Member Blog
    Member Of The Month
    Photo Galleries
    Programs
    PTAC
    Ribbon Cutting
    Sponsorship Opportunities
    Workforce & Education

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    February 2018
    January 2018
    November 2017

    RSS Feed

Copyright © Tri-City Regional Chamber of Commerce. All rights reserved.
7130 W Grandridge Blvd., Suite C, Kennewick, WA 99336 USA
Phone: (509) 736-0510 |  Fax: (509) 783-1733 
info@tricityregionalchamber.com
Hours
Monday - Thursday: 8 am - 5 pm
​Friday: 8 am - 12 pm
​Closed Weekends

  • Benton Co. Business Resource Initiative
  • MEMBERSHIP
    • Membership Directory
    • Member Login
    • Join the Chamber
    • Membership Features
    • Sponsorship Opportunities
    • Stakeholder, Leader, & Growth Level Members
  • EVENTS
    • Chamber Calendar
    • Annual Events >
      • Annual Meeting & Awards Luncheon
      • Women in Business Conference
      • State of the Cities
      • Tri-Cities Diversity Summit
      • Elected Leaders Reception
      • Tri-Cities Day with the Seahawks
      • Tri-Cities Day at the Capitol
      • Bridging Partnerships Small Business Symposium
    • Monthly Membership Luncheon
    • Business After Hours
    • Meet the Chamber
    • Ribbon Cutting Request
    • Speaking Opportunities
  • PROGRAMS & SERVICES
    • BUSINESS PROGRAMS >
      • Ask the Experts
      • Economic Gardening
      • Office Depot Savings Program
      • Small Business Incentive Program
    • Workforce & Education >
      • Tri-Cities Regional Career Signing Day
      • Washington Workforce Portal
    • myTRI 2030
    • Business Advocacy >
      • Public Policy Guiding Principles
      • Business Advocacy Letters
      • Session Spotlight
      • Vote for Business
      • TRI-CITIES LEGISLATIVE COUNCIL 2023 LEGISLATIVE PLATFORM
    • Ambassador Club
    • LEARN Groups
    • Washington PTAC >
      • Meet the Buyer
      • Procurement Power Hour
  • NEWS
    • Press Releases
    • Blog
    • Member News
    • Annual Report
    • eBlast Advertising
    • Email Updates
  • ABOUT US
    • Contact
    • Our Leadership
    • Our Team
    • Committees
    • Policies
    • Our Partners >
      • TRIDEC
      • Visit Tri-Cities