402 Tacoma Avenue S., Suite 200 TACOMA, WA 98402 PHONE (253) 627-4853 FAX (253) 627-2253
FRIDAY, JANUARY 11, 2013
Vol. CXXIV, No. 8
OFFICIAL NEWSPAPER OF THE CITY OF TACOMA Devoted to the Courts, Real Estate, Finance, Industrial Activities, and Publication of Legal Notices
Published Since 1890
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Local economists see stronger economy, slow job growth for Pierce County The Tacoma-Pierce County Chamber released its economic forecast for Pierce County during a meeting Friday morning at the Greater Tacoma Convention and Trade Center in downtown Tacoma. The Chamber's Horizons Economic Forecast breakfast meeting is held annually to unveil the Pierce County Economic Index, which is compiled by local economists Dr. Bruce Mann and Dr. Doug Goodman, professors of University of Puget Sound, and aims to provide an update on the economic wellbeing of Tacoma and Pierce County for the forthcoming calendar year. The pair has presented the annual report for more than two decades. During the meeting this morning, which included keynote speaker Kimberly Harris, President and CEO of Puget Sound Energy, Mann and Goodman laid out some of their predictions for the local economy, including: -- The Pierce County economy will grow a little faster in 2013. The economy will expand by 2.8 percent, helped by growth in the military bases, at Boeing, in shipping, and in the health industry; -- Job growth will be slower than in 2012, and it will be more competitive for jobseekers. Jobs will expand by 1.8 percent, less than the 2.1 percent growth in 2012. Plus about 1,000 additional people will be
seeking work, as graduates enter the market and some discouraged jobseekers renew their search; -- Home sales will pick up by a healthy 7.6 percent, accelerating the 5.8 percent growth seen in 2012; -- How Congress resolves the remaining "fiscal cliff" federal deficit and debt issues will be critical for Pierce County. Almost one-third of local income comes from non-labor sources, and much of this is from social security, welfare, veterans' benefits, and similar. If such payments are cut, consumer spending will decline; -- The unemployment rate, which peaked at 10.5 percent in early 2010, will drop from 8.25 percent at the end of 2012 to 7.9 percent by the end of 2013; -- Retail spending by consumers rose by 4.7 percent in 2012, well ahead of inflation. In 2013 it will rise by only 2.2 percent—less than the inflation
Seeking special event permit? Tacoma has new process Posted online Mon., Jan. 7 The City of Tacoma announced Monday it has modified the way it handles processing for special event permit applications. The city's community and economic development department has taken over the responsibility from the City Clerk's Office in a move that aims to assist special event planning and permitting customers, according to city officials. "Not only does this move simplify the process for our special event planning and permitting customers, it also ensures that their technical requirements and any other services that they might need, such as promotion consultation and site visits, are given special attention," said Kala Dralle, who currently handles film permits for the city and who will also be managing the special event permit application process. Special event permit applications may be submitted up to 24 months in advance, prior to an event. The fee schedule is based on projected event attendance, and includes services such as staff review, permits for road closures and/or rightof-way obstructions, contact lists, map templates and, in some cases, engineered traffic control plans.
It does not include fire permits, complex engineered traffic control plans, portable restrooms, barricades and no-parking signs, business licenses, trash/recyclable pickups or police officers. A 10 percent discount will be applied to all special event applications received more than 60 days prior to the event date, and a nonrefundable processing fee of $25 will be applied to special events that are cancelled by special event planning and permitting customers. Special event planning and permitting customers may also incur other expenses which are their sole responsibility. Special consideration will be given on a caseby-case basis to special event planning and permitting customers without Web access, or who may be impacted by events in their neighborhoods. Special event permit applications are available online at cityoftacoma.org/Page. aspx?nid=1124. To request a hard copy special event permit application, or for more information, please contact Kala Dralle at (253) 5732523 or by sending correspondence to the City of Tacoma Special Events Office, Attention: Kala Dralle, 747 Market Street, Room 900, Tacoma, WA 98402.
rate; -- Total personal income will grow by 5.5 percent in 2013, reaching a new high of $38 billion by year end. After inflation individuals on average will have 1.3 percent more income in their pockets than in 2012; -- The housing recovery, which hit a rut in late 2010 and through most of 2011, is back on track. In 2013 the volume of single-family home sales will surge a healthy 7.6 percent. Demand for condominium units will remain weak; -- The outlook for industrial real estate continues to be strong. For commercial and office real estate, it remains weak, with high vacancy rates continuing in most areas. "When Doug and I presented our first official forecast 25 years ago, we had no idea it would be so well received by the community," Mann said. "So we continued with the project and enjoyed it. However 25 years is long enough for anyone to peer into a crystal ball. We want thank our sponsors, the Tacoma-Pierce County Chamber, as well as University of Puget Sound and the community, for 25 years of fun and, we hope, some insights." Looking ahead in 2013, the economists said the rate of growth will still be sluggish, as it was in 2012. But Pierce County should benefit from some "big picture" changes at the national and local levels. The new Patient Protection and Affordable Care Act, popularly known as "Obamacare," will lead to an increase in federal health care funding, buoying Pierce County's sizable health care industry. Mann and Goodman caution that the economic horizon could still darken. Among the potential threats are: recessions or financial crises in Europe, heavy cuts in federal entitlement program spending, new wage pressures, and any rise in interest rates. Such events could hit consumer and business confidence and depress local markets. The Pierce County Economic Index was the first index of its kind in the United States, and remains one of only a few econometrically based, local area forecasting models. The research by faculty and students is undertaken as part of University of Puget Sound's Civic Scholarship Initiative, which partners the university with others in the community. The complete report is available online at tacomachamber.org.