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MONDAY, MARCH 10, 2014
Vol. CXXIV, No. 46
OFFICIAL NEWSPAPER OF THE CITY OF TACOMA Devoted to the Courts, Real Estate, Finance, Industrial Activities, and Publication of Legal Notices
Published Published Since Since 1890 1890
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Quarterly Report Construction activity drives Tacoma economy
Posted online Fri., March 7 File Photos By Todd Matthews, Editor Tacoma City Council's Economic Development Committee is scheduled to meet Tuesday morning to receive an update on the City of Tacoma's Economic Indicators Summary, a quarterly report that provides data on economic trends in the community and the City of Tacoma's efforts to support economic development. According to a March 5 memo prepared by City of Tacoma Community and Economic Development Department Director Ricardo Noguera, the local economy improved slightly when comparing the fourth quarter of 2013 to the fourth quarter of 2012. More specifically: —The City of Tacoma saw a 5.1 per cent growth in sales tax revenues, but a 3.9 per cent decline in business and occupation tax revenues. Retail sales and taxes tied to construction projects involving Tacoma General Hospital, Franciscan Health System, Associated Petroleum Products, and Wal-Mart were major factors for the increase in sales tax revenues, according to the report; —The number of residential building permits rose 52 per cent, while their value grew by 110.5 per cent, according to the report, while the number and value of commercial building permits dropped 11.8 per cent and 60.4 per cent, respectively. The most significant permits issued during the fourth quarter of 2013 were related to the installation of seven fuel storage tanks for Targa Sound Terminal's Phase II expansion, construction of Catholic Community Services' four-story, 80-unit Nativity House, and Tacoma Art Museum's expansion project; —The unemployment rate dropped from 8.1 per
Construction activity, such as an expansion of the Tacoma Art Museum (above and right), contributed to Tacoma's fourth quarter economy, according to a financial report released by the City of Tacoma. cent to 7.3 per cent. Transportation/utilities, education and health services, professional and business services, and trade were the biggest areas of employment growth. The 46,300 jobs related to education and health services remained the largest employment cluster in Tacoma, and added 900 jobs, or two per cent, since the fourth quarter of 2012, according to the report. Professional and business services, with its 23,900 employees, grew by 700 positions, or three per cent, year over year. Collectively, warehouse/distribution, financial activities, and information technology added 400 jobs since the fourth quarter of 2012; —The City of Tacoma issued 60 new business licenses in the fourth quarter of 2013, which represents an 18.2 per cent increase when compared to the fourth quarter of 2012. This is attributable to construction activity, according to the report. The total number of
Brookdale Road project resumes Tuesday Posted online Fri., March 7 Construction on a project to replace a sewer main along Brookdale Road in Parkland will resume on March 11. Work is expected to be complete in 2016. Pierce County is replacing about 5,000 feet of pipe with a 72-inch diameter interceptor pipe. The existing 30-inch diameter sewer pipe is nearing its capacity of seven-million gallons per day, is heavily corroded, and is located in an area affected by high groundwater levels. Groundwater seeps into the sewer pipe, reducing its capacity to carry wastewater.
Work began on this project in October, but was suspended due to unfavorable conditions, according to Pierce County officials. NW Cascade is the project contractor. The project is funded by sewer ratepayer funds, and is expected to cost approximately $9.3 million. This work is part of Pierce County’s Sanitary Sewer Capital Improvement Plan. More information is available online at piercecountywa.org/sewerprojects.
business licenses grew by 747, or 3.2 per cent. Nine Small Business Enterprise (SBE) firms received contracts in the fourth quarter of 2012, as compared to 13 in the fourth quarter of 2013. The average size of contracts increased from $76,600 to $84,600. In the fourth quarter of 2013, a stormwater main replacement project at East 15th Street and St. Paul Avenue, as well as the landscaping portion of storm and sanitary sewer upgrades in Tacoma's North End were the largest SBE projects. Tacoma City Council's Economic Development Committee is scheduled to discuss the report during a meeting on Tues., March 11, at 10 a.m. at Tacoma City Hall, 747 Market St., Conference Room 248, in downtown Tacoma. Copies of the agenda and the Economic Indicators Summary are available online at cityoftacoma.org.