Ready for takeoff Meet the company bringing commercial air travel to Everett • 6-7

Market Facts 2018 The statistical profile of Snohomish County

2 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

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THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 3

TABLE OF CONTENTS

THANK YOU

to our investors! COURTESY OF WSU

These events that occurred in 2017 will shape the world of business in Snohomish County for decades to come. Pages 7-8

COVER STORY Thousands of details are going into the construction of the new air terminal at Paine Field, 6-7

BUSINESS NEWS

Taking stock of the publicly traded companies in Snohomish County. . . 5 A look at the major events in the county that will impact business. . 8-9 Leadership Snohomish County celebrates 20th anniversary . . . . . . 10 Snohomish County population could soon surpass 800,000. . . . . . . . . . . 12

STATISTICAL SNAPSHOT Breakdown of population by county, cities . . . . . . . . . . . . . . . . . . . . . . . . 13 Education, workforce training resources in Snohomish County . . . 14

Listing of banks with branches in county. . . . . . . . . . . . . . . . . . . . . . . 15 Wages, workforce averages for county. . . . . . . . . . . . . . . . . . . . . . . 16 Employment by sector over several years . . . . . . . . . . . . . . . . . . . . . . . . 17 Top public, private employers in county. . . . . . . . . . . . . . . . . . . . . . . 19 Unleaded gas and other energy prices over several years. . . . . . . . . 20 Selected social characteristics of county. . . . . . . . . . . . . . . . . . . . . . . 21 Commuting data for workers in county. . . . . . . . . . . . . . . . . . . . . . . 21 Selected demographic data for county in 2016. . . . . . . . . . . . . . . . . 23 Real estate prices for single-family homes, condos in 2017. . . . . . . 24-25 Housing permits in county over several years. . . . . . . . . . . . . . . . . . 26

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COVER PHOTO Propeller Airports CEO Brett Smith outside of the company’s Everett offices. Ian Terry / The Herald

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How to get to Wall Street from here By Jim Davis

The Herald Business Journal

Funko joined a select club when it went public in November. The Everett toys and collectibles company became one of only eight publicly traded businesses headquartered in Snohomish County. Companies often sell stock to raise money for future expansion. In Funko’s case, the company cited paying down debt as one of the reasons to start trading on the Nasdaq stock exchange. It’s ticker symbol FNKO. Over the years, the number of publicly traded companies in the county have grown or shrunk for a variety of reasons, said Tim Raetzloff, who owns Abarim Computers in Edmonds. He has been tracking local stocks since the mid-1990s and until 2010 produced the Snohomish County Stock Index. At first, he wanted to keep track of his suppliers in the computer industry. Then he started tracking fluctuations of stock prices for county companies. He’s seen the number of publicly traded companies balloon to 15 at one point. That’s been whittled away as some companies were taken private and others have closed down. During the recession, three publicly traded banks went away — the bank holding companies for Frontier, Cascade and CityBank. Companies can even move headquarters. That’s what happened with Marina Biotech, which was based in Bothell but recently moved to City of Industry in California. Funko is the most recent company in the county to hold an initial public offering, or a sale of stock in the company. Headquartered at 2802 Wetmore Ave. in Everett, the company makes figurines of pop culture characters, from Marvel and DC Comics to Disney. Funko also makes apparel, home decor and stuffed animals. It had a disappointing launch in November, when it initially valued its stock at $12 a share. The price of a share promptly fell to just over $7 on that first day of trading. The stock market rebounded in December. Still, Funko comes in fourth in size of publicly traded companies in the county in terms of market cap, which is the value of the company figured by multiplying the per-share price by the total number of outstanding shares. As of early December, the company had a market cap of $449.3 million. The biggest publicly traded company in the county, by far, is Fortive. A relatively new company, Fortive broke off from industrial giant Danaher and opened its headquarters in 2016 at the Fluke campus in Everett. Fortive, which trades on the New York Stock Exchange under the ticker symbol FTV, had a market cap of $25.3 billion. Fortive owns more than two dozen smaller industrial companies, including Fluke. It’s not only the biggest publicly traded company headquartered in the county, but it’s also one of the biggest in the state.

PHOTO COURTESY OF NASDAQ

Funko CEO Brian Mariotti took his company public in 2017, joining just a handful of publicly traded companies based in Snohomish County.

Taking stock These eight publicly traded companies are headquartered in Snohomish County. Market valuation is as of Dec. 5. Company

City

Fortive Seattle Genetics Zumiez Funko FS Bancorp BioLife Solutions Neah Power Systems Seen on Screen TV

Everett Bothell Lynnwood Everett Ml Terrace Bothell Bothell Everett

Ticker symbol FTV SGEN ZUMZ FNKO FSBW BLFS NPWZ SONT

Market cap

Value of shares

$25.354 billion $8.067 billion $521 million $449.3 million $212 million $71.56 million $1.8 million $421,562

$74.23 $57.88 $21.35 $9.71 $57.50 $5.29 $0.0008 $0.001

Source: U.S. Securities and Exchange Commission; Yahoo Finance

Raetzloff notes that Fortive, by December, surpassed Paccar to become the sixth-largest company based in the state. It’s still behind Microsoft, Amazon, Costco, Starbucks and Weyerhaeuser. The second biggest publicly traded company in Snohomish County is Seattle Genetics, based in Bothell. It had a market cap of $8.067 billion in early December. Seattle Genetics is a biotech firm that’s one of the biggest in the Pacific Northwest. It’s developing several lines of drugs, but already has its cancer-fighting drug, Adcetris, on the market. Adcetris is used to treat Hodgkin’s lymphoma. It’s traded under the symbol SGEN. Adcetris is approved only to be used on

Hodgkin’s lymphoma patients who have failed other treatments. Seattle Genetics is seeking approval from the Food & Drug Administration to allow the drug to be used as a frontline treatment. If approved, that could cause the company’s value to soar. The third-largest company is Zumiez, which is based in Lynnwood. The youth-oriented clothing retailer went public in 2005 and is traded under the symbol ZUMZ. The market cap for the company was $521 million in early December. Zumiez operates 695 stores, including 607 in the United States, 51 in Canada, 31 in Europe and six in Australia. The company markets apparel and footwear for

skateboaders, snowboarders and surfers. The only bank that’s publicly traded and still based in the county is 1st Security Bank in Mountlake Terrace. It’s holding company is FS Bancorp. The company comes in fifth in the county in terms of market size at $212 million as of early December. It trades under the ticker symbol FSBW. The bank held its initial public offering in 2012. BioLife Solutions comes in next with a market cap of $71.56 million as of early December. Like Seattle Genetics, BioLife Solutions is also a Bothell-headquartered biotech company. The company bills itself as the leading developer, manufacturer and marketer of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media. BioLife Solutions moved from Owego, New York, to Bothell a decade ago. The smallest two publicly traded companies in the county are Neah Power Systems and Seen On Screen TV. Neah Power Systems had a market cap value of $1.8 million in early December. The Edmonds company aims to change the way that batteries are made, used and perform. Seen On Screen TV is based in Everett and has a market cap of under a half million dollars. Seen On Screen TV bills itself as a global retailer selling products through websites and direct-response television advertising.

6 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

COVER STORY

Air terminal is going to be ‘special’ Propeller CEO is shepherding thousands of details that go into look, feel of the project By Jim Davis

The Herald Business Journal

B

rett Smith has traveled a lot in his career. He’s been in and out of airports across the country. That’s given him valuable experience for his task at hand — developing Everett’s airport terminal. Smith is the founder and CEO of Propeller Airports, a for-profit company that’s building the commercial terminal at Paine Field. The terminal is scheduled to be finished in July and open in September. Two airlines, United and Alaska, have committed to flying out of it. In his travels, he’s seen beautiful, successful airports and ones that miss the mark. “The ones that are really good, a lot of thought has gone into it,” Smith said. “I can tell you that’s what I spend all of my time thinking about — Paine Field. It’s easy to put up a terminal, it’s hard to do it right.” The 27,000-square-foot, two-gate terminal between Paine Field’s administrative offices and the airport control tower was designed by Denver-based Fentress Architects and is being built by Fisher Construction Group of Burlington. The terminal should be popular. It can take an hour and a half or longer to get from Snohomish County to Seattle-Tacoma International Airport, the closest airport with scheduled air service. And Sea-Tac is becoming more crowded each year. Sea-Tac went from being the 13th-busiest airport in the U.S., with 20.1 million travelers in 2015, to the ninth-busiest, with 21.9 million travelers in 2016, according to data from the Federal Aviation Administration. Smith is not saying how much is being spent to build the Everett terminal. This is the first commercial passenger terminal for Propeller, which is leasing 11 acres from Snohomish County at Paine Field in exchange for $429,000 per year in rent, plus a share of flight and parking revenues. Smith has his hands in the thousands of details behind the look and feel of the terminal. He describes the project as having “a lot of glass, a lot of Pacific Northwest in it, a lot of wood, we really want it to match the region.” He also wants this airport to be one people choose not just because of proximity but also experience. He envisions the experience like that of

IAN TERRY / THE HERALD

CEO and founder of Propeller Airports, Brett Smith, stands in the construction site of his company’s new commercial airport terminal at Paine Field in Everett.

a hotel — people walk through the door into a lobby to meet a concierge. “Once you’re past security, you’ll walk into what looks like a living room with two fireplaces and a bar and a place to get something to eat,” Smith said. “There will be huge glass windows, you can look out onto the mountain range. I think it’s going to be special.” The terminal will feature two jet

bridges at the gates. Many smaller airports have people walk across the ramp to board the plane. That would save Propeller money. But it would also create a problem for travelers. “It rains a lot,” Smith said. “I don’t want people to go outside.” In fact, Propeller is splurging on glass jet bridges. “There’s such beautiful scenery, we’re

taking the extra step, we’re spending the extra money for glass so that by the time you walk into the terminal until the time you board the planes it will be pleasant experience,” he said. Building an air terminal from the ground up means the design can include the latest technology. For instance, he notes that most airports have only a handful of USB ports,

COVER STORY with small crowds huddled around them, trying to recharge their phones and devices. “You won’t have to do that here,” Smith said. “We’re doing painstaking measures to make sure every seat has it.” He’s not naming names for the restaurant or bar, but he said it won’t be what is seen in every airport. He said there will also be at least one or two coffee kiosks. “Can you not have a coffee bar in Seattle?” he joked. He said he’s been approached by car rental companies but hasn’t made any decisions on which ones will be in the terminal. Propeller is still determining the number of parking spaces. It will be a lot, not a parking garage. The company plans to offer valet parking. As a private company, Smith is trying to determine conveniences that travelers and business folks will be interested in. Maybe that means that travelers drop off their car with their laundry. When they return, they pick up their car and their freshly laundered clothing. Still, he notes there’s a balance between offering desired services and nickeling-and-diming customers. He wants to offer what travelers value and avoid making it feel like they’re opening their wallet at every turn. For instance, most airports charge a couple of dollars to lease luggage carts. The air terminal in Everett will offer the carts for free, Smith said. “We really want our customers to feel like they’re getting value for their money,” Smith said. Most of the airports in the U.S. are owned and operated by counties, cities or ports. Around the world, other airports have privatized such as Heathrow in London. Smith started in the software business, and he said he liked the business but he didn’t love it. Starting a business to build private airports is something he’s found that he loves. His company was looking for a place to build a private commercial air terminal and contacts at airlines mentioned Snohomish County. He then was approached by business people in the community. He flew in to stay at a hotel late on a Sunday night and drove from Sea-Tac to Mukilteo. “There’s no traffic at 10 o’clock on Sunday night, you can get here pretty quick if there’s zero traffic,” Smith said. “I was like, ‘Will this work?’ The next day, I missed three flights sitting in two hours of traffic and I’m like, ‘Now I understand.’” United announced six daily flights to its hubs in Denver and San Francisco. Alaska plans up to nine daily flights, but

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 7

ARTIST RENDERINGS COURTESY OF PROPELLER AIRPORTS

The two-gate airport terminal being built by Propeller Airports at Paine Field will include two fireplaces, a bar and a restaurant and a full glass panel wall that will look onto the Olympic Mountains.

“The ones that are really good, a lot of thought has gone into it. ... It’s easy to put up a terminal, it’s hard to do it right.” — Brett Smith, Propeller Airports isn’t likely to announce specific destinations until early this year. Some possible contenders are thought to include Portland, Spokane, the Bay Area and southern California. Propeller has already reached out to Everett Transit and is planning a way for buses to drive to the airport and turn around, said Sabina Popa, program manager for the agency. Everett Transit already has one route that goes there throughout the day. Community Transit also has one route that stops by the new airport terminal, said Martin Munguia, a spokesman of the agency. The frequency of the route could go up once the airline schedules are released. Also, Community Transit is planning a Swift Line with stops several times an hour outside the terminal.

Alaska and United airlines have committed to flying out of the commercial passenger terminal at Paine Field. United plans to fly to hubs Denver and San Francisco. Alaska hasn’t announced its destinations.

Sound Transit is planning a light rail route that will run to the Boeing plant near Paine Field. Where the light-rail terminal will end — and how close it will be to the airport terminal — will be planned in 2020. Smith is cognizant that this terminal will serve thousands of Snohomish County travelers. “Seattle is not going to be listed in our

terminal. However, with that said, when you go to Expedia or go directly to Alaska (on the web), it will give you an option for all local airports,” Smith said. Inside the terminal, all signage will be about Everett. “This is Everett’s airport and that’s the end of it,” Smith said. Jim Davis: 425-339-3097; jdavis@ heraldnet.com; @HBJnews.

8 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

YEAR IN REVIEW

Changing the business world forever Major news events in 2017 will impact the world of business in Snohomish County for decades to come By Jim Davis

Herald Writer

Each of these stories made major headlines in 2017, and the impacts will have a ripple effect in Snohomish County for years. Washington State University opened its Everett campus. Boeing started 777X production. Ground was broken for a commercial air terminal at Paine Field. The campus brings a major employer and attracts talent and youth to Everett. The plant ensures Boeing will retain a presence in the county for years to come. The terminal adds a vital transportation link that will help attract future businesses. The significance of each will be measured in the years to come. Here’s a look back at the biggest business news for the county in the past year:

1. WSU opens campus in Everett Very few things can change the face of a community like a college campus. That’s what Snohomish County leaders are banking will happen with WSU opening its doors in Everett. There’s an energy and excitement with a campus and the students it attracts. The fact that colleges double as a major employer is also a bonus. The four-story, $64.6 million glassand-brick building opened in August. The inaugural class of students started classes just days later. It’s small today. Only about 500 students are taking classes through WSU and its partner universities. But the campus building is big enough to grow to twice that number of students in the future. There already are discussions about the campus growing beyond this first building. Travel to any community with a college campus — Bothell, Bellingham, Tacoma — to see what the institution means to the surrounding community. Everett’s WSU campus is offering programs to complement existing businesses in the community — mechanical, electrical and software engineering, for instance. Some of the students taking those classes could begin their own businesses, creating the jobs far into the future.

2. Boeing starts production on 777X Boeing opened its first manufacturing

IAN TERRY / THE HERALD

Dr. Larry Schecter (left), associate dean for WSU North Puget Sound’s medical education programs, walks down the central staircase with Chancellor Paul Pitre at Washington State University Everett. The campus, which opened in 2017, will attract youth and talent to Everett and Snohomish County.

3. Air terminal cleared for takeoff at Paine Field

DAVE RZEGOCKI / THE HERALD

Boeing employees attend a gala at the composite wing center in October. The 777X started production in 2017, meaning that Boeing will retain a presence in Snohomish County for decades.

plant in Everett 50 years ago. With the new 777X program, it could be here for another 50. The aerospace company started assembly of the new wide-body jet at a stateof-the-art plant at the Everett factory at Paine Field. Test flights are expected in 2019, with delivery to airlines in 2020. The 777X builds on some innovations of the 787 that first flew in 2009. The aircraft will have the longest composite wings of any plane in the skies. Boeing agreed to build the 777X in

Everett after securing concessions from union machinists and state tax breaks that are expected to save the company an estimated $8.7 billion over several years. The company has said that 3,250 employees are expected to work on the program by 2018. Boeing workers realized the importance of the moment for the company as well as Everett and Washington. “I just wanted to be able to be a part of something that will help Boeing continue on for the next century,” rear spar mechanic Nick Just said.

It’s been a controversial topic for years in Snohomish County. Should a commercial air terminal open at Paine Field? This year, privately owned Propeller Airports got the OK to build the terminal. Alaska and United airlines both signed up to start flying out of Everett as soon as it opens. The scheduled opening is September. All of a sudden, travelers will no longer need to drive to Sea-Tac — a trip that can take a couple of hours or more from Everett. That’s appealing for business travelers who make up a large number of the passengers on many flight. It won’t be the deciding factor if a company decides to locate in Snohomish County or chooses to relocate elsewhere. But it could be one of the factors in any decision by a business.

4. Developer convicted of defrauding investors Lobsang Dargey will leave a legacy in Everett. During the recession, at a time when little development was occurring in the city, Dargey built a Potala Village, a mixed-use apartment and retail building, in downtown Everett. Then he started building Potala Place, another mixed-use project just a few blocks away. He had other projects in Seattle and the Eastside. From 2012 to 2015, Dargey and associ-

YEAR IN REVIEW

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 9

ates raised $153.6 million from 282 Chinese investors. He was gaining a reputation for getting things done. But he was also defrauding investors and misusing tens of millions of dollars on trips to casinos and on personal purchases, including jewelry and a luxury home. In August, Dargey was sentenced to four years in prison and agreed repay $24.1 million to investors.

5. Median home sale price surpasses $400,000 For the first time, the median price for a homes climbed past $400,000 in Snohomish County. It broke that barrier in April and remained there through the fall. Location, of course, dictates prices, with homes closer to Seattle in the south county costing far more than homes in the north part of the county. But everywhere, home sale prices are higher now than before the recession. That’s led to questions about a housing bubble. One statistic that leads economists to downplay bubble fears: The area has seen a rapid growth, with more than 100,000 people moving into the county just in 10 years. That’s almost like adding another city of Everett.

IAN TERRY / THE HERALD

More than 2,000 people show up for a party with the opening of Funko’s flagship store in downtown Everett. The toys and collectibles company moved its headquarters to the downtown core in 2017.

6. Tulalips plan to build $100 million casino The Tulalip Tribes is one of the largest employers in Snohomish County. And many of those employees work at the tribes’ two casinos in Tulalip. This year, the tribes announced plans to spend $100 million on a replacement for Quil Ceda Creek Casino, the smaller of the two. The new casino will be 110,000-squarefeet on 15 acres across the street from the existing casino, at 6410 33rd Ave. NE in Tulalip. The casino will feature new entertainment and dining options, a spacious gaming floor and a 1,200-stall garage with a fast-ramp access. “About 68 percent of our workforce is non-tribal,” said Teri Gobin, vice chairwoman for the tribes. “What our businesses have done, what the casino has done, has not only benefited our community, it’s also benefited the surrounding communities and all of those businesses that have come up.”

7. A party the likes of which Everett had never seen It’s not every day that a company moves its headquarters to downtown Everett. And not very many companies are like Funko. The toys-and-collectibles maker went from a nondescript warehouse in a south Everett business park to the former Trinity Lutheran College, bringing a couple hundred creative workers to the city core. The company also opened a flagship store, a destination attraction with giantsized figures of pop culture characters, such as Marvel’s Spider-Man, Disney’s Malificient and Chewbacca of “Star Wars” outside. On the inside are worlds

to sell the medical group to kidney dialysis giant DaVita for $405 million. The deal was completed in 2016. The Everett Clinic kept its name and joined a corporation with deep pockets to fund expansion in the Puget Sound area. Just more than a year later, DaVita decided to get out of the medical group business. It struck a deal, pending regulatory approval, to sell all its medical groups, including The Everett Clinic, to Minnesota-based health insurer UnitedHealth Group. What this means for The Everett Clinic and its providers and patients remains to be seen.

CONTRIBUTED PHOTO

Construction was underway in 2017 on a major redevelopment of the Port of Everett’s central waterfront. The project is expected to bring a hotel, housing and shops to the area.

devoted to the best and geekiest of pop culture. Funko held a party for the grand opening, attracting celebrities and thousands of people from all over the world. That wasn’t all for this homegrown business. Funko’s CEO and president, Brian Mariotti, also took his company public in early November.

8. Port signs developers for housing, retail at waterfront Ten years ago, the Port of Everett worked with a developer on an ambitious plan to bring hundreds of condos to the Everett waterfront. Then the recession hit, and those plans fell apart. With the housing market recovered,

the port is again looking to bring people and businesses to the waterfront. The port wants to redevelop the central waterfront, and the project gained traction this past year as companies signed on to build a hotel and apartments and bring a mix of restaurants and shops. The waterfront development and scores of homes already being built along the Snohomish River could add hundreds of homes to the city of Everett on opposite sides of downtown.

9. The Everett Clinic sold for second time in two years The Everett Clinic was the largest independent medical group in Washington. That changed in 2015. The 250 physician-shareholders agreed

10. Everett Mall sold to California company Malls have been taking it on the chin in recent years with the rise of online retail. The Everett Mall is no different. The Macy’s store at the mall closed in the first few weeks after the 2016 holiday season. The storefront remained empty later in 2017. At least one company saw opportunity. California real estate investment firm Brixton Capital announced in October that it had purchased the mall for an undisclosed price. The 490,949-squarefoot mall, at 1402 SE Everett Mall Way, includes Sears, Regal 16 Cinemas, Burlington Coat Factory, Party, LA Fitness and other businesses. Jones Lang LaSalle Americas was selected to manage and lease the property. “Brixton Capital is very excited about the growth in the area and the long term sustainability of Everett Mall,” said Glen Bachman, the mall’s general manager, at the time of the sale. “We look forward to working with the new ownership to develop new strategies for the property.”

10 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

Two decades of creating new leaders Leadership Snohomish County is celebrating its 20th anniversary this year By Jocelyn Robinson

For The Herald Business Journal

In the 20 years since Leadership Snohomish County formed, more than 600 people have made their way through the program. The goal of these alumni? To make Snohomish County a better place to live, work and play. Kathy Coffey, who has served as Leadership Snohomish County’s executive director for four years, believes those graduates will make an effort to improve their community. “We’ve created a network of individuals that care about where they live and want to make s difference,” she said. Board member Kurt Hintze said the program started in its current form in 1997 when several key leaders realized that the same people were on all of the boards and started to wonder who would replace them. Representatives of several local organizations, including the Boeing Co., the Chamber of Commerce and the United Way, came together to develop a leadership program modeled after similar programs across the state and the country. The program got to a turning point around 2005, Hintze said. At that time, recruitment into the program had started to lag. “The focus was on the class and not on how we could get a broader reach for the program,” said Hintze, who graduated from the program in 2003. The board developed the executive director position and eventually branched into its own nonprofit. Coffey was hired into the executive director role four years ago. Coffey came to Leadership Snohomish County after working in the academic field for 16 years. The executive director position turned out to be a good fit for her. “It aligns with my skill set and passion for community-building,” she said. “I’m helping people see their strengths and learning how to empower them. My definition of leadership is the empowering of others to make a difference in they best way the can.” Coffey noted that the outreach into the program had become somewhat Everett-centered in the early 2000s, with people in the program just one degree of separation from the Leadership Snohomish County board of directors. The program underwent a change in its application process; now, anyone can nominate anyone in the community. Coffey believes that has expanded the nonprofit’s reach. In addition, nominees often feel appreciated knowing that someone else has noticed their work. “People don’t take the time to say, ‘I

ANDY BRONSON / THE HERALD

Leadership Snohomish County Executive Director Kathy Coffey says people who take leadership roles in the community tend to stay in the community.

“All the work that leaders in the community are doing make this a healthier, more vibrant community for people.” — Angela Neubauer Edmonds Center for the Arts think you’re great,’” Coffey said. Since 2005, the number of applicants into the program has steadily increased. This year, there were 83 nominations for 65 spots in Leadership Snohomish County’s signature class. “It just grows every year because our economy is growing, with 200,000 people moving here in the next 10 years,” she said. LSC offers two classes for applicants: the Signature class, which is mostly for upper level managers, and the young professionals class, for people who may be in a mid-level management role. The young professionals class started seven years ago as a pilot program within Boeing. The class offers students the chance to learn how to manage and learn how to hone their leadership skills. Students do reading and develop a nonprofit project. “Once you’re involved in that work and you’ve done service, your chances of staying (in the community) increase because you have friends,” she said. “You understand where you are.” Leadership Snohomish County’s Sig-

nature program offers once a month classes on the different sectors in Snohomish County, including the courts, arts and heritage and health care. Angela Neubauer, the development manager at Edmonds Center for the Arts, graduated from the program this past summer. The connections she’s made through the program have been beneficial to her work, she said, as are the once-amonth luncheons Leadership Snohomish County holds for its alumni. Neubauer has researched the history of the program and said the idea for may actually stretch back to the early 1980s, when articles of incorporation were filed for a similar program. “The dedication to this work has really been alive in Snohomish County for quite a while now,” Neubauer said. Her research has led her to interview alumni from the program and others who have been involved throughout the years. Her favorite quote from one of her interviews was that “healthy communities don’t happen by accident.” “I think that is so true,” Neubauer said.

By the numbers 215 Community Impact Projects 23,650 hours of time to Snohomish County organizations 600 Alumni of the Signature and Young Professionals Programs 124 organizations have sent their employees through the program “All the work that leaders in the community are doing make this a healthier, more vibrant community for people.” Leadership Snohomish County plans to continue that work into the next 20 years, as more and more people move to Snohomish County. The board is planning an event for next April that takes a look at the next 20 years in the region. “It’s about who we are now and where we are going,” Coffey said. “Then once we define that, how do we build the bridge to get to that vision of where we’re going to be. “The Economic Alliance is really great at bringing businesses to our region to give the people who are moving here jobs,” she added. “But we need to make sure that those people have a place to live that’s desirable, with people invested in the community and it’s future. So we have to work together to get that done.”

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 11

Snohomish County Employers

20,500 287,000 businesses

2

workers

By Employee Size share of employment

1

share of businesses

7.7%

0-4

66.6%

5-19

16.2%

29.4%

500+

9.0%

total jobs

Tulalip

29%

2,950

Top 10 Employers

Everett

Lake Stevens

Snohomish County Monroe

home to these corporations and brands fujifilm sonosite • philips healthcare • premera blue cross

6

Sultan

Lynnwood Edmonds snohomish county government

9

10

2,617 walmart 8 locations

2,312

Source: WA Employment Security Department

cascade coffee • electric mirror • funko • fortive

washington state government

includes colleges and Monroe Correctional Complex.

Marysville

goods-producing

Agriculture & Fishing 1% Fabricated Metal 5% Computer and Electronic 6% Other Manufacturing 12% Const., Mining & Logging 26% Aerospace 50%

5

3,200

Arlington

24% Trade, Transport, Utilities 20% Government 17% Education & Health Services 13% Leisure & Hospitality 13% Prof. & Business Services 5% Financial Services 5% Other Services 3% Information

287,000

2,987

Darrington

By Industry

serviceproviding

naval station everett

the tulalip tribes

Stanwood

0.2%

71%

3

34,500

100-499 1.4%

19.3%

4,775

the boeing company

22.8%

20-99

27.4%

4

providence regional medical center

the everett clinic

2,255

rick steve’s europe • SEATTLE GENETICS • zumiez

8 premera blue cross

2,600

7 edmonds school district

2,605

Snohomish County capitalizes on HQ2 RFP By: Patrick Pierce

OUR MISSION Economic Alliance Snohomish County exists to be a catalyst for economic vitality resulting in stronger communities, increased job creation, expanded educational opportunities, and improved infrastructure.

advocate • develop • connect (P) 425.743.4567 • info@economicalliancesc.org 808 134th St SW, Suite 101 • Everett, WA 98204 economicalliancesc.org

The dust has settled after the flurry caused by Amazon’s Second Headquarters (HQ2) search; amongst the 238 proposals was the Puget Sound Regional Proposal. Economic Alliance Snohomish County (EASC) partnered with counties, cities, educational institutions, and Tribes to showcase Snohomish County’s numerous assets. You may be thinking why bother? EASC recently conducted hundreds of interviews and surveys from business owners and community leaders. Two reoccurring themes emerged: continue to diversify our economy and promote our county’s growing number of assets. Capturing a share of the booming tech economy exploding in the region was not lost on anyone as both a means and ends to these goals. HQ2 provided an opportunity to promote our assets and exceptional sites in regional and national media, including a broadcast from the Arlington-Marysville Manufacturing Industrial Center, one of the largest

industrial properties in the entire region. Snohomish County is respected for its forthcoming commercial air service at Paine Field, the strength of our college and university system, over multi-billion road and transit investments, the relative affordability of our region, and our natural beauty. Our county continues to have strong aerospace and medical device industries, with over 36 and 12 times the national average of jobs, respectively. These industries make Snohomish County the center of innovation and help attract new industries (tech companies) which diversify our industry base and help our businesses compete globally. Submitting a proposal for HQ2 allowed us to highlight key sites for not only Amazon but other tech companies and leverage our assets. Yes HQ2 may be a long shot, but if we don’t “play” the game, we will never win. 2005307

12 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

POPULATION

County population could pass 800,000 More than 100,000 people have moved to Snohomish County in just 10 years By Jim Davis

The Herald Business Journal

It’s just a number, but it’s a big number: 800,000. Snohomish County could reach that in population this year — if it

hasn’t already — if growth patterns keep pace with recent years. The county has been adding thousands of people each year, according to the Census and the Washington State Office of Financial Management.

The county has added just more than 100,000 people — that’s about the size of the city of Everett — during the past decade. The county saw a lull in growth during the recession, but has been gaining about 16,000 people each of the last three years. The county reached 789,400 people last year, according the state’s Office of Financial Management. To put that in perspec-

tive, Snohomish County is larger than four states — Wyoming, Vermont, Alaska and North Dakota — as well as the District of Columbia. The county seems likely to continue to grow. According to the Office of Financial Management, every city in Snohomish County gained at least some in population from 2015 to 2016. Large apartment complexes are being added in

Lynnwood, Mountlake Terrace and other south county cities. Everett is adding large housing developments both along the Snohomish River and potentially along the waterfront. The North Creek area between Mill Creek and Bothell has been labeled the hottest housing market in the state. The county labels this as a challenge in one of its recent reports on growth

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patterns. Growth hasn’t moved enough into cities such as Everett, Lynnwood and Bothell, which have services to handle growth. Instead, most of the population growth in the county — 53 percent between 2011 to 2016 — has been added in unincorporated parts of the county. In the past decade, growth slowed during the recession, but has picked up steam in the past three or four years. Since 2010, the county is averaging 10,886 new residents per year, according to the county. That’s only slightly more than the 10,731 new residents the county averaged between 2000 to 2010. And it’s also lower than the previous two decades; the county grew by 14,040 on average between 1990 and 2000 and 12,791 between 1980 and 1990. Percentage wise, the biggest growth gains for the county occurred between the 1950s and 1970s when the county grew at a clip of 4.4 percent each year. The county has grown at a more modest 1.5 percent since 2010. The county has added 13 percent of the state’s total population from 2010 to 2017, according to the county using figures from the Census and Washington State Office of Financial Management. Snohomish County remains the third largest county in the state behind King and Pierce counties. King County had a population of 2.153 million last year. Pierce County, which went over 800,000 in 2010, had a population of 859,400 last year. Snohomish County ranks as the 79th largest county in the U.S. and the 22nd largest county in the West. In the Pacific Northwest, including Washington, Alaska, Oregon and Idaho, the county ranks as the fourth largest county behind King, Pierce and Multnomah counties.

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 13

SNOHOMISH COUNTY POPULATION, 2007-2017 Municipality

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

Snohomish County

789,400

772,860

757,600

741,000

730,500

722,900

717,000

713,335

705,894

699,330

689,314

Unincorporated Snohomish County

349,800

338,995

330,260

320,335

312,500

308,445

304,435

302,292

329,476

326,382

321,055

Incorporated Snohomish County

439,600

433,865

427,340

420,665

418,000

414,455

412,565

411,043

376,418

372,948

368,259

Arlington

18,690

18,620

18,490

18,360

18,270

17,970

17,930

17,926

17,711

17,527

17,094

Bothell (part)

17,510

17,390

17,230

17,020

17,020

16,720

16,570

16,415

16,290

16,009

15,723

Brier

6,560

6,555

6,500

6,345

6,315

6,155

6,100

6,087

6,126

6,163

6,202

Darrington

1,400

1,350

1,350

1,350

1,350

1,345

1,345

1,347

1,365

1,371

1,380

Edmonds

41,260

40,900

40,490

39,950

39,950

39,800

39,800

39,709

39,846

39,828

39,758

Everett

109,800

108,300

105,800

104,900

104,200

103,300

103,100

103,019

102,520

101,413

100,980

Gold Bar

2,125

2,125

2,115

2,085

2,080

2,060

2,060

2,075

2,061

2,134

2,109

Granite Falls

3,485

3,395

3,390

3,390

3,385

3,380

3,370

3,364

3,359

3,274

3,186

Index

175

165

160

180

180

180

180

178

166

165

166

Lake Stevens

31,740

30,900

29,900

29,170

28,960

28,510

28,210

28,069

15,483

15,233

13,996

Lynnwood

36,950

36,590

36,420

36,030

35,960

35,900

35,860

35,836

35,430

35,411

35,279

Marysville

65,900

64,940

64,140

62,600

62,100

61,360

60,660

60,020

39,628

39,019

37,875

Mill Creek

19,960

19,900

19,760

18,780

18,600

18,450

18,370

18,244

18,036

17,526

17,442

Monroe

18,350

18,120

17,620

17,660

17,510

17,390

17,330

17,304

17,272

17,038

16,701

Mountlake Terrace

21,290

21,090

21,090

20,530

20,160

20,090

19,990

19,909

20,009

20,084

20,082

Mukilteo

21,240

21,070

20,900

20,540

20,440

20,360

20,310

20,254

20,210

20,161

20,049

Snohomish

10,010

9,625

9,385

9,270

9,220

9,215

9,200

9,098

8,926

8,841

8,829

Stanwood

6,785

6,635

6,585

6,530

6,340

6,300

6,220

6,231

6,073

5,885

5,593

Sultan

5,030

4,860

4,680

4,665

4,660

4,660

4,655

4,651

4,624

4,600

4,564

Woodway

1,340

1,335

1,335

1,310

1,300

1,310

1,305

1,307

1,283

1,266

1,251

SOURCE: WASHINGTON STATE OFFICE OF FINANCIAL MANAGEMENT

Count The Ways Your Business Can Save! Snohomish County PUD is here to help every type of business – large and small – find energy savings to help reduce your operating costs. Check our website or call for details about our rebates and custom incentives for: 1. HVAC & Controls, Heat Pumps & Thermostats 2. Advanced Rooftop Controllers & Variable Speed Drives 3. Compressed Air, Process Systems, & Engine Block Heaters 4. Refrigeration & Commercial Kitchen Equipment 5. Insulation & Windows (for electrically heated facilities) 6. Other Energy-Saving Opportunities

snopud.com • 425.783.1700 2005309

14 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

EDUCATION AND WORKFORCE TRAINING Four-Year Universities Washington State University Everett Offers seven bachelor’s degrees available for juniors and seniors at a campus that opened in 2017. Phone: 425-405-1600 Email: everett.admission@wsu.edu Address: 915 N Broadway Everett, WA 98201 Website https://everett.wsu.edu/

Central Washington University-Lynnwood Partnership allows students to earn first two years of a bachelor’s degree at community college and complete a bachelor’s degree at CWU-Lynnwood. Phone: 425-640-1574 Email: cwu_lynnwood@cwu.edu Address: Snoqualmie Hall 20000 68th Ave. W Lynnwood, WA 98036 Website: www.cwu.edu/lynnwood/

Community Colleges

University of Washington Bothell

Everett Community College

Fastest-growing four-year public university with more than 5,000 students and 45 undergraduate and graduate degree programs. Phone: 425.352.5000 Email: uwbinfo@uw.edu Address: 18115 Campus Way NE Bothell, WA 98011-8246 Website: www.uwb.edu

Offers associate degrees in a variety of programs as well as transferable credits for up to 19,000 students a year. Phone: 425-388-9100 Email: admissions@everettcc.edu Address: 2000 Tower Street Everett, WA 98201 Website: www.everettcc.edu/

Edmonds Community College University Center of North Puget Sound Partnership of several colleges and universities to provide bachelor and graduate degrees for residents of north Snohomish, Island and Skagit counties. Phone: 425-405-1600 Email: everett.admission@wsu.edu Address: 915 N. Broadway Everett, WA 98201 Website: https://everettuc.org/

Offers one bachelor of applied science degree, 63 associate degrees and 64 professional certificates with more than 10,000 students a year. Phone: 425-640-1459 Email: admissions@edcc.edu Address: 20000 68th Ave. W Lynnwood, WA 98036 Website: www.edcc.edu/

Cascadia Community College Newest community college in the state,

which shares a campus with the UW Bothell and had an enrollment of 4,764 students in 2014-15. Phone: 425.352.8000 Email: info@cascadia.edu Address: 18345 Campus Way NE Bothell, WA 9801 Website: www.cascadia.edu

Aerospace-Advanced Manufacturing Training Advanced Manufacturing Training & Education Center Phone: 425-388-9570 Email: mfg@everettcc.edu Address: 909 N. Broadway Everett, WA 98201 Website: www.everettcc.edu/ccec/amtec

Center of Excellence for Aerospace and Advanced Manufacturing Phone: 425-388-9454 Address: 9711 32nd Place West, Bldg. C-80 Paine Field Everett, WA 98204 Website: www.coeaerospace.com

Washington Aerospace Technical Training and Research Center Phone: 425-347-8928 Email: watrc@edcc.edu Address: 3008 100th St. SW Everett, WA 98204

Website: washingtonaerospace.com

Embry-Riddle Aeronautical University Phone: 425-259-8939 Email: Everett@erau.edu Address: Embry-Riddle Aeronautical University C/O Applied Technology Training Center 2333 Seaway Blvd. Room 226 Everett, WA 98203 Website: https://worldwide.erau.edu/ locations/everett/

Workforce Training Workforce Snohomish Develops a plan that meets the needs of employers and job-seekers, sets standards for workforce training providers and oversees WorkSource Centers Phone: 425-921-3423 Address: 808 134th St. SW, Suite 105 Everett, WA 98204 Website: www.workforcesnohomish.org

Washington Workforce Training and Education Coordinating Board Oversees a workforce development system that includes 16 education and training programs. Phone: 360-709-4600 Email: workforce@wtb.wa.gov Address: 128 10th Avenue SW Olympia, WA 98504-3105 Website: http://wtb.wa.gov/ SOURCE: SNOHOMISH COUNTY

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THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 15

SNOHOMISH COUNTY BANKS 1st Security Bank of Washington 6920 220th St. SW, Ste. 300, Mountlake Terrace, WA 98043 Website: www.fsbwa.com Branches (Snohomish County): 4 Deposits (Snohomish County): $384 million Market share: 3.32 percent CEO: Joseph Adams

Bank of America 100 N Tryon St., Charlotte, NC 28202 Website: www.bankofamerica.com Branches (Snohomish County): 21 Deposits (Snohomish County): $2.56 billion Market share: 22.1 percent CEO: Brian T. Moynihan

Bank of Hope 3200 Wilshire Blvd., Suite 1400, Los Angeles, CA 90010 Website: www.bankofhope.com Branches (Snohomish County): 2 Deposits (Snohomish County): $192 million Market share: 1.66 percent CEO: Kevin S. Kim

Banner Bank 10 S. First Ave., Walla Walla, WA 99362 Website: www.bannerbank.com Branches (Snohomish County): 6 Deposits (Snohomish County): $186.5 million Market share: 1.61 percent CEO: Mark J. Grescovich

Coastal Community Bank 2817 Colby Ave., Everett, WA 98201 Website: www.coastalbank.com Branches (Snohomish County): 10 Deposits (Snohomish County): $578 million Market share: 5 percent CEO: Eric Sprink

Columbia State Bank 1301 A St., Tacoma, WA 98402 Website: www.columbiabank.com Branches (Snohomish County): 5 Deposits (Snohomish County): $122 million Market share: 1.06 percent CEO: Hadley S. Robbins

First Interstate Bank 401 North 31st St., Billings, MT

Website: www.firstinterstatebank.com Branches (Snohomish County): 1 Deposits (Snohomish County): n/a Market share: n/a CEO: Edward Garding

First Financial Northwest Bank 201 Wells Ave. S, Renton,WA 98057 Website: www.ffnwb.com Branches (Snohomish County): 2 Deposits (Snohomish County): $39.5 million Market share: 0.34 percent CEO: Joseph W. Kiley III

Heritage Bank 201 Fifth Ave., SW, Olympia,WA 98501 Website: www.heritagebanknw.com Branches (Snohomish County): 8 Deposits (Snohomish County): $417 million Market share: 3.61 percent CEO: Brian Vance

HomeStreet Bank 601 Union St., Ste. 2000, Seattle, WA 98101 Website: www.homestreet.com Branches (Snohomish County): 4 Deposits (Snohomish County): $223 million Market share: 1.93 percent CEO: Mark Mason

JPMorgan Chase Bank 1111 Polaris Parkway, Columbus, OH 43240 Website: www.jpmorganchase.com Branches (Snohomish County): 25 Deposits (Snohomish County): $1.76 billion Market share: 15.2 percent CEO: James Dimon

KeyBank National Association 127 Public Square, Cleveland, OH 44114 Website: www.key.com Branches (Snohomish County): 18 Deposits (Snohomish County): $582 million Market share: 5.04 percent CEO: Beth Mooney

Mountain Pacific Bank 3732 Broadway, Everett, WA 98201 Website: www.mountainpacificbank.com Branches (Snohomish County): 2 Deposits (Snohomish County): $187 million

The Bank of Washington

Market share: 1.62 percent CEO: Mark Duffy

MUFG Union Bank 400 California St., San Francisco, CA 94104 Website: www.unionbank.com Branches (Snohomish County): 7 Deposits (Snohomish County): $498 million Market share: 4.30 percent CEO: Stephen Cummings

Opus Bank 19900 Macarthur Blvd., 12th Floor, Irvine, CA 92612 Website: www.opusbank.com Branches (Snohomish County): 9 Deposits (Snohomish County): $497 million Market share: 4.30 percent CEO: Stephen H. Gordon

Pacific Crest Savings Bank 3500 188th St., SW, Ste. 575, Lynnwood, WA 98037 Website: www.paccrest.com Branches (Snohomish County): 1 Deposits (Snohomish County): $169.1 million Market share: 1.46 percent CEO: Sheryl Nilson

Peoples Bank 3100 Woburn St., Bellingham, WA 98226 Website: www.peoplesbank-wa.com Branches (Snohomish County): 5 Deposits (Snohomish County): $144.5 million Market share: 1.25 percent CEO: Charles LeCocq

Skagit Bank 301 East Fairhaven Ave., Burlington, WA 98233 Website: www.skagitbank.com Branches (Snohomish County): 1 Deposits (Snohomish County): $48.9 million Market share: 0.42 percent CEO: Cheryl R. Bishop

Sound Community Bank 2001 Fifth Ave., Seattle, WA 98121 Website: www.soundcb.com Branches (Snohomish County): 1 Deposits (Snohomish County): $41.7 million Market share: 0.36 percent CEO: Laura Lee Stewart

5901 196th SW, Lynnwood, WA 98036 Website: www.the-bank.com Branches (Snohomish County): 4 Deposits (Snohomish County): $140 million Market share: 1.21 percent CEO: Marty Steele

U.S. Bank 425 Walnut Street, Cincinnati, OH 45202 Website: www.usbank.com Branches (Snohomish County): 12 Deposits (Snohomish County): $710 million Market share: 6.14 percent CEO: Andrew Cecere

Umpqua Bank 445 SE Main Street, Roseburg, OR 97470 Website: www.umpquabank.com Branches (Snohomish County): 2 Deposits (Snohomish County): $85.9 million Market share: 0.74 percent CEO: Raymond P. Davis

UniBank 19315 Highway 99, Lynnwood,WA 98036 Website: www.unibankusa.com Branches (Snohomish County): 1 Deposits (Snohomish County): $85 million Market share: 0.73 percent CEO: Daniel C. Lee

Washington Federal 425 Pike St., Seattle, WA 98101 Website: www.washingtonfederal.com Branches (Snohomish County): 8 Deposits (Snohomish County): $393.6 million Market share: 3.4 percent CEO: Roy M. Whitehead

Wells Fargo Bank 101 N. Phillips Ave., Sioux Falls, SD 57104 Website: www.wellsfargo.com Branches (Snohomish County): 20 Deposits (Snohomish County): $1.48 billion Market share: 12.8 percent CEO: Timothy J. Sloan

SOURCE: FDIC (JUNE 30, 2017)

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16 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

WAGE & EMPLOYMENT STATISTICS

Snohomish County median hourly wages, 2006-2016 Median Hourly Wage, All Industries, Unadjusted for inflation 2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

Snohomish County

$19.71

$20.53

$21.23

$22.33

$23.03

$24.09

$24.77

$25.03

$25.40

$24.17

$25.03

State less King County

$16.70

$17.26

$17.78

$18.32

$18.73

$19.04

$19.24

$19.57

$19.85

$20.24

$20.68

State

$18.68

$19.42

$20.11

$20.87

$21.01

$21.59

$21.68

$22.09

$22.61

$23.15

$23.91

Median Hourly Wage, Private Sector Snohomish County

$18.79

$19.64

$20.25

$21.28

$21.95

$23.24

$24.05

$24.47

$24.84

$23.42

$24.30

State less King County

$15.53

$16.03

$16.47

$16.89

$17.30

$17.67

$17.98

$18.28

$18.51

$19.00

$19.36

State

$17.76

$18.38

$18.98

$19.48

$19.92

$20.25

$20.56

$21.00

$21.48

$22.03

$22.72

Median Hourly Wage, All Industries, Adjusted for Inflation (Using U.S. PCE Deflator) Snohomish, All Industries

$23.04

$23.41

$23.49

$24.72

$25.09

$25.61

$25.84

$25.77

$25.77

$24.43

$25.03

Snohomish, Private Sector

$21.96

$22.40

$22.41

$23.56

$23.91

$24.71

$25.09

$25.20

$25.20

$23.67

$24.30

State Less King

$19.52

$19.68

$19.67

$20.28

$20.40

$20.24

$20.07

$20.15

$20.14

$20.46

$20.68

State

$21.83

$22.14

$22.25

$23.11

$22.88

$22.95

$22.62

$22.75

$22.94

$23.40

$23.91

SOURCE: EMPLOYMENT SECURITY DEPARTMENT

Workforce averages for Snohomish County, 2012-2017 2017

Average

Jan.

Feb.

March

April

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

Civilian Labor Force

419,376

415,996

420,487

420,392

418,563

418,571

417,123

417,682

421,299

424,271

n/a

n/a

n/a

Total Employment

403,284

398,671

405,024

405,775

405,512

404,104

400,370

400,974

403,188

405,937

n/a

n/a

n/a

Total Unemp.

16,092

17,325

15,463

14,617

13,051

14,467

16,753

16,708

18,111

18,334

n/a

n/a

n/a

Unemp. Rate

3.80%

4.20%

3.70%

3.50%

3.10%

3.50%

4.00%

4.00%

4.30%

4.30%

n/a

n/a

n/a

Civilian Labor Force

412,178

401,905

409,685

411,009

411,064

411,340

413,569

414,570

414,824

416,340

415,166

414,002

412,662

Total Employment

394,217

382,224

389,995

391,653

394,841

394,378

395,155

395,814

396,866

398,357

398,167

396,492

396,665

2016

Total Unemp.

17,961

19,681

19,690

19,356

16,223

16,962

18,414

18,756

17,958

17,983

16,999

17,510

15,997

Unemp. Rate

4.40%

4.90%

4.80%

4.70%

3.90%

4.10%

4.50%

4.50%

4.30%

4.30%

4.10%

4.20%

3.90%

Civilian Labor Force

401,834

394,304

400,580

400,265

402,320

402,678

403,713

403,934

403,233

403,536

402,888

402,084

402,470

Total Employment

383,202

375,033

381,361

382,027

386,850

385,097

384,992

384,485

384,812

384,582

383,833

381,678

383,668

Total Unemp.

18,632

19,271

19,219

18,238

15,470

17,581

18,721

19,449

18,421

18,954

19,055

20,406

18,802

Unemp. Rate

4.60%

4.90%

4.80%

4.60%

3.80%

4.40%

4.60%

4.80%

4.60%

4.70%

4.70%

5.10%

4.70%

2015

2014 Civilian Labor Force

396,508

389,620

396,342

397,039

396,351

396,630

398,293

399,880

396,340

397,521

397,797

396,689

395,591

Total Employment

375,864

367,311

373,140

374,378

377,789

376,711

376,951

377,740

375,520

377,368

378,653

376,811

377,991

Total Unemp.

20,644

22,309

23,202

22,661

18,562

19,919

21,342

22,140

20,820

20,153

19,144

19,878

17,600

Unemp. Rate

5.20%

5.70%

5.90%

5.70%

4.70%

5.00%

5.40%

5.50%

5.30%

5.10%

4.80%

5.00%

4.40%

389,163

382,420

387,322

386,059

388,460

390,140

392,700

392,878

389,341

391,497

388,765

390,156

3902,21

2013 Civilian Labor Force Total Employment

366,928

357,716

363,852

363,885

369,414

369,648

369,487

369,618

366,857

369,103

366,528

367,574

369,452

Total Unemp.

22,235

24,704

23,470

22,174

19,046

20,492

23,213

23,260

22,484

22,394

22,237

22,582

20,769

Unemp. Rate

5.70%

6.50%

6.10%

5.70%

4.90%

5.30%

5.90%

5.90%

5.80%

5.70%

5.70%

5.80%

5.30%

385,500

379,154

384,698

385,789

385,735

387,693

388,542

388,549

385,069

387,505

385,573

384,105

383,582

2012 Civilian Labor Force Total Employment

356,761

346,239

351,885

354,152

358,351

358,471

357,711

357,693

356,788

360,947

360,108

358,796

359,988

Total Unemp.

28,739

32,915

32,813

31,637

27,384

29,222

30,831

30,856

28,281

26,558

25,465

25,309

23,594

Unemp. Rate

7.50%

8.70%

8.50%

8.20%

7.10%

7.50%

7.90%

7.90%

7.30%

6.90%

6.60%

6.60%

6.20%

SOURCE: EMPLOYMENT SECURITY DEPARTMENT

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 17

EMPLOYMENT BY SECTOR

Snohomish County employment by sector for select years Total Nonfarm

2017

2014

2011

286,656

272,708

255,433

Total Private

246,467

234,500

218,175

Goods Producing

81,956

80,592

73,300

22,711

17,475

15,000

Construction of Buildings

3,789

3,033

2,533

Heavy and Civil Engineering Construction

2,178

1,692

1,608

Mining, Logging, and Construction

Specialty Trade Contractors Manufacturing Durable Goods

16,522

12,500

10,633

59,244

63,117

58,300

55,433

59,917

54,467

Wood Product Manufacturing

889

1,067

1,208

Fabricated Metal Product Mfg.

3,978

3,800

3,500

Computer and Electronic Product Mfg.

5,033

5,558

4,917

Aerospace Product and Parts Mfg.

39,633

43,942

40,350

Nondurable Goods Service Providing Trade, Transportation, and Utilities

3,811

3,200

3,833

204,7

192,117

182,133

47,956

45,417

42,558

Wholesale Trade

8,189

7,950

8,075

Retail Trade

35,044

33,258

30,600

Motor vehicle and parts dealers

4,900

4,250

3,792

Food and beverage stores

6,522

6,375

5,967

General merchandise stores

7,778

7,542

7,242

Transportation, Warehousing and Utilities

4,722

4,208

3,883

5,900

5,717

5,742

3,922

4,125

4,125

Information Telecommunications Financial Activities Finance and Insurance Credit intermediation Insurance carriers

12,956

12,167

11,442

9,522

9,133

8,317

3,133

3,300

3,467

6,100

5,567

4,633

3,433

3,033

3,125

27,233

23,65

21,375

Professional, Scientific and Technical Services

11,867

10,592

9,408

Architectural, Engineering and Related Services

2,300

2,217

2,217

Administration, Support, Waste Management and Remediation

13,922

11,775

10,742

Real estate and rental and leasing Professional and Business Services

Employment services Educational and Health Services Ambulatory health care services

4,556

4,083

3,067

34,056

32,85

31,592

12,167

11,008

10,483

Nursing and residential care

5,078

5,067

4,908

Social assistance

9,222

9,883

9,267

Leisure and Hospitality

26,067

24,092

22,400

3,456

3,517

3,642

Arts, entertainment and recreation Food services and drinking places

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21,111

19,208

17,725

Other Services

10,344

10,017

9,767

EVERETT 3732 BROADWAY 425.263.3500

Government

40,189

38,208

37,258

Federal Government

2,144

2,108

2,275

LYNNWOOD 19705 HIGHWAY 99 425.493.5200

State Government

6,267

6,192

5,725

BALLARD 2244 NW 56th St 206.397.3110

3,178

3,142

2,642

31,778

29,908

29,258

MOUNTAINPACIFICBANK.com

15,444

14,408

14,050

State Educational Services Local Government Local Educational Services SOURCE: EMPLOYMENT SECURITY DEPARTMENT

Member FDIC 2009827

18 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

Our true reward is a healthier community. The Everett Clinic is honored to receive the William O. Robertson Patient Safety Award of Excellence from the Washington State Medical Association, for addressing the opioid epidemic in our community. But we know our work is not done. We’ll continue to do whatever it takes to make our neighbors’ lives better through health and healing. everettclinic.com | wsma.org

1984599

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 19

STATISTICAL SNAPSHOT

Snohomish County’s largest employers Company/Agency

Business Line

public/ private

Total 2017*

Zodiac Aerospace

Aerospace supplier; composites

private

675

The Boeing Company

Aircraft manufacturing

private

34,500

Community Transit

Public transit

public

651

Providence Regional Medical Center

Medical services

private

4,775

Electroimpact

Aerospace tooling & private automation

620

The Tulalip Tribes

Gaming, real estate, public gov’t services

3,200

FUJIFILM Sonosite

Medical devices

private

600

Naval Station Everett

U.S. Navy Base

public

2,987

Travis Industries

Manufacturing - fireplaces

private

600

Washington State gov’t*

State government

public

2,950

Arlington School District

School district

public

594

Snohomish County Government

County government public

2,617

Frontier Communications Northwest

Communications

private

564

Edmonds School District

School district

public

2,605

B/E Aerospace

private

550

Premera Blue Cross

Health insurer

private

2,600

aerospace supplier, interiors

Walmart ( 8 locations)

Retail

private

2,312

City of Lynnwood

City government

public

533

The Everett Clinic

Health care

private

2,255

AMT | Senior Aerospace

Aerospace parts

private

500

Everett School District

School district

public

2,195

Cadence Aerospace

Aerospace parts

private

440

Philips Healthcare

Ultrasound technology

private

2,000

Canyon Creek Cabinets

Manufacturing - furniture

private

440

U.S. federal gov’t**

Government, federal

public

2,000

Panasonic Avionics

Aircraft equipment

private

430

Health care

private

430

Swedish Medical Center - Edmonds campus

Health care

private

1,850

Cascade Valley Hospital & Clinics (SRH) Hos Brothers Construction

private

400

Mukilteo School District

School district

public

1,755

Construction contractor

Edmonds Community College

Higher education

public

1,516

Funko

private

400

Albertsons / Safeway (21 locations)

Retail - grocery

private

1,500

manufacturing - collectibles

Fred Meyer / QFC (18 loc.)

Retail - grocery

private

1,350

Electric Mirror

Manufacturing

private

360

Marysville School District

School district

public

1,341

Jamco

Aerospace interiors

private

350

Comcast

Telecommunications public

1,300

Zumiez

clothing, speciality retailer

private

350

Fluke Corp. (Fortive)

Electronic test & measurement

private

1,200

Romac

Foundry products

private

330

City of Everett

City government

public

1,193

Molina Healthcare of WA

Health insurance, HMO

private

320

Snohomish School District

School district

public

1,117

Community Health Center of SnoCo

Health care

private

300

Aviation Technical Services

Aircraft repair/ maintenance/parts

private

1,000

Honeywell Scanning and Mobility

Wireless data collec- private tion; RFID

300

Lake Stevens School District

School district

public

983

National Food Corp.

Food distribution

private

300

Snohomish PUD

Electric utility

public

972

CMC Biologics

Biopharmaceuticals

private

300

Everett Community College

Higher education

public

954

Lakewood School District

School district

public

281

Stillaguamish Tribe

Gaming, gov’t services, investments

public

750

Granite Falls School District

School district

public

261

Seattle Genetics

Biotechnology

private

700

Sultan School District

School district

public

254

Crane Aerospace & Electronics

Aerospace electronics

private

700

Macy’s

Retail

private

225

Tect Aerospace

Aerospace

private

220

Aerospace electronics

private

CEMEX

Sand/gravel mining operations

private

100

Esterline Control Systems

680

Public employers only snapshot The Tulalip Tribes

Gaming, real estate, gov’t services

Private employers only snapshot

3,200

The Boeing Company

Aircraft manufacturing

34,500

Naval Station Everett

U.S. Navy Base

2,987

Providence Regional Medical Center

Medical services

4,775

Washington state gov’t

State government

2,950

Premera Blue Cross

Health insurer

2,600

Snohomish County Government

County government

2,617

Walmart ( 8 locations)

Retail

2,312

Edmonds School District

School district

2,605

The Everett Clinic

Health care

2,255

Ultrasound technology

2,000

Everett School District

School district

2,195

Philips Healthcare

U.S. federal gov’t

Government, federal

2,000

1,850

Mukilteo School District

School district

1,755

Swedish Medical Center | Edmonds Health care campus

Edmonds Community College

Higher education

1,516

Albertson’s / Safeway (21 locations)

Retail - grocery

1,500

Marysville School District

School district

1,341

Fred Meyer / QFC (18 loc.)

Retail - grocery

1,350

Comcast

Telecommunications

1,300

SOURCE: ECONOMIC ALLIANCE SNOHOMISH COUNTY

20 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

STATISTICAL SNAPSHOT

Seattle metro area unleaded fuel prices, 1999-2017 Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

1999

$1.06

$1.02

$1.06

$1.38

$1.40

$1.34

$1.39

$1.44

$1.43

$1.38

$1.36

$1.39

2000

$1.39

$1.43

$1.60

$1.69

$1.63

$1.59

$1.64

$1.64

$1.71

$1.72

$1.70

$1.66

2001

$1.59

$1.55

$1.55

$1.54

$1.58

$1.62

$1.59

$1.52

$1.66

$1.63

$1.49

$1.28

2002

$1.20

$1.17

$1.23

$1.43

$1.46

$1.46

$1.48

$1.49

$1.47

$1.41

$1.41

$1.38

2003

$1.39

$1.64

$1.86

$1.79

$1.63

$1.55

$1.60

$1.76

$1.88

$1.66

$1.59

$1.52

2004

$1.61

$1.67

$1.79

$1.90

$2.20

$2.27

$2.01

$1.93

$1.99

$2.06

$2.06

$1.92

2005

$1.81

$1.92

$2.15

$2.44

$2.43

$2.30

$2.44

$2.60

$2.88

$2.80

$2.50

$2.23

2006

$2.24

$2.29

$2.40

$2.76

$3.11

$3.11

$3.02

$3.00

$2.80

$2.53

$2.44

$2.57

2007

$2.60

$2.47

$2.76

$3.08

$3.36

$3.14

$2.96

$2.79

$2.88

$2.98

$3.20

$3.13

2008

$3.08

$3.16

$3.46

$3.57

$3.86

$4.29

$4.27

$3.98

$3.74

$3.12

$2.19

$1.81

2009

$2.01

$2.16

$2.15

$2.30

$2.51

$2.84

$2.70

$2.84

$2.91

$2.76

$2.82

$2.79

2010

$2.87

$2.81

$2.98

$3.05

$3.01

$2.94

$2.98

$3.07

$2.94

$3.01

$3.08

$3.15

2011

$3.23

$3.34

$3.70

$3.92

$3.99

$3.86

$3.78

$3.75

$3.86

$3.80

$3.67

$3.44

2012

$3.44

$3.57

$4.00

$4.08

$4.16

$4.00

$3.57

$3.81

$4.01

$3.96

$3.47

$3.34

2013

$3.37

$3.62

$3.80

$3.64

$3.83

$3.79

$3.82

$3.79

$3.66

$3.44

$3.24

$3.29

2014

$3.37

$3.31

$3.58

$3.75

$3.87

$3.93

$3.96

$3.83

$3.75

$3.40

$3.00

$2.83

2015

$2.30

$2.31

$2.85

$2.70

$3.00

$3.05

$3.14

$3.03

$2.73

$2.49

$2.41

$2.35

2016

$2.33

$2.02

$2.12

$2.25

$2.44

$2.57

$2.56

$2.49

$2.60

$2.64

$2.59

$2.47

2017

$2.69

$2.67

$2.73

$2.79

$2.44

$2.72

$2.70

$2.77

$2.95

$2.81

n/a

n/a

SOURCE: U.S. BUREAU OF LABOR STATISTICS, DECEMBER 2017

Seattle metro area natural gas, per therm, 2007-2017 Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2007

1.437

1.437

1.437

1.44

1.44

1.44

1.44

1.44

1.44

1.264

1.264

1.267

2008

1.267

1.267

1.267

1.268

1.268

1.268

1.268

1.268

1.268

1.4

1.463

1.463

2009

1.463

1.457

1.457

1.463

1.463

1.438

1.438

1.438

1.438

1.206

1.206

1.206

2010

1.207

1.207

1.207

1.224

1.224

1.249

1.249

1.249

1.249

1.25

1.274

1.274

2011

1.275

1.275

1.275

1.301

1.307

1.307

1.307

1.307

1.307

1.306

1.253

1.253

2012

1.253

1.253

1.253

1.246

1.264

1.264

1.264

1.264

1.264

1.266

1.175

1.175

2013

1.176

1.176

1.176

1.176

1.169

1.169

1.188

1.188

1.188

1.19

1.195

1.195

2014

1.195

1.195

1.195

1.195

1.187

1.187

1.187

1.187

1.187

1.186

1.214

1.214

2015

1.216

1.216

1.216

1.216

1.253

1.25

1.25

1.25

1.25

1.252

1.056

1.056

2016

1.056

1.056

1.058

1.058

1.085

1.123

1.123

1.123

1.119

1.119

1.122

1.122

2017

1.122

1.122

1.122

1.122

1.122

1.149

1.150

1.150

1.150

1.150

1.150

n/a

SOURCE: U.S. BUREAU OF LABOR STATISTICS, DECEMBER 2017

Seattle metro area electricity per kilowatt hour, 2007-2017 Year

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

2007

$0.075

$0.075

$0.075

$0.076

$0.076

$0.080

$0.080

$0.080

$0.081

$0.080

$0.080

$0.080

2008

$0.080

$0.080

$0.080

$0.073

$0.082

$0.082

$0.082

$0.082

$0.082

$0.081

$0.080

$0.080

2009

$0.080

$0.080

$0.080

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

$0.082

2010

$0.085

$0.085

$0.085

$0.088

$0.089

$0.089

$0.090

$0.090

$0.090

$0.089

$0.088

$0.088

2011

$0.088

$0.088

$0.088

$0.089

$0.090

$0.090

$0.090

$0.090

$0.090

$0.089

$0.089

$0.089

2012

$0.089

$0.089

$0.089

$0.092

$0.093

$0.093

$0.093

$0.093

$0.093

$0.092

$0.092

$0.092

2013

$0.093

$0.092

$0.092

$0.095

$0.095

$0.095

$0.096

$0.096

$0.096

$0.095

$0.094

$0.094

2014

$0.096

$0.096

$0.096

$0.098

$0.099

$0.096

$0.096

$0.096

$0.096

$0.095

$0.095

$0.083

2015

$0.096

$0.096

$0.096

$0.098

$0.098

$0.102

$0.102

$0.102

$0.102

$0.102

$0.102

$0.102

2016

$0.103

$0.103

$0.103

$0.106

$0.108

$0.108

$0.108

$0.108

$0.108

$0.105

$0.105

$1.105

2017

$0.104

$0.106

$0.106

$0.106

$0.111

$0.112

$0.112

$0.112

$0.112

$0.112

$0.109

n/a

SOURCE: U.S. BUREAU OF LABOR STATISTICS, DECEMBER 2017

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 21

STATISTICAL SNAPSHOT

Selected social characteristics of Snohomish County in 2016 Total population

758,649

Sex and age

52.20%

Divorced or separated

14.00%

Private wage and salary workers

81.80%

Widowed

4.50%

Government workers

12.60%

Male

50.10%

Female

49.90%

School enrollment

Under 5 years

6.30%

5 to 17 years

16.80%

Population 3 years and over enrolled in school

18 to 24 years

8.60%

25 to 44 years

28.10%

45 to 54 years

15.00%

55 to 64 years

13.10%

65 to 74 years

7.30%

75 to 84 years

3.30%

85 years and over

1.50%

Median age (years)

37.8

Race and Hispanic or Latino Origin

183,766

Self-employed workers in own not incorporated business Unpaid family workers

5.40% 0.20%

Poverty rates for families for whom poverty status is determined

Nursery school, preschool

6.20%

Elementary school (grades K-8)

47.00%

High school (grades 9-12)

22.10%

College or graduate school

24.70%

With related children of the householder under 18 years

9.80%

517950

With related children of the householder under 5 years only

9.70%

Population 25 years and over Less than high school graduate

8.20%

Educational attainment

All families

Married-couple family

6.20%

3.00%

24.20%

With related children of the householder under 18 years

4.00%

Some college or associate’s degree

37.00%

With related children of the householder under 5 years only

4.20%

Female householder, no husband present, family

21.50%

With related children of the householder under 18 years

30.00%

With related children of the householder under 5 years only

29.10%

High school graduate (includes equivalency)

One race

94.40%

Bachelor’s degree

21.20%

White

78.00%

Graduate or professional degree

9.40%

Black or African American

2.70%

American Indian and Alaska Native

1.00%

Asian

9.70%

Population 5 years and over

710,589

0.50%

English only

80.60%

Language other than English

19.40%

Speak English less than “very well”

7.60%

Native Hawaiian and Other Pacific Islander

Class of Worker

Now married, except separated

Language spoken at home and ability to speak English

Owner-occupied housing units

184,237

Some other race

2.60%

Two or more races

5.60%

Hispanic or Latino origin (of any race)

9.60%

Population 16 years and over

603,188

White alone, not Hispanic or Latino

72.00%

Less than 30 percent

71.90%

In labor force

67.60%

30 percent or more

28.10%

Civilian labor force

67.00% Renter-occupied housing units

94,389

Household type

Employment status

Monthly owner costs as a percentage of household income in the past 12 months

In married-couple family

64.00%

Employed

62.80%

In other households

34.60%

Unemployed

4.10%

Average household size

2.69

Percent of civilian labor force

6.20%

Average family size

3.2

Armed Forces

0.60%

Less than 30 percent

52.80%

Not in labor force

32.40%

30 percent or more

47.20%

Marital status Population 15 years and over

612,826

Never married

29.20%

Civilian employed population 16 years and over

Gross rent as a percentage of household income in the past 12 months

378916

SOURCE: U.S. CENSUS

Snohomish County commuting characteristics for 2016 Workers 16 years and over

374,583

Means of transportation to work

Worked in county of residence

63.70%

Less than 10 minutes

8.50%

Worked outside county of residence

35.60%

10 to 14 minutes

10.40%

Car, truck, or van

86.20%

Worked outside state of residence

0.60%

15 to 19 minutes

12.50%

Drove alone

75.00%

355,412

20 to 24 minutes

13.10%

Carpooled

11.20%

Workers 16 years and over who did not work at home

25 to 29 minutes

6.60%

In 2-person carpool

8.50%

30 to 34 minutes

14.70%

In 3-person carpool

1.50%

35 to 44 minutes

8.70%

In 4-or-more person carpool

1.10%

45 to 59 minutes

11.60%

Workers per car, truck, or van

1.08

60 or more minutes

13.90%

Mean travel time to work (minutes)

31.2

Public transportation (excluding taxicab)

5.30%

Time leaving home to go to work 12:00 a.m. to 4:59 a.m.

8.30%

5:00 a.m. to 5:29 a.m.

5.80%

5:30 a.m. to 5:59 a.m.

7.40%

6:00 a.m. to 6:29 a.m.

10.60%

6:30 a.m. to 6:59 a.m.

9.60%

Vehicles available

Walked

1.80%

7:00 a.m. to 7:29 a.m.

12.50%

Bicycle

0.40%

7:30 a.m. to 7:59 a.m.

8.70%

Taxicab, motorcycle, or other means

1.20%

8:00 a.m. to 8:29 a.m.

8.10%

No vehicle available

1.80%

Worked at home

5.10%

8:30 a.m. to 8:59 a.m.

4.70%

1 vehicle available

15.90%

9:00 a.m. to 11:59 p.m.

24.20%

2 vehicles available

40.60%

3 or more vehicles available

41.70%

Place of work Worked in state of residence SOURCE: U.S. CENSUS

99.40%

Travel time to work

Workers 16 years and over in households

374,583

22 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

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THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 23

Selected demographic data for Snohomish County in 2016 Race One race 716,207 Two or more races 42,442 One race White 591,763 Black or African American 20,511 American Indian and Alaska Native 7,368 Cherokee tribal grouping 151 Chippewa tribal grouping 235 Navajo tribal grouping 327 Sioux tribal grouping 142 Asian 73,386 Asian Indian 10,486 Chinese 11,135 Filipino 12,952 Japanese 3,585 Korean 11,846 Vietnamese 11,443 Other Asian 11,939 Native Hawaiian and Other Pacific Islander 3,661 Native Hawaiian 840 Guamanian or Chamorro 502 Samoan 443 Other Pacific Islander 1,876 Some other race 19,518 Two or more races White and Black or African American 7,110 White and American Indian and Alaska Native 9,449 White and Asian 13,276 Black or African American, American Indian 1,093

Race alone or in combination with one or more White 629,462 Black or African American 32,138 American Indian and Alaska Native 20,899 Asian 91,506 Native Hawaiian and Other Pacific Islander 8,264 Some other race 23,415 Hispanic or Latino Hispanic or Latino (of any race) 72,859 Mexican 53,551 Puerto Rican 3,276 Cuban 935 Other Hispanic or Latino 15,097 Not Hispanic or Latino 685,790 White alone 546,155 Black or African American alone 19,427 American Indian and Alaska Native alone 6,061 Asian alone 72,714 Native Hawaiian and other Pacific Islander alone 3,599 Some other race alone 952 Two or more races 36,882 Two races including some other race 563 Two races excluding some other race 36,319 Total housing units 297,178 Voting age by population Citizen, 18 and over population 534,199 Male 267,135 Female 267,064 SOURCE: U.S. CENSUS

2009575

Total population 758,649 Male 380,430 Female 378,219 Under 5 years 48,060 5 to 9 years 47,509 10 to 14 years 50,254 15 to 19 years 46,594 20 to 24 years 48,282 25 to 34 years 108,102 35 to 44 years 105,206 45 to 54 years 113,574 55 to 59 years 53,127 60 to 64 years 46,300 65 to 74 years 55,263 75 to 84 years 25,132 85 years and over 11,246 Median age (years) 38 18 years and over 582,828 21 years and over 556,520 62 years and over 117,362 65 years and over 91,641 18 years and over 582,828 Male 290,416 Female 292,412 65 years and over 91,641 Male 40,567 Female 51,074

24 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

REAL ESTATE

Snohomish County Northwest Multiple Listing Service area zones

Snohomish County home sales and prices, Oct. 2016-Nov. 2017 November 2017 Residential and condos

730

316

306

3.27%

$481,500

$415,975

15.75%

740

415

327

26.91%

$410,000

$355,000

15.49%

750

132

133

-0.75%

$390,000

$353,000

10.48%

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

760

172

147

17.01%

$365,000

$343,763

6.18%

610

163

197

-17.26%

$625,000

$520,000

20.19%

770

241

275

-12.36%

$352,000

$314,950

11.76%

730

292

275

6.18%

$471,250

$395,000

19.30%

Total

1466

1431

2.45%

$430,000

$377,000

14.06%

740

437

333

31.23%

$391,000

$350,000

11.71%

Camano 46

52

9.62%

$438,500

$357,475

22.67%

750

132

150

-12.00%

$409,000

$368,850

10.89%

760

166

193

-13.99%

$365,500

$350,000

4.43%

August 2017

770

238

216

10.19%

$340,000

$317,500

7.09%

Residential and condos

Total

1428

1364

4.69%

$415,000

$369,950

12.18%

-4.44%

$414,875

$388,500

6.79%

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

45

610

193

272

-29.04%

$638,000

$519,950

22.70%

October 2017

730

359

329

9.12%

$479,950

$406,000

18.21%

Residential and condos

740

498

373

33.51%

$425,000

$363,000

17.08%

750

150

116

29.31%

$398,500

$384,237

3.71%

760

199

180

10.56%

$390,000

$326,075

19.60%

Camano 38

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

610

163

197

-17.26%

$625,000

$520,000

20.19%

770

249

268

-7.09%

$351,000

$319,475

9.87%

730

292

275

6.18%

$471,250

$395,000

19.30%

Total

1648

1538

7.15%

$430,000

$380,000

13.16%

740

437

333

31.23%

$391,000

$350,000

11.71%

Camano 57

55

14.55%

$440,000

$340,000

29.41%

750

132

150

-12.00%

$409,000

$368,850

10.89%

760

166

193

-13.99%

$365,500

$350,000

4.43%

July 2017

770

238

216

10.19%

$340,000

$317,500

7.09%

Residential and condos

Total

1428

1364

4.69%

$415,000

$369,950

12.18%

-4.44%

$414,875

$388,500

6.79%

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

45

Camano 38

610

230

239

-3.77%

$609,600

$519,000

17.46%

September 2017

730

319

305

4.59%

$470,000

$444,000

5.86%

Residential and condos

740

469

412

13.83%

$410,000

$365,000

12.33%

750

145

124

16.94%

$433,000

$322,475

34.27%

760

166

198

-16.16%

$380,000

$330,432

15.00%

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

610

190

243

-21.81%

$507,950

19.35%

$606,250

THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018 25

770

227

237

-4.22%

$355,000

$312,000

13.78%

730

149

155

-3.87%

$424,000

$376,000

12.77%

Total

1556

1515

2.71%

$430,000

$385,000

11.69%

740

242

261

-7.28%

$379,450

$320,000

18.58%

44

20.45%

$345,000

$280,000

23.21%

750

94

82

14.63%

$367,000

$290,500

26.33%

760

112

89

25.84%

$349,450

$285,000

22.61%

June 2017

770

167

158

5.70%

$315,000

$279,975

12.51%

Residential and condos

Total

904

848

6.60%

$387,250

$327,500

18.24%

19

131.58%

$360,000

$329,000

9.42%

Camano 48

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

Camano 25

610

229

247

-7.29%

$610,000

$521,800

16.90%

January 2017

730

321

305

5.25%

$469,000

$410,000

14.39%

Residential and condos

740

425

379

12.14%

$404,000

$372,000

8.60%

127

122

4.10%

$425,000

$348,500

21.95%

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

750 760

175

193

-9.33%

$375,000

$319,950

17.21%

610

136

117

16.24%

$589,975

$490,000

20.40%

770

276

247

11.74%

$347,750

$305,000

14.02%

730

187

175

6.86%

$449,997

$424,950

5.89%

Total

1553

1493

4.02%

$420,000

$372,150

12.86%

740

227

219

3.65%

$350,000

$343,000

2.04%

56

8.93%

$405,000

$334,497

21.08%

750

95

90

5.56%

$340,000

$326,950

3.99%

Camano 69

760

115

85

35.29%

$342,950

$285,000

20.33%

May 2017

770

178

125

42.40%

$320,750

$297,950

7.65%

Residential and condos

Total

938

811

15.66%

$380,000

$351,500

8.11%

27

70.37%

$360,000

$365,000

-1.37%

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

Camano 25

610

241

198

21.72%

$629,950

$507,975

24.01%

December 2016

730

256

274

-6.57%

$482,500

$420,000

14.88%

Residential and condos

740

367

360

1.94%

$395,000

$360,000

9.72%

145

124

16.94%

$411,500

$360,000

14.31%

MLS Area

Sales 2016

Sales 2015

% change Median price 2016

Median price 2015

% change

750 760

164

164

0.00%

$391,250

$320,000

22.27%

610

160

162

-1.23%

$571,225

$495,000

15.40%

770

221

266

-16.92%

$350,000

$309,500

13.09%

730

239

262

-8.78%

$432,000

$367,250

17.63%

Total

1394

1386

0.58%

$420,000

$367,250

14.36%

740

298

337

-11.57%

$359,975

$319,500

12.67%

41

85.37%

$379,750

$329,000

15.43%

750

104

113

-7.96%

$362,500

$309,000

17.31%

760

138

118

16.95%

$337,475

$324,475

4.01%

April 2017

770

208

197

5.58%

$304,500

$280,000

8.75%

Residential and condos

Total

1147

1189

-3.53%

$379,350

$337,500

12.40%

41

-4.88%

$359,000

$310,000

15.81%

Camano 36

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

Camano 45

610

160

174

-8.05%

$617,975

$496,250

24.53%

November 2016

730

229

237

-3.38%

$467,741

$400,000

16.94%

Residential and condos

740

284

330

-13.94%

$407,500

$356,000

14.47%

120

109

10.09%

$373,725

$351,500

6.32%

MLS Area

Sales 2016

Sales 2015

% change Median price 2016

Median price 2015

% change

750 760

133

151

-11.92%

$371,000

$306,000

21.24%

610

210

132

59.09%

$564,975

$487,780

15.83%

770

190

212

-10.38%

$330,000

$294,000

12.24%

730

241

196

22.96%

$420,000

$359,975

16.67%

323

299

8.03%

$365,000

$327,450

11.47%

1213

-8.00%

$416,668

$357,000

16.71%

740

29

68.97%

$369,000

$317,500

16.22%

750

125

86

45.35%

$355,000

$321,250

10.51%

760

149

108

37.96%

$329,950

$281,450

17.23%

March 2017

770

222

152

46.05%

$312,650

$274,950

13.71%

Residential and condos

Total

1270

973

30.52%

$379,950

$329,638

15.26%

43

-11.63%

$350,000

$326,980

7.04%

Total

1116

Camano 35

MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

Camano 27

610

181

201

-9.95%

$596,000

$525,290

13.46%

October 2016

730

220

203

8.37%

$430,750

$381,000

13.06%

Residential and condos

740

293

333

-12.01%

$385,000

$350,000

10.00%

117

93

25.81%

$375,000

$338,000

10.95%

MLS Area

Sales 2016

Sales 2015

% change Median price 2016

Median price 2015

% change

750 760

146

141

3.55%

$360,000

$307,500

17.07%

610

197

172

14.53%

$520,000

$480,000

8.33%

770

210

185

13.51%

$343,750

$286,500

19.98%

730

275

244

12.70%

$395,000

$378,000

4.50%

Total

1167

1156

0.95%

$396,000

$365,000

8.49%

740

333

341

-2.35%

$350,000

$339,900

2.97%

41

2.44%

$376,500

$319,000

18.03%

750

150

95

57.89%

$368,850

$299,950

22.97%

760

193

147

31.29%

$350,000

$291,000

20.27%

770

216

179

20.67%

$317,500

$279,000

13.80%

Total

1364

1178

15.79%

$369,950

$342,475

8.02%

33

12.12%

$388,500

$375,000

3.60%

Camano 45 February 2017

Residential and condos MLS Area

Sales 2017

Sales 2016

% change Median price 2017

Median price 2016

% change

610

140

103

35.92%

$499,950

19.65%

$598,200

SOURCE: NORTHWEST MULTIPLE LISTING SERVICE

Camano 45

26 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

HOUSING PERMITS

Snohomish County housing permits by structure, 2009-2017 2017 (through October)

Total

2014

Total

2011

Total

Total Units

3,137

Total Units

3,483

Total Units

2,523

Units in Single-Family Structures

2,364

Units in Single-Family Structures

2,074

Units in Single-Family Structures

1,823

Units in All Multi-Family Structures

773

Units in All Multi-Family Structures

1,409

Units in All Multi-Family Structures

700

Units in 2-unit Multi-Family Structures

52

Units in 2-unit Multi-Family Structures

88

Units in 2-unit Multi-Family Structures

50

Units in 3- and 4-unit Multi-Family Structures

112

Units in 3- and 4-unit Multi-Family Structures

29

Units in 3- and 4-unit Multi-Family Structures

20

Units in 5+ Unit Multi-Family Structures

609

Units in 5+ Unit Multi-Family Structures

1,292

Units in 5+ Unit Multi-Family Structures

630

2016

Total

2013

Total

2010

Total

Total Units

3,908

Total Units

4,359

Total Units

2,126

Units in Single-Family Structures

2,689

Units in Single-Family Structures

1,984

Units in Single-Family Structures

1,859

Units in All Multi-Family Structures

1,219

Units in All Multi-Family Structures

2,375

Units in All Multi-Family Structures

267

Units in 2-unit Multi-Family Structures

62

90

Units in 2-unit Multi-Family Structures

76

Units in 3- and 4-unit Multi-Family Structures

139

Units in 2-unit Multi-Family Structures Units in 3- and 4-unit Multi-Family Structures

59

Units in 3- and 4-unit Multi-Family Structures

40

Units in 5+ Unit Multi-Family Structures

1,018

Units in 5+ Unit Multi-Family Structures

2,226

Units in 5+ Unit Multi-Family Structures

151

2015

Total

2012

Total

2009

Total

Total Units

3,583

Total Units

3,618

Total Units

2,183

Units in Single-Family Structures

2,386

Units in Single-Family Structures

2,179

Units in Single-Family Structures

1,782

Units in All Multi-Family Structures

1,197

Units in All Multi-Family Structures

1,439

Units in All Multi-Family Structures

401

Units in 2-unit Multi-Family Structures

66

Units in 2-unit Multi-Family Structures

92

Units in 2-unit Multi-Family Structures

124

Units in 3- and 4-unit Multi-Family Structures Units in 5+ Unit Multi-Family Structures

17 1,114

Units in 3- and 4-unit Multi-Family Structures Units in 5+ Unit Multi-Family Structures

62 1,285

Units in 3- and 4-unit Multi-Family Structures Units in 5+ Unit Multi-Family Structures

SOURCE: U.S. CENSUS BUREAU

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28 THE HERALD BUSINESS JOURNAL – MARKET FACTS 2018

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