Spokane Valley study examines economic opportunities

It’s probably no surprise Spokane Valley has a high concentration of auto and parts dealers and a retail landscape that’s dominated by big box stores.

But it may surprise some that 263,875 people live within a 10-minute drive of one of the major retail destinations in the Valley.

Those were just some of the facts presented by Community Attributes Inc., a consultant hired to conduct retail and tourism studies to help the city update its long-term growth guide, the comprehensive plan.

The tourism study is not finalized said CAI’s Mark Goodman who made the presentation for the Spokane Valley City Council on Tuesday evening.

On the retail side, the study showed that vacancy rates are down and that shoppers come from Canada, Idaho and Montana to shop in the Valley.

“The big box stores really dominate,” Goodman said, “and there’s an opportunity for more full-service restaurants.”

Goodman said the median household income in the Valley has increased with the majority of households making between $30,000 and $70,000 a year, but that’s still lower than neighboring areas.

“And you don’t have those neighborhoods with really high incomes that you see in Spokane,” Goodman said.

Community and Economic Development Director John Hohman said he would like the city to focus on where the study said the Valley is not doing as well such as food and beverage stores, performing arts and spectator sports.

The tourism study identified April, July and September as peak lodging months in Spokane Valley, and established that 31 percent of Valley jobs are related to tourism, compared to 21 percent of jobs in Spokane.

Major Valley tourism destinations are the mall and other retail, as well as wineries and breweries, and park assets.

Goodman said the definition of tourism had been expanded to include visitors who come solely for shopping or business.

“In taxable retail sales you are doing very well,” Goodman said. “You are doing better than both Spokane and Spokane County.”

The Valley is lacking museums, performing arts venues and spectator sports facilities, Goodman said.

“The city lacks a major tourism draw and a retail center,” Goodman said.

He also recommended the city hire a retail recruiter who could target attractive brands and shops.

The two studies are comprised of hundreds of pages, and Councilman Bill Gothmann said they likely will provide a solid foundation for the comprehensive plan update.

Both studies will recommend strategies for improvements and for how to best take advantage of under-developed areas once they are finalized.