From: Steve Johnson, Director [james@seattle.ccsend.com] on behalf of OED

Sent: Thursday, August 02, 2012 5:39 PM

To: OED

Subject: The Indicator from Seattle's Office of Economic Development

 

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AUGUST 2012

 

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FROM THE DIRECTOR

To all of you who contribute to Seattle's vibrant economy:

 

Now is the one time of the year when the rest of the country has great reason to envy our weather. Fittingly, the August edition of The Indicator quantifies the value of travel and tourism to the city and the region. And just like those Pacific rainstorms that visit us in winter, this industry refreshes our economy by bringing in new resources from outside the region. The Pathways to Careers section provides an informative ten-year look at the rise and fall in employment for our major industry sectors, while Seattle by the Numbers quantifies our economic performance. I hope to see many of you at this month's City Business Casual, where we will celebrate Seattle as a "Startup City!"

 

Please enjoy, and as usual, let us know what you think.

 

Steve Johnson, Director

 

 

ECONOMIC SPOTLIGHT 

With guest columnist Chris Mefford 

This month in the Economic Spotlight, Chris Mefford breaks down...  

 

Travel & Tourism 

They're baaa-aaack! 'Tis the season when Seattleites share Downtown Seattle, the Pike Place Market, and other favorite local haunts with out-of-towners from across the nation and other parts of the world. While tourists make it to the waterfront year-round and visitors find their way to Husky stadium during football season, July and August is the high season for co-mingling with the people drawn to Seattle for shopping, local food and drinks, and our summer festivities. This year our mild climate is a particular draw for Americans seeking a respite from an extended heat wave across most of the U.S. Seattle is the primary destination for nearly ten million overnight visitors annually, with many stopping in the city en route to regional outdoor recreation at nearby destinations.

 

Whether coming to Seattle for business, recreation, or both, tourism to Seattle and King County is big business. The Seattle Convention and Visitors Bureau estimates that out-of-town dollars accounted for $5.9 billion in direct expenditures in 2011. This new money infused into our local economy supports 51,000 jobs in direct employment and accounts for $2.3 billion dollars in direct earning from travel spending. Tax revenue to state and local government paid by visitors to King County totaled $463 million in 2011. Tourism is the 4th largest industry in Washington based on gross domestic product, supporting hotels, eating and drinking establishments, retail, and entertainment and recreation.

 

Tourists are the most visual evidence of new money coming into the Seattle economy, and the industry is growing. According to the US Department of Commerce, in the last two years Seattle and Washington State have led the nation in percentage growth of visitors from overseas markets. An estimated 20% of all visitors to Seattle are from other countries. The cruise ship industry brings an estimated 440,000 people to Seattle's waterfront ports ever year, another growing industry. Tourism supports existing local businesses and organizations. Nearly 40% of patrons at cultural organizations in King County come from outside the county. Visitors spend 50% more than local patrons, stimulating the economy through retail and lodging tax revenues.

 

Seattle is in demand and desirable for people from across the United States and the world to visit, as often profiled by travel publications. The amenities that draw out-of-towners here are the same reasons most of us moved here and stay here. Visitors' valuable contributions to the local economy support Seattle's cultural attractions, world-class dining, and entertainment for the rest of us to enjoy all year round.

 

 

PATHWAYS TO CAREERS    

Bringing partners together to get people the skills they need for jobs, faster.

 

Industry Sectors in Seattle - The Past Decade 

This month's Pathways to Careers column examines how the major industry sectors have fared in Seattle during the past decade, which included both the "dot-com bubble" recession at its outset as well as the Great Recession. The Seattle Jobs Initiative (SJI) has looked specifically at how employment numbers have changed in each sector over the ten-year period and compared the proportion of total Seattle employment that each sector comprised in 2001 versus today. Sectors like Mining & Logging, Construction, and Manufacturing have all seen varying degrees of decline, while Education & Healthcare, Information, and Professional Business Services have all seen significant growth. How do these numbers translate to the current picture of our economy? Read the full report that includes graphical data on each sector here.

 

 

SEATTLE BY THE NUMBERS

Seattle By The Numbers is a great way for our readers to stay current on economic and business news through various numerical data. The figures can be national unemployment rates, various economic indicators, Seattle rankings, and data from different industry reports. Check out our favorite stats from July:

  

NATIONAL

LOCAL

For more statistics, check out the Bureau of Labor Statistics summary of the Seattle metropolitan area or the Seattle Times' Times Watch indicators.

 

 

DAILY DIGEST DOZEN 
Want to know what your fellow Daily Digest subscribers are reading? Here are the twelve most clicked-on articles of July:

  1. 7 tricks for a great first impression 
  2. Seattle's most Seattle-y shops 
  3. Secrets of a master negotiator 
  4. Be graceful under pressure: 7 tips 
  5. Vision for Seattle's new waterfront becomes clearer 
  6. How to start conversations that make instant connections 
  7. One number will tell you if your social media marketing is working 
  8. The top things to see and do in July 
  9. 6 writing tips for sales messages 
  10. Creative-class theory revisted 10 years later 
  11. $50,000 jobs, no college degree needed 
  12. How much to pay superstar employees 

 

 

CITY BUSINESS CASUAL 
City Business Casual is back on Thursday, August 9 from 5:00 to 7:00 p.m. at the Alexis Hotel's
Library Bistro (1007 First Avenue Seattle). Special guests for this month's theme, Startup City, include:  

Marcelo Calbucci, Co-Founder & CTO, Every Move

Erin Devoto, Acting CTO, City of Seattle 

Rebecca Lovell, Chief Business Officer, GeekWire

Kevin Merritt, Founder & CEO, Socrata  

Sabra Schneider, Director of Electronic Communications, City of Seattle 

They will join business-savvy city staff, business owners, and advocates for a night of introductions and idea-sharing. Please check out our website for more information!

 

 

TELL YOUR COLLEAGUES ABOUT THE DAILY DIGEST! 
Are you and your friends signed up for OED's Daily Digest? Compiled from over 100 news sources, the OED Daily Digest is the best way to keep up with the latest in business, technology, workforce, industry, real estate, maritime, energy and economic development news in Seattle.

 

 

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CITY BUSINESS CASUAL - August 9 with a Startup City theme!

 

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