California based think tank company Milken Institute has released a report this week on the Top US Metro Areas that managed to create and sustain jobs in light of the national recession. The Kennewick-Richland-Pasco area is ranked number five on this list of 13 metro areas for the second year in a row. During the last 12 months the Tri City Washington area’s job increased by 4.5 percent, this is the highest percentage growth in the nation. This large increase in jobs is due mostly to the stimulus money coming in for Hanford.
President and CEO of the Tri City Development Council, Carl Adrian says that it is a great thing to have our area out there on a list such as this one because it allows for the planning of ideas for creating broad-based prosperity and the implementation of such ideas. The Tri Cities has begun to rely less and less on the work out at Hanford and more so on a diversified economy.
Currently there are increasingly more businesses moving into the area that are not affiliated with Hanford. For example the Mid-Columbia Energy Initiative has made plans to turn the Hanford site into a carbon friendly power producing, energy demonstration and manufacturing site. The Tri Cities is continually growing in the fields of manufacturing medical equipment, food processing, health care services, and the wine industry. Each of these areas allows the Tri Cities to continue diversifying and getting away from our previous reliance on Hanford.
Our great economy is combined with the quality of life and outstanding weather has drawn many retirees into the Tri Cities to settle down. These retirees are moving into the area and helping to sustain our local economy by spending money locally. Another result is the development of a health care system that is poised for growth.
Posted by Joe and Colleen Lane, your Tri Cities Real Estate Agents. Call or email us today! 509.438.9344
by Colleen Lane
The Lane Real Estate Team
(509) 438-9344 - Colleen cell
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