Believe Spokane Q1 2024 Update

THANK YOU INVESTORS

Believe Spokane is funded by businesses dedicated to supporting the goals outlined by the campaign which enable greater growth and competitiveness for businesses in our community. We extend our sincere gratitude to each of them as their investments pave the way for a brighter future for our economy and workforce. Their is instrumental in driving success and empowering growth.

DIAMOND PLATINUM

GOLD

BECU

GARCO CONSTRUCTION

MULTICARE

NUMERICA CREDIT UNION

PEARSON PACKAGING

PREMERA BLUE CROSS

SILVER

COMMUNITY COLLEGES OF SPOKANE

DAA NORTHWEST

DH

GONZAGA UNIVERSITY

MCKINSTRY

ROSAUERS SUPERMARKETS

UNIVERSITY OF WASHINGTON

URM STORES

WAGSTAFF

WSU SPOKANE

BRONZE

ALLIANT

BOUTEN CONSTRUCTION

CANOPY CREDIT UNION

CENTRAL PREMIX / INLAND ASPHALT

CHAS HEALTH

FRESH VUE

GESA CREDIT UNION

INLAND IMAGING

KAISER ALUMINUM

NUVODIA

PARAMETRIX

WHITWORTH UNIVERSITY

FRIENDS

BAKER CONSTRUCTION

BROADWAY TRUCK STOPS

EIDE BAILLY

MOSS ADAMS

WENDLE FORD

SUPPORTERS SNAP SUSAN STACEY

ECONOMIC DEVELOPMENT INITIATIVE IMPACT

JOBS IMPACT

Number of new primary jobs

Primary wage rate paid (hourly)

Total direct payroll

Total payroll, once all jobs are in place

Total jobs

Calculated indirect jobs created

Calculated indirect wage rate paid (hourly)

CONSUMER SPENDING

Personal income

Disposable personal income

Net personal consumption expenditures

BANKING IMPACT

Deposit potential for area financial institutions 5,000 $32.94 $342,600,000 $559,208,850 9,400 4,400 $23.67 $391,446,195 $330,811,179 $309,109,966

$48,320,486

ECONOMIC DEVELOPMENT

Create 5,000 jobs and $1 billion in new capital investment through targeted business recruitment and expansion efforts in targeted sectors

ACTION 1

31 active leads being tracked by GSI.

• The average time since direct outreach to company by email or phone is 151 days. GSI’s goal is 90 days.

• Focus is on leads from LA Basin and Puget Sound sales mission.

ACTION 2

GSI and Chris Pengra, from S3R3, the West Plains Public Development Authority attended the Nashville Site Selector Forum. Site Selectors often represent industry expansion plans.

ACTION 3

On behalf of GSI and Spokane, Mark Norton of Northwest I-90 Manufacturing Alliance (NIMA) attended the PNW Aerospace show and the Aerospace & Defense Supplier Summit. GSI is working with NIMA to identify additional aerospace and advanced manufacturing opportunities.

ACTION 4

Attended the Medical Device Manufacturing show where several company leads for Spokane were identified in the life science sector.

ACTION 5

Working with a local advanced manufacturing firm on potential $400M expansion which includes providing them with information on incentives, and a letter of support regarding the Chips and Science Act.

ACTION 6

Led partnership with the Coeur D’Alene Economic Development Corporation in a consortium pursuing the Advanced Aerospace Manufacturing Materials Center (AAMMC) as a designated Tech Hub.

Establish an opportunity fund to ensure the region can proactively react to unique growth opportunities

Increase revenues for 50 underrepresented businesses by 25% in year one and 50% in year two after utilizing the accelerator named Spokane Inclusive Business Catalyst (SIBC)

Opportunity Fund investment total as of this report = $75,000

2024 ACTION

Establish a task force to work on the design of the opportunity fund.

ACTION 1

Reporting and tracking efforts began with graduates of the first SIBC cohort. They are reporting amazing results with several of the businesses seeing revenue growth from 10% to 110%.

• “We were able to buy supplies to open up a new service to our clients.”

• “Our business revenue has increased at least 10-15%.”

• “The grant has helped us in areas such as traveling, internet, and meetings.”

• “Revenue is up roughly 111% on a prorated reporting period.”

• “The Accounting class helped me report taxes and manage everyday cash flow.”

ACTION 2

The second SIBC cohort began in March in partnership with Aim & Build Consulting & Development. Seven companies are participating from mostly rural areas with classes focused on Strategy, Marketing, HR, and Finance.

ACTION 3

Three projected cohorts in 2024 with AHANA, Women’s Business Center, and Terrain with a goal of graduating 25-30 more businesses.

ACTION

4

Applied for a $100,000 grant from NASDAQ to support expansion of SIBC program.

ACTION

1

Marketing efforts of APEX Accelerator led to services provided to 57 women owned, 11 veteran owned, and 42 BIPOC owned businesses. APEX advises businesses one-on-one on how to win government contracts and subcontracts.

ACTION

2

In partnership with DH, provided services to the SBIC first cohort graduates with AHANA.

ACTION

3

We made 36 Business, Retention, and Expansion (BRE) connections (i.e. supplier connections, grant applications, resource assistance, etc.), with 24 being provided additional services that led to growth. Of those businesses, 10 were in underrepresented categories.

TALENT ATTRACTION & RETENTION 2

Establish Spokane regional partnerships, bridging businesses with education sectors to provide a minimum of 300 internships for postsecondary students

ACTION 1

Developed a workshop to assist students in the transition from being a student to becoming an employee. The workshop is scheduled to take place in Q2 and is intended to strengthen the resilience of young adults and increase retention to the Spokane region.

ACTION 2

Created an annual calendar of workshops and networking events. The cadence of these events coincides with education and workforce timelines, increasing effectiveness.

ACTION 1

Provide workforce and employee upskill training support for 100 underserved businesses in the Spokane region through external partnerships and/or grant funding

Provide 5,000 students in the Spokane region career pathway experiences prior to high school graduation in partnership with Career Connect Washington and the Spokane STEM Network

Partnered with Wagstaff, Inc., a woman owned business, to host a Teaching the Teachers workshop with the intent to inform educators about the use of STEM in career pathways.

ACTION 2

Convened a partnership of 10 entities to obtain grant funding that will help employers track and compare needed skills with those possessed by individuals without conventional credentials. This partnership includes Refugee and Immigrant Connections Spokane, Global Neighborhood, THRIVE Spokane, and NE Community Center.

ACTION 1

Assisted Riverside and West Valley School Districts in community outreach for STEM related community events reaching 402 students in Riverside and 200 community members in West Valley.

ACTION 2

Led three Business AfterSchool events that supported 60 students in a career exploration opportunities. The events spread across the region from the Washington State University Elson S. Floyd College of Medicine, Spokane County Medical Examiner’s Office, and NEW Health Clinic in Colville.

Establish additional Spokane regional business and education partnerships to develop 30% more career pathways and the progression through pathways to postsecondary education and/ or employment

ACTION 1

Convened a partnership of 10 entities to obtain grant funding to help employers track and compare needed skills with those possessed by individuals without conventional credentials.

ACTION 2

The Teaching the Teachers workshop at Wagstaff, Inc. was attended by 19 K-12 educators and counselors and included presentations from Spokane Community College, North Idaho College, and the Machinist Institute. This event highlighted career pathways into multiple manufacturing careers, including the ability to obtain credentials.

Provide 300 Internships for Post-Secondary Students

Provide 5,000 students in the Spokane Region Career Pathway Experiences

MISSION

We lead transformative business and community initiatives to build a robust regional economy.

VISION

A vibrant Spokane region where businesses and communities thrive.

VALUES

Collaboration

We are inclusive and welcome diverse perspectives that reflect the aspirations of our community.

Innovation

We are resourceful and creative and strive for intentional progress in all that we do.

Respect

We foster mutually respectful relationships between members, our partners and the community.

WHAT WE DO

As the Spokane area’s business development organization, GSI brings regional partners together to advocate for our community’s priorities with a strong, unified voice. Together, we have a greater voice for the future of our region.

Thank you for investing in the Spokane region. For more information, contact Lisa Poplawski Lewis | (509) 321-3619 | lplewis@greaterspokane.org