GMA: Moscow’s Thriving Pro-Business Climate Pays Dividends
GMA: Study shows Moscow’s economy “thriving,” pro-business climate pays dividends
Moscow’s economy was described as “thriving” in a study by two local economists who presented their findings at the Greater Moscow Economic Forum on Oct. 18 at the University Inn Best Western in Moscow.
In short, Moscow’s employment grew at a cumulative rate of 7 percent over the past five years, compared to a -4.3 percent from 2001 to 2010. What’s particularly noteworthy is the University of Idaho largely did not contribute to that growth, according to respected regional economist Steven Peterson and the study’s co-author, Tim Nadrue.
Presenting to a room-full of civic and business leaders, candidates for office and members of the community, Peterson, and Nadrue pointed to Emsi, the Moscow Food Coop, and New Saint Andrews College among other local business when explaining some of the recent growth of local industries. The Farmer’s Market, Northwest River Supply, and Gritman Medical Center were credited as significant contributors to the growth, as was sustained construction activity. The airport realignment project was hailed as an example of new-found success in inter-governmental collaboration.
As was reported in Peterson’s study from four years ago, Moscow’s retail trade and commuter income has remained a high point. The difference being that four years ago it was the only bright spot in the report, leading Peterson to label Moscow then as “Pullman’s bedroom community.” Pullman continued to outpace Moscow’s employment growth in this most recent study. But the margin has narrowed significantly. In comparison to Moscow’s 7 percent cumulative employment growth since 2012, Pullman grew at 10 percent.
The executive summary of the “Analysis of the Economic Growth of Moscow and the Regional Economy” is available on the Greater Moscow Alliance website at www.greatermoscow.org.