The first green sprouts of tulips pushing aside the still-cold earth aren’t the only signs around here of an awakening from a long slumber.
Mother Nature performs her magic on an annual basis but winter for the area’s economy has been much longer. Still, like the swelling rhododendron buds, there are definitely signs of growth in the business world.
The most obvious came earlier with Boeing’s announced intention to assemble the 7E7 in Everett. Though first orders aren’t on the books, potential suppliers are gearing up to support the new plane.
While the Boeing decision is good news, there are many more smaller, but just as heartening, signs.
In Shoreline this week, thousands turned out to celebrate the opening of a new TOP Foods store, an investment by Haggen Inc. that took more than a decade to blossom. Other developments are on the cusp in that city’s bid to re-energize Aurora Avenue.
In Lynnwood, heavy equipment is busy on a significant expansion at Alderwood Mall, the result of an investment decision made in the darkest days of the economic cold snap. Bulldozers are also at work on the city’s new convention center, a project using the state’s public facilities district funding formula.
Edmonds, too, is using the PFD revenue stream to create a new performing arts center. And, private development money is pushing dirt around at the long-abandoned eyesore known as the Unocal tank farm. Hundreds of condominiums will spring up there, eventually a neighbor to the state’s planned multi-modal transportation center.
In Mill Creek, the long-planned Town Center project is now sprouting buildings and attracting tenants to an area that will create a new focal point for that city.
The Port of Everett just announced its own commercial and housing redevelopment in the marina area. Retailers are working on their own plans: Northgate Mall is working with Seattle to unstick expansion plans, a new Wal-Mart is coming to north Lynnwood, a new Costco to north Bothell, a new factory outlet store mall in Marysville …
The warmth of spring days are welcome in the garden. They are even more welcome in the economy.
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