Posted by Nate Peters on Feb 14, 2018
Thurston County Economic Trends and Real Estate Activities
February 14, 2018 - Nate Peters
 
Michael Cade, Executive Director of the Thurston Economic Development Council, spoke at Gateway Rotary about the upward trends happening in Thurston County. There are indicators of trends and significant opportunities for growth within our county, Cade said.
Olympia was ranked as one of the best cities in the United States by National Geographic (online article).

With this in mind, the Thurston Economic Development Council recently released data from its Thurston County Economic Vitality Index for 2017. Over 78 percent of people surveyed reported their business profit margin is coming from market/demand growth within the county. While government and public affairs sectors are still one of the largest contributors in the county, the survey showed an upward trend over the past seven years of the private sector employers increased approximately 10 percent as the
while government and public affairs sectors only increased 3 percent.

The three cities of Olympia, Lacey and Tumwater and the Port of Olympia are fostering new business development and are thus attributing to these increase in trends. Tumwater has an emerging retail center and a growing brewing and warehouse district. Lacey is growing in new sectors of business through partnerships: aerospace and technology sectors with Off Planet Research housed at Saint Martin’s University, a growing business hub at the Woodland Square District, an entrepreneur and innovation center in partnership with South Puget Sound Community College, and the plans to build a Lacey Makerspace.
 
The City of Olympia plans to construct new housing units, a shared workspace center, and is a continued driver for the region’s life sciences from its medical sector. The installation of fuel docks and the development of mixed-housing and work spaces are helping establish the Port of Olympia as an emerging industrial and warehouse region.