Blaine County’s Economy in 2011

Sun ValleyMarch 2012

2

Analytical Framework

Our Approach• Blaine County level analysis• State & Local data inputs• Calendar Year basis• Inflation adjusted $’s

Blaine Co.Economy

Wages$

TaxableSales

$

Housing $ & #

Enplanements

#Hotel

Occupancy %

Skier Visit Days

Jobs#

Employ ers#

Dividend &

Interest$

Business Open &

Close #

PersonalIncome

Fore-closures

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Headline #1 – Blaine Co.’s Economic Downturn is Bottoming Out According to Taxable Sales Data

07 08 09 10 11

-40.0%

-35.0%

-30.0%

-25.0%

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

-5%

1%

-36%

-18%

6%

% Change (CPI Adjusted)

Taxa

ble

Sale

s fo

r Bla

ine

Co.

Taxable Sales ($ millions) % change

06 07 08 09 10 11$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

899856 863

629

531569

Source: Idaho Tax Commission

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Headline #2 – Largest Blaine Co. Sectors All Showing Signs of Recovery

All figures in Constant Dollars Source: Idaho Tax Commission

06 07 08 09 10 11$0

$50

$100

$150

$200

$250

$300

160 161 164

10182 85

272 271

240

158 150164

58 58 63 60 52 5957 50 58

7595 103

80 79 79

Retail – All Other

Construction & Housing

Lodging & Accommodation

Eating & Drinking

Grocery

Represent $445m or 78% of 2011 Blaine Co. economy

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Headline #3 – However, Significant Structural Adjustments in Blaine Co. Economy Over 5 Years

All figures in Constant Dollars

% Change Taxable sales 2006 vs. 2011

Source: Idaho Tax Commission

Construction & Housing

Retail - All Other

Eating & Drinking

Food & Grocey

Lodging & Accomodation

-100% -80% -60% -40% -20% 0% 20%

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Headline #4 – Majority of Retail “Top 10” Also Showing Signs of Improvement

All figures in Constant Dollars Source: Idaho Tax Commission

06 07 08 09 10 11$0

$10

$20

$30

$40

$50

$60

$70

$80

Building Supplies Farm & Garden Grocery & Food Automotive Apparel Home Furnishings Eating & Drinking Drug Stores Jewelry Sporting Goods

Represent $274m or 86% of Blaine Co. retail economy

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Headline #5 – However, Significant Retail Top 10 Also Restructured Over the Last 5 Years

All figures in Constant Dollars

% Change Taxable sales 2006 vs. 2011

Source: Idaho Tax Commission

Farm & Garden

Home Furnishings

Apparel

Building Supplies

Automotive

Sporting Goods

Eating & Drinking

Grocery & Food

Jewelry

Drug Stores

-150% -100% -50% 0% 50% 100% 150%

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Headline #6 – Blaine Co. Economy Becoming More Heavily Dependent on Tourism Sectors

All figures in Constant Dollars

$260

$156

$482

2006

$227

$117

$226

2011

Heavily Tourism RelatedModerately Tourism RelatedWeakly Tourism Related

$899 million Taxable Sales $569 million Taxable Sales

Source: Idaho Tax Commission

Increase from 46% to 60% Tourism Dependent

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Next Steps

• Integrate Housing & Tourism metrics and secure missing County-level data

• Report at Community Economic Forum on March 15. 5:30 pm Limelight Room

• Gather more detailed data at City-level and produce individual City Economic Profiles by April

• Develop methodology to prepare Gross Regional Product (GRP)

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Thank You for Your Attention