How you can boost our regional economy

Here in the Idaho Panhandle, we share a common goal. Just like other regions of our great nation, we seek ways to stimulate our local economy with jobs, tax revenue, education and a better way of life.

Fortunately, there is something easy every one of us can do to help.

When people visit our region, they bring in new money to spend on retail, transportation, dining, lodging, goods and services. While they return home without creating a need for new schools and other infrastructure, their dollars remain in our communities - supporting local businesses and multiplying throughout our regional economy.

Overnight travelers to Idaho spent $1.4 billion in 2013, according to a study by Longwoods International. Only a third of that was spent on lodging, while the rest went to food, shopping, transportation and entertainment/recreation.

And there is a definite ripple effect. Employees of hotels, restaurants, gas stations, clothing stores, beauty shops, spas, art galleries, theaters and many other sectors of our economy make their living from such visitors. Those employees in turn buy cars, insurance, groceries, clothes, furniture and homes, provide church and charitable donations and pay property and sales taxes.

Hagadone Hospitality Co. has just completed a major remodel and expansion of several of the properties we own, co-own or manage, including a complete remodel of the Best Western Plus University Inn in Moscow. We are excited about the enhanced experience offered for all of our visitors, particularly group business.

Now here is the easy part. Nearly all of us are members of a company, association, church, athletic group, family or other organization that holds meetings, events and reunions. Bring them here!

The Coeur d'Alene Convention and Visitors Bureau recently launched a program called the Prospector Award, which encourages and recognizes anyone who brings group and convention business to Coeur d'Alene.

When you invite visitors, vacationers and meeting-goers to the Palouse they spend money in many areas and stimulate our region's economy. YOU become a hero.

Jerry Jaeger is president and co-owner of Hagadone Hospitality Co. and past chairman of the Idaho Travel Council and Idaho Innkeepers.