PF closes URD that created 416 jobs with $19.6 million in annual earnings
Signs hang from a fence before construction began at the Kenworth Sales site on Expo Parkway in the Expo Urban Renewal District in west Post Falls. The Post Falls Urban Renewal Agency has officially closed the Expo district, which reached the 20-year limitation allowed by Idaho statute.
Staff Writer | August 5, 2022 1:09 AM
POST FALLS — The Post Falls Urban Renewal Agency has officially closed the Expo Urban Renewal District.
The Expo District encompasses areas south of Seltice Way, west of Pleasant View Road, north of Interstate 90 and east of Beck Road on the west side of Post Falls.
As Post Falls' fifth urban renewal district to open and close, the Expo District was initially adopted by the Post Falls City Council in 2001. It closed because it reached the maximum 20-year limitation for urban renewal plans, per Idaho statute.
The Expo Urban Renewal District was created to: stimulate and expand industrial development; enhance the area for industrial and manufacturing development; improve public infrastructure and public facilities; improve transportation routes for the benefit of area business, tourism and an industrial center; and to support the creation of industrial and manufacturing job opportunities for the residents of North Idaho and Post Falls.
"Infrastructure was put in there that’s been beneficial to our community, we’ve been able to participate in attracting business out there and attracting jobs," Post Falls Urban Renewal Agency executive director Joe Johns said Thursday. "From that standpoint, it has been successful."
Nearly 100 jobs were located in the Expo Urban Renewal District when it opened. Through its life, numerous commercial and light industrial businesses have opened in the district, including Love's Travel Stop, Specialty Construction, Triple V. Plumbing, Romney Motion, Fortress Business Systems, Precision Precast Erectors, Living Stone Granite and Cabinets, Flippens Secure Storage, Momentum Ink, Pleasant View Surgical Center, Truck Insurance Office, Summit Molding and, most recently, Kenworth Sales Company.
This activity created an additional 416 jobs that generate an estimated $19.6 million in annual earnings.
"We’ve definitely seen growth out there, the benefits of putting in infrastructure and we’ve definitely seen a lot of jobs generated out there," Johns said.
When the Expo District was created, the tax base of all of the properties within the district was just more than $4.7 million. Now the tax base of the properties within the district is more than $75.4 million, an increase of more than 1,600% from the base value. Total development costs for public improvements completed within the district were just less than $4.7 million.
Johns said Post Falls presently has five active urban renewal districts with two more expected to close in the next year.
"We’ll be down to three after this coming year," he said.