CEO: Growth is good

COEUR d’ALENE - Economic development matters. It is critical to Kootenai County's future.

That was the message delivered loud and clear Tuesday by Gynii Abracosa Gilliam, president and CEO of the Coeur d’Alene Area Economic Development Corp., known as CdAEDC/Jobs Plus.

But she added a caveat.

It is not a 100-yard dash.

“If we were a race, we’d be running the Ironman, and probably the Hawaiian, grueling, Ironman,” she said during her annual report before about 300 people attending the CdAEDC/Jobs Plus Annual Meeting at The Coeur d’Alene Resort.

In a 15-minute presentation, Gilliam highlighted facts and figures that reflected the organization’s impact and show it is meeting its mission “to collaboratively advance job growth and prosperity.”

The CdAEDC represents rural communities in the region and the four larger communities: Coeur d’Alene, Post Falls, Hayden and Rathdrum.

Gilliam said the area’s average wage in 2023 was $24.36 an hour, up 51% from $16.14 in 2015.

The median household income was $68,043 in 2021, an increase of 39% from $48,864 in 2015.

Despite those hikes, Gilliam said they are not keeping up with the cost of housing.

“Frankly, I don’t know how they can,” Gilliam said, adding that they and others are working on the issue.

From 2015 to 2022, CdAEDC assisted 67 companies — including Stancraft Jets, Dauntless Air, River City Fabrication and Kenworth Truck Company - that created 3,500 jobs, annual payroll of $182 million, capital investment of $253 million and annual tax revenue of $1.7 million.

“Slowly and surely we’re contributing more to the state’s growth,” Gilliam said.

But work remains, and attracting businesses to Kootenai County is a focus.

"We cannot stop the growth happening around us,” she said.

Gilliam said partnerships are key to CdAEDC’s success. Investor member growth has climbed to 95 from 59 in 2015.

Despite its success attracting and retaining businesses, CdAEDC has not forgotten the value of caring for existing businesses because, Gilliam said, they provides the bulk of the workforce growth.

“They’re always top of mind for us,” she said.

While people might like to see faster, more immediate results, economic development doesn't work that way. It will, over time, lead to increased opportunities for citizens tomorrow, she said.

“Remember, what we do now is for the future,” Gilliam said.

"Growth is a good word," she added.

Gilliam put in a plug for support of school levies and said an educated, talented workforce must start young and is critical to the growth of local businesses.

“Let’s make sure our students have the ability to build a base," she said.

Gilliam issued a call to action and said, “All of us have a role to play.”

"Please continue to be courageous enough to use your voices, be brave enough to listen to your heart and be bold enough to lead with conviction and integrity," she said.

Guest speaker Nathan Ohle, president and CEO of the International Economic Development Council, said people can and should be involved in economic development.

“If you don’t continue to invest time, effort, money and resources in this work," Ohle said, "in five years, you're going to say, 'Why didn’t we invest?'"