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The Employment Security Department
reports that Snohomish County had the fastest growing economy in the state. The county added 22,500 jobs over the year, which produced an annual growth rate of 9.2%. Aerospace led the way, adding 5,100 jobs and Health Services jobs
grew by 2,000.
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The Unemployment Rate
remained at 4.2% in December. This was six-tenths of a percentage point lower than the comparable state rate which was 4.8 percent.
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The EDC
hosted their Annual Meeting on January 30th at the Lynnwood Convention Center featuring keynote speaker Mr. Tay Yoshitani, CEO of the Port of Seattle. Mr. Yoshitani says there will be local participation in planning uses for
the Eastside Corridor, recently acquired from BNSF. The 2007 Economic Development of the Year Award was presented to Mark Kamer and Erik Laursen of CMC ICOS Biologics.The Danish firm purchased the
biotech manufacturing business formerly operated by ICOS in Bothell.
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Boeing launches work on 777 cargo jet.
The day before Boeing reported its 2007 earnings, the company marked the beginning of major assembly on its latest cargo jet by loading the 777 Freighter's wing spar into its first position. The sixth and newest model of the 777
family, the freighter accounts for more than 20 percent of the 777's backlog of 357 unfilled orders.
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Providence Everett Medical Center's new CEO,
Dave Brooks takes the helm as Everett medical center undergoes a major multiyear expansion.
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Castle & Cooke Aviation Services Inc.
of Van Nuys, California, plans to build hangars and offices for a world-class corporate jet charter service on Paine Field's west side in 2008.
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The Washington State Department of Revenue reports that taxable retail sales for Snohomish County reached $8.5 billion for the first three quarters of 2007. This is an increase of about 5% over
the first three quarters of 2006.
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The Port of Everett
said goodbye to Don Hopkins, a veteran Port Commissioner, after more than 18 years of service to the port district. Newly elected Commissioner Michael Hoffman, District 3, brings new perspective and vision to the Commission.
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The Sno-Isle Skills Center
will get a $26 million renovation and expansion as part of a renewed commitment by the state to work-force training. The Sno-Isle expansion is part of a $72 million statewide capital investment approved by the 2007 Legislature to
upgrade the state's 10 regional skills centers and help them meet emerging work force needs.
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Frontier's profitability tops in U.S.
The Everett-based bank has grown steadily and avoided problem areas, such as subprime mortgages, that have weakened other banks. Frontier achieved the top spot based on a scorecard that focused on profitability, adequacy of available
capital and the quality of the bank's assets.
Want to learn more? Visit the
EDC homepage!
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