Hindsight reveals five themes of 2005 that will have long term business consequence
John McDonagh is the publisher of the Vancouver Business Journal.
2005 offered significant business developments, including the stories highlighted in the review beginning on page 1 of this edition. Hindsight provides clear vision and looking back we see five trends in 2005 with long term consequences for businesses in the region.
Market Growth
The debate regarding the review of the county’s growth management plan dominated discussions and headlines. While the County Commission seems intent on expanding it, how to expand it will set the tone for where homes are built and business is conducted, and, to some extent, which businesses and industries we can recruit.
The debate regarding the review of the county’s growth management plan dominated discussions and headlines. While the County Commission seems intent on expanding it, how to expand it will set the tone for where homes are built and business is conducted, and, to some extent, which businesses and industries we can recruit.
Transportation
Freight mobility, channel deepening, arterial congestion, highway junctions – there is no end to transportation issues in the region. Transportation is the foundation for continued, sustainable growth, and decisions made in 2005 underwrite growth for the next 20 years.
Channel deepening improves the Port of Vancouver’s value as the shipping industry moves exclusively to supertankers.
The projects earmarked for completion through gas tax increases over the next three years provide the cornerstone for easing current strain on our roads and to meet the demand of growth.
Public transportation will become more important as the population grows. More of our employees will rely on public transportation, and C-Tran is positioning itself to deliver affordably and responsibly a level of service we can depend on. This fall the community soundly supported that need with key support coming from the business sector. The community will fall victim to gridlock without a strong transit system.
Education
Southwest Washington, until recently the state’s stepchild when it came to higher education, finally has a four year university coming online in the fall of 2006. The expansion of WSU Vancouver to include undergraduate courses, the talk of developing a research park near the campus, the customized workforce training initiative by Clark College and private higher education options now available in the area will allow the region to keep the best and brightest minds at home and working for our companies.
Southwest Washington, until recently the state’s stepchild when it came to higher education, finally has a four year university coming online in the fall of 2006. The expansion of WSU Vancouver to include undergraduate courses, the talk of developing a research park near the campus, the customized workforce training initiative by Clark College and private higher education options now available in the area will allow the region to keep the best and brightest minds at home and working for our companies.
Energy
Energy has been in the news throughout 2005, but it hasn’t been out of the headlines since the gas shortages in the early 1970s. Due to a number of factors, the cost of energy will be an issue for businesses for the foreseeable future.
Energy has been in the news throughout 2005, but it hasn’t been out of the headlines since the gas shortages in the early 1970s. Due to a number of factors, the cost of energy will be an issue for businesses for the foreseeable future.
As a country with a reputation for "need based innovation," it is time to focus on the development of alternative energy sources, whether for transportation, manufacturing or keeping a comfortable office temperature. Our region is among the leaders in patents and innovation in the state, – we can use that local ingenuity to create the stories of how we’ll control the rising cost of energy.
Government and business
Like energy, government and business are ongoing news themes. The significance of the recent elections was the realization by the candidates that keeping the economy strong meant addressing the business issues facing the community. Incumbents clearly won the day in most jurisdictions, but they shouldn’t take that as a "business as usual" endorsement. Every jurisdiction has businesses looking for relief from the burden of taxes and fees. At the same time, the incumbents and new to office alike seem to be looking to businesses to balance their challenged budgets.
Like energy, government and business are ongoing news themes. The significance of the recent elections was the realization by the candidates that keeping the economy strong meant addressing the business issues facing the community. Incumbents clearly won the day in most jurisdictions, but they shouldn’t take that as a "business as usual" endorsement. Every jurisdiction has businesses looking for relief from the burden of taxes and fees. At the same time, the incumbents and new to office alike seem to be looking to businesses to balance their challenged budgets.
Clearly, the region continues to be where employers want to locate and where families want to live. The business community must come together to create a vision for our region, plan appropriately for the growth and build the infrastructure to support it. As you read the Vancouver Business Journal in 2006, we’ll be writing your stories and we expect to see these trends reflected in them.