Thurston EDC Releases Economic Vitality Index
From South Sound Business:
The Thurston Economic Development Council and report sponsors Port of Olympia and South Puget Sound Community College have announced the release of the Thurston Economic Vitality Index, which suggests that conditions for the county’s economy remain favorable.
The EDC’s intention behind the report and the data is to serve as planning tools to help businesses and communities in creating and implementing strategies for action.
The index currently stands at 116.1 — just .5 points lower than its 116.6 height before the COVID-19 pandemic. According to the EDC, “while it appears a correction is in process, conditions for Thurston County’s economy are still very favorable relative to what it endured during the COVID-19 pandemic when the index reached its historical low of 80 points.”
The EDC also noted that the Housing Affordability Index indicates the cost of housing in Thurston County, as well as throughout Washington State, has continued its trend toward a less affordable marketplace for both middle-income and first-time homebuyers. The lack of parity in the housing market has been highlighted as one of the most important economic challenges facing the region.