economic almanac 2015

7/25/2019 Economic Almanac 2015

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O N E C O P Y F R E E A L L O T H E R S 5 0 C E N T SW W W . M T E X P R E S S . C O M / S P E C I A L 2015IDAHO MOUNTAIN

ExpressExpressAND GUIDE

ECONOMIC

ALMANACB L A I N E C O U N T Y B Y T H E N U M B E R S

W E D N E S D A Y , S E P T E M B E R 3 0 , 2 0 1 5 V O L U M E 4 0 | N U M B E R 8 8

Keynote speakertackles relevant

educational frontiersGordon Jones heads up

new College of Innovation at Boise State

By RYAN THORNEExpress Staff Writer

ordon Jones started on the path to innovation atan early age. Raised in an environment of tech-nology and new approaches to lifes problems, he

said he was inspired by his family.I remember when my father bought our first computer

back in the late 1970s, Jones said. He caught on to theidea that these computers were the wave of the future.

Jones will be the keynote speaker, highlighting inno-vation, at the 2015 Economic Summit, put on by thenonprofit Sun Valley Economic Development group onWednesday, Oct. 7.

The concept of innovation, he said, excited him whenhe was able to oversee students who tackled ideas andpioneered new inventions and ways of thinking duringhis stint as inaugural managing director of Harvard Uni-versitys Innovation Lab from 2011 to 2015. There are a lot of problems we face in the world anda lot of great ideas, he said. The question is how dopeople get equipped to build thenetworks, develop the skills or

access the expertise they needto really turn those ideas intoreality. He said that back in 2010,Harvard staff members wantedto create an environment in whichstudents are encouraged to applythe education they had obtainedin the classroom to innovate,taking them as far as they couldgo in a university-wide interdisci-plinary fashion.

There was a recognition at the university that the cur-riculum was more focused on students learning in a morepassive or theoretical way, he said. Jones said student projects included innovations in thearea of pharmaceuticals, Cloud-based television, counsel-

ing for school districts and new ways to consume musicon smart phones. In the four years I was operational at the i-lab, wehad 20 percent of the student body coming through, hesaid. We had 600 projects that raised over $250 millionin professional funding. Now that Jones has moved to Idaho and is the found-ing dean of Boise States new College of Innovation andDesign, he said he is helping to create an environment inwhich students can innovate in the Gem State. Thats really why Ive been so excited about the workI have started at Boise State, he said.

Jones said he was drawn to Boise State because hesees a shift in education at public universities, which arewhere most college attendees are enrolled. He said edu-cation opportunities such as those at Boise States Col-lege of Innovation and Design will provide a tech-savvygeneration with challenging, job-oriented educationalopportunities, which should pique interest and increaseenrollment. Boise State offers studies in art, psychology andcomputer design, he said. Were a college thats asking,What if we come up with a major that works across thoseboundaries? Jones said a gaming, interactive-media and mobile-technology major, part of the College of Innovation andDesign, uses insight from psychology, human empathyand the narrative capability of the arts in conjunction withtechnology studies to promote new ideas and innovationsin a future university and workforce setting.

We like to think about what new majors will comeout five or 10 years from now, he said. Im drawn toa place like Boise State that will say, Absolutely, we willtake those kinds of investments into the future so it willhelp us stay relevant down the road.

Gordon Jones

n the world of big-time mountain resorts, the Sun Valley area isnt thebig dog on the porch. But as every dog owner knows, size isnt the soleindicator of strength, determination, creativity or success.

In its fourth Economic Summit, the nonprofit Sun Valley Economic Devel-opment group will concentrate on creativity and innovation in its annualdiscussion of stabilizing and growing local businesses while maintaining thequality of life in the Wood River Valley. It will also look at current trends inthe local economy. Boise State Universitys Gordon Jones, recently appointed head of the Col-lege of Innovation and Design, will keynote the summit. When it comes to the nuts and bolts of building businesses, Jones has beenaround. Hes worked with businesses ranging from startups to Fortune 500companies. Hes also an expert in establishing business incubators. (See hisstory, this page.) Sun Valley Economic Development Executive Director Harry Griffith saidthis years summit format is different from other years in that the session willbe shorter and that facilitators will solicit ideas from participants, who willbreak into groups over a working lunch to exchange ideas and strategize.Panels of speakers and the strategy groups will concentrate on three mainareas: Building the local business start-up ecosystem. Innovation in cultural and recreational tourism. Breaking through housing and land-use obstacles.

Following the summit, Sun Valley Economic Development will compilethe ideas generated and report them to the community.

Earlier summits have drawn up to 250 businesses, nonprofit and govern-ment leaders to network, engage in important dialogue and come away withnew insights and strategies, summit organizer Doug Brown said.

This years summit will take place Wednesday, Oct. 7, from 8 a.m. to 2p.m. in the Limelight Room at Sun Valley Resort. Participants may attendonly the keynote address for $50. A $100 ticket also includes lunch, all speakerpanels and discussions.

Coffee and networking will begin at 8 a.m. The keynote speaker willbegin at 9:10 a.m. Other speakers and discussions will begin at 10:15 a.m.

The event is a fundraiser for Sun Valley Economic Development, the onlynonprofit-private partnership organization in the valley that brings economiceducation and advocacy to bear on issues that affect businesses and commu-nities in Blaine County. Registration and payment for the summit may be done online at Sun ValleyEconomic Developments website, www. sunvalleyeconomy.org.

Economic Summitto talk local trends

and innovationShorter day will cover startups, tourism,

housing and land use

By EXPRESS STAFF

2015Economic Summit

Succeeding in the Age of Innovation:

New Strategies for Local Challenges

Wednesday,

October 7th, 2015,

Sun Valley Resort, Limelight Room

A fundraiser for Sun ValleyEconomic Development

8-9 a.m.

Registration, coffee & networking

9-9:10 a.m.

Welcome and introduction

(Doug Brown, SVED)

9:10-10 a.m.

Keynote: InnovationGordon Jones, Boise

State University College of Innovation and

Design.

10-10:15 a.m.Coffee break

10:15-11 a.m .

Panel 1: Building our Business Start-Up Ecosystem

11-11:45 a.m.

Panel 2: Innovation in our Cultural & Recreational

Tourism Sectors

11:45-noon

Presentation: Blaine County Growth Aspirations

(Harry Griffith, SVED)

Noon-12:45 p.m.

Panel 3: Breaking Through Housing & Land- Use

Obstacles

12:45-1:20 p.m. Lunch

1:20-2 p.m.

Breakout Sessions & Action Steps

Particip ants will have two attendance options.

Those interested only in the keynote address will

be able to buy a $50 ticket, while those who

want to be part of the entire program (including

lunch) will be able to attend for $100. To register,

go to http://w ww.sunvall eyeconomy.org /summ it-

sche dule.

Passengers disembark a flight at Friedman Memorial Airport in Hailey. Efforts to expand flight schedules into the Wood River Valley haveyielded success, with three airlines collectively offering direct flights to Friedman from Denver, Los Angeles, Salt Lake City, San Francisco andSeattle. To read more about air service in the valley, turn to Page 10.Express photo by Roland Lane

G

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Express www.mtexpress.com Wednesday, September 30, 2015 3GROWTH

52

22

77195

Commercial Air to SUN

General Aviation to SUN

Regional Air/Drive to BC

Drive to Blaine Co.

Total Unique Visitors=345,000

Total Visitor Days=1.8 million

Source: Data from Visit Sun Valley, analysis by Sun Valley Economic Development

UNIQUE VISITORS BY MODE OF TRANSPORTATION

(in thousands)

64

64

60

157

2nd Homeowner

Visitors - Day

Visitors - Friends & Relatives

Visitors-Paid Accommodation

Total Unique Visitors=345,000

Total Visitor Days=1.8 million

Source: Data from Visit Sun Valley, analysis by Sun Valley Economic Development

UNIQUE VISITORS BY MODE OF ACCOMMODATION

(in thousands)

$300

$8$83

$2582nd Homeowner

Visitors - Day



Source: Analysis by Sun Valley Economic Development

DIRECT ECONOMIC IMPACT BY VISITORS(in millions)

$650

$17$179

$559 2nd HomeownerVisitors - Day




TOTAL ECONOMIC IMPACT BY VISITORS(in millions)

$- $5 $10 $15

2nd Homeowner

Visitors - Day



1-Yr Growth Opportunity ($m) 1-Yr Conversion Opportunity ($m)


TOURISM GROWTH OPPORTUNITY: NON-FULLTIME RESIDENTS (in millions)

- 2,000 4,000 6,000

2nd Homeowner

Visitors - Day



# Frequent Visitors> 2nd Homeowners # New Visitor> Frequent Visitors

# New Visit Days


TOURISM GROWTH OPPORTUNITY: NON-FULLTIME RESIDENTS

ow do tourists travel to the Wood RiverValleyand how wide do they open theirwallets? Do we want their trips and spending

here to increase? And, if so, by how much?

At the upcoming Sun Valley Economic Develop-ment forum in Sun Valley, Executive Director HarryGriffith wants people to ask themselves whether wewant to increase that number. If the answer is yes,he wants to know how much and in what way. According to Sun Valley Economic Development,in 2014, tourism spending accounted for 78 percentof the Wood River Valleys GDP proxy of $1.8billion. Its not a federally calculated GDP, Griffithexplained, because we arent a metropolitan statisti-cal area. However, Sun Valley Economic Developmentused an economically valid approach to calculate theproxy number, he said.

Though the valleys economy is solidly rooted intourism, Griffith said an effort could be made towardincreasing full-time residents in the valley. Its less of afinancial gain, but one that could boost the year-roundeconomywhile tourism peaks in summer and winterseasons.

While the overall bang for our buck is tourism,we need that base, Griffith said.

Visitor profileand economic impact

There were about 345,000 unique visitors to thevalley last year. Most of those touristsabout 56 per-centdrove here. The second-highest visitor demographic flew intoa regional airportTwin Falls, Boise or Salt LakeCityand then drove the rest of the way to BlaineCounty. That group accounts for 22percent of the total. Of those whotraveled on commercial flights, 40percent came through FriedmanMemorial Airport in Hailey.

The smallest group of visitorscame on private airplanes. The cav-iar-and-champagne contingencymakes up some 6 percent of 2014visitors.

About 45 percent of visitors had a paid reservationfor lodging. Day visitors and second-home owners each madeup 18.5 percent of the total. Those who stayed withfriends or relatives made up 17 percent of visitors in2014.

Its a little harder to calculate the economic impactthose 345,000 unique visitors had. A couple couldstay for a week in the summer and return two monthslater to buy a second home. It might not be a directeconomic impact for the summer, but thats a largeamount of cash going into local coffers. Therefore,

indirect economic impacts are also tallied.Griffith estimates that visitors had a $650 million

direct impact on the local economy in 2014. Thats allthe money they spent while they were hereon hotels,restaurants, retail, recreation and more. Second-home owners spent $300 million of thetotalaccounting for 46 percent of all direct spend-ing. Those who stayed in paid accommodations spent$258 millionalmost 40 percent of the total. Peoplestaying with friends or relatives spent $83 million, or13 percent, and day visitors were responsible for $8million of 2014 spending, or just over 1 percent.

The total economic impact of visitors last yearcomes in at over $1.4 billion, when indirect expendi-tures and the multiplier effect are taken into account,according to Griffith. Thats 78 percent of the totalvalley GDP of $1.8 billion. Second-home owners

spent $650 million, those who paid for lodging spent$559 million, those who stayed with friends or rela-tives spent $179 million and day visitors spent $179million.

Growth aspirations Griffith came up with simulated growth percent-ages for these four types of visitors year-over-year. Atwhat he calls a reasonable rate, he said the valleycould expect a 4 percent average growth ratewith12,000-plus new visitors and an added direct eco-nomic impact of $27 million. Theres also a conver-sion opportunity in hereturning new visitors intofrequent visitors, and frequent visitors into second-home owners. He thinks turning new visitors intofrequent visitors will be easier than getting regularvisitors to buy homes here.

[A] second-home purchase is a major financialdecision, Griffith said. Something most people donttake lightly. However, to come back to the same placetwo or three times a year is small financial exposurefor a lot of fun.

On the non-tourism side, Griffith said bringing 100new families to the valley would deliver about a $10million increase to the GDPwith each family gener-ating an economic impact of about $100,000 per year.While there is some overlap, residents would spendmoney differently than touristson housing, educa-tion, recreation, health care and business formation.

Arlene Schieven, executive director of the SunValley Marketing Alliance, says 4 percent is a conser-vative estimate. Based on her organizations occupancycounts, theres been a 17 percent increase in roomnights sold between last October and now. That was

a high-growth year, and she acknowl-edges that sustaining it is unlikely. Still,even a single-digit increase would put astrain on our local resources after, per-haps, five years of continual growth,

Griffith said.Think about what Atkinsons

Market is like now, he said, citingdowntown parking and seasonal peaks.

Schieven said there were times inJuly when there were no rooms availableand maybethe communitys goal should be to even out peaksto fill rooms in the quieter months.

This is the harder side of growth that we need tothink about, Griffith said. We need to be planningon the new hotel beds filling up, even more peoplewanting to come and managing the delivery of a qual-ity tourism experience. Griffith said Sun Valley Resort records about387,000 skier days nowand another 100,000 dayscould be easily handled. But beyond that, Bald Moun-tain would start to see lift lines in peak periods.

We can be formulaic and set targets, or we can beflexible and say, OK, if we grew by this, what wouldthat do, and how would that factor into our qualityof place? Griffith said. We need to have a debateabout that as a community. Seasonal plane flights occur now in peak summerand winter times. Schieven said perhaps the commu-nity will want to consider promoting extending thoseflights into the fall and beginning earlier in the spring.In slack seasons, the Marketing Alliance focuses onregional marking campaigns to compensate for thelower number of flights. If the peak flight seasonswere extended, Schieven said, marketing could adjustaccordingly. Those are the broader discussions, she said. Weneed to come up with what is the desired end result.

How much should we grow?Community needs to consider lifestyle versus economic gain

By AMY BUSEKExpress Staff Writer

We need to come

up with what is the

desired end result.Arlene Schieven

Sun Valley Marketing Alliance

H


4/16

4 Express www.mtexpress.com Wednesday, September 30, 2015RESORT COMPARISONS

he population of BlaineCounty is slightly olderthan other Rocky Moun-

tain resort counties and it doesnot bring in quite as much income,but many people here have a muchbetter shot at buying a home thanin the resort areas of Jackson, Wyo.,Aspen, Colo., and Breckenridge,Colo. Thats just part of what one canglean from a series of comparisonsof communities built around majorski areas in the Rockies. In the com-parisons, Blaine Countythe homeof Sun Valley Resortis measuredagainst Teton County, Wyo. (Jack-son Hole); Pitkin County, Colo.

(Aspen); Eagle County,Colo. (Vail); San MiguelCounty, Colo. (Telluride);Summit County, Colo.(Breckenridge, CopperMountain and Keystone);Routt County, Colo.(Steamboat); and SummitCounty, Utah (Park City). Of the seven resortcounties, populationgrowth from 2010 to2014 was the slowest inBlaine County, whichgrew only .5 percent, to21,482. Thats less thanhalf of the population

of Eagle County, Colo.,which in 2014 had apopulation of 52,921. The highestgrowth percentage over the four-year span was in Teton County,Wyo., which has a population onlyslightly higher than that of Blaine.Most of the growth in Eagle Countycame from births, the data shows.Eagle County and Blaine Countywere the only two counties in thecomparison that had a net loss inmigration. All of the counties studied havepopulations that are predomi-nantly white, though Eagle County;Summit County, Colo.; Summit

County, Utah; Teton County; andBlaine County have significantnumbers of Hispanics.

The median age of people inBlaine County is about 42, high-est among the seven resort counties

except for Pitkin County, Colo.,which in 2014 had a median age ofnearly 44. Among those compared,the county with the lowest medianage is Eagle Countyjust under 35.The median age in the United Statescame in at about 37. In all of thecounties, the median age of Hispan-ics is well below that of whites. While all of the counties havepopulations with a higher percent-age of people with higher-educationdegrees than the national average,Blaine had the lowest percentage,but only by a small number. Justbelow 45 percent of Blaine residentshave a bachelors degree or higher,while almost 57 percent of the res-

idents of Pitkin Countyhave higher-educationdegrees. Thats com-pared to just below 29percent for the countryas a whole.

The per-capitaincomes of people inTeton County, PitkinCounty and SummitCounty, Utah, soaredabove the others in thestudy. In Blaine County,the per-capita incomegenerated by investmentsexceeds that generatedby wages.

However, peoplein Blaine County who

make the median income with agraduate or professional degreehave a much better chance of beingable to buy a median single-familyhome than do residents of the othercounties, the data shows. Only inBlaine and Summit County, Utah,do people of those criteria earn theincome needed to make the dreama reality, although only by a slightamount. In Teton County andPitkin County, the amount neededto buy a single-family home farexceeds the median income of pro-fessionals. In the United States as a

whole, the goal of owning a single-family home is much more attain-able for professionals; the amountneeded is about one-third of themedian income for that category ofresidents.

Of the

seven resort

counties,

population

growth

from 2010

to 2014 was

the slowest

in Blaine

County.

How do we compare withother resort areas?

Research compares Blaine to similar counties inColorado, Utah and Wyoming

By GREG FOLEYExpress Staff Writer

T

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$20,000

$30,000

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$50,000

$60,000

$70,000

$80,000

$90,000

$100,000

Median Income w/ graduate

or professional degree

Income Needed to Buy

Median SFH

Source: U.S. Census Bureau, Analysis by Charture Institute, Jackson, Wyoming

MEDIAN INCOME W/GRADUATE OR PROFESSIONAL

DEGREE VS. INCOME NEEDED TO BUY MEDIAN

SINGLE-FAMILY HOME

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Express www.mtexpress.com Wednesday, September 30, 2015 5

RESORT COMPARISONS

i i i i l l i I i l . .

i

I

Teto n, W Y Blain e, ID Ro ut t, CO Su mmit , UT E agl e, CO S an Migu el, CO Pit kin , CO S ummit , CO

Non-Fed Lands 76,734 379,211 854,247 673,122 232,776 333,704 57,839 81,367

BuRec 11,541 4,905 0 5,957 18,604 43 43,874 560

BLM 10,896 606,008 80,444 455 235,454 315,000 26,983 2,240

F&WS 4,677 750 0 0 0 0 0 0

USFS 1,372,002 490,135 582,509 525,832 597,343 173,217 492,787 309,885

NPS 1,224,096 222,041 0 0 0 0 0 0

0

500,000

1,000,000

1,500,000

2,000,000

2,500,000

3,000,000

Source: Federal Agencies

2014 TOTAL ACREAGE, BY FEDERAL LAND OWNERSHIP

Eagle

CO

Summit

UT

Summit

CO

Routt

CO

Teton

WY

Blaine

ID

Pitkin

CO

San

Miguel

CO

2014 52,921 39,105 28,649 23,865 22,930 21,482 17,626 7,840

2010 52,197 36,324 27,994 23,509 21,294 21,376 17,148 7,359

% Change 1 .3 9% 7 .6 6% 2.34 % 1.51 % 7 .6 8% 0 .5 0% 2.79 % 6.54 %

0

10,000

20,000

30,000

40,000

50,000

60,000

AxisTitle

Source: U.S. Census Bureau

2010-2014 POPULATION CHANGE

-2000

-1500

-1000

-500

0

500

1000

1500

2000

2500

3000

3500

Blaine ID Routt CO Eagle CO Pitkin CO Summit

CO

San

Miguel CO

Teton WY Summit

UT

Births minus Deaths Net Migration Net Population Gain


COMPONENTS OF POPULATION CHANGE: 2010-2014

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

Eagle CO Summit

UT

Summit

CO

Routt CO Teton WY Blaine ID Pitkin CO San

Miguel

CO

White Hispanic Other


TOTAL POPULATION BY ETHNICITY

0

5

10

15

20

25

30

35

40

45

50

U.S. Eagle

CO

Summit

CO

Teton

WY

Summit

UT

San

Miguel

CO

Routt

CO

Blaine

ID

Pitkin

CO

White

Total

Hispanic

'


2013 MEDIAN AGE, OVERALL AND BY ETHNICITY

28.1%

15.9%18.6%

16.3% 18.9% 22.4% 16.6% 18.7%

9.7%

29.0%

30.0% 23.1%

31.8% 30.0% 25.7% 27.7%

23.9%

29.5%

28.8%

44.7% 47.0% 47.6% 48.0% 48.7% 48.8%53.5% 56.8%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

U.S. Blaine ID Eagle CO Summit

CO

Routt CO Teton WY Summit

UT

San

Miguel CO

Pitkin CO

No high school degree High school degree Some college Bachelor's degree or higher


PEER COUNTIES EDUCATIONAL ATTAINMENT

Teton, WY Pitkin, CO Summit, UT Summit, CO Routt, CO Eagle, CO Blaine, ID San Miguel, CO U.S.

Wages $45,426 $43,368 $54,679 $27,737 $34,565 $32,909 $29,575 $28,948 $28,679

Pensions $4,670 $4,590 $3,945 $3,337 $4,310 $3,099 $5,500 $3,220 $7,638

Investments $55,725 $35,466 $23,934 $18,296 $20,510 $14,409 $32,438 $16,838 $8,448

$0

$10,000

$20,000

$30,000

$40,000

$50,000

$60,000


2013 PER CAPITA INCOME BY INCOME TYPE


6/16

he real estate market in

Blaine County reboundedin 2014, bringing total

property values from just over $8billion in 2013 to just above $10billion in 2014, yet affordable anddeed-restricted rental and purchas-ing options remain in short supply.

We still have relatively afford-able options for second-homeowners in Blaine County, comparedto other resort areas, said BlaineCounty Housing Authority Exec-utive Director David Patrie. Yet,low-level wage earners continue tostruggle to get into affordable homeownership and rentals here. The average monthly rent for

a three-bedroom house rose high-est last year in Sun Valley, to about$2,500 per month, based on a tallyof properties listed in the IdahoMountain Express. Rents rose lesssharply in Ketchum and in the unin-corporated areas of Blaine County,to $2,200 and $1,600 respectively.

Rents dropped slightly last yearin Hailey and remained flat in Bel-levue. Both cities offer rents at abouthalf the cost of the north valley,about $1,250 for a three-bedroomhouse.

Blaine County, with a popula-tion of 21,329, has a much smallersupply of affordable rental anddeed-restricted housing optionsthan other comparable Westernmountain resort areas. The BlaineCounty Housing Authority, whichadministers a list of potential buyersand renters for 96 rental and deed-restricted units, has an inventoryof only five units per 1,000 resi-dents. The Aspen, Colo., area, withonly 17,370 residents, is far betterequipped to provide workforcehousing with 2,815 deed-restrictedunits, or 162 per 1,000 residents. The Jackson, Wyo., area, witha population of 22,268, has 1,500deed-restricted units, 15 times thenumber offered in the Wood RiverValley per capita. Vail, Colo., and

Park City, Utah, have nearly threetimes the number of affordablehousing units as does the Sun Valleyarea. A large factor in this is thatwe dont have the same fundingmechanisms that are available inWyoming and Colorado, such asthe ability to institute a real-estatetransfer tax to fund deed-restrictedhousing. Aspen has been doing thissince the 1970s, Patrie said. Patrie said the only govern-mental tool for creating affordabledeed-restricted housing in the WoodRiver Valley is Ketchums incentive-based inclusionary zoning ordi-

nance, which grants more densityto developments in certain zonesthat include such housing. Zoningcodes in Blaine County, Hailey andSun Valley that required develop-ments to include a certain percent-age of deed-restricted housing wererepealed six years ago after a dis-trict court ruled against the legal-ity of such an ordinance in McCall,Idaho.

Resort areas typically see widefluctuations in seasonal popula-tions. Ketchum and Sun Valley havehistorically contained the highestnumber of seasonal and rental hous-ing units in the Wood River Valley.

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'' ' ' '

ll

l

r

ll

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

Seasonally Occupied

Renter Occupied

Owner Occupied

Source: U.S. Census Bureau/American Fact Finders

TYPE OF HOUSING OCCUPANCY

$1,442 $1,407 $1,283 $1,065 $863 $713 $710 $914

$3,717 $3,787 $3,599$3,175

$2,912$2,586 $2,459

$2,739

$2,666 $2,717$2,664

$2,524

$2,230$1,998 $2,015

$2,189

$4,206 $4,224$3,976

$3,567

$3,202

$2,864 $2,817

$4,072

$-

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

'07 '08 '09 '10 '11 '12 '13 '14

UnincBC

Sun Valley

Ketchum

Hailey

Carey

Bellevue

'

'

'

Source: Blaine County Treasurer

TOTAL ASSESSED PROPERTY TAX VALUE BY CITY(in millions)

' ' ' ' ' ' ' '

-

0.50

1.00

1.50

2.00

2.50

3.00

3.50

Bellevue Carey Hailey Ketchum Sun Valley All BC

'00

'10

'12


AVERAGE HOUSEHOLD SIZE(number of persons)

$-

$500

$1,000

$1,500

$2,000

$2,500

Bellevue Carey Hailey Ketchum Sun Valley UnincBC

'12

'13

'14

Source: Blaine County Housing Authority

AVERAGE MONTHLY ADVERTISED RENT FOR 3BD UNIT(per month)

Housing options range widely acrossthe Wood River Valley

Area offers relatively few options for deed-restricted workforce housing

By TONY EVANSExpress Staff Writer

T


7/16


HOUSING

OUR COMMUNITY INVESTMENT

IN AIR SERVICE IS WORKING

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IS INVESTING FOR THE FUTURE

Fly SUN.Non-stop to DEN, LAX, SEA, SFO, SLCONE-STOP TO THE WORLD

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$35M Federal and local investments in SUN airport improvements

New terminal reconfiguration that upgrades air passenger experience

Master Planning to ensure robust commercial/general aviationtransportation service (public involvement welcome!)

Ensuring FMA facilities support the communitys air service needs

Non-stop flights from 5 cities via 3 airlines; 23% more seats from 2013- 2015

Thousands of NEW visitors; more trips by repeat visitors/2nd homeowners

More flight options, more convenience, lower fares

$ millions in hotels & airport investments and related jobs

HOUSINGResort housing market brings high values, some challenges

CONTINUED FROM PREVIOUS PAGE

827

995

1,637 1,356

2,041

2,041

2,7342,751

-

1,876

1,975 2,178

-

2,500

5,000

7,500

'90 '00 '10 '12

Sun Valley

Ketchum

Hailey

Carey

Bellevue

Source: U.S. Census Bureau/American Fact Finders

SEASONAL AND RENTAL HOUSING UNITS BY CITY

We dont have the same

funding mechanisms that

are available in Wyoming

and Colorado, such as the

ability to institute a real-

estate transfer tax to funddeed-restricted housing.

Aspen has been doing

this since the 1970s.David Patrie

Blaine County Housing Authority

In Ketchum and Sun Valley, the average household size is just under two peo-ple. Many of the housing units in the area are not occupied full-time.Express file photo

Both towns saw a slight increase in the number of these units between2010 and 2012, the last year for which data are available. During the sameperiod, the number of seasonal and rental units in Hailey dropped, whileBellevue saw a slight increase.

Hailey, Ketchum and the unincorporated areas of Blaine County havethe highest number of renter-occupied dwellings. Bellevue has more thantwice the number of renter-occupied dwellings as Sun Valley.

Hailey and the unincorporated areas of Blaine County have the highestnumber of owner-occupied homes, while Sun Valley and Ketchum havethe highest number of seasonally occupied dwellings, many of which areoccupied only a few weeks each year. The number of people living in a house can be an indicator of manythings: how efficiently a house is used, the availability of larger homes orthe size of families in a particular area. Between 2000 and 2012, the cityof Carey maintained the highest average household size, just over threepeople, followed by Hailey and Bellevue, which both saw fluctuations inhousehold sizes during the same period.

The size of households in Ketchum and Sun Valley remained flat duringthat time at just under two people.

Household sizes dropped steadily in all of Blaine County, from morethan 2.52 in 2000 to about 2.3 in 2012, the last year for which data areavailable.


8/16

8 Express www.mtexpress.com Wednesday, September 30, 2015BUSINESS & JOBS

f someone wanted to start a tech company, whywould he or she come to Ketchum, a mountaintown 1,000 miles removed from startup meccas

like Silicon Valley or Seattle?

Thats the wrong question to ask, says Jon Duval,executive director of the Ketchum Innovation Center,a business incubator that launched in 2014. Looking at the top-shelf skiing, mountain biking,hiking and lifestyle offered in the Wood River Valley,Duval says, the better question is why wouldnt you?

Were not Seattle, he said. Were not San Fran-cisco. We have the unmatched lifestyle. Theres going tobe a certain percentage of people who are super smartwho realize they can do [a startup] from anywhere, andwant to go out skiing at lunchtime. You can have both.

Startup ecosystem The concept is simple enough: The KIC, as itsknown colloquially, leases a 5,000-square-foot housein the northern part of Ketchums light-industrial area,which is enough space to house five startups at themoment.

The startupsno more than a founder, a businessplan or a handful of employeeschip in $200 to $600 amonth to cover utilities, Internet service and other costs. In exchange, they get connections with a networkof Wood River Valley-based entre-preneurs, mentors and advisers, aswell as seed funding. Funding isexchanged for equity stakes in thecompany. Boise State Universitys VentureCollege has partnered with KIC,offering a six-week lean launchprogram. It helps focus new entre-preneurs on answering four ques-tions: Whats your value? Whosyour customer? Whats the problemyou hope to solve? And, crucially, is

anybody going to pay you for that? Duval said a potential businessshould have that focus before everdrawing up plans for marketing,production or seeking patents. Six to eight companies can par-ticipate in the course, and its notlimited to those that occupy space in the KIC building. Its helping companies get off the ground cleanlyand efficiently, Duval said. Were not dealing withstudents. Were dealing with people who have other jobsor ventures that theyre trying to get off the ground. Duval said the center has also hosted workshops fea-turing attorneys from the Boise law firm Hawley Trox-ell, Idahos largest business law firm, on patent law, andrepresentatives from Zions Bank. The business incubator idea isnt new. More than

1,000 exist across the United States, with some focusing

on specific industries or with expiration dates for start-ups to move out. The KIC focuses more broadly, Duvalsaid. It has no rules on which industries are allowed andwhich arent.

The current occupants could stay for one to two years,though three former occupants have already moved out.Duval said the lack of restrictions is because each

company will measure its success differently, and theKIC is intended to provide community benefits via jobcreation and economic development. Its not just aboutthe return on investment for the investors, he said. Were open to what we would consider Main Streetbusinesses, Duval said. Were open to any startup. Ifyoure a part of the entrepreneurial ecosystem and wantto grow, you can be here.

Growth aspirations, challenges Since starting in February 2014, the KIC has alreadyrun out of space to fill at its location at 100 LindsayCircle. Its looking for additional space to expand itsoperations, Duval said, but thats a challenge in a townlike Ketchum, where optimal business space can come

at a high premium.The KIC is mostly funded through the city of Ket-

chum, paying Duvals time in running it as well as prop-erty taxes. The U.S. Department of Agriculture has

contributed one grant worth $15,000and two $8,000 grants to buy com-puter equipment and a 3D printer.

But the City Council has chargedthe KIC with becoming more self-sustaining, Duval said. The KetchumCommunity Development Corp., anonprofit created and funded by thecity, operates the KIC. Duval is theexecutive director of the KCDC.

Duval said hed like to see KICeventually own more space that itcould offer to startups, which would

bring in revenue from rents. What-ever rent does come in now is passedthrough to the owners of the build-ing, he said.

To expand over the next threeyears, the KIC is looking at a6,000-square-foot portion of the

former Scott USA building in Ketchum. The estimatedprice is $2.25 million, according to a report KIC gaveto the city of Ketchum. A U.S. Economic DevelopmentAdministration grant would pay for half of that, but itwould need public or private financing to cover the rest. That would open up 29 spaces for prospective start-ups, and a maximum of $102,000 in rental revenue. The report says KIC would need $87,000 in annualfunding from the city, plus $68,000 in rent to get toa sustainable operation. The building and operating

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Will Wissman, front, Yancy Caldwell, center, and Wyatt Caldwell work for Caldwell Collections, based at the KetchumInnovation Center. Express photo by Roland Lane

Business incubator in Ketchum markssuccesses and challenges

Program banks on citys entrepreneurial spirit

By PETER JENSENExpress Staff Writer

Our community

learned a valuable

lesson over the last

five to six years. You

have to think about

consequences. I think

the community is a

lot more willing toembrace change.

Harry GriffithSun Valley Economic Development

I


9/16


BUSINESS & JOBS

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expenses would be $128,000 a year,providing KIC a $27,000 annualprofit.

Duval estimates that the valueof donated time from people fromHawley Troxell, BSU and ZionsBank exceeds $10,000.

Pitch nights KIC also hosts quarterly pitchnights, when companies get upand pitch themselves to investors,hoping to exchange their ideas andbusiness plans for seed funding. In three pitch nights, entrepre-neurs have raised $1 million to $1.25million in funding commitments forfour companies, Duval said. Funding is contributed in returnfor equity stakes in the companies.

If they take off, they will providehuge returns to investors. Thatsalways far from guaranteed, how-ever, and is the risk that investorsrun with startups. In mid-September, Duvalannounced the first launch of acompany funded through a pitchnight: WinUru Inc., which willallow online shoppers to receivecash rewards for buying productsfrom online retailers. The com-pany got a substantial part of its$700,000 in seed funding at a pitchnight last December. More than adozen investors in the Wood RiverValley contributed. WinUrus CEO, Will Garden-swartz, moved from SouthernCalifornia to Hailey to launch thecompany. KIC has been integral to Win-Urus birth, Gardenswartz saidin a statement accompanying theannouncement. We live in a tal-ented community, and KIC helpedbring that talent to bear on WinU-rus behalf. The company aims to bringshoppertainment games to U.S.markets. Already popular in Asia,the first game from WinUru is mod-eled after Bingo and lets players wincash prizes of $1 to $25 for pur-chases with online retailers.

Will is a prime example of whatwe are trying to do here at KIC,Duval said. This is a company thatcould have a significant impact onour local economy, bringing in year-round, non-tourism-related jobs.

A startup itself Duval came up with the idea forthe incubator and pitched it to SunValley businessman Rick LeFaivre.LeFaivre is the former vice presidentof Advanced Technology Group, aresearch lab within Apple Computer. LeFaivre, who has run threebusiness incubators, has a deepknowledge of startup culture and

how to succeed in a cutthroat busi-ness environment, Duval said. Duval grabbed LeFaivre as hewalked off-stage after a giving apresentation at a local conference. I said, Hey lets grab a cup ofcoffee, Duval said. I gave him awhite paper I had been working onand asked, Do you think this willfly? LeFaivre agreed, and becamethe first of many local communityleaders, experts and entrepreneursto volunteer their time for KIC. They formed the Sun ValleyBand of Angels and Mentors, whichnow includes mentors providing

advice on law, accounting, venture

capital, angel investing, nonprof-its and business management. KIChas more than 40 volunteer mentorsand 60 registered entrepreneurs.The advice and mentoring is offeredfree of charge to any member of thelocal business community. Were lucky because we haveincredibly active volunteers, Duvalsaid.

Long-term goals If it succeeds, the KIC can playa key role in helping to diversify theeconomic base in Blaine County,said Harry Griffith, executivedirector of Sun Valley EconomicDevelopment. Griffith said it helps shape aconversation that the communityis starting to have, asking whichtypes and sizes of business it shouldattract and what they would bring. The loss in 2014 of Scott Sportsand Smith Optics, both longtimeand homegrown Ketchum compa-nies, still stings to an extent. Griffithsaid he wants the spirit of entrepre-

neurship that KIC captures to helpKetchum transition past that. How can we diversify our econ-omy? Griffith asked. Were nevergoing to get over that hump of tour-ism as two-thirds of our economy.But we can get to the point wherewe move past the loss of Smith andScott. Griffith said he hopes thedeep economic plunge that BlaineCounty recently experienced showsthe need to prepare for future eco-nomic downturns. A diverse econ-omy is one way to address that. Our community learned a valu-able lesson over the last five to sixyears, he said. You can be resistantto change and new things. You haveto think about the consequences. Ithink the community is a lot morewilling to embrace change.

Currentoccupantsof the KIC

User Interface UserExperience:The company expanded to occu-

py space in the KIC this summer

to create its Solu project. It plans

to create an interface for creat-

ing, archiving and retrieving per-

sonal multimedia content.

SquareDot Group:The creative agency has done

design work and built advertis-

ing and branding campaigns for

several Blaine County companies.

It uses visual and verbal cues

and strategic web design to tell

your story and spread the word,

according to its website.

Caldwell Collections:Run by Sun Valley natives and

brothers Yancy and Wyatt

Caldwell, the company produces

video and photography focusedon outdoor adventure sports,

lifestyle, event and travel cinema-

tography.

Maxwell StructuralDesign Studio:Run by Craig Maxwell, the

firm does structural engineer-

ing design and consulting. Its

already expanded enough to hire

three people, and may be the

first KIC graduate.

Modula S:Modula S offers a high quality,

factory produced, very efficient

modular construction system,

according to KIC.

INCUBATORCity challenges incubator

to become moreself-sustaining

CONTINUED FROM PAGE 8


10/16

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ommercial flight activity atFriedman Memorial Air-port in Hailey continues

to pick up due to local efforts toimprove air service.

Increases this year were notnearly as dramatic as they werebetween 2013 and 2014, whenenplanements jumped 28 per-cent following the inauguration ofUnited Airlines nonstop flights con-necting Sun Valley with Denver andSan Francisco, but they were stillencouraging to local elected offi-cials and business owners. Winter was especially good.From December through April,enplanements were up 11 percentover the same period in 2014. Summer was only marginallybusier than it was last year. FromMay through August, enplanements

were up 1 percentbut that wasdespite a 20 percent drop in avail-able seats on Deltas flights from SaltLake City. The slight increase wasdue mostly to a 36 percent increasein enplanements to Denver and SanFrancisco. The flights are subsidized byabout $2 million in revenue guar-antees to Alaska and United airlinesfunded by a 1 percent addition tothe local-option tax and by SunValley Co. The money is being spentwith the expectation of a mutuallyreinforcing relationship between airservice and local business. With the growth i n

enplanements in 2015, we expect tosee a resulting growth in economicimpact as well, said Carol Waller,executive director of the Fly SunValley Alliance, a nonprofit groupwhose mission is to promote air ser-vice to the Wood River Valley. Sun Valley City CouncilmanPeter Hendricks called Friedmanairport an economic driver. The business owners I havetalked to have all attributed betteraccess by air as a contributor tomore robust economic activity,he said. Sun Valley Resort spokesmanJack Sibbach said the improved airservice was taken into considerationby the resort when it decided toremodel and expand the Sun ValleyLodge last year. He said guestsfrom California this summer have

told him the direct flights from SanFrancisco will enable them to visitthe area more often. Ketchum Mayor Nina Jonas saidthe improved service was also men-tioned in connection with develop-ment of the Limelight and AubergeSun Valley hotels. Despite its improved air accessand direct flights to five cities, SunValley remains well behind someof its competitors in that regard.Jackson, Wyo., for example, hasnonstop flights to 13 cities. KariCooper, executive director of non-profit Jackson Hole AIR, said theeffort to improve air service has

been going on since the mid-1980s.Cooper said a lodging tax paysfor marketing and visitor-relatedinfrastructure, and airline revenueguarantees are funded by volun-tary contributions from businesses.Those contributions are rewardedby discounts of up to 30 percent onseason passes for employees. Most destination resorts lookfor a mechanism through whichemployees in the community canpurchase lift passes at a discountrate, Cooper said. You wantyour employees to be skiing and tobe speaking well of their interactionwith the resort. More seats will be added toflights to Sun Valley in 2016. Thiswinter, there will be a 13 percentincrease in overall seat capacity,which is a 46 percent increase over

the past three-year average. AlaskaAirlines will add a second daily Seat-tle flight over the holidays, Unitedwill increase its Denver flights inpeak season from two flights perweek to five and Delta will providea third daily flight more often.

Visit Sun Valley and Sun ValleyResort plan to collectively spendmore than $1 million for the winterseason to advertise to customers inair-service markets. Waller said Fly Sun Valley Alli-ance is working to add at least onenew nonstop flight market for 2017and to expand the flight scheduleand frequency for next summer.

Air service boosts local economyCooperative efforts bring in more commercial flights

By GREG MOOREExpress Staff Writer

% change 2012/13-2015/16

RESORT Deps Seats# Nonstop

Cities Deps Seats

# Nonstop

Cities Deps Seats

# Nonstop

Cities

Jackson Hole (JAC) 1,111 120,702 9 1,592 172,863 13 43% 43% 44%

Vail/Beaver Creek (EGE) 1,438 205,071 10 1,446 186,049 11 1% -9% 10%

Montrose/Telluride (MTJ) 919 67,966 9 1,116 92,214 11 21% 36% 22%

Steamboat Springs (HDN) 1,003 107,997 8 1,270 120,731 11 27% 12% 38%

Aspen (ASE) 2,402 158,096 6 2,943 202,311 8 23% 28% 33%

Sun Valley (SUN) 757 32,646 3 686 47,801 5 -9% 46% 67%

Mammoth (MMH) 537 37,572 4 344 25,616 4 -36% -32% 0%

Gunnison/Crested Butte (GUC) 312 33,649 3 343 30,014 5 10% -11% 67%

2012/13 WINTER 2015/16 WINTER

AIRLINE DEPARTURES AND SEATS

0

20000

40000

60000

80000

100000

120000

140000

160000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Enplanements Seats Available

ENPLANEMENTS VS. SEAT AVAILABILITY COMPARISON

2014

l l l

Source for all charts: Fly Sun Valley Alliance

C

DEC-APRIL*

Alaska

2014

Alaska

2015 % chg

Delta

2014

Delta

2015 % chg

United

2014

United

2015 % chg

2014

Total

2015

Total % chgSeats Available 14 ,364 13,680 -5% 18,417 20,081 9% 5,676 7 ,392 30% 38,457 41,153 7%

Enplanements 11,258 10,604 -6% 12,298 14,641 19% 3,487 4,750 36% 27,043 29,995 11%

% Load Factor 78% 78% 0 pts 67% 73% 7 pts 61% 64% 3 pts 70% 73% 3 pts

* Does not include diverted flights

SUN SEATS, ENPLANEMENTS AND LOAD FACTORS BY AIRLINE

MAY-AUGUST

Alaska

2014

Alaska

2015 % chg

Delta

2014

Delta

2015 % chg

United

2014

United

2015 % chg

2014

Total

2015

Total % chg

Seats Available 10,608 10,744 1% 18,906 15,180 -20% 8,190 9,122 11% 37,704 35,046 -7%

Enplanements 8,6 04 8 ,830 3% 1 3,143 11,86 6 -10% 4 ,987 6,30 9 2 7% 26,73 4 2 7,005 1%

% Load Factor 81% 82% 1 pt 70% 78% 8 pts 61% 69% 8 pts 71% 77% 6 pts

*SUN airport closed part of April and May in 2014 & 2015


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he Hispanic population in

Blaine County schools hasgone up more than 27 per-cent in the past 15 yearsmirroringthe overall Hispanic population inthe county.

The Blaine County School Dis-trict was less than 12 percent His-panic in the 1999-2000 school year.Since then, there has been steadygrowth in that demographictoday, the schools are almost 40percent Hispanic. The districts gen-eral student population has grownonly 10 percent during that time. As immigrant populationsincrease statewide and across thecountry, Blaine County SchoolDistrict Superintendent GwenCarolHolmes says she expects that trendto continue. Newcomers to thevalley and local classrooms arecoming at a time when the educa-tional landscape is also in flux, shesaidthe traditional, one-size-fits-all approach to lesson plans is beingreplaced by more personalized edu-cation that recognizes the uniquelearning styles of all students. Thisnew approach will fold in those stu-dents who come from poor and/ormulticultural backgrounds with therest of the classroom, she said.

The districts emphasis on sec-ond-language classes extends toall public school students, Holmes

said. The transformation of Wood-side Elementary School into AlturasElementary a few years ago createda campus-wide, English-Spanishapproach to elementary education.This centralized early dual-lan-guage education in Blaine County,Holmes said, was previously scat-tered throughout area elementaryschools. Director of Communica-tions Heather Crockerwho is alsothe mother of daughters who havetaken advantage of early educationdual-immersion classessaid thecollaborative environment allowsnative Spanish speakers and nativeEnglish speakers to learn new lan-

guages together at a young age.All students from sixth through

10th grade must take a second lan-guage, Holmes saidand whilethe classes are optional for 11th-and 12th-graders, those older stu-dents often choose to take them.This concept of embracing onesnative tongue while learning a newone, she said, is modern. Holmesherself speaks English as a secondlanguage. As a child, if I spoke LowGerman, my grandmother wouldcorrect me and tell me to speak Eng-lish, she said. Now, we want our

kids to speak multiple languages.

The melding of cultures isntalways symbiotic, particularly whenthere is a dominant one. Requiringnative English speakers to exit theircomfort zones and learn a secondlanguage is one way to create empa-thy between English-speaking stu-dents and students who speakSpanish as a first language. Butotherwise, kinks in the assimilationprocess will iron out, Holmes said.Holmes said that as the new leaderat Wood River High School, Prin-cipal John Pearce will go directly tostudents when there is a problem.

She said teachers will help kidstackle cultural issues by askingthem to identify their problems andcome up with solutions.

Coming up with unique answersto unique student situations,Holmes said, is more and more afocus of the School District. Whenolder students with working par-ents are the primary caregivers ofyounger students after school, theymight not have time to do home-work, she said.

We are finding ways to helpthem be successful despite that,she said.

A new, shorter Wednesday atWood River High School presentsan after-school opportunity forthose caregiving students to get

work done before their younger sib-lings get out of school, she said.

Finding adult resources for kidsis another goal, she said. Since someparents are not home often, or donot speak English, requirementsthat elementary school studentsread daily and have their parentssign off may prove difficult, shesaid.

But the custodian at schoolwould be very happy to spend 20 or30 minutes with you before school,letting you read to him or her andsign off, Holmes said. She said its the job of teachersand administrators to forge these

connections.This school year, the district is

emphasizing advanced classwork forHispanic studentsa historicallyunderrepresented demographic inAP, dual-credit and honors classes.Additional resources are beingadded to accommodate studentswho are new to hard classes andmay not be familiar with college-bound protocol.

We want everybody to stickthe toe in the water and get a tasteof it, Holmes said. Those are theclasses that are most closely con-nected to life after high school.

Hispanic student populations in the Blaine County School District have grown by

more than 27 percent in the past 15 years. Express graph by Tony Barriatua

Diversity blooms atBlaine County schools

School District is now 40 percent Hispanic

By AMY BUSEKExpress Staff Writer

T

. . , ,

3356

39.2%

20142015

20132014

20092010

20042005

19992000

3353

3331

3197

3024 37.6%

32.3%

21.4%

SCHOOLYEAR

11.9%

Source: Blaine County School District

HISPANIC ENROLLMENT IN BLAINE COUNTY SCHOOLS

. . , ,

Total

enrollment

Hispanic

percentage

of total

enrollment

. . , ,


12/16


13/16

Express www.mtexpress.com Wednesday, September 30, 2015 13REAL ESTATE

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

'08 '09 '10 '11 '12 '13 '14

Bellevue

Carey

Hailey

Ketchum

Sun Valley

UnincBC

Source: Sun Valley Board of Realtors

ALL BLAINE COUNTY SINGLE FAMILY &CONDO MEDIAN SALES PRICES(in thousands)

8633 40 23 29 33 39

57 5532

222

159118

82 89111

128

232

178

133

214

134

118

72 58

92

113

140

140

124

137

125

88

61 48

52

80

98

85

83

49

34

34

20 29

50

53

86

69

80

-

100

200

300

400

500

600

700

800

'05 '06 '07 '08 '09 '10 '11 '12 '13 '14

Unincorp Blaine

Sun Valley

Ketchum

Hailey

Carey

Bellevue


TOTAL RESIDENTIAL SALES TRANSACTIONS

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

'05 '06 '07 '08 '09 '10 '11 '12 '13 '14

Bellevue

Carey

Hailey

Ketchum

Sun Valley

UnincBC


VALUE OF TOTAL RESIDENTIAL SALES TRANSACTIONS(in thousands)

$0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

'09 '10 '11 '12 '13 '14

Bellevue

Hailey

Ketchum


VALUE OF TOTAL COMMERCIAL SALES TRANSACTIONS(in thousands)

2217

11

37 40

57

32 32

38 6 8

1519

37

6

55

21

29

4

33

4

5

37

$-

$10

$20

$30

$40

$50

$60

$70

$80

$90

'01 '02 '03 '04 '05 '06 07 '08 '09 '10 '11 12 '13 '14

New Comm Remodel Comm

Source: Cities and Blaine County records

TOTAL VALUE OF BLAINE COUNTY COMMERCIALBUILDING PERMITS(in millions)

un Valley Board of RealtorsPresident Jed Gray said thateven though sales numbers

havent improved greatly over thepast year, hes hoping the WoodRiver Valleys real estate market ison a trend of improvement. He said that in his 30 years ofreal estate experience, he has seenups and downs, but likes to see

gradual growth, which is a sign ofa healthier market. If you spike, you come downequally as hard, which is what wehave seen with the recession, saidGray, a broker with Sun ValleyAssociates. He said this summers bustlingtourist season is an indicator ofmarket turnaround. According to data compiled bythe nonprofit Sun Valley EconomicDevelopment, Blaine County resi-dential sales transactions in 2014increased by $56.8 million, with adrop in units sold from 532 to 456compared to 2013. Commercialsales transactions in 2014 increasedby $4.6 million, with a slight dropin the number of transactions from33 to 32 compared to 2013. Median condominium salesprices increased across the boardin Hailey, Ketchum and Sun Valley,with a jump to $365,000 in 2014compared to $305,000 in 2013, withthe number of sales in 2014 droppingfrom 532 to 456 compared to 2013.

Gray said 2015 started off welland he hopes the positive trend willcontinue into 2016. I think overall, if you look atthe market starting in January2015, we had a very good winterand spring, Gray said.

July was lackluster, he said. He said the many activities con-densed into the mid-summerincluding the Sun Valley WritersConference, the Sun Valley Centerfor the Arts wine auction and theSun Valley Summer Symphony con-certskept people busy rather thansearching for second homes.

Gray said he has noticed thatafter visitors return home and areable to reflect on their vacation,they are prompted to return in latesummer and fall to shop for a houseor condominium.

Historically, August, Septem-ber and October are our strongest

sales months, particularly in thesecond-home and condominiummarket, he said.

He said Blaine Countys mid-priced market, valued at between$1 million and $3 million and gen-erally purchased as second homes, isstrengthening. It currently has 250properties for sale, located largely inthe mid-valley. However, he said thelarge number of available propertiesin the middle market makes it dif-ficult to sell individual units.

With that much choice, theresno urgency, Gray said. It doesntcreate a sense of urgency for thebuyer.

In 2014, sales figureswere up, number oftransactions down

By RYAN THORNEExpress Staff Writer

Real estate broker Jed Gray, president of the Sun Valley Board of Realtors, pre-pares to show a house in the Lane Ranch area of Sun Valley.Express photo by Roland Lane

See REAL ESTATE, Page 16

Real estatemarkettrendingupward

S

52

88104

123 126 132

93

4529 27

4524

5169

13

9

12

3749

17

28

15

5 0

2

0

1

1213

32

39

30

33

38

53

41

2323

14

19

25

34

$-

$50

$100

$150

$200

$250

'01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14

New SF New MF Remodel etc

Source: Cities and Blaine County records

TOTAL VALUE OF BLAINE COUNTYRESIDENTIAL BUILDING PERMITS(in millions)


14/16

14 Express www.mtexpress.com Wednesday, September 30, 2015RECREATION

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draft Blaine County comprehensive plan

acknowledges that despite the countys tre-mendous recreational assets, recreationalneeds still exist. Meeting those needs is particularlyimportant in an area where recreation by both resi-dents and visitors plays such an important role in theeconomy. An online survey of recreation needs conducted bythe countys Land Use Department collected responsesfrom 975 people, of whom 819 were county residents. The survey showed a particular interest in outdoor,nature-inspired activities, including single-track trails,access to rivers and lakes, nature preserves, bike pathsand parks that can be used byfamilies for picnicking andother group activities. The highest need for recre-ational facilities overall is in theBellevue/Hailey area. That wasshown in the survey not onlyfrom people who live in thatarea, but also from respond-ers who live elsewhere in thecounty. Blaine County RecreationDistrict Executive Director JimKeating said he is still analyzing the data, but wassurprised at the extent of interest in increasing thosetypes of recreation facilities. He said the survey willbe hugely valuable for recreation planning in thecounty. I think it promotes the idea of working with part-ners like the BLM to connect the needs of the commu-nity to sustainable recreation opportunities, he said. Before government funding for more facilities can beobtained, Keating said, the process is to first start withreported need. The category of facility that garnered the most inter-est in the survey was nonmotorized trails. Sixty percentof respondents said there is a high need for more capac-ity or improvements there. Second was natural open space, for which 52 percentof respondents said there is a high need, followed closelyby better access to rivers and lakes, which got support

from 51 percent of respondents.

A fourth category that attracted interest was aquat-ics facilities. Keating said the Recreation District willneed to solicit more detailed information on what isdesired. The YMCA in Ketchum supplies year-roundindoor swimming at its pool, and the Recreation Dis-trict manages the Aquatic Center in Hailey, but thatsonly an outdoor, seasonal pool. The AmericInn hotelin Hailey also allows the public to use its pool for $5per visit, with discounts on multiple-visit passes. Keating said the districts most immediate prioritiesare finishing repairs on the Wood River Trail bike pathand extending the Galena Lodge trails system. After

those are completed, he said, thedistrict will put more effort intomeeting the needs revealed bythe survey.

Keating said the bike-pathrepair project put particularemphasis on beefing up thesection of trail near St. LukesWood River hospital. A trail-use survey conducted in 2012by the Recreation District andSun Valley Economic Develop-ment showed that that was the

section of the path that received the most use. That helped us to understand how aggressive theneed would be for the long term, Keating said. Renee Catherin, trails supervisor for the KetchumRanger District, said that survey has been very helpfulin obtaining federal money for rehabilitating trails onthe Ranger District following the Beaver Creek Fire,which burned more than 100,000 acres of land in andalong the west side of the Wood River Valley in 2013.Catherin said she used the survey data in all of threegrant applications for those funds. I feel so empowered to have that information, shesaid. Its much harder to write a successful grant appli-cation without it. Im not sure how much weight it hasexactly, but Im sure its significant. Catherin said a 2015 grant for $200,000 enabled thedistrict to rehabilitate the Osberg Ridge Trail north ofKetchum. The trail was reopened in August.

Recreation survey shows needfor more outdoor opportunities

Questionnaire in Blaine County polled residents and visitors

By GREG MOOREExpress Staff Writer

I think it encourages

joining with partners like the

BLM to connect the needsof the community with

opportunities.Jim Keating

Blaine County Recreation District

A

21%

18%

46%

60%

40%

17%

39%

52%

51%

36%

27%

12%

14%

12%

20%

26%

27%

15%

23%

40%

21%

23%

32%

25%

40%

20%

33%

48%

30%

0% 10% 20% 30% 40% 50% 60% 70%

RV Camping Site/Paid Campground

Summer Motorized Trail (e.g. motorcycle or ATV)

Paved Multi-use Non-motorized Trail (e.g. Wood River Trail)

Single Track Non-motorized Trail (e.g. hiking and mountain biking trail)

Cross Country Skiing/Snowshoe Trail

Fat Biking Trail (winter)

Road Bicycling on a Road or Highway

Nature Preserve or Natural Open Space

River, Lake or Reservoir Access

Alpine Skiing Destination

Backcountry Skiing Destination

Snowmobiling Destination

Gun Club

Equestrian Center

Skate Park

Active Playing Field (e.g. outdoor baseball or softball field)

Soccer Field

Outdoor Volleyball Court

Golf Course

Outdoor Park

Indoor Tennis Facility

Outdoor Tennis Court

Ice Rink

Bike Park or Pump Track

Youth Center

Indoor Climbing Facility

Fitness or Wellness Facility

Aquatics Facility

Gymnasium in a School or Recreation Center

Please rate each of the following types of recreation facilities in Blaine County by your estimated NEED for

more capacity or other improvements. (% responding Highest Need or High Need)

Source: Blaine County Recreation District

RESULTS OF 2015 COMPREHENSIVE PLAN RECREATION SURVEY

726-8060


15/16

Express www.mtexpress.com Wednesday, September 30, 2015 15DEMOGRAPHICS

KAREN PROVINCE & SUE RADFORD, REALTORS

The Realty Advisors of Sun Valley

Green is: ENERGYEFFICIENT

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Tile, Wood Floors.Clubhouse features Recycled Floors,Wool Carpet, Recycled Wood Siding

2475 Woodside Blvd. SOLD 1,286sf 2BR/2.5BA 2 Car Garage

2477 Woodside Blvd. $215,000.00 1,326sf 2BR/2.5BA 2 Car Garage



2483 Woodside Blvd. SOLD 1,334sf 2BR/2.5BA 2 Car Garage

2527 Grange Way $323,500.00 1,903sf 2BD/2BA 3 Car Garage

2529 Grange Way SOLD 1,748sf 2BD/2BA 3 Car Garage

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Stop in to see theMagic of Sweetwater

o, who are we, the residents of Blaine County, this vast expanse ofsagebrush-covered hills and forested mountains? While every resi-dent of the county has his or her own set of stories, data compiled

by the nonprofit group Sun Valley Economic Development provides somequick answers.

Of the approximately 21,000 people who live in the county, most arewhite, but the Latino population has grown significantly. The charts hereshow a breakdown of where we live, how old we are and what our ethnici-ties are.

Blaine County:Who we are

Statistics provide a snapshot of countys population

By EXPRESS STAFF

-

5,000

10,000

15,000

20,000

25,000

'70 '80 '90 '00 '10 '11 '12 '13 '14

UnincBC

Sun Valley

Ketchum

Hailey

Carey

Bellevue


POPULATION

AGE BY CITY

' ' ' ' ' ' ' ' '

ll

l

ll

0% 20% 40% 60% 80% 100%

Bellevue

Carey

Hailey

Ketchum

Sun Valley

64 yrs

Source: U.S. Census Bureau, 2013

0% 20% 40% 60% 80% 100%

Bellevue

Carey

Hailey

Ketchum

Sun Valley

White

Latino

Other

Source: U.S. Census Bureau, 2013

ETHNICITY

S

A m e r i T i t l e K e t c h u m | 1 7 1 W e s t S i x t h S t r e e t | Ke t c h u m, I D 8 3 3 4 0

2 0 8 - 7 2 6 - 4 5 9 5 | k e t c h u m @ a m e r i t i t l e . c o m | w w w . a m e r i t i t l e . c o m

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Paige McAllister28 Years of Experience

Kara Carter12 Years of Experience

0% 20% 40% 60% 80% 100%

Bellevue

Carey

Hailey

Ketchum

Sun Valley


HOUSEHOLD INCOME DISTRIBUTION (2012)

n$75k


16/16

16 Express www.mtexpress.com Wednesday, September 30, 2015

REAL ESTATE

REAL ESTATEAir access deemed key to real estate market

CONTINUED FROM PAGE 13

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He said roughly 76 propertiesare listed in Blaine County for morethan $3 million, mostly in the northvalley, and only seven have beensold so far in 2015.

Though not many high-endhomes have been sold, Gray said,multiple parties have expressedinterest in properties that have satuntouched on the marketfor the past few years. Gray said distressedproperties, those thathave been in foreclosureor were owned by banks,have been largely sold off,leaving a local marketwith healthy propertyvalues.

Over the last coupleof years, weve been ableto take out most of thedistressed market, hesaid, particularly in the Bellevueand Hailey area. Gray said he has noticed a shiftin the overall market from its tra-ditional older demographic toyounger buyers largely interested inthe outdoors.

With the tech era, there is somuch wealth that is created at ayounger age, Gray said. They aremuch more interested in outdooractivities like cross-country skiingand mountain biking than playinga round of golf. Gray said hes heard locals ask

why the real estate markets in otherresort areas such as Park City,Utah, and Jackson Hole, Wyo., aredoing so well. He said those areaseither have large cities nearby that

absorbed distressed properties orhave a bustling airport that canbring in prospective buyers.

Jackson Hole has an airportwith a lot of destinationflights all over the UnitedStates, he said.

Gray said the Real-tors for Air program andlocal-option-tax dollarsthat support increasedflight service betweenFriedman MemorialAirport and five majorcitiesSeattle, Denver,Salt Lake City, Los Ange-les and San Franciscowill help the Wood River

Valleys market compete with rivalresort areas.

Gray said ease of access toBlaine County is a key to growth,and those who are pushing againstincreased airport traffic and clamorfor a relocation outside of the WoodRiver Valley are setting the localmarket up for failure.

From my standpoint, if theymove the airport, they will put sucha setback in the economic strengthof our community, Gray said. Inthe tourist industry, you grow oryou die.

In the

tourist

industry,

you grow,

or you die.Jed Gray

President, Sun Valley

Board of Realtors

PICK

ONE UP

On newsstands now

THE RESULTS ARE IN.

economic almanac 2015

Documents